Every year more and more of us decide to fill out the pre-Christmas loan application. Compared to 2013, the number of December loans more than doubled.
Installment loans in December
Companies from the non-banking sector gain our trust. This is confirmed by the growing number of new borrowers.
From January to November, forms filled in by new customers accounted for 8% of all applications, while in the pre-Christmas period this percentage increases to 20%.
Online loans with earnings up to USD 2,000
63% of all pre-holiday borrowers are women. This is mainly due to the fact that first of all the ladies deal with the preparation of Christmas decorations, dishes and make sure that every household member finds even a small gift under the Christmas tree.
It is worth noting that non-bank institutions are increasingly providing quick payday loans via the Internet to people whose earnings do not exceed USD 2,000.
This is as much as 53% of all borrowers, which confirms that a reasonable selection of the amount borrowed to the repayment period gives a real chance of obtaining a positive loan decision.
Quick loans for higher amounts
During December sales, sellers at every step encourage us to buy various products, gadgets or electronic equipment at exceptional prices. Recently, we have also decided to buy more and more expensive gifts.
This also affects the number of loans. As statistics show, before the Christmas season, we borrow higher amounts than in other months. The average value of a quick payday loan increases by USD 80, while the value of an online installment loan by USD 168.
A wisely selected internet loan will be an ideal way to finance family holidays without sacrifices. It is worth remembering to check the current installment loan rankings, payday loan rankings and to rationally determine the amount of the monthly installment in relation to your financial capabilities before choosing a non-bank institution.