Fast and short-term non-bank loans are among the most popular credit products and it is no wonder that new providers are constantly appearing on the market trying to take advantage of the so-called payday loans. One of the new companies that appeared on the Czech credit market is Hinkle FUNDS, a joint stock company that has decided to reach potential clients with a Hinkle loan product. What does this loan offer and for whom is it intended?

The Hinkle loan is a typical example of the so-called SMS loan, or short-term and fast loan, which is provided only in smaller amounts. In this particular case, it is a micro-loan from CZK 3,000 to CZK 7,000, with the first time you can borrow a maximum of CZK 5,000. The maturity is from 10 to 30 days, the shorter the maturity, the cheaper the loan. As with other similar loans, the arrangement is only possible online through the website.

Only Czech citizens over the age of 18 who have their own bank account can obtain the loan, and of course, they are not allowed to execute or be insolvent. To process the loan, it is necessary to upload the copied documents, including the account statement, and the registration fee includes a CZK verification fee. Even with the extension, the Hinkle loan works similarly to competing products – each client may postpone the payment after paying the appropriate fee. The interest rate is 1% per day, while the APR is relatively high. What is very important – the loan is absolutely safe and there is no risk of fraud.

Easy payday advance direct lenders only

It is very easy to arrange payday advance direct lenders, we will now advise you at this original link¬†how to do it. First, prepare all the documents and documents you will need to process. Specifically, it is necessary to have two valid identity documents – identity card and one more personal document (it can be, for example, a birth certificate, an insurance card, a firearm license, a driving license or a passport). Next, you will need a current statement from your bank account and that’s all – no other documentation is required. If you have everything ready, you can start submitting your application.

Extending the loan maturity

You can also request a credit extension in the client zone. Its maturity can be postponed by up to 30 days, but first, you have to pay one percent of the loan amount for each day you want to extend the term.

New clients cannot get loans over CZK 5,000; the first application is CZK 5,000. Once the first loan has been properly repaid, it is already possible to obtain a higher amount. You can set the loan amount to 100 CZK, then the maturity to one day – the specific amount of APR and interest can be easily found in the loan calculator on the Hinkle loan website.

What documents or documents will I need to process the application?

You will need two personal documents, the first of which must be your identity card, the second one must be a passport, birth certificate or driving license. Prepare a bank statement from your documents.

Can I send the money to someone on my family’s account? Unfortunately, I don’t have my own account.

No, the loan is paid exclusively by transfer to an account, which must also belong directly to the loan applicant. So no one in relatives or friends can send money in this case.

I have no money to repay – what can I do? Is it possible to extend the loan somehow?

Certainly yes, the deferral is not a problem at all. The maturity of the loan can be postponed by one month, but first, you have to pay one percent of the loan amount for each day you wish to extend it. You will be deferred immediately thereafter.

Is it possible to repay the loan in any other way than by a classic bank transfer?

Yes, this is the Pay Pay payment gateway again. If you pay through it, the money will be transferred immediately, without undue delay. In addition, the payment gateway allows a variety of different payment methods, including Supercash, which are supported by, for example, Sazka terminals.

What is the interest or APR on the Hinkle loan?

The interest rate is always uniform and, regardless of the loan amount or maturity, it is one percent a day. As for the annual percentage rate of charge, depending on maturity, it ranges from 2334% to 3142%.

Final evaluation

The Hinkle loan is a quick loan that will surely find its clients. Its main advantages include the very fast payout of money to the account through the use of The Pay payment gateway, the possibility of extending the loan, convenient negotiation over the Internet or a clear website where you can easily find all the important information. On the contrary, the disadvantage is especially the high APR, so the loan is very expensive especially for higher amounts. In addition, new clients can only borrow CZK 5,000, which is too little for many people. Overall, however, a Hinkle loan is not a bad product and can be useful as an emergency solution when you need quick financial assistance. But it is not worth taking it on a regular basis;