When we need money in a fast way for an unforeseen event, or when we have difficult financing from banks and other financial institutions, the immediate loan is a very important option to consider.
We must bear in mind that this financier works in a similar way to other loan companies, so we must make a comparison of which is the best based on their conditions.
How to request an instant loan
It has a simulator that informs you of the conditions of the loan, and then fill out a form with which the pertinent checks will be made on whether you can receive the money.
Therefore, to request a loan you must follow the following steps:
Select the amount you need to receive. This can range from 50 to 600 euros, although the first loan can only be up to 300 euros. After returning the first loan, they offer you the possibility of having a greater amount of money, since you are considered a recurring customer.
Select the return period. You can choose a period of between 7 and 30 days. In addition, if you can not return the credit at the time of repayment, you can make an extension of this to extend the term and avoid default interest.
Once you have chosen the amount of the loan and how much time you will return it, you will have to fill in a form with your personal information. In addition, you will be asked to enter the data of your online banking , to verify that you are the owner of the bank account where the deposit is to be made and, therefore, the account where any charge will also be made. It is a completely secure process, but if you prefer you can send this information by email.
When you have completed all the data, almost instantaneously you will receive an SMS to your mobile and an email to your email informing you if you have been granted the money. In the event that the concession is positive, a verification code will be included that must be entered on the website (in the user area) to activate the credit and receive the money in your bank account.
Normally, the requested money will be received instantaneously, although some banks delay approving it between 24 and 48 hours.
How to return the loan
Once the expiration date of the immediate loan has arrived , the return of the total loan plus the corresponding interest must be made. This figure is completely clear at the time of agreeing the loan.
To return the credit we just have to make a bank transfer to one of the account numbers that are on your website. In the concept of income, so that there are no problems, “PAYMENT + DNI” of the applicant must appear. In this way know that this payment corresponds to your loan.
In the event that you can not return the credit within the established period, you can request an extension.
Requirements to have a loan
The requirements to have an immediate loan have nothing to do with those that you can ask in any bank, since we talk about another type of financing.
To get a credit you must meet the following requirements:
- Have your residence in Spain.
- Have an age between 21 and 70 years.
- Outstanding debts must not exceed 1000 euros.
- You must show that you get regular income to be able to face a possible credit.
Usually fulfilling these requirements the granting of credit is immediate, although you must pass a small internal risk analysis to be effective.
Interest of loans
The interest to pay for the quick microloans is clearly seen when you perform the loan simulation. Keep in mind that these types of loans are perfect for when we can not access a bank loan or do not have sufficient time and we need cash immediately. Otherwise, the conditions offered by banks are more favorable than those that can be given by any loan company, either or any other.
In any case, if you finally decide to apply for a loan , the interest rate that is applied is different depending on the amount requested and the return period. This interest ranges from 3752.37% APR, in the case of the credit of 600 euros to 30 days, to 7636.44% APR if we ask for 50 euros at 8 days for the return period.
In any case it is best to make a comparison in the simulator between the money that you are going to lend and the money that you will finally have to repay on the due date.