I need 200 dollars and don't care about the interest rate at all I would pay them back 200 extra if I can get a loan this Monday. But what banks are easier when giving out loans does credit matter? And what about to students would they consider a no if your a student? Am 19 in college.
2007-06-23 15:34:50 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Banks won't give loans to you unless you are a customer of theirs or you have a high credit score. Problem is... it takes a while. They won't do it in one day. The best bet for money like that is the Credit Union. They will loan it before the bank. Some people's jobs have a hardship fund where they loan you money. Just check your options carefully. Don't jack your credit up behind this stuff like I did. Please. Nowhone else will tell you that but in the long run it can get ugly if the loan is not paid back as required.
2007-06-23 15:38:03 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Banks don't loan money to just anyone. You have to have good credit and a job. Even if you do have good credit and a job, banks don't loan small amounts like $200. Check cashing businesses do what's called a payday loan, but typically you have to pay it back within 15 days and the interest rates are awful.
2007-06-23 15:51:00 · answer #2 · answered by Jose 4 · 0⤊ 0⤋
A bank is out, but here are some suggestions, from best to worst:
Borrow the money from a friend or relative.
Since you're a student you should visit your Financial Aid office. Many schools have emergency loan programs for small amounts such as yours.
If you have a job, you can get a payday loan.
If all else fails, find a loan shark.
2007-06-23 18:49:44 · answer #3 · answered by greymatter 6 · 0⤊ 0⤋
You have to go in and apply for a loan and most likely have an income or a co-signer they want to know how they are going to get their money back. $200 is a small amount. They may not loan that little you should contact your bank. And YES credit matters.
2007-06-23 15:43:18 · answer #4 · answered by i_b_winkn_at_u 6 · 0⤊ 0⤋
Banks don't have to give you loans, but $200 isn't much. Most banks will give you that as a signature loan to help you build your credit. Just go to whatever bank that you or you parents usually use. And remember to stay away from the payday loan places, because they will screw you.
2007-06-23 15:44:05 · answer #5 · answered by Jamie 4 · 0⤊ 1⤋
As a guarantor(er), in the event that this 'known' person cannot pay, icici bank can run after you for payment of the loan. You will not contribute to the payment of the loan in the future as long as the borrower (or this known person) pays and is still able to pay... You must be prudent in guaranteeing loans for a person. Make sure he has good credit standing and has enough assets to pay for the loan in the event that he cannot anymore pay.
2016-05-18 22:55:52 · answer #6 · answered by beckie 3 · 0⤊ 0⤋
If I were a banker, I'd tell you you need to learn a lot more about it before my bank would give you a loan.
2007-06-23 15:39:41 · answer #7 · answered by Liam M 4 · 1⤊ 1⤋
Have you applied for a credit card?
2007-06-23 15:42:18 · answer #8 · answered by hottotrot1_usa 7 · 0⤊ 0⤋