What are the requirements to request a loan?
In general, the credits can be used to address those unforeseen payments or those that we have long postponed. In both cases, we can ask for a loan, as long as we are going to repay it without problems.
However, we must be careful before asking for money to cover our daily expenses, as that may mean that we must improve the management of our personal finances. It is not surprising, therefore, that 82% of respondents have not considered requesting a loan to cover their day-to-day expenses.
In case of doubt, we can always have a credit line. It is a type of credit from which we will be granted a specific amount of money, which we can save to use when needed. Unlike other types of products, in the line of credit, we only have to pay for the money we use so, once granted, we can enjoy that extra mattress without any added expense. When we decide to make use of that money, we will only have to pay for the money used, doing it when and how we want.
What are the requirements to request a loan?
As we said, the first essential requirement is to be able to return it. Thus, 83% of people who have requested a loan previously analyzed whether they could afford the payments and, for 81% of people, this is a determining factor. Once we have analyzed whether we can deal with the debt, it is time to look at options.
With the advent of the Internet, comparators have also appeared: digital tools that evaluate the different options. Currently, almost 40% of people go to the Internet to request a loan, which shows that we care about studying all offers.
From there, if we opt for a bank loan, the conditions are usually quite strict and demanding, so many people bet on online lending, a much more agile and flexible option. With the Internet, the offer has multiplied, but we must be aware that not all options are the same.
In that sense, it is important to take into account the reputation of the entity from which we want to request a loan. However, this reputation is only taken into account by 28% of respondents. On the other hand, 42% take into account the opinions of their relatives and acquaintances, since they value the experiences they have had in similar situations.
In this case, our recommendation is that you always opt for companies that apply responsible lending to request a loan. This type of company will previously analyze your situation to offer you a loan that adapts to your needs and with conditions that you can assume, thus avoiding that you end up contracting debts that it costs you to pay.
Once we have analyzed our situation and the reputation of the company, it is time to evaluate the rest of the variables. We start!
How long does it take to grant a personal loan?
36% of men and 28% of women would choose a loan based on the ease of granting, while 25% of applicants would do so because of the speed. It is clearly not the most important factor, but when we need money urgently, agility is essential.
At this point, many of us are looking for fast personal loans, and that is where we should mention the technology that we have Fintech. This technology allows us to analyze your situation in a few moments, and, once the situation is evaluated, it can send you the loans at the moment.
What are the loans with less interest?
The APR (Annual Equivalent Rate) is what will tell us how much we are going to have to pay for our loan, that is, your fee. For 39% of respondents, it is important to consider it before applying for a loan, as it is the only way to know if we can return it comfortably.
In this case, the interest will vary greatly depending on our situation, the amount we request and the term we choose to pay it. Therefore, we always recommend that you look for the most flexible option since, depending on your situation, you can choose between one APR or another.
Where to ask for a loan?
As we have seen, there are many options to request a secure loan, so you can go to a traditional bank or an online lending company.
In the case of banks, the process is usually somewhat slower and, to apply for a loan, we must meet some quite demanding requirements. If what we are looking for is more flexibility and agility, then the best option may be to turn to an online lending company, which offers fast and secure personal loans.
These loan companies usually have much more accessible concession criteria, so we can count on granting us the credit as long as our financial situation allows us to face the payment of the debt. In addition, there are products such as the credit line, much more flexible and that allows us to have a specific amount of money that we can save to use when needed. Thus, we will only have to pay for the money and time we use, being able to return it when and how we want.
So, can I request a loan online?
If what we want is to pay an unforeseen or urgent expense, requesting a loan online can take away a headache in just an instant. Likewise, sometimes we can choose between spending five years saving to buy a new vehicle or request a loan. In this way, we can enjoy our car while we are paying the debt little by little.
Applying for a loan online can be a very good alternative to treat us or to deal with these urgent payments. The only thing we have to take into account is our situation and our solvency to return the money. Thus, we will only have to evaluate how much money we need and choose the option that best suits us.