Online Loans: Features and Costs, Should It Be Requested On The Web?

When we talk about online loans we refer to loans that we can access directly from the Internet, without the need to go to the bank or finance company.

You can apply for a loan online in a simple way, without wasting time and without excessive paperwork and bureaucratic procedures, to get the amount you need almost immediately.

There are now so many banks, institutes and financial brokers that offer you the possibility of accessing loans online, with a whole series of advantages that we will illustrate to you in the course of our guide today.

You will find a review that will identify the strengths and weaknesses of these systems and also more strictly procedural questions: how to apply for loans online? Are there formulas for bad payers, for those who have not guaranteed, for those who are protested or do not have a permanent job?

What are the differences between online loans and classic/traditional loans?

What are the differences between online loans and classic/traditional loans?

The Internet has had the great merit of opening up the market for loans to everyone, making it at the same time more immediate and faster , less expensive and with the possibility of immediately comparing practically all the present offers, to identify those that offer the cheapest interest rate. and the method of return in installments more suited to our needs.

The differences between online and traditional loans are different:

  • online loans are cheaper : competition between banks is more fierce and therefore the conditions, costs and interest rates required are more competitive, for the exclusive benefit of the consumer, that is yours;
  • online loans are faster : in the case of small loans, 24/48 hours are sufficient to obtain the loan we need; in all other cases the times are however much more limited than those required by the traditional loan;
  • Online loans are more practical : because the procedures are faster and above all because you can carry them out directly from your computer, without having to necessarily go to the branch. A considerable savings in terms of time and hassles that you should definitely not ignore when you need liquidity.

On balance, online lending has only advantages over traditional lending.

How to find the best loan online for your needs

How to find the best loan online for your needs

Let’s get more specific and find the best ways to choose the online loan that’s right for you. The two fundamental values ​​you will need to consider are the following:

  • TAN: which stands for Nominal Annual Rate – indicates the effective interest that we are going to pay, on an annual basis, on our loan; however, this is not the most important value you will need to check;
  • APR: is the synthetic index of costs, or in percentage how much you will spend for the loan, including interests. It is the true greatness that you will have to compare to find the best loan online for you.

In order to find the cheapest loan, you will have to compare the APR between the various loans offered by banks and finance companies. With online loans, you can instantly compare hundreds of offers , so that you have a precise and accurate picture in just a few seconds.

This is one of the other advantages of online loans that we encourage you to consider for your choice and your needs.

How to apply for a loan online

How to apply for a loan online

Once you have used the comparator you can click on BUTTON and wait for the reply from the bank or financial institution. You will need to fill out a form, in which you will enter the information requested on your account.

The banks generally respond within a few hours, allowing you, in the event of a positive outcome, to obtain the sum you need less than 2 days.

The data requested are the following:

  • Identity document;
  • Fiscal Code;
  • Information on income.

Banks also allow you to monitor approval minute by minute through their sites.

Requesting a loan online is a very simple procedure, and infinitely faster and more agile than those required by traditional banks.

Are there online loans for bad payers?

Are there online loans for bad payers?

It is worth mentioning that the online loans sector operates according to the same rules as the traditional one, in the branch.

If you are a bad payer, you may therefore have trouble getting a loan, whether online or not, because for the banks you will be less reliable and fundamentally a more risky customer than those who are not bad payers.

It is not impossible: in fact, under certain conditions, you will be able to get an online loan even if you are a bad payer.

The sale of the fifth for bad payers

The most interesting mode (and the one that most frequently works) is the assignment of the fifth . Even if you are a bad payer, you can access loans online and not with a system that allows the bank to retain 20% directly from your pension or salary.

This type of loan is offered by virtually every bank, and you can also subscribe online, and above all even if you are a bad payer or you are protested .

Loans for protested

Loans for protested

The same speech just made applies to those who are protested and obviously have difficulty accessing loans online and not. You can access credit by taking advantage of the salary or pension transfer system.

Online loans without a permanent job

Online loans without a permanent job

Online you can also get loans if you don’t have a permanent job. In this case it is essential to analyze the duration of the online loan that we are going to request.

In the event that the duration of the loan should be less than that of the fixed-term contract, the banks should in no way make any stories or problems.

You can access online loans for fixed-term workers, including by comparator and by choosing between convenient loan methods, with interest rates and low fees.

Is it worthwhile to make a loan online?

Today the online loan is the best way to get the liquidity you need to get started, to close an old debt or maybe to set up on your own.

You have extraordinary possibilities at your disposal, with rates and expenses up to 70% lower than those offered by non-online banks.

What is your ideal credit score?

The Credit Score in Mexico is proposed by the Credit Bureau, many people are looking for how to get out of the Credit Bureau, but being part of it is not always a negative thing, what’s more, one as an individual or company can increase their chances of financing by being in the Credit Bureau but having a positive Score.

The credit score measures your behavior in your payments and your financial responsibility, a person with a disciplined credit portfolio is better than a person who is a ghost for financial institutions.

Factors that affect our Credit Score

Factors that affect our Credit Score

Your Credit Score is a number that affects your daily life in ways you may never have imagined. More and more companies are beginning to verify their Credit Score to make decisions.

Your score is used to set interest rates on credit cards and loans, even to decide if you get approval for them and other financial products.

Given its importance, it is key to know what factors affect the credit history and credit score.

1. Payment history

Although it may not seem like the payment history is the number one reason for rejecting loans if our history is negative, therefore, it is also one of the fundamental and most important reasons to take care to increase our Credit Score. The payment history makes up the total of 35% of your credit score in Mexico, the reason is that an untimely or late payment can mean that the person has financial problems that can not be faced, and in the best case, If you have the possibilities but you are dealing with an irresponsible person or one who does not treat your earrings with importance.

Therefore we must avoid getting into problems such as cancellation, collection requirements, bankruptcy, repossession and execution can devastate your credit score, so it is almost impossible to get approval afterwards for any product that requires a good credit score.

What to do?

You will be asking yourself what you can do to avoid misbehavior, it is simple, the best thing you can do for your Credit Score is to make all the payments on time each month, you will keep a better control of your finances and your Score will wind aft.

2. Debt level

2. Debt level

The level of the debt is the second most important factor, only 5% below the payment history is 30% of your credit score, together they have more power over your possibilities of requirement. The credit score calculations analyze some key factors related to your debt: the amount of debt you have in general, the proportion of credit card balances to your respective credit limit and the ratio of your loan balances to the amount original of each one.

What to do?

Although maintaining a good credit history is good for increasing your Credit Score, if you keep your consumption too close to your limit, even if you are making the appropriate payments, it will be seen as a risk factor for banks and financial entities that do not grant your credit. We loan for fear that you will fall into debt. Having high balances or too much debt can affect your credit score. The good news is that your credit score can improve in this area if you cancel the balances.

3. The seniority of your credit history affects your credit score

credit score

The history is 15% of your credit score and considers both the age of your oldest account and the average age of all your accounts.

Having an “old” credit rating is better for your credit score because it shows that you have a lot of experience managing credit. Opening new accounts can reduce your average credit age. For that reason, it is generally not a good idea to open several new accounts at the same time. You should also take into account that the card must be used, take out a credit card to increase your loan possibilities but not using it will not help at all and in the worst case, it will reduce your credit possibilities.

4. Variety in types of credit

There are three basic types of credit products:

Credit cards

Revolving accounts

Installment loans

Having types of services on your credit report is better for your credit score because it indicates that you have experience managing various types of financing. The types of credit are only 10% of your credit score, so not having a certain type of credit, for example, a loan, will not devastate your credit score.

5. Credit inquiries

Every time you make a request that requires a credit check, a call is made on your credit report. Keep your applications to a minimum to preserve your credit score. If you really need a loan, we recommend that you try to check with companies that provide loans without a bureau to avoid these queries.

The consultations represent 10% of your credit score. One or two consultations will not hurt much, but several consultations, especially in a short period of time, can cost many points.

The good news here is that only the inquiries made in the last 12 months are taken into account in your credit score. Queries fall from your credit report after that period.

How to know what is my Score?

My Score is a service by the Credit Bureau with a cost of $ 58 pesos, to perform your examination you can go to this link My Score. Remember to have on hand the information about your credit accounts (even if you do not use them) and details of any loan, mortgage or automotive of which you are a part.

The system of My score will offer you your number, you will be able to compare yourself with the rest of the Mexican population and in addition you will receive new advice in addition to those that Robinson Crusoe has brought in this installment for you.

Instant Online Loans: Guarantees, Rates and Procedures to Follow

How to get instant online loans ? To whom to turn to get the sum that would allow us to return to breathe, to make that purchase that we have been postponing for too long, or simply to take away a whim?

Today, thanks to the opportunities that are offered by the web, you can access fast online loans , which reduce bureaucratic costs and time to get hold of those sums we need.

In today’s guide we will talk about it at length, allowing you to move in the right way to get money immediately.

Forget the old banks

Asking for money, however, often means queuing in the bank, then in another and then in another … without getting results and seeing you slam the door in your face, even if you are not a bad payer or a person particularly exposed to banks.

If you are not already familiar with this type of situation, unfortunately you will have to develop it, as this is a bit the process that affects everyone, rich and poor, employees and entrepreneurs, unemployed and project workers.

The traditional banks that operate offline have closed the credit taps and today are not able to offer you much, if not high rates, very long bureaucratic procedures and, in the most frequent case, incredible humiliations.

Today, thanks to the Internet, you don’t have to rely on traditional banks to get a loan quickly. The Internet offers you so many possibilities to choose not only a quick loan but also a convenient payment method for you, with the right installment that you can afford and above all without fainting in interests and commissions.

Why choose a fast online loan

Why choose a fast online loan

The web has literally revolutionized the world of personal and non- personal loans. Banks have entered into the competition, sometimes fierce, and above all with banking groups that may not even have a more widespread presence offline.

Today nothing prevents you, living in Milan, from getting a loan from a bank that is based in Palermo and maybe doesn’t even have a branch in your city, and obviously vice versa. The world of loans has opened up, has become competitive, for the exclusive use and benefit of us potential debtors.

Fast online loans can guarantee you:

  • TAN very low, even more than one percentage point compared to the loans that the bank would grant you instead;
  • Even lower APR , because you will not be able to break down only the interests, but also the commissions and the management costs;
  • Short times : with many loans that can even be granted within 24 hours;
  • convenience in restitution : the formulas offered online are generally more flexible and allow you to choose rates of duration and size that are not a problem for your personal and family finances;
  • fewer files, less humiliation, less time lost : because you no longer have to go to the bank to beg for a loan, as there will be several online banks that will want to accept you as a debtor.

Personal online loans: are they fast?

Yes, indeed, very fast. Forget how much traditional banks offer you, which seem to have to comb through every single insignificant detail of your life to grant you a few thousand euros of loan.

It is enough to offer a minimum guarantee, not to be bad payers, and in general you can get a very fast loan, as long as the request is obviously made online.

And even if you are protested, a bad payer or you do not have sufficient guarantees, you can find the right way for you to get a loan online without too many complications.

Fast online loan for protesters and bad payers

bad payers

For traditional banks protested and bad payers are untouchable, and they should not even try to enter the branch. For online banks, which have a smarter way to operate, you can still be a good debtor.

There are several loan methods that allow you to access credit even if you have these problems:

  • you can get loans with salary-backed loans online, which are an absolute and total guarantee for banking groups;
  • You can offer another person as collateral with online loans, be it a family member, a friend or an employer.

With these systems you will be able to get the loan you need without any problem, with extremely tight deadlines, even in just 24-48 hours.

Fast online loan even for temporary workers

Fast online loan even for temporary workers

Even temporary workers can get fast online loans, without anyone spending as guarantor for them. Also in this case we have two modes:

  • assignment of the fifth , which can be valid for a maximum amount equal to the remaining months of the contract;
  • with personal loans generally of a shorter duration than the contract.

And if a bank does not want to give you the amount you need, remember that you can accumulate up to two transfers of the fifth, to more easily reach the amount you need.

Is it convenient to make an immediate online loan?

Yes, for several reasons:

  1. you will immediately get the sum you need or otherwise a denial; in this second case you can immediately put yourself in search of another institution that will allow you to get the sum you need
  2. you will get a loan on more advantageous terms, both in terms of installments, interest, and commissions
  3. you can get personal loans at advantageous rates with enormous ease, even if you don’t have to buy durable goods and want to spend the money for some personal whim
  4. you can access the special offers of all the banks authorized to operate in Italy , and you will no longer have to settle for what your neighborhood or city offers

So yes, it is always convenient to get a loan online, both for timing reasons, and because you can get much better conditions, pay less in interest for any type of loan, with the installment you want and to repay the sum you received when you want, without any kind of problem.

How to choose the best fast online loan

online loan

On the web it is full of comparators that allow you to choose the most convenient loan for you. In just a few seconds you can compare hundreds of offers, all for you, to offer you the amount you need without losing time or money.

Forget about the bank – the world of the Internet has everything you need for your economic needs.