Payday Loans in Lithuania

Payday Loans in Lithuania

Lithuania just like other European nations, it is an exciting place to work and live. It is a beautiful country with top-notch living standards. Even with the many job possibilities in Lithuania, there are times you will have a cash shortage. Financial inconsistencies face everyone regardless of the country. At times it is the inability to make ends meet or the emergence of urgent matters that need to be handled financially.

Anyone living in Lithuania can be faced with financial emergencies. That is where payday loans in Lithuania come in. These are short-term loans offered with an aim of repaying during the next paycheck. As such it means you must have a stable income before the lender gives you the money you so much require.

The payday lending market has been on the rise in Lithuania mostly because of the liquidity rise in the country. Between 2008 and 2009 accessing credit was pretty difficult due to laid out restrictions. Even though payday loans were on the rise during that period it was not for a good reason. There were many claims of irresponsible lending and extreme harassment due to late payment.

All in all, payday loans are still being offered in Lithuania just like in Croatia. Well, people still need money and no one knows when an emergency will next arise. In Lithuania, you will find several lenders offering loans online. That means any financial problem complex or not will be solved within no time. These loans have helped many people reason why they have not lost credibility in the market.

Payday loan lenders in Lithuania

Lenders providing payday loans both long-term and short-term in Lithuania can go a long way in solving your financial predicaments. What you will note about these lenders are the different interest rates they offer. Their terms and conditions for repayment are also not alike.  That means before you choose a payday loan lender in Lithuania it is critical that you look into the proposed terms extremely well.

Here are some of the payday loan lenders in Lithuania you can choose from depending on your financial needs.

Mokilizingas

Lithuania has some of the best payday loan lenders but Mokilizingas tops them all. Thanks to the convenience this lender offers more so if you are interested to borrow cash via leasing. What makes this lender unique is the MOKILIZINGO Cards that they give to their customers. With this card, you can withdraw cash from any ATM and you can use it to make payments. Mokilizingas processes loans through a self-service system that is quick to access and easy to use. Interestingly, if you pay your lease before the end of the following month, no interest will be charged.

Vivus Finance

If you require a large amount of money, Vivus is the payday loan lender you should consider. This fast online payday loan lender allows you to borrow up to 15000 EUR but not after a thorough financial check. You must also be employed with a regular monthly income. The disadvantage of borrowing from Vivus finance is their high-interest rates. However, if you manage to keep up with the repayments, the interest rate can be regulated. In addition, if a situation makes you not repay on time, you can ask for an extension.

Bobutės paskola

One time or the other we all have been faced with an urgency of cash. If this is your current situation, Bobutės paskola can come in quite handy. This lender offers money fast and quickly hence solving your money problem instantly. It is better to borrow small amounts from this lender because of their quite high-interest rates.

Bobutės paskola provides enticing offers that you can enjoy whenever you need to borrow some money. Besides that, this lender is not in the business of giving reminders when the loan repayment is due. You must be cautious so as not to pay high amounts of late payment penalties.

Paskolos

You can never go wrong with Paskolos especially if you are considering a variety of loans. This is exactly what this lender offers. You can get real estate loans as well as instant loans. You have the liberty of borrowing up to 100,000 EUR. What makes Paskolos interesting is you can postpone repayment more than 2 times. The catch here is you inform the lender a few days before the due date.

The advantages of payday loans in Lithuania

The number one advantage of payday loans is easy accessibility. Anytime you need instant cash you can apply online. Once the loan is approved, which takes a few hours, the money is deposited in your account.

Your loan will still be approved regardless of your credit history. Your financial past does not matter to the lender. As loan as you provide proof of employment, you are one step away from getting that money you so much need.

You need minimal requirements to qualify for payday loans. Other kinds of loans can ask for so much documentation but this is not the case with payday loans.  This is the major reason many people turn to payday loans.

The disadvantages of payday loans in Lithuania

To start with, payday loans are expensive. The interest rates are too high making the overall cost of the loan unaffordable. Therefore, even though the loans are meant to be a quick fix, in the end, they may not serve that purpose. As a borrower, you may even find it difficult to repay the whole amount of money you borrowed due to the high-interest rates.  

When you start indulging in payday loans, you will fall into a cycle of debt. This will hinder your financial growth because you will have to keep borrowing. People do fall into a cycle of debt due to the high-interest rates and fees. For instance, some people opt to roll over the loans which still means that you will have to pay more on top of your current loan. For others, they do take payday loans from one lender to pay another.