How to rent small loans online step by step?

 How to rent small loans online step by step?

Online microcredit companies give their customers quick money, with a process that can take us less than fifteen minutes. Thanks to the full online application and automatic data analysis, we can get small credits without any problem and in just four steps:

rent small loans
 How to rent small loans online step by step?

Ask for the amount and return period. We will determine how much money we want and how long we plan to return it.

Fill out the application form. On the following screen, we'll have to fill in the empty fields with our personal data: name, title, ID, date of birth, mobile address, among others.

Check. Through Instantor or any other online verification system, the lender will verify that our data corresponds to our bank account data and will evaluate our financial file based on the transactions that appear. If everything is true, they will agree to the request and we will move on to the final stage.

Read and sign the contract. They will send us the contract via email, and after verifying our data and conducting all relevant verifications, we will sign electronically through a code they will send to our mobile phone.

How are mini credits returned?

This type of funding has two key characteristics in the way they are returned:

They are returned in a very short period of time, and their return period is between 7 and 30 days. Thus, within a maximum of one month of the time of its request, we will have to return the funds.

One tip is to put the payment date on the date on which we charge the fee. Therefore, if we ask for a small loan on the 20th day of the month, we can decide to repay it on the 6th of the following month, when we have already collected it. This will help us avoid prolonging and paying it when we receive the salary.

For example, if we want to order 300 euros in 30 days at a rate of 1.1%, we will have to return 399 euros. On the other hand, if we request a return within 15 days, we will have to return 349.5 euros.

Returned in one go. Thus, at the end of the term, we will have to return the money we requested in addition to the interest generated.

For example. If we ask for 300 euros at 1.1% per day to return them within 30 days, we will have to return 300 euros plus 99 euros in interest, 399 euros in total.

How do you collect the payment?

They will generally ask for two ways to do this:

Pay the card. When you fill out the application, we must give our card number and on the specified date, the lender will pay as if it were an online purchase on the card.

With this option, the fee will be collected automatically. Of course, we must make sure that we have the necessary funds in the associated account.

Payment by transfer. On the day of the date indicated or two days before the conversions were delayed, we must make the transfer in favor of the mini credit with the total amount to be returned.

It is important to correctly select the transfer with our contract number or what each lender requests.

How do I make the mini balance arrive faster?

One of the key aspects of private credit institutions is that we will be able to get cash at our disposal in less than 15 minutes. However, depending on the company we ask for the loan, it may take up to two days to receive funds from the microcredit in our account depending on the bank with which each lender works. 

In the following free guide you will find answers o why it takes so long for small credits and how to reduce the waiting time:

Is it possible to get free small loans?

Yes, due to the tremendous competitiveness that has emerged in the market, many microcredit institutions promote cost-free financing offers to attract new customers. In general, offers for free small credits have two basic conditions:

Being new customers: In order to get a free small credit offer, we can never request a small loan from the entity that promotes the offer.

Repayment during the period: The capital of the micro-loan must be returned during the agreed period at the time of contract.

These offers will apply to all persons who meet the requirements automatically. Without having to enter any code or abide by specific rules.

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What do I do if I can't repay microcredit online?

If we see at the end of the repayment period that we cannot return the borrowed funds, we should contact the lender to try to negotiate a solution.

Contact the entity before you don't pay. Thus, our negotiating force will be greater to request extra time to get the money back.

Negotiate a repayment plan that is compatible with our current economic situation. In general, they will allow us to return the required capital and then, little by little, the interest generated, although you must know how to negotiate, because they do not always agree.

Go to AEMIP: Companies associated with the Spanish Association of Small Loans are returning to their code of good practice. This indicates that they must show willingness to find a solution. In addition, we can always contact AEMIP to act as an intermediary through the brokers service.

It is important to know that non-payment will always bring us more problems such as registering in files such as financial credit institutions or even going to court. Negotiation is the most effective way to avoid the bad consequences of not paying.

Do you have more loans than you can pay? We have created a free guide to solving the problem of excess indebtedness. Download it for free and resolve your condition with easy tips:

other types of loans to get money quickly

Today, in addition to quick microcredit, there are a variety of financing products to get the capital we need according to our profile and purpose. Thanks to the large number of loan offers, we will be able to choose the type of quick financial loans that are best suited to us. Here are some alternatives to funding:

Quick loans. These credits are characterized by their quick granting and approval criteria which are very similar to the criteria for mini credits, but can bring us amounts in excess of 4000 euros. Its price ranges from 3% to 12% per month, but depends on the entity we move to, in addition to the amount we request and the repayment period we have set in the contract.

Personal online banking loans. These credits allow us to get amounts ranging from 1,000 to 60,000 euros and at an average cost, according to the Bank of Spain, usually moves around 8.50% APR. The repayment period can be up to 10 years and is designed to finance large personal projects, such as buying a car, dream trip or repairing our home.

I know about having different types of personal p-putup that can help us deal with different types to fund their property requirements. In addition, informing us and comparing offers will allow us to get the best terms.