The socialization of the Internet and the digital revolution led to the implementation of hundreds of digital solutions to cover needs in different segments of the population. In the financial sector, one of the most effective solutions in the financial field is online loan. In Spain there are several companies dedicated to this market and users satisfied with their services proliferate at a frenetic pace.
The advantages of online loan are several compared to traditional financial institutions. Among the most important, the following stand out:
High supply of loan products online
As already indicated, several online financial companies operate in the Spanish market. Each one with its amounts, terms, fees and requirements. This constitutes the most important of the advantages of the fast loans, because it gives the user the possibility of accessing a wide range of competitive offers able to cover different needs.
From Atrapaloano you can check all the loan offer in real time and classify the offers according to the characteristics that are of your interest.
Depending on the company and the online loan , the loan study and approval can last no more than 10 – 15 minutes and we can receive the money in our bank account “instantly” to dispose of it. Therefore, they are an excellent solution to the cash emergencies that many people tend to have at certain moments of their lives, either due to unforeseen circumstances that may arise or due to the non-planning of extraordinary expenses or simply because we want to caprice.
Another advantage of quick loans is that the paperwork to request them is not even comparable to that required by traditional financial institutions. In most cases, it is not necessary to have any endorsement or guarantor, payroll, pension or proof of income. It is even possible to obtain the loan by being a member of delinquent accounts such as those registered in the ASNEF . Which is impossible if we go to the traditional banking market, a small debt should not be a brake to receive personal financing.
Additionally, there is no need to explain why the loan is needed. It is free investment. Online financial institutions only demand to know the amount required and the time period in which the client can return it. This anonymity allows the end user to feel more secure and avoids having to go through delicate moments and find excuses that are not always well understood or received in more traditional companies.
As with all digital solutions, one of the greatest advantages of online loans is that the procedure to request them, receive the disbursement and pay is extremely simple. You just have to enter the web portal of the company to which you will hire the service, fill out a form and follow a few steps more. Everything from the comfort of your home or work. All the forms are designed to facilitate the registration, application or registration as much as possible.
In addition, thanks to its process automation systems, the cash disbursement is made quickly in your account and you can pay online if you wish.
Depending on the financial institution, another advantage of personal loans is the possibility of paying before maturity, thus saving capital in interest. Other companies also offer the option to extend the payment term if we wish and allow the renegotiation of the debt. You just have to process a simple extension request or negotiate directly with the entities to adapt the offer to our personal interests.
Without age limits
In traditional financial institutions, loan is often denied to retired people. In online mode this discrimination does not occur. It is enough for the customer to be of legal age and present his / her ID or NIE.
Undoubtedly, the advantages of personal loans on the Internet make them superior to traditional ones in many aspects. Perhaps one of the limitations they have is that they are not designed to cover large amounts, for example for large amounts for the purchase of housing, but they are not designed or designed loans like mortgage loans , for this type of financing there are other alternatives.
If we think from the point of view of the financial entities when reducing the requirements necessary for the study and approval of the application, these entities run a greater risk in the investment. They can not afford to put exorbitant sums of money into play.
The only thing that remains is to wait for the industry to continue consolidating, since in one way or another it facilitates the people traditionally rejected by the banks the possibilities of accessing a loan life and solving cash emergencies in a timely manner.