If you have seen in the television commercials that online loans are offered but you do not know their advantages and what requirements you need to request one of them, in this article we solve the main doubts.
They are not loans that require endorsement
It is about personal loans, so you do not need to have an endorsement, such as a home, to support the operation. That is, the fact of being covered by a personal guarantee implies that in case of non-payment you would have to respond with your present and future assets, as it is a generic guarantee, in accordance with the provisions of the Civil Code.
Therefore, what will guarantee the return of the loan to the lender is that you have a good financial stability. While that does not mean you should have a high salary or income, but in many cases it will be enough to collect unemployment benefits or other benefits.
Advantages of online loans
As established by the Bank of Spain, the main advantage of these loans is their speed since the procedures and the necessary steps to obtain them are very small. In addition, online credit platforms are equally fast, both in the response and in the concession. Thanks to this, you can get a small amount of money online without much effort.
The other great advantage is that they are confidential as they are non-bank loans. That is, the notary, the bank agents and the property registrar do not intervene, among many others that would intervene, for example, if you applied for a mortgage loan.
Also, you do not need to change banks. Once the loan is granted, we proceed to deposit it in the account you indicate. Therefore, the procedures are so simple that they are granted by providing a copy of the first page of the bank account or a certificate of the same, as well as your last income and your ID, passport or residence card.
They are loans that are returned at one time
These online loans do not usually exceed the barrier of one thousand euros and allow you to reimburse them in a maximum period of between thirty and forty five days, through a single payment that includes both the return of the capital and the payment of the agreed interest.
For example, if you need a loan of three hundred and fifty euros and you decide to return it in two weeks, you would have to pay interest on the return day, which would not reach fifty euros.
In short, the platforms that lend money in these conditions are intuitive and fast in customer service, favoring that when faced with a need you do not have to go to the bank because online loans are designed to solve specific problems or make an initial payment and hire holidays. It’s up to you.