Interest free on your first loan – Apply in 5 Minutes

A no-frills and interest-free first loan means an instant draw that you can repay in full within 14-30 days at no cost. The benefit is only valid for new lenders at the time of the first loan. The Free Period does not accrue interest, but after the Period, you pay the standard service charge and interest. So a first loan is a useful benefit when you need a loan for the first time.

Apply for a non-interest bearing first loan here

Apply for a non-interest bearing first loan here

You do not need to put a separate check box or apply for a first loan separately. The benefit is automatically valid when you apply for a loan from the services below.

What is an Unsecured First Loan?

All services that offer a non-interest bearing primary loan are unsecured loans. This means that you do not have to pledge against any loan or use any security to secure the loan. Unsecured loans are therefore smaller than secured loans, but it is also easier to get a loan and get a loan faster.

The normal interest rate on unsecured loans is also higher because the loan carries a higher risk without collateral. Therefore, unsecured loans are usually expected to be repaid quickly.

Applying for a first loan at no cost is quick and easy

Applying for a first loan at no cost is quick and easy

Since the first loan is automatically granted to new customers, applying is easy.

  1. Click on the “apply for loan” button in the table for a suitable loan and you will be taken to the lender’s website
  2. Choose your loan amount and sign in with your online banking credentials
  3. Fill out your loan application in minutes
  4. You usually get the loan decision within 24-48 hours
  5. If so, you can reject or accept the offer and the money will be credited to your account.

If you are not sure whether the benefit of a first loan is yet to be used for that service, you can contact the lender’s customer service. Some services include free customer service and some charge a fee.

What’s good to know about first time conditions?


The first loan is subject to the terms of a normal instant loan with one exception. During the free period, the loan does not accrue interest or expense. So, if you pay back the loan within the deadline, the loan was a so-called. Express. Thus, the normal terms and conditions of a loan take effect immediately after the end of the loan period.

Requirements for a non-interest bearing first-time loan from an instant lender

If you borrow money from a loan service for the first time, you are eligible for the benefits of a first loan. If you have already borrowed money from this service before, the benefit is not available. However, if you have only applied for a loan in the past, but your application was rejected or you yourself rejected, you can apply for a loan again and you are still eligible for the benefits of the first loan.  

The applicant must be at least 18 years of age. Depending on the service, the applicant may also be required to be a parent. See the table for age requirements for different loans. You must have access to your online bank and account number in order to be certified and to transfer money to your account.In many services, you must either have enough income compared to a loan or at least have enough property to qualify for a quick loan.

The limits of each service are slightly different, so it is a good idea to apply for a loan in more than one place at a time and then accept a suitable offer. A credit default sign almost certainly means that you are not getting the benefits of a first loan for yourself. Each outstanding loan will have its own credit default entry if the loans have not been paid despite reminders. Credit interruptions are generally valid for 2-4 years.

The interest-free loan period of the first loan is limited

All free initial loans have a non-interest and expense period limited in time. The free period can last from 14 days to 1 month. After that, the normal terms and conditions of the instant loan will take effect and the loan will accrue the normal costs and interest of the borrower of your choice.

It is usually not possible to apply for a loan for a free period only in the first mortgage services, but you have to apply for a loan longer even if you pay it off faster.

Depending on the lender, you can choose, for example, a repayment period of 3-24 months when applying for a loan. Even if you repay the first loan within the free period, you do not have to pay any extra cost or compensation to the lender.

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