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How Can You Benefit from Interest Free Loans?

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29 JANUARY 2019

How Can You Benefit from Interest-Free Loans?

Interest-free loans can play a vital role in helping you regain financial stability and get back on your feet. We know that a little cash can go a long way, helping keep you afloat; whether it’s bills, car payments, or even just food for your young ones, a loan can make all the difference. If it is your first time as a Superloans customer, you will be eligible for a free interest-free cash loan, that can help your finances stay in shape.

Today we will be discussing the benefits of interest-free loans, and what to look out for when you take out a short-term interest-free loan.

How our interest-free loans works

If it’s your first-time borrowing money with Superloans, then it could be free. At Superloans we understand what it is like to go through financial hardship. It is a stressful, oftentimes painful process. But when you need that leg up, we can help. Sometimes the best way to avoid getting trapped in a debt-cycle is to take out a loan. It sounds counter-intuitive, but it comes down to the type of credit you require. For example, debt-consolidation loans (previously covered by Buck here) can package all your existing loans together, typically with a lower interest rate.

In our case, a short-term interest-free loan, providing immediate cash, can provide immediate relief. But if you use your credit card instead, you’ll be lumped with interest (and fees, if you miss the payment).

Taking out a loan requires some savvy – particularly around the loan type, what you will use it for, and how your repayments will impact you in the future. But a great place to start is an interest-free loan. With Superloans we will let you borrow up to $500, under an Express or Pawn loan, with no fees, administration charges or interest.

Key benefits of an interest-free loan

It is crucial to understand the benefits an interest-free loan with Superloans may have, particularly over other, more traditional forms of credit such as a personal loan, or a credit card.

  • No interest repayments, no administrative fees. The key feature of an interest-free loan is its ability to keep you free of a debt cycle. With no interest or fees, in comparison with our more traditional short term loans, an interest-free loan costs you less. In fact, it costs you nothing extra, granted you make your repayments as scheduled.
  • It helps you budget for repayments easily. Unlike a credit card payment, in which the balance you pay each month may differ dramatically, an interest-free loan features fixed, predictable payments.
  • Help build positive habits with credit. At Superloans, we believe a core part of becoming financially stable involves building positive habits – and when your paycheck falls short, we often reach for the credit cards, or even our friends. If it is your first time in this sort of situation, it should be avoided if possible, and that is where Superloans fits in. Instead of taking out expensive credit that you can’t realistically pay, or potentially ruining a friendship, an interest-free loan can help keep you afloat when you need it most. What’s more, our Super Score system rewards you when you make repayments towards your loan. As your Super Score grows you’ll begin to unlock increased credit limits and lower interest rates on future loans you take out with us. It's our way of saying thanks – and a great way to encourage good habits with credit.

Need financial help? Turn to Superloans

If this is your first seeking out a loan with Superloans, we may be able to assist with an interest-free loan that can help keep you afloat. Contact us today to see if you qualify for an interest-free cash loan with Superloans.

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