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Presconded loans What is the trap of this banking product?

It is very common in our days for banks to offer loans or loans without requesting them from their clients in order to increase the amount of loans granted by the entity. This is happening to many people, that without coming to mind, they get an SMS, an email, a phone call or a notification in their online banking where they offer X thousands of euros in the form of pre-conceived loan.

Every day it is more common for banks to offer us preconceived loans. This is mainly because they have analyzed our profile, they know the level of solvency we have and they are sure that we can return the money without problems.

As we have already analyzed our relationship with the entity, our income, our expenses and other factors that take into account the time of managing a loan application, and the risk department of the bank will have given its approval to the granting of that loan. 

So if we want that money we just have to accept it and it will be deposited in the bank account. In general, pre-granted loans offered by banks usually have worse conditions than personal loans that we can request on our own. As always, not all are like that, but we can talk about the majority and the generality of them.

How can I know if a pre-agreed loan is convenient for me?

Mainly tend to have higher interests than we could get with other lenders, such as quabank or bankil. It is usually because being pre-granted there is no negotiation, this also means that if we accept the credit we will have the money instantly in our bank account.

But to know if we are interested in this pre-granted personal loan provided by our bank, we must ask ourselves some key questions, such as: do I need the money that they are offering me? If yes, can I meet the payment of fees without seeing me suffocated?

Although it is assumed that the entity provides us with the amount that has been studied as we can return, this does not mean that it is so. They only know what goes through the account, do not know if we have other debts for example. We must know what situation our personal and family finances are in and whether or not we really want to apply for a loan.

And finally, if we really need the money, it is advisable that before accepting the pre-granted loan provided by our bank we analyze the other options available in the market and if what our bank offers is the best option.

What other personal loan options do I have?

If you really need a personal loan, you can compare the offer that your bank has made with those that you can find in various online comparators, such as the one you will find on our personal loan comparison page. We must not forget to analyze if the loan offered by the bank goes with a linked product or service or if it is only a personal loan, since this will make the final price very expensive.

Some of the options we have if we want a personal loan without changing banks are the following:

quabank

We can get up to € 15,000 in a maximum period of 6 years.

This personal loan has neither linkages nor commissions, the APR is from 6.95% and we will be able to dispose of the requested money in about 48 hours.

bankil Project Credit

With this personal online loan we can get up to € 15,000 in a maximum return period of 6 years. This service also does not have commissions or obligatory links. We can have the money in our bank account in about 24 hours and the APR is from 5.6%.

Requirements I must meet to apply for a loan with Financial Credit Institutions

While the best place to apply for a personal loan may seem to be your bank or credit union.

It is also true that they will not give you the money you need if you are included in the Financial Credit Institutions or any delinquency list. So you can consider a loan online. Online lenders that accept Financial Credit Institutions will allow you to access the money you need, regardless of whether you are in a delinquency file. However, it is necessary that you know the requirements that you must meet in order to access this financing product.

In today’s article you will be able to know them, this will help you to know if you are a good candidate to obtain a personal loan.

Why is it difficult to find loans with Financial Credit Institutions?

Loans for bad credit are hard to find because the default rate is very high. The profits of personal loan lenders depend on managing the expected default rates associated with different groups of loan applicants. That’s why, for people with poor credit scores, finding a personal loan is difficult.

Since many lenders can not or do not want to take so much risk with your investment. Fortunately, not everyone thinks the same and it is these that can meet the economic needs of a person who is registered with the Financial Credit Institutions and needs money. But before applying for funding you should ask yourself some relevant questions.

Who should consider personal loans with Financial Credit Institutions?

Not all people are good candidates for a personal loan. Since there are certain requirements that must be met according to the lender company with which the loan is requested. However, they can be an excellent option for certain consumers, such as:

People who are in the Financial Credit Institutions or some record of delinquency

Maybe you owe a considerable part and you want to settle all the debt in order to leave the Financial Credit Institutions. A loan with Financial Credit Institutions is your most affordable option, to be able to fulfill your purposes and be totally out of the delinquency record. When you are off the list of defaulters, you can open doors, especially financially speaking. That is, to have access to any type of financing.

What can be a mortgage for a new house, reforms of the home, a business as self-employed, etc.

People who need fast money

Even if you have accumulated capital in the home, you may not be able to touch it fast enough to do what you want. Since it can take weeks to evaluate your property, process, approve and finance your home equity loan or line of credit. If you need to make a fantastic investment immediately, a personal loan could be your best option. And you can always use the real estate capital to pay for it when there are no time limitations.

People whose savings are immobilized in retirement accounts

If you are not old enough to access your savings without a fine, a personal loan could be a much cheaper source of funds. When you withdraw money from your savings account in advance, you may have to pay a penalty for it. So it can be more profitable to ask for a personal loan.

People who want a loan with a fixed interest rate

Sure, some credit cards come with fixed interest rates, but for a limited time. Therefore, if you want a real fixed rate loan, you probably want a personal loan. Because in this way you will know how much you are going to pay exactly every month for the duration of the loan.

What are the requirements to apply?

¿Cuáles son los requisitos para solicitar dinero con ASNEF?

At this point you should bear in mind that each of the lenders has its own requirements. It is not the same to ask for a mini-credit in which the amount is lower than that of a loan. Likewise, it is not the same to be in the Financial Credit Institutions for a non-payment of a mobile invoice, than for a non-payment of a loan in another bank.

Next, I will give you the general requirements and these are:

  • Be of legal age, (although depending on the entity, the minimum age may increase) and under 70 years of age
  • Be a resident in Spain and have a document that certifies it 
  • Have a bank account in your name, co-owner, representative or authorized thereof.
  • Have a mobile phone to your name and email
  • Have a regular income (a payroll is not necessary) and enough to repay the loan (for loans with collateral this requirement is not necessary)
  • Do not have debts in Financial Credit Institutions higher than € 1,500 and that this is not due to non-payment of a bank product (for loans with guarantee this requirement is not necessary)

 

What is an instant loan?

It has been a relatively short time since the options for getting fast financing have expanded. Before we could only go to our trusted bank with papers, to make a request for a loan, which maybe even granted us after conducting the study they saw fit. However now, with the advances of online banking, it is no longer necessary to move or carry out paperwork to request an instant loan.

We only need a device with an internet connection and the number of our current account, in just 15 minutes you can request a personal loan oline, With this and our personal data we can request the money we need in a matter of minutes.

Everything you need to know before applying for your instant loan

After a click and fill out a small form with our personal data we can have the money entered in our account in a matter of minutes. Although applying for an online loan is the most efficient option today, we must take into account some aspects when making our request.

Since it is such a simple procedure we must know in depth how it works and the conditions of them before requesting one. That is why from creditore we bring you a mini financial dictionary, with the terms most used in instant micro credits.

Financial dictionary

When you read the conditions of a loan it may happen that you do not fully understand what certain words mean, or you may not know what some terms refer to in that context.Something crucial before signing any contract is to know what stipulates and what conditions are accepting, because whatever they are, if you agree with them you can not deny them in the future.

Hence the importance of knowing that we sign and before what we face in case of non-compliance with the conditions.

Learning the terms is important to choose a good credit

Learning the terms is important to choose a good credit

Let’s look at the most used financial terms in instant credit agreements on the Internet right now.

This will help us to better understand what they offer us.

Free early amortization

In most lenders, such as eicredit, the early repayment is completely free. This means that if we decide to repay the borrowed money before the stipulated period, we can do it completely free of charge. In addition, not only is it free but we will save money because we only pay interest on the time we enjoy the money.

For example: we request € 300 for 30 days, but after 10 days have passed since the disposition of the money we have € 300 for its return, we can return them at no cost. In addition, we will only pay interest for those 10 days, not the 30 days. So we can save good money if we pay early for our instant loans.

Be at the Financial Credit Institutions

Maybe there are people who do not know what Financial Credit Institutions means, this is a delinquency file.

Where several companies will automatically include us if we fulfill 3 unpaid invoices, for example: telephone companies, banks, financing entities, etc…

If you need to know more about everything that entails being enrolled in one of these delinquency lists, or how to know if you are enrolled in one, or even how to get out of them, find out in our credit section with Financial Credit Institutions.

Where you can find everything related to these delinquency files.

Have an Aval

It is the guarantee of fast online credit payment that we request. In this way the lender makes sure of the loan collection, even if you decide not to pay.

As a general rule, in microcredits a guarantee is not necessary since the amounts do not exceed € 1,000, with the exception of truloan, which allows you to request up to € 2,500 without endorsement.

Fast financing

This term refers to financing services such as microcredits or instant loans, which provide us with a small amount of money almost immediately.

Regular income source

It is denominated like this to any type of income that we have of habitual way and which we can demonstrate with a contract, with receipts or of some other way.

The fees

This term is used to denominate the interest charged for the realization of the immediate loan. They include any type of commission and interest applied to the loan in question. That is, in a few words, what the instant loan costs you.

Reimbursement period

It is the time in which we must make the repayment of the immediate loan that we have requested. As we explained before, it is not necessary to wait for the expiration period to reimburse the amount owed. If we do it in advance we can save money on the fees.

The Prorogation

The postponement of the reimbursement period is called.

If for some reason you will not be able to pay the loan within the reimbursement period, the best option is to request an extension of the payment.

credito gratis

You will be granted 7, 15 or 30 days of increase in the reimbursement period, with an extra cost. We say that it is the best option, because the extra cost of making an extension is lower than the interest for delay.

Instant credit application

An instant credit request is similar when requesting a quote. DO NOT commit to anything. It is just fill out a form with your contact information to know if you accept instant credit or not. Once they accept your request it is your turn to accept or not the conditions that they propose, this is without any commitment.

If, when you accept the application, you are not convinced by the conditions provided, you can cancel the application without any obligation or cost.

A transaction

It is called the action of managing the entire application and making the deposit of the immediate loan in the current account that you have contributed in the application.

Offers on instant loan

Do not forget that the immediate loans that you request must be returned within a maximum of 30 days, with the exception of truloan’s instant loan of € 2,500, which allows you to repay it up to 90 days. So you must plan your economy correctly to be able to face the payments or the payment of the credit in the term established in the application. Do not forget that in our comparator you can get the money you need saving time and money.

 

What is a loan or a credit?

The loan product has been a key factor for growth in the economy. But, especially in recent years has excelled personal loans and this is due to market demand. And is that after the recession, users got into debt and now seek to consolidate and pay off that debt and a personal loan is a perfect opportunity to do so. You can also take advantage of a loan to pay for any purchase or project you wish to make.

Know what a loan is and some other points that you should consider when borrowing money. Once you know them, request yours through the credit section, you will find a table with the best products in the online market. So you can compare them, and of course take the best one according to your needs.

What is a loan?

What is a loan?

A loan is when you receive money from a friend, bank or financial institution in exchange for the future repayment of the principal, plus interest. The principal is the amount you borrowed, and the interest is the amount that is charged for receiving the loan. The lender is the financial institution or the person who lends the money and the borrower is the person who benefits from the borrowed money. Because the lenders run the risk of not collecting the loan, they have to compensate that risk by charging a fee, known as interest.

The loans are generally guaranteed or not guaranteed. A secured loan involves the pledge of an asset (such as a car, land or house) as collateral for the loan. If the borrower fails or fails to repay the loan, the lender takes possession of the asset. An unsecured loan option is preferred, but it is not as common. If the borrower does not return the unsecured loan, the lender has no right to receive anything in return.

In this product we acquire a financial responsibility, for which we promise to return the money on the date agreed in the contract. Let’s talk now about how to request the best personal loan with safety and comfort.

The request for a credit

When it comes to applying for a loan, the ideal is for borrowers (you) to have a clear idea of ​​how much they want to get out, along with how much they can repay on loan repayments, before they start using their loan application.

A loan calculator, a tool offered by most major lenders on the Internet can help you determine what your monthly repayments will be.

For all this, you can clearly see the capacity of your pocket.

What is the withdrawal period on a loan?

A withdrawal period is a useful clause for when you change your mind. Part of the Consumer Credit Law, which allows you to cancel a contract without being penalized. We all usually sign contracts, whether to join a gym, buy something online or apply for a loan. With which you have a withdrawal period of 14 calendar days during which you can change your mind. This period usually begins the day after receiving your confirmation letter.

If you wish to cancel your loan without paying interest, you must inform, either by calling or writing an email to the lender and then you will have to repay the loan within 30 days. You do not have to give explanations of your decision, you just have to notify it within the stipulated period.

This information almost nobody has it and however it is very important to take it into account, since you can back out of a contract without having to pay for it.

Consider the costs and interest rates

Consider the costs and interest rates

As in all our articles we always recommend our users to consider the interest rate and any other cost associated with the product they want to hire.

You must think about your financial ability to pay the amount you are borrowing.

Note that:

  • Unsecured loans, such as personal loans, generally have higher rates than those that are guaranteed.
  • Be careful with requesting more than you need.
  • Excessive debt could put you in financial trouble, even lead to ruin.
  • It is not a good idea to take a financial product if you can not afford it.

By means of our credit comparison, you will be able to compare the different rates in all the products, which makes it easier for you to choose the best one for your pocket.

In addition, you can see all the most relevant features in each of them. Do not forget that knowledge gives you power, especially when it comes to your credit. Do you know in detail what a loan is and what are its uses?… and Why can you apply for a loan?

Different needs, different loans…

All people need to apply for a loan at some stage of life. Whether to buy your first car, a house, to pay for a wedding, renovations at home, start a business, etc. Different needs that according to each of them is convenient to request a loan or another. So it is very important to know how to choose well, since the circumstances are different, so are each of the financial products. In our credit articles you can be well informed of all the important aspects you must know before hiring this financial product.

Whenever you want you can look for information here in this blog, not only for credit but for all the products that we offer in our comparators.

And to finish…

If you have never received a loan to buy something, you are certainly among the minority! Loans can be great opportunities, but they can also get you into many problems. One of the keys to financial success is understanding when credits are a good solution for your situation.

The first thing is to take into account: that the credits are never a good idea, if you can not pay them in the required period. Since, instead of finding a solution, you can simply find the ruin. Many consumers opt for a personal loan at some point, whether to buy a new car, a wedding or a family getaway, or to consolidate the debt in one payment. However, it is essential that anyone thinking of taking out a loan is well informed.

There are many loans in the market designed for different purposes and people in different circumstances, and understanding how they work is the first step to borrowing responsibly.

Loans That We Can Request 24 Hours A Day, 7 Days

The biggest advantage of fast online loans is that in just a few minutes you can have the urgent money you need in your account. They help you solve specific problems of liquidity or solve those unforeseen problems that arise for all of us. When we request a quick credit we expect to receive the money as soon as possible, this is easy on weekdays, but what happens on weekends?

Loans that we can request 24/7

Loans 24/7

There are financing services that operate 24 hours a day, 7 days a week, which we call 24/7. These services that we are going to talk to will answer you in a matter of minutes if your application is approved and you will receive the money once you accept the quick credit. The two most prominent lenders who work 24/7 and confirm if our application has been approved in a matter of minutes are:

Lender Max.     Concession time Contract
creditent € 1,000     Response in seconds Contractable 24/7

Apply for

hypocredit € 800 (€ 300 to new customers)     First free credit Answer in 15 minutes Contratable 24/7

Apply for

So, applying for one of these two quick loans means that we will have the money instantly in our account? That will depend on some circumstances. So, as we have already commented on entries in this blog, if you want to be sure of having the money in your account at the time your application is approved, consider a fundamental aspect.

Fast Money Without Guarantees

Make sure your bank is among the banks with which the lender works. Since although the transfer is automatic, if you do not have an account in one of the banks with which the lender works it will take a day or two to be the money in your account.

How to get money urgently?

A tip that we also gave in the post that we mentioned before is that if you need the money urgently, and you want to speed up the process, you can fill out different requests for quick credit and choose among those that are accepted the one that suits you best or suits your needs. needs

In this way you will save time and energy. In case you need an urgent loan of a larger amount, do not worry, because in our REQUEST YOUR CREDIT section you will find loans of up to € 100,000 for whatever you want.