Are you tired of knocking on the door of financial institutions to find the best personal loan? Don't have time to compare interests or have endless meetings with agents? Then online personal loans are a product that interests you. Without having to leave home you can make a comparison of loans, management interest, repayment time, etc. and find the credit that best suits your personal circumstances.
The economy is a living entity that evolves according to user demand. You no longer need to follow the traditional method of going to the bank for a loan or turning to dodgy private lenders. The online world has made the task of requesting a loan much easier, saving the typical banking bureaucracy or unnecessary waiting.
Online personal loans are already a reality. Banks have joined this trend that is increasingly in demand and there are many who offer online credits at the click of a button. ING and Banco Popular are two of the companies that offer this type of contract.
Where can I request a personal loan online?
These are the options of credit institutions that operate in United States, where you can apply for personal loans online. Compare all the credits and microcredits that are offered before choosing yours.
Bridgepayday: online loans of up to $ 40,000 in just 48 hours.
To be returned between 12 and 60 months.
Cofidis: personal loans up to $ 15,000.
Depending on the purpose for which the loan is to be requested, the return may be from 24 to 48 months.
Bigbank: Granting loans up to € 10,000 to invest in whatever you want.
The repayment period is a minimum of 6 months and a maximum of 5 years.
UsBank: Get online credits up to € 60,000
Choose the term to make the return up to a maximum of 5 years.
Oakparkfinancial: fast personal loans up to € 30,000.
Maximum repayment period 60 installments.
Creditocajero: mini-credits of € 300 in 10 minutes in your account.
For an online loan of € 100 to be repaid in 30 days, you will pay € 36.95 of expenses.
Fundingcircle: online loans for companies up to € 250,000.
€ 34.00 of interest per € 100 to be returned in 30 days
Cash: request urgent money up to € 500.
The maximum repayment term is 5 years and the interest rate is 4.79%.
Quick Credit: personal loans for a maximum of € 700.
For € 100 to be paid in 30 days you will pay € 37.41 of interest
Gadcapital: Mini-credits for only € 5 of interest
First loan of € 100 to be paid in 30 or 60 days with only € 5 in interest
Enjoying by Gedesco: loans using your car as collateral
You do not pay interest, but a monthly payment to be able to use your car until the loan is repaid
Myloans: Online loans up to € 900.
If you ask for € 100 to be paid in 13 or 26 weeks, you will pay a total interest of € 55.74 or € 92.40
Dedebt: granting of credits with ASNEFO
Requesting € 100 of credit will mean € 35.00 of interest
Cashloans: Up to € 500 quickly in your account
€ 100 to be paid in 15 days or a month, has a cost of € 15.00 or € 25.00 in interest
Credit10: Urgent credits with Credit Checker up to € 500
If you ask for € 100 credit to be returned in 30 days, you will pay € 30.00 of interest.
Solcrédito: mini-loans of up to € 600
€ 100 of credit will mean € 35.00 of interest
Paydayadvance2two: Have € 400 available in minutes
If you ask for € 100 credit to be returned in 20 days: the interest will be € 23
Paydaynow: Your first loan at 0% interest
From the second loan, if you ask for € 100 to be paid in 30 days, the interest is € 24
Creditlite: Personal loans of up to € 500.
Free first loan. From the second, for € 100 to be paid in 30 days, you will pay € 30.00 of interest
Creditrepair: Urgent money without paperwork or waiting
If you ask for 100 us dollars to be returned in 30 days, you will pay 35.00 us dollars of interest.
Insta-loan: quick mini-credits up to € 200.
€ 100 to be returned in 15 days equals € 25 of interest
Paydayrelay: urgent microloans up to € 500.
For € 100 in 30 days you will pay € 35 of interest (first online request for free money)
Loanbeginner: Microloans of € 400.
For € 100 to be paid in 30 or 33 days: the interest amounts to € 34 or € 37
Fastcredit: urgent money loans up to 800 us dollars.
If you ask € 100 to be returned in 30 days, you will pay € 30.00 in interest.
Okmoney: Get up to € 600 online without waiting or paperwork
Interest for € 100: € 30.00
Instacredit: Using your car as collateral, get loans of up to 15,000.
Interest: 10% APR
Québueno: Quick credits of 900 us dollars
Interest for € 100 in 30 days: 29.7 us dollars
What is a personal loan ?: The origin of the credits
It may surprise you to know that the origin of the personal loan dates back to ancient Rome, where there were already guarantors and usurers. It could be said that the concept of personal loan was born at the same time as the creation of the currency.
Christianity frowned on the issue of loans and it was the Jews who were in charge of making this type of loan to individuals. France was the first Christian country that, after the French Revolution, began to regularize this type of exchange and loan of money.
Thanks to the passage of time and the creation of central banks, personal loans were regularized until they became a banking product as such.
But what exactly is considered a personal loan? Personal loans are those products that borrowers (people who request credit) receive from a lender (financial or bank) and to which a series of interests is applied. The borrowed money must be repaid within the established terms along with the interest, which is called installments.
It is important to know that in this type of loan, the borrower responds to the credit with his present and future assets, in case of default. They are usually loans of money that will be used to buy an item or service, such as a car, studies, pay for a vacation or overcome a pothole, etc.
Now that we know the history of this type of loan, let's see what types of credits exist in the market.
Characteristics of personal bank loans
Personal loans offer more money than a mini-loan and, therefore, are usually intended to finance more expensive projects (carry out a minor work, hire an educational master, finance a wedding, buy a new car, etc ...).
As they are higher amounts of money (from € 1,500 to € 15,000), repayment terms usually range from one year to even 15 years. The repayment is made through monthly installments where the money loaned with interest is paid.
These personal loans are requested through banks, either in person at the bank itself and in recent times it can also be done online with specific offers for this type of contract in most cases.
The waiting time until obtaining the money will depend on the procedures of each bank. The normal thing is that in a couple of weeks they inform you of the approval or denial of your money. Once the answer is obtained, a contract will have to be signed with the bank where the characteristics of the personal loan granted are stipulated.
Types of online personal loans
There are numerous types of credits, depending on the amount of money you want to request, the type of interest or your particular financial situation. The good thing about this wide range of possibilities is that you have a lot to choose from and there is financing for each type of person, that is, to suit you.
We are going to see all the existing personal loans in United States, so that you can clear up doubts and decide what is best for you.
Ready to know what credit is yours?
Microcredits: urgent loans of up to € 1000
Microcredits or mini- loans are financial products designed to cover small contingencies such as an unexpected car repair, the extra expenses of going back to school for the children, paying an extra from the dentist, an unexpected vacation, pampering yourself or anything else that is not you have planned and that does not allow you to reach the end of the month.
If you need an amount of money of up to € 1000, which you can consider as an advance on your payroll, mini-credits are your best ally. Of course, you should know that the interests of these products are higher than in personal loans, since they usually equal 1% daily. On the contrary, the advantage is that as the return period is a maximum of 30 days, the cost that you will have to bear is not exorbitant either. For example, if you ask for a € 100 loan, you will have to pay approximately 20-26 US dollars in interest. As we have mentioned, this type of loan is designed to cover an urgent contingency in a timely manner, not as a recurring form of financing.
The advantages of these mini consumer loans lie in the ease and speed with which you can get that extra money you need directly into your bank account. Once you make the request and it is approved, you will receive your money in a few hours or at most one day. Quick money without paperwork and with the advantage of obtaining an immediate response.
Quick credits: online loans for more than € 1000
If you need to obtain an amount of money greater than € 1000, there are quick credits . They work basically the same as microloans, but differ in that the economic amount to request is of a greater amount.
If you need to pay a Master, a loan to finance your wedding or any other situation that requires a greater economic investment, this type of loan is the ideal alternative to the personal loans granted by traditional banks.
The management to obtain the loan is quite fast and you can have the money in your bank in less than 24 hours. This is the basic difference from traditional banking products. The agility, simplicity and speed to get the money.
Interest-free credits: fast money at 0%
Sporadic economic unforeseen events are a burden, especially when you know it was due to lack of foresight. You need help to make ends meet but you do not want to take more than a mortgage or pay exorbitant interest. You want a loan quickly, as if you were asking a friend or relative. Is this possible? Are there interest-free loans? The answer is yes.
There is an interest-free credit model where you will not have to pay any extra costs and you will only have to return the money requested. That is, if you ask for 200 US dollars at the maturity of the loan, you return 200 US dollars. It's that simple and without cheating or cardboard.
Surely you are wondering how you can get one of these credits without interest. You should know that, in general, they are usually launch offers from financial institutions to attract new customers, which do not usually exceed € 300 and that the return period is 30 days. They really are a great opportunity that is worth taking advantage of, especially to overcome a small occasional bump.
Free loan without paying interest. Of course, it is the best option among all personal loan models, as long as you do not need a large amount of money and taking into account that it is a one-off offer. From that first loan of the introductory offer, the conditions will logically vary and will include interest. But, if we need extra money and we have that opportunity to enjoy a free loan, why not take advantage of it?
Quick loans without payroll or endorsement
Are you unemployed? Do you only have a pension but currently do not have a job? There is also a financial product for you.
Financial entities that operate online have designed urgent loans without payroll as an option to bank loans with stricter conditions. In this type of loan you will not need to present payroll or guarantees, but you will need to justify recurring monthly income. This income will be sufficient guarantee to grant you the requested money.
The amounts they usually lend do not exceed 900 us dollars and the repayment terms vary between 22 days or a month. If you need extra money quickly and without complications, but you don't have anyone who can guarantee you or a payroll, this is your option.
Credit cards: fast financing for purchases
Credit cards are also a form of personal loan in that they allow you to have money quickly when you need it, without having to ask for loans and that you can repay in comfortable installments or monthly installments.
The interests of credit cards are usually higher than those of traditional loans, but their greatest advantage is the immediate availability of money. Depending on the type of card, you can have an amount between € 2,000 and up to US $ 15,000. The amount awarded will depend on your financial situation and your level of risk.
The form of repayment of the loan will vary depending on the payment method you choose:
Monthly payment due: Monthly payments due do not accrue interest, and allow you to have an extra amount of money for contingencies and to reimburse it 30 days later without any extraordinary cost.
Monthly installments : In this payment method, interest can fluctuate between 12% and 27% APR (Annual Equivalent Rate). This percentage will vary depending on the amount and the monthly payments you choose.
Loans with Credit Checker: credits for people in delinquency lists
Appearing on a delinquency list is like a stigma when applying for a personal loan at a bank. One of the requirements that are usually asked is not to appear in a registry of this type. But if this is your case, there are alternative solutions and you can request a loan online with Credit Checker without problems, as long as you meet the following requirements:
- That the debt for which you have been incorporated into the file does not exceed € 1000 (in some cases € 2000) and does not correspond to a non-payment related to credit cards or personal loans with financial institutions.
- Have a minimum income that serves as a guarantee to the credit company that you will return the borrowed money.
As you will see, there is a financial product designed for each profile or financial situation. Being on a delinquency list for a specific situation does not leave you directly without possibilities to get a loan.
What documentation do I need to apply for a personal loan?
The paperwork and documentation to present when you request a fast loan online is not usually very tedious. It will depend on the loan entity and the amount requested, but as a general rule this will be the documentation you will need to make your request for money online:
DNI or NIE: An essential requirement to prove that you are of legal age and resident in the United States is the presentation of a photocopy of your National Identity Document. Remember that you can also send it scanned, as long as it is clearly legible.
Bank receipt of your income: In your bank you must request a document where your monthly income appears. This is essential, since credit institutions need to ensure that your loan will be repaid.
Document with your bank account number: In order to verify that you are the owner of an account, it will be necessary to present a bank receipt showing the 20 digits of your account and your name as the owner. It will be valid with a bank statement, where this information appears.
The fact of requesting your credit online will allow you to speed up the process and obtain your loan in just a few hours or at most in two days without endless paperwork.
Online personal loans What requirements must I meet?
The requirements when requesting a personal loan online may vary depending on the company where you request the loan, the amount of money requested and the type of credit. As a general rule, the conditions of this type of credit are usually more lax than in banks.
Although, as we have indicated, the conditions may vary, the general requirements are usually the following:
Reside in the United States: It is not necessary to be born in the United States, but to have a Spanish residence. This is a basic requirement to be able to apply for a personal loan in United States. To do this, you must prove it with your National Identity Document or NIE.
Be of legal age: The minimum age limit is set by each company, but the rule is to be of legal age or be at least 21 years old. There are also maximum age limits, which are usually between 65 and 75 years depending on each case.
Have recurring monthly income: Some companies make having a payroll as an essential condition, but they are usually the least. The important thing is to be able to demonstrate that the loan applicant has a monthly income to be able to face the payment of the borrowed money. This income can come from a pension, scholarship, unemployment benefit, retirement, pension plan or similar. The higher the amount of credit requested, the higher that monthly income must be so that they can be a guarantee. In the case of mini-loans, these income must be a minimum of € 500 per month.
Be the owner of a Spanish bank account and a mobile phone: Two other requirements that all loan companies usually ask for are to be the owner of an account and a mobile phone number. The bank account will be necessary both to make the deposit of the money and to be able to charge the payment. The mobile phone line is required to be able to carry out the relevant communications and verify that you are the same applicant.
Not appearing on a list of defaulters due to a debt with another financial institution or credit cards: Appearing in Credit Checker does not have to be directly a problem, depending on the credit company. What is essential is that that debt, for which you appear in the defaulter registry, does not exceed 2,000 us dollars and that, in the same way, it is not because of having left money to owe another loan or a credit card .
As you can see, these requirements are quite basic compared to those required by any traditional bank to grant a personal loan. What these credit granting companies basically need is to corroborate that you can effectively assume the payment of the borrowed money with these basic requirements.
What happens if you do not pay the personal loans online?
What happens if you leave an establishment without paying something? You have to think that exactly the same thing happens with online loans. The moment you contract a personal loan, you are assuming some obligations and you are committing to return the money that you have been borrowed in the previously stipulated terms. If you do not comply with this commitment, you will have to pay late fees and other derived expenses.
Therefore, from Top Credits we recommend that before applying for a personal loan online, do a reflection exercise and evaluate if you can really pay it on the indicated date. If the answer is no, it is better that you do not embark on more expenses that in the end will result in a greater debt.
In case you do not pay your personal loan, these are the expenses that you will have to assume:
Late fees: These fees are specific to each loan company. Although by law they can never be double the initial interest on the loan.
Management expenses : The expenses derived from the contact management to claim the non-payment, must also be paid by you. Costs of telephone communications, burofax, letters etc ... This amount is usually around 30 or 40 us dollars. In the end, everything adds up.
Likewise, depending on the case, you will have to assume other types of consequences, which are important for you to know:
Registration of your name in delinquency files : In the event that the payment of the borrowed money is not paid once claimed, these companies may enroll you in any list of delinquents. This means that you will not be able to apply for any loan of this type in the future.
Claiming the payment by collection companies : In the same way, they can also resort to companies specialized in debt collection, which will try to communicate with you by all means with the inconvenience that all this will cause you. It is certainly not a tasteful dish.
Judicial way : The judicial way is also another way by which you can claim the payment of your personal loan. You already know that this will also entail costs associated with the attorney, lawyer, etc ... and, in case you lose the trial, you will have to assume all the costs derived from the judicial procedure.
The good thing is that all these consequences can be perfectly avoided.
After reading these points, I am sure that before requesting your personal loan, you will wonder if you can really assume the payment of the debt before making your request. Obviously, it is not worth applying for a credit online to solve an economic problem and then find yourself with a greater debt for not arriving on time to make the return. Don't you think