Read in Between the Lines Before You Opt for a Short-term Loan

Short-term loans have gained massive popularity in Canada over the past few years. Several financial institutions are nowadays offering robust cash loans Canada to the consumers to cope with uncertain expenses. The major benefits of this particular type of loan are:

  • Minimum documentation
  • Hassle-free application process
  • Faster disposal of money
  • Competitive interest
  • Flexible repayment tenure

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Despite such advantages, many people fall victim while repaying their cash loans Canada. Blaming the financial institutions are of no use, as they have their own sets of rules. So, to have a smooth loan repayment process, the borrowers need to pay heed to some important factors that the lenders don’t say often.

For those who are contemplating the fine print, move on to get a detailed overview:

  • Look for the Penalties

Lenders often impose fees on the factors like early or late payment, part pre-payment etc. Some of them even charge extra bucks from the borrowers who decide to repay their loan before the stipulated time. So, people must go through the terms and conditions vis-à-vis with the extra fees before taking the cash loans Canada.

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  • More on APR & Other Rates

Both for the initiated and uninitiated, APR is the total amount of interest which a borrower has to pay annually. Considering the current market condition, the annual percentage rate varies. Therefore, borrowers sometimes end up paying extra on this interest than expected. It is always advisable to have a comprehensive view between exact APR and representative APR. However, the good part is that the FCA recently has set a cap on APR by 0.8% per day.

  • Availability of Other Options

People often go by the recommendations when it comes to taking a short-term loan. Some even prefer to stay with their associated banks to get hold of the money. Thus, they miss out on major facilities and advantages. The users must look for better alternatives before signing the final deals. There are several comparison sites in this digital-first world which help the applicants for choosing the best lenders. Many Fintech companies offer short-term loan at a competitive interest rate. So, with a little research with the aid of comparison sites, the borrowers can save a substantial amount of money.

  • Importance of FCA

FCA, also referred as the Financial Conduct Authority are there to shield borrowers from any of discrepancy during the process of loan repayment. A good majority of the borrowers are still unaware of their existence. So, the applicants must consider the basics of the FCA if not the entire content to do away with any unfavorable situation.

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  • Credit Score and More

Moreover, the applicants must have the knowledge that they can hurt their credit score with multiple loan application. With every application, the financial institution asks for the credit history and score to the credit bureau. The crestfallen credit history is detrimental as it imposes a borrower to be credit hungry. Thus, he can face hindrance on getting future short-term cash loans Canada.

So, a borrower needs to consider all the factors mentioned above to enjoy a hassle-free loan application and repayment procedure.

5 Economical Tips to Follow While Buying Silver & Bullion

Investing in silver and bullion has become one of the most trending moves amongst the investors. People are going frenzied on buying silver coins and bullion bars in recent times. Regardless of the market conditions, they prefer to buy silver because of its resale value. Moreover, silver is one of the most used industrial commodities. From photography to paraphernalia, medicine to electronics, silver has a gamut of uses.

Hence, infusing money in silver is definitely a good decision. If you are planning to buy silver, you should master a few tactics to maximize your return on investment.

buying silver

  1. Buy in Bulk

Intelligent investors always have a tendency of buying silver in bulk. The main reason is purchasing a good quantity of silver from a specific merchant makes room for price negotiation. Therefore, if you buy silver in bulk, you have the chance of acquiring the material at a markedly lower rate. The more the number of silver coins, the more will be the upfront discount.

  1. American Silver Eagles Make Good Option

American Silver Eagle, also known as ASE is the official silver bullion coin of the US since 1986. These coins are one of the cheapest one available in the market. People of different walks of life put in their money in this particular type of silver. The major advantage is these coins are readily available from the bullion distributors and coin dealers.

According to the trend, the newer Silver Eagles are cheaper than that of the older ones. The old silver coins are designated with a higher price tag because people with numismatic interest buy them. So, in accordance with your needs and requisites, buy the best one that fits your bill.

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  1. Junk is Justified

Junk silver bullion in the form of coinage can help you have the superior purchase. The junk silver coins are one of the cheapest materials with good value for money. You can common 90 percent silver dimes, quarters, and half dollars even when there is a cash crunch in your life. The coinage typically includes the following types:

  • Silver Washington quarters
  • Roosevelt Dimes
  • 1964 Kennedy half dollars
  1. Opt for Art Bars and Silver Rounds

Art bars and silver rounds are one of the most popular duos on the planet of silver. These have the lowest premium when compared with the standard coins. In fact, these are even cheaper per ounce than ASE. You can get the coins from both the bullion distributors and coin dealers.

  1. Look for Offer

Needless to say, offers and discounts on coins are true delights for any marketer. Hence, look out for attractive discounts or special deals before buying. Conduct thorough research and opt for the best dealer with maximum discount.

Consider all these points mentioned above before you buy silver. Following these hacks will definitely help you save a lot of money increasing your profit margin. So, what are you waiting for? Get started!