Previously when a person needed access to financing to buy a car, solve the reform of their home or for any other purpose, the most common was to go to a bank to apply for a loan.
Today, however, and thanks to the great popularity of the Internet and digital technology, it is possible to find a wide range of financial products that do not require so many paperwork and much less paperwork.
What are online Credits in the Act
Now they are easily accessible from wherever you are thanks to the Internet. These are financial products that the user can easily obtain without having to leave home. They are online loans that are granted practically on the spot and allow access to fast financing without so many requirements just by filling out a form from the PC, a tablet or a mobile phone.
Through this type of Internet financing, people can access a fast loan or credit online of up to $ 1200 in a matter of 10 minutes, of course when it comes to mini-loans. If it is an online loan, then you can access financing that reaches $ 40,000 to be paid within 24 to 48 hours.
It is important to mention that in most cases, the procedure to request a personal loan on the spot is the same on all the websites of financial companies that offer them. As we indicated, when accessing the site we find a loan simulator where we can easily know the characteristics and conditions of the financing we need.
How to apply for personal loans on the spot
Obviously each company will have its own minimums and maximums in terms of the amount of financing that can be accessed. For example, it may be the case that we find an offer where the minimum loan is $ 3,000, while the maximum is $ 50,000.
The months to return it can be from 3 to 48 and we can also specify the term in which we want to pay off the loan.
Steps to follow to hire Online Credit
Usually you are given options to specify the purpose of the loan, which may be the purchase of a new car, renovations and home, debt reunification, studies, travel and leisure, health, etc. If you want to modify something, such as the amount or the repayment terms of the loan, that will be the right time to do so before continuing with the application process.
When you specify an amount and the return period in the simulator, we will automatically be shown the monthly payment we will have to pay, as well as the total amount due. For each of these credits and loans online, the TIN and APR apply, which are concepts established by the Good Bank in Spain and are therefore official..
If the characteristics of the loan, including amount, repayment terms and monthly installments satisfy you, then you can proceed to apply for the loan online. You can usually find a button with the caption “Request” or “I’m interested”, which clicking on it directly takes you to another page where you can set up your loan.
Then you will have to provide your contact information through a simple form where you must indicate your name, surname, sex, ID / NIE, email address, mobile phone. It is also common that you have to provide personal, professional data and in some cases you may be offered an optional payment protection insurance.
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The process to apply for loans and loans online concludes with the signing of the contract, as well as with him sending documents in case they are required.
Verification of the data
Of course all the information you provide must be true so that you have more opportunities for your loan application to be accepted. The financial companies that offer this type of credits and loans online must verify precisely, that all the data that you have entered is true and for that reason it is common that they require the sending of documents by means of the electronic mail.
This process usually does not take long, so within 24 or 48 hours, you may be receiving confirmation that your application has been approved.
Requirements to apply for Online Credits in the Act
These types of loans do not ask for very demanding requirements compared to those that can be requested by financial institutions, which makes it a very attractive financial product since the conditions that we have to meet depend on each private lender, although they all follow a general line.
In this case, they require the following requirements:
- Be of legal age: the age limit may vary depending on the website on which we decide to make the request. This limit may be 18 years, 21 or 25.
- We must have our residence fixed and permanently in national territory, that is, for this type of loans we need to have.
- We have to have enough income to meet the credit repayment; The more regular the better for us and for the private company to speed up our request even more.
- Not having debts or appearing on any type of delinquency list: it is true that there are loans for people who appear in this type of delinquent lists, but these are not such mini-credits, although if our debt does not exceed 1000 USD or a maximum established by the company, our request may be accepted.
How long does it take to receive the credit
Once everything has been confirmed and the online credit application has been a success, the financing company will proceed to transfer the money directly to your bank account that you have previously specified in the form.
As mentioned at the beginning, if it is an online mini-loan, it is possible to obtain financing within a period of up to 10 minutes. In case of being a fast online loan, the term of sending the money can be between 24 to 48 hours after the approval of the same is confirmed.
Advantages of online loans and loans
These financial products are characterized by their simplicity, speed and convenience, since the user does not have to physically access the offices of the financial entity or company to make the request, much less perform a large number of procedures.
- Quick and easy procedure. As wines previously, applying for loans and loans online is a hassle-free process that is completed in a few minutes. The form can be filled in without any hurry at any time of the day using the PC or even a mobile device since only Internet access is required.
- Without so many paperwork or paperwork. It is not necessary to do so many paperwork and not provide a large number of documents. There are even online tools that can be used to verify the data provided and ultimately, users can simply photocopy a couple of documents and send them immediately via email.
- Minimum Requirements Online loans and credits are also characterized by having virtually no requirements or at least not like those required in banks or savings banks. In some cases even people can get online loans with Financial credit institutions without collateral, without payroll or without pension. In other cases, the most that can be required is that you have a proof of income to verify that you have financial solvency.
- Greater flexibility It is also something characteristic in this type of financing that financial companies allow the repayment of the loan in advance of the established term, which is a great help for clients since that way they can save money by avoiding paying interest. It is also possible to access extensions to repay the loan beyond the agreed deadlines.