If you have applied for a loan to a traditional bank before, you will know that it is a very slow and tedious process, marked by a large amount of documentation that needs to be submitted.
In addition, in most cases, conventional financial institutions will require you to specify what the purpose of the money will be and, probably, you will have to go to different meetings with the bank’s advisors and make a large number of calls.
Due to this, it is not a surprise that more and more Spaniards choose to apply for a loan online, as it is presented as a much faster and simpler alternative.
However, some users are doubtful when applying for an online loan, as they are in a situation where they do not know where to look, what they should do, or which online entity to trust to apply for their loan.
That is why since Hayes we have decided to create a guide that can help you.
What are you waiting for? Request a bad credit no credit loan online Now
The objective of Hayes is to simplify the task of searching and comparing financial products.
We know that for some users it can be difficult to get an idea of the different steps to follow to apply for an online loan, so we have decided to make a visual guide that shows how you can use Hayes to get the money in your account in just 24 hours and in just 6 steps!
An online loan is a financial product that is fully requested online, without the need to make calls, attend meetings or present a large number of documents.
Since it is done in a computerized way, it is possible to get an answer immediately, meaning that you will be able to know if your loan has been accepted within minutes after submitting your application. Below you can read everything you need to know about bad credit no credit loans online and how to apply.
The online loans in the act represent a perfect option for those who need to have urgent money. Online lenders take care that you have the money in your bank account the same day your application is approved.
In addition, online loans use an automatic verification system to perform your solvency assessment, so you should not submit any paperwork: it will be worth submitting a valid ID.
Finally, through the online credits of immediate response, you have the option to request the amount you need without having to justify the end of it, so you should not give explanations or answer uncomfortable questions.
What should I keep in mind before applying for a loan online?
Before applying for a loan online, it is very important that you establish the ideal objectives or characteristics of your loan, as this will help you select the loan that really suits you and adapts to your situation.
First, think about how much money you need to borrow. It is important that you be faithful to your economic situation to be able to evaluate the amount you must ask, taking into account if you can meet the monthly fee that you must pay.
Remember not to ask for a larger amount than you really need, as this will bring a larger debt because you need some more time to pay the fees, which will result in more interest.
After that, consider the maximum amount you can pay per month, and how long it will take you to return the full amount to the entity based on monthly fees. This will determine the duration of your loan.
Finally, it is advisable to compare the different online lenders that exist in the market to determine which of all those that offer a loan with the necessary amount and duration, is the most profitable for your situation.
Once you have selected the financial institution in which you are interested, verify that you meet all the necessary requirements for your application to be approved.
Requirements when applying for a loan online
The minimum requirements when applying for an online loan will depend on the policy of each lender, but it is true that most ask for at least the following conditions:
- Regular income: generally, you will have to prove your financial solvency and, for this, you will have to provide documentation that proves that you have enough regular monthly income to be able to pay the loan fee. It does not have to be a payroll, it also serves the unemployment benefit or when you are a pensioner.
- Age: it is true that you must be of legal age but there are many companies that will ask you to be at least 60 or 75 years old.
- Place of residence: it is a requirement for all companies that live in Spanish territory.
- Late payment lists: it is possible to get loans with credit institutions but you should know that being listed in the delinquency files can be a reason to reject the online financing application.
On many occasions, we can apply for our loan online without having to submit a lot of documentation, but on other occasions, you will have to present the following documents in order to verify the authenticity of the data you have provided in the form:
- DNI or NIE: the identity document of the person requesting the loan or credit and that is in force
- Bank statement: to prove economic solvency and prove ownership of the bank account
- Proof of income: to show that you can face the payment of the loan or credit.
Find the best online loan with Hayes
Hayes is an online financial product comparator that aims to help its users find the most profitable loan for their situation.
The Hayes service will present you with an updated list of loans, including information about them, such as your requirements, interests, advantages and loan conditions.
In Hayes we also let you know if there are hidden expenses or additional commissions, so that you can request your loan without surprises or small print.
Our service is fast, easy and non-binding. And all completely free and 100% online.