The self lender is a company with financial technology aiming to assist people to create credit, especially for those who don't have utilized any financial products till now. They make this possible by giving our credit-builder account which is a partial loan to help people for building an excellent payment history.
Execution of Self Credit builders:
It is easily accessible and prompt. It hardly takes 12 to 24 months for a good plan after you get agreed. In these months, you create credit by paying the money, and afterward a lump sum saving is ready for you after final payment by you. It's mandatory a credit to you which would enable you to build your credit score.
- Eligibility Criteria:
The practice aspect that no one gets refused centers and until they have a case of money laundering on the record.
- Requirements for payments:
If you want to sign up for this account you would have three options for payment which are debit card, credit card, or bank account. Among all the options bank account is the most convenient and preferable option.
- Minimum income:
No matters, what you might be earning or earning regularly you can access a self account if a monthly payment plan is affordable for you. So this is an excellent aspect for a self-lender that no minimum income regularly is required.
- Maximum limit for my credit score:
Everyone's credit history is not similar so your score can be anywhere from 20 to 200 points. So, your maximum limit can be different from others.
- Insurance given:
Yes, the self-lender is insured for your safety and security. Every person wants to save money but in a very secure and safe manner so that their future can be secured enough when they invest in any plan. Warranty/ guarantee is expected by the customers when they invest somewhere even for the little amount they deposit. So, insurance provided by self credit builder is a positive aspect as they assure you guarantee of genuine insurance.
- Accessibility/availability of self credit:
It is available online and on mobile apps too in so many different regions which proves that it is easily accessible for all people worldwide (for those who are using smartphones). It means if you're willing to avail the opportunity there is no hindrance to going ahead.
- Free of cost accessibility:
The creation of a self account is free of cost in a self credit-builder account but you have to go through all the terms & conditions before availing of this plan as prevention is always better than cure. Although it is free to access you still have to go through the terms & conditions mentioned by the company before availing of any offer.
We can say that Self Credits builder/Self Lender is the best option/solution available for building credit on your own and for your own in this modern era. It is best for boosting your credit score which is a boon for genuine people who are seeking for good credit score but don't have it because of a lack of transactions.