I will surprise you because the interest rate on the loan is not the most important feature that you should pay attention to when looking for the cheapest cash loan.

When choosing a quick and cheap cash loan, pay attention primarily to the total cost of the loan and APRC. What is the APRC? This is the Actual Annual Interest Rate. The APRC amount is expressed as a percentage.

The APRC includes:

  • nominal interest – i.e. a value that tells you what interest you will have to pay for a cash loan and how much the cash loan will cost you. Nominal interest rate is presented on an annual basis,
  • Lender’s commission – that is, the amount you pay to the bank or loan company for “borrowing” money – determined individually by institutions granting loans and payday loans,
  • additional costs – e.g. extra paid the insurance.

It may turn out that in two institutions the interest rate will be the same, but the APRC will be higher in one of them because Bank X will require you to use an additional paid product. Then theoretically cheap cash loans will have a completely different total cost.

Cash loan commission
The commission can be charged in two ways – it can be added to the loan amount or collected when the loan is launched. Consider which option is more convenient for you.

Cheap cash loan – loan granting procedure

Cheap cash loan - loan granting procedure

The bank will first check whether you are not in the Credit Information Bureau as an uncertain debtor – if you’ve ever delayed paying installments too long before, you may have a problem with taking a new loan.

When choosing the facility or submitting the application for the cheapest online cash loan, prepare your ID card, income certificate, employer’s tax identification number.

Even if these are not required documents, they will certainly speed up the procedure. Of course, if you find a promotional cash loan without certification, check this option, but be sure to check whether you are sure you will not have to document your income for the amount you need.

Additional cash loan costs


The bank may offer you a lower interest rate on your cash loan, but you will probably need to take out additional insurance or open a personal account.

Think about whether it is worth it – the cost of credit can rise to a level at which this promotion will become unprofitable compared to the competition, which at first glance proposed a more expensive solution.

GFI cash loan


The GFI cash loan is available to both new and regular customers of the bank. The maximum loan amount is from 1,000 USD to 120,000 installments, and the bank does not charge any commission or early repayment fees when paying back the loan divided into 9 installments. New bank customers can additionally take advantage of the promotional interest rate – 3.44%.

Good Lender cash loan


You can get a cash loan from Good Lender Bank in the outlet – all you have to do is contact the bank helpline and the consultant will find the right branch for you.

After a positive credit decision, you can receive cash immediately. The bank does not specify the interest rate and commission amount, but for ease of reference, you’ll find a list of all required documents.

Ranking of cash loans


Are you interested in a cash loan, but you don’t know what offer to choose? Compare available bank proposals using the convenient Good Finance comparison tool.

Every month you will also find a new cash loan ranking on the site – thanks to which you will immediately know who is currently proposing the best terms.