Fast personal online loans are a financing option that has arisen thanks to the development of telecommunications and the Internet. If you need money urgently, this is one of the possibilities at your fingertips.
We explain in detail what are the main characteristics of this financial product, the requirements to access and the opinion we have in Astro Finance.
Features of fast online personal loans
The idea of requesting a fast personal online loan is that sometimes you can not wait for the financial institution to approve an operation. Not in vain, it must be borne in mind that this process can take several days and cause a loss. Sometimes not paying a quick money supposes some unacceptable surcharges or, what is worse, being disqualified to ask for subsidies or public subsidies.
Fast online loans are designed so that you can respond to a specific need that can not wait, such as paying a fine, college tuition or a household appliance. If you use this type of financing for what is useful, you can get a good game because it is an alternative that can take you out of many problems. The development of fintech companies has allowed the operations to be carried out through the Internet without needing to be perpetuated.
These are some elements to keep in mind when you ask for the loan to get the best conditions:
1. Quantity to be ordered
Although the personal fast online loan is designed to solve a specific situation, we recommend that you be reasonable. For example, it does not make much sense that you ask for a loan of these characteristics to pay for a vacation if they are not urgent. As a general principle, this type of loans are usually not more than 1000 euros.
There are operators that offer up to 5,000 or 6000 euros for this type of loans, but they will request more guarantees and, as a general principle, the interest they will ask for is much higher. Therefore, we advise using this possibility with due prudence.
2. Fast return
The repayment of this type of loan is fast and, as a general rule, there is a period of no more than 90 days to reimburse the amount, although the standard is 30 days. Think that this type of financing requires less entry requirements than a conventional loan.
Remember that the financial operator is interested in recovering promptly the money it lends to you. The fewer guarantees you offer, the less quantity you provide and the shorter the return period.
3. Immediateness in receiving the money
If there is one aspect that makes the difference with respect to other financial products is the time it will take to receive the money. The normal thing is that you have the requested amount in account in 24 or 48 hours and, in some cases, this period can even be reduced. The idea is that, if you need money, you can get it fast.
4. You do not need a guarantor
One of the main problems with loans is that a guarantor is often asked for. In this case, you will not have to worry because it is not necessary. The guarantees provided by the borrower are sufficient if they can be conveniently accredited.
Requirements for requesting a fast personal online loan
There are a number of requirements that you are going to request when requesting a fast personal online loan. Since these are the minimums, it is good that you know them so as not to take surprises:
Fixed and demonstrable income
It is essential that you have a fixed payroll, a pension or, failing that, continuous income for a long period of time if you are self-employed. Without this condition, it is most likely that they will not give you the financing.
Not be in a file of defaulters
Financial operators give the loans based on the fact that you have no debts and you are not in any file of defaulters. This condition is essential to get the money without asking too many questions and offering basic guarantees.
Age of majority
The sine qua non condition to apply for any type of loan is to be of legal age. When you ask for a quick personal loan, they usually put as a maximum 65 years, although there are already operators who grant financing in exchange for extra guarantees.
Residence in Spain
It is essential that you live in Spain legally if you want to request a loan of this type, whether you are Spanish or foreign. Keep in mind that the main concern of the lender will be to verify that there is a real root in the country so that you can face the debt.
The lenders will ask you for contact information to complete the paperwork. You have to provide a mobile phone, an email and a checking account. If you are interested in accessing this type of financing, it is most likely that you have this type of contact terminal.
The opinion of Astro Finance
Fast personal online loans are an interesting tool if you know how to use them well. The main conditions are that you compare possibilities and that you remember that this formula can not substitute a conventional loan if you have the option to hire it.
Depending on your level of solvency and the operator, the interests can vary a lot. For this reason it is highly recommended that you use a comparator such as Astro Finance. We have a wide range of references to inform you and make decisions consciously.
On the other hand, remember that there are other financing formulas in the medium term. If you are going to face an expense of a certain amount and you can wait a few days or weeks, you will be more interested in asking for a conventional personal loan because you will pay less interest.
If you want to request fast personal online loans, it is convenient that you know what the main characteristics are. This financing formula can be interesting in some cases and we recommend that you consider it if you need money already and you can not wait. In Astro Finance we give you advice about this and other ways to get quick money to make your projects come true.