Launched in early March 2014 by Paydaynow, the reserved loan is a personal loan whose conditions are blocked for 6 months. It allows an individual to apply for credit, sign a contract and obtain an agreement in principle. So far nothing new, except that the funds are not transferred to the individual's account. They are put on hold for a period of 6 months, at no additional cost. Once the individual has found his car, his TV screen or a craftsman's best offer, he calls Paydaynow to have the funds released. The transfer is immediate because all the formalities have been completed before (signature of the contract, study of the file, legal withdrawal period, etc.). Note, Paydaynow indicates in its press release that it guarantees that the rate applied when the contract is signed will be the same as when the funds are sent. It is interesting for the consumer if the rates have increased ... but what if the rates have fallen in the meantime?
Paydaynow credit
Personal loans