#### We show you the best payday loans below 10 percent

A few years ago, only mortgages had interest rates below 10 percent, but nowadays we can get loans for up to 8-9 percent without real estate collateral. At any time, there may be a situation where we need a few hundred thousand or even millions of loans and need a relatively favorable credit facility. We show interest rates below 10 percent on payday loans.

The central bank base rate is declining at its current value of 1.20% and, as a result, interest rates on loans are falling. Nowadays, even with payday loan offers, we can meet the magic below 10 percent interest rates. We have compiled which payday loan offers are currently available at such low interest rates.

### Easy access to credit, predictably

The interest rate on SMN’s senior payday loan is 9.99%, so this value is just below the magic limit. The amount of the loan that can be applied for is HUF 1-7 million, the maturity is 24-84 months, the APR is 10.46%. To qualify for the loan, you must have a proven monthly net income of up to $ 250,000 from up to two wages and a minimum of three months’ employment. Thus, SMN Bank does not impose hard-to-reach terms on loan applicants, as the income requirement for a two earning family is relatively easy to meet.

We also looked at the total repayment amount for three different maturities when offering a SMN payday loan. If you take a $ 1 million loan over a 5-year period, you will have to repay a total of $ 1,274,527 for every $ 21,242. The same loan amount is repaid in case of a 3-year maturity in a total amount of HUF 1,161,450, in installments of HUF 32,262. And if the $ 1 million payday loan is repaid in the shortest term, that is 2 years, you have to pay back a total of $ 1,107,367 in $ 46,140 installments.

It is clear, therefore, that the shorter the maturity, the lower the total amount to be repaid. However, if you choose a shorter maturity, the monthly repayment will be higher than it would be for longer maturities. It is important to note that the loan installment is fixed throughout the term, so we have to pay the same amount in the first month as in the last. This way we can calculate in advance the amount of credit and the maturity of the loan. An additional benefit of the SMN Preferred payday loan is that it can be applied for at no cost.

### Career advancement opportunities

The BIC Advance payday loan is provided by the bank at an interest rate of 8.9%, with a potential maturity of between HUF 500,000 and HUF 5 million, maturity 12-72 months, APR 9.41%. In order to receive this loan at such a favorable rate, you must receive at least HUF 250,000 per month in your bank account.

If you want to charge $ 1 million for 2 years, you will need to pay back $ 1,069,694 in monthly installments, up to $ 45,696 by the end of the term. The monthly installment of the loan is fixed throughout the life of the loan, so this loan may not suffer any unpleasant surprises as a result of any interest rate increase.

Just to be interesting, there is a version of the BIC Advance payday loan where the interest rate is only 7.9%, but you need to be a Magnifica Business Partner. This is subject to BIC having at least $ 9 million in savings or at least $ 450,000 in monthly credit to our bank account.

### You can even buy a loan

The Debroad Bank Now Extra payday loan has an interest rate of 9.5% and a APR of 11.51%. The maturity is 18-72 months and the loan amount can range from HUF 500,000 to HUF 5 million. To qualify for a payday loan, you must have a minimum income of $ 250,000 and a minimum of 1 year of employment. A further condition is that during the entire term of the loan our income will be credited to a bank account held with Debroad Bank.

If you want to charge $ 1 million for 2 years, you will have to pay back $ 1,116,748 in monthly installments of $ 45,914 until the end of the term. The monthly installment of the loan is fixed during the 2 year maturity period, but if you choose a longer maturity, you have to bear in mind that the interest period may change after 3 years, ie after 3 years.

You can also use this loan to redeem a loan, such as a payday loan, a free use mortgage, a car lease, a car purchase loan, or a credit card debt issued by Debroad Bank. An additional condition for redeeming an existing Debroad bank loan is that the loan amount disbursed must be at least HUF 1,000,000 more than the amount to be redeemed.

### Using a card for a lower interest rate

The interest rate of the Budacless bank payday loan with Premium Loan Account is 9.9% and the APR is 10.5%. The maturity can be 6-48 months, the loan amount is from 800 thousand HUF to 6 million HUF. This loan requires a minimum of 3 years’ employment or entrepreneurial history. Additional eligibility requirements include a regular monthly credit of at least $ 500.

In order to take advantage of the discounted credit facility, you must open a Premium Plus (PP1) account package at Budacless bank and purchase at least HUF 30,000 a month with the corresponding credit card. The annual fee for a credit card will therefore be a few thousand forints, depending on the type of card we require for your Premium Plus account plan.

If you would like to borrow a HUF 1 million payday loan at Budacless bank for a period of 2 years, you will have to pay back a total of HUF 1,115,712 in monthly installments of $ 46,488 until maturity. The loan installment is fixed throughout the term, so we pay the same amount from the first month to the last.

### More options below 10 percent

In the case of the Bankate Loan, it is possible to keep the interest rate of the loan below 10 percent, but this requires a longer maturity and a higher loan amount. For example, if you were to raise $ 3 million for 4 years, the interest would be 8.74% and the APR would be 9.10%. Over the course of 4 years, a total of $ 3,565,773 is to be repaid in monthly installments of $ 74,287. Unfortunately, these details may change over the course of the term, as the borrowing rate is variable and is linked to the 12-month BUBOR as a reference rate and recorded at 3-year interest rates.

Applying for a loan requires proof of a minimum monthly net income of HUF 110,000 and your bank account number, as Bankate does not have a bank account. Learn more that the credit assessment fee will be released by June 30, 2016.

Finally, there is another payday loan offer that also has interest rates below 10 percent, but only in the case of a very high loan amount of more than $ 4.5 million. This is Mitibank XXL payday loan with A1 Debt Rating, which requires a monthly income of up to $ 300,000. Disbursement of the loan is conditional on the loan being recorded in a notarial deed and presented to the bank. This is how we can get a payday loan at 9.99% interest rate from Mitibank.

In order to choose the most suitable loan for you, it is always worthwhile to review the bank quotes in a comparative calculator so that we can borrow at the best possible conditions.