Free loan at Dawn
The first time you borrow, you can borrow 100% free of charge- check these guys out. No fees, no interest, and no other expenses. It is only the first loan that is free, but in return, it is obviously 100% free. There is no requirement that you apply for new loans later. The loan is without any form of obligations.
You can borrow $ 6,000 free of charge, but you can borrow larger amounts for future loans.
In order to use the free loan, you must opt for a maximum of 6,000 krónur. Since it is a credit loan, there are 48 hours of reporting time before you can approve the loan and get it paid. This is a legal requirement for retail loans and can not, therefore, be changed. If you do not want to wait the 2 days, you can instead choose a bank credit or a repayment loan. Read more about these loans in the following sections.
With the credit card from Dawn, you can get $ 15,000 in credit. You apply in just 1 minute and then have access to your credit. You decide, of course, how much you want to borrow from the credit and how long. It gives super great flexibility. You can thus tailor your loans the way you want.
The advantage of the overdraft is that you do not have to make new applications when you need to borrow more money. You can always raise your credit whenever you want.
If your borrowing requirement changes continuously, it will be advantageous with a cash credit. When you get paid or otherwise get some money, you can pay off on the credit so you do not have to pay expenses for an excessive loan. When you regularly use money and again you need the money, you can increase your credit again. That way, you only borrow exactly the amount you need right now.
From 1 / 1-2017, a 48-hour reporting period was filled with the very small commercial loans. This means that you can only get your money after 48 hours. This restriction is not on credit. With the overdraft, you can, therefore, get the money exactly when you wish.
With a Dawn merchant loan, you can borrow from 100 kr to 10.000 kr. With a maturity of 5 days to 30 days. This has both advantages and disadvantages.
Benefits of a Dawn Mortgage Loan:
- The first loan is free. You can borrow up to 6,000 kr. Free of charge.
- You know the exact borrowing costs from the start, as the loan term is determined in advance.
- The loan is terminated after a maximum of 30 days. If you only need the money in such a short period of time, it may be advantageous not to hang on a loan for a long time.
Disadvantages of a Dawn Mortgage Loan:
- Can only be paid after the statutory 48-hour reporting period.
- If you are in need of money, you must take a new loan each time.
Once you’ve read the pros and cons of a Dawn retail loan, you can decide if it’s a loan for you. Often, a bank loan or repayment loan will be a better option, but in some cases, the credit loan may be the right one. If you do not need the money for more than 30 days and no need for new loans on a regular basis, then the credit loan can be a pretty good solution. If you have not already tested a Dawn credit loan, you can use the free option. Apart from the waiting period of 2 days, there are no disadvantages and no expenses for the free loan of 6,000 kr.
Dawn repayment loan
With a loan from Dawn, you can borrow from DKK 5,000 to DKK 20,000. The repayment loan is only offered to existing customers. Existing customers cover customers who have previously borrowed from Dawn. This also applies to the free loan. You do not need to have money on your pocket before you get a repayment loan, but you must be set up in their system as an existing customer.
In addition to the higher loan amount, the benefit of a repayment loan is that you can set it exactly according to the repayments that you have the opportunity to make. You can specify how much amount you need and how much you can deduct per. month. Then you tailor a loan to suit your needs and your repayment options. Interest expenses do not change by changing your installment amount. What changes in order for the loan to suit your needs is instead the maturity. If you can deduct a large amount each month, the maturity will be short. If you can only deduct a small amount each month, the maturity will be longer.
In other words, you decide how much you want to deduct per. month. The more you deduct, the faster the loan is paid back. It’s simple and manageable.
Know your expenses
With this heading, we refer both to your borrowing requirement and your repayment ability.
It is important to investigate exactly how much amount you need. Obviously, the bigger the loan you take, the more expensive the loan will be. Therefore, there is no need to borrow more than the need you have now.
The advantage of Dawn and many other microloans is that you know the exact cost of the loan already before applying. With the larger consumer loans, your expenses will only be determined after you have been rated. At Dawn, you can immediately see your price. If you are approved for the loan, then this is the price you will pay.
You can easily choose loan amount and loan time on the front of Dawn. The price is immediately displayed to the right, so you can easily see the significance of your loan if you turn up or down for the loan.
Fast and secure loan at Dawn
When you borrow from Dawn, you must agree with NemID. This happens over a secure connection so your money is safe. This also means that you can get the loan paid super fast. As soon as your loan is approved, Dawn will transfer the money to your account.