The Difference Between a P2P Loan and a Regular Loan

11 Jul

Most people usually refer to a loan from a large bank or a loan from small non-bank companies. Newly, however, a very interesting and advantageous alternative has emerged on the Czech financial market, which makes it possible to obtain a loan in a completely different way.

These are so-called P2P loans, based on the fact that money is not given to you by your credit company, but it is borne by ordinary people who want to value their money. At the same time, because loans are covered by a registered and trustworthy company, neither of the two parties may be afraid of any fraud.

 

The difference between a P2P loan and a regular loan

The difference between a P2P loan and a regular loan

The basic difference is that when you borrow from a bank or a non-bank company, the money is provided by the institution. But with P2P loans, you get a loan from people who can take it, and if your desired amount is withdrawn from them, the money will be transferred to your account.

The company that covers and operates the P2P Loan will only receive a small loan fee from you, usually only about 2 percent of the total amount owed. Although everyone does not get the loan, there is a very high chance for most people who meet the basic conditions. Perhaps the most well-known mediator of P2P loans in the Czech Republic is Winston Loan Pro, whose offer will be looked at in more detail.

 

Basic facts about the loan

Basic facts about the loan

  • you can get a loan from 20 000 CZK up to 300 000 CZK
  • the minimum monthly payment is 507 CZK, its amount can be set according to your options
  • loans are repaid once a month by bank transfer
  • The repayment period can range from 6 to 84 months, depending on the loan amount and the installment amount
  • Winston Loan Pro offers 8 interest rates from 3.99% to 19.99%
  • the amount of interest you would receive is about 5 days after the non-binding request

 

The Greatest Advantages of Winston Loan Pro Loans

Loan Pro Loans

  • you can get far more favorable terms than a bank (or non-bank)
  • the fee for Winston Loan Pro is very low, only 2 percent
  • You can repay the loan prematurely at any time without any penalty
  • the loan is arranged online, through a very good website
  • Winston Loan Pro is absolutely serious and proven, has strong financial partners

 

Disadvantages of loans through Winston Loan Pro

Loan Pro

  • you must have your own bank account and prove your current earnings
  • you may not be insolvent, usually the reason for rejecting the application and execution
  • the loan is not fast, the settlement takes longer than with classic cash loans

 

Possibility of loan transfer

loan transfer

One of the innovations offered by Winston Loan Pro is the possibility to transfer the loan from elsewhere to Winston Loan Pro. So, for example, if you are repaying a loan and you are not satisfied with its interest rate, you can try to apply for a loan transfer to Winston Loan Pro to get a much better deal – since interest rates start at 3.99%, save even a very high amount.

 

Great opportunity to invest

Winston Loan Pro is not a great alternative only to those who need to borrow – they are also a new opportunity for those who have enough money and would like to invest a part of it. Of course, every investment carries a certain risk, but Winston Loan Pro is only minimal because of client requirements and a thorough check to see if the buyer is able to repay it. In addition, there is more investors involved in individual loans, so the risk of losing money in this project is really low.

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