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Like anyone else, you get into the needs of funds. After exploring the options of your own savings and help from the friends or family, you may need to go to the option of taking a loan. As they are available nowadays, your online research encounters countless advertisements on loans. Some commit to provide low rates, some show good possibilities on repayments. Hypnotised with their eye-catchy rate quotes, colourful themes, big commitments etc. you feel driven to choose one of them.

However, it is very important to always see through the words that the loan advertisements use. There should be a proper understanding of each and every term and should be backed with the facts.

Here Are Few Facts That You Should Know About The Promotional Ads On The Loan Products.

Mentioned rate quote can be different from what you get

The interest rates presented in the ads are 99% time different from what you get actually. The mentioned one is usually applicable on a lower or bigger amount. Also, lenders cannot generalise things as for them repay capacity of the applicant is most important. Two different applicants cannot have the same capacity to afford the loan. Final decision on the rate of interest is always affected by the current market trends and current income status of the fund seeker.

Did it say LOW upfront fee? Excuse me!! There should be NO upfront fee

Yes, if a lender says in an advertisement that you will be charged a low upfront fee then it is not doing any favour to you. In fact, this is unethical and wrong, as lenders are not allowed to charge any upfront fee. Whatever charges and fees are there, they all are encapsulated in APR i.e. Annual Percentage Rate. Keep no confusion on this aspect.

There is nothing like low interest rate on very bad credit loans but only customisation

People usually have countless doubts when it comes to very bad credit loans. As they are for the people in extreme pathetic financial circumstances. CCJ is another common thing that pairs easily with very bad credit situation. These loans are always of high interest rates and the lender offers customisation to calm down the rates. But that certainly does not mean the lower rates because practically that is not possible. This is especially for the worst credit loans that have no obligations of guarantor. If you ever search for the very bad credit loans with no guarantor by direct lender, you need to keep this fact in mind.

No credit check is actually soft credit check

This is basically for those with bad credit score or no credit history. The no credit check is considered as a process where the lender does not perform any credit score perusal. In reality, it is soft credit check and in place of credit check, the lender takes some other types of information. Employment history, job stability, current income, bank statement, address are taken from the loan applicant.


The above factors usually miss to get into notice of the borrowers in the loan advertisements. With small caution, you can take a safe and sound financial decision on loans. An informed decision is never weak and when it comes to loans, you have to be on your toes. There can be regretful situations and loss may happen. At the time of financial mess, you cannot waste time while wrestling with wrong choices. Money matters need to be tackled in the first take. The best way to do things right in your borrowing decision is to follow the required preconditions. Follow them, implement them and have a safe escape from your financial problems

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