MaxiCredit

What a MaxiCredit loan is

MaxiCredit is an online lending service offering longer terms than classic “payday” microloans: from 3 to 12 months. It suits those needing a more substantial sum over a medium term rather than just a few days to payday - for example, for a large purchase, repairs, or covering several sequential expenses that are awkward to pay off with one short loan.

Cost of the loan

MaxiCredit's real annual rate is 755.54%. The maximum loan amount is 40,000 UAH. Interest on the remaining principal accrues daily: 0.29% per day for new customers and 0.25% per day for customers who've used the service before. An additional one-time origination fee (a percentage of the amount) is charged, calculated individually on the calculator based on the chosen amount and term.

Since interest accrues daily on the remaining balance rather than the original amount, every payment made immediately reduces the base for the next accrual - favorable for those planning to pay off the loan early in installments. The difference between the new- and repeat-customer rates (0.29% vs 0.25% per day) also means reliable borrowers get somewhat better terms over time.

Terms and requirements

The loan term is a choice of 3, 4, 5, 6, 9, or 12 months, giving more flexibility than the fixed few-week period typical of classic microloans. Early repayment carries no fee - a notable advantage compared to short-term loans, where early closure doesn't always reduce the total cost. No explicit age or credit-history-check requirements are listed on the site, so final criteria are likely clarified during the application itself.

How to apply

Apply via the “Get a Loan” button on the site after calculating the amount and term on the calculator. The process then moves to an application form in the personal account, where you provide personal details and choose how to receive the funds. The detailed step-by-step process beyond this isn't spelled out on the page - some steps become visible only during the application itself.

Pros and cons

The main strengths and weaknesses of a MaxiCredit loan are worth weighing before choosing a term and amount on the calculator.

Summary

MaxiCredit stands out among microloans for its longer terms (up to 12 months) and no early-repayment fee, giving flexibility in planning payments. At the same time, the 755.54% real annual rate remains very high, so the loan is worth considering only after precisely calculating the full repayment amount on the calculator for the chosen term.