The procedure for issuing a loan with a personal appeal to a bank has become less and less popular in recent years. In step with the times, dynamically developing banks began to offer customers a loan without leaving home or right at the workplace. This is the so-called online lending.
Today, there is often a need to urgently borrow a small amount of money. But in fact, every person works, and in order to get a loan, you usually need to appear at the bank in person. The way out in this situation is to get a loan online. Almost all banks offer online lending services, which will allow you to spend a minimum of personal time and achieve the desired result.
Search for online lending offers
In order to choose the least expensive loan, it is necessary to make a comparative characteristic of banks' proposals in this direction. It is not always convenient and time-consuming, especially since there are a lot of banks today. You can choose those that are regularly heard thanks to advertisements and reviews from friends. Or use the websites of intermediaries, thanks to which your loan application can go to several banks at once. On such sites, as a rule, you can see simultaneously the terms of lending to these banks. This makes it much easier to choose the right bank with the most favorable credit conditions.
Procedure for online lending
On the website of the selected bank, you must fill out a potential client's questionnaire, which indicates the surname, name, patronymic. Fill in the data on work, position and income level. Choose the type of loan you are interested in and be sure to indicate your mobile and home phone numbers. After that, the request will be sent to the bank and after a while the responsible manager will contact you to fill out an extended questionnaire and process it. To fill out a questionnaire in electronic form on the site, you need to fill in all the fields clearly, without missing anything. This is important for the quality processing of a potential borrower by bank managers.
Most often, such loans are issued to a credit card for the greater convenience of the client. After the loan is approved, you can do two things: pick up the credit card in person at the bank or ask to send it by mail to your home. Now the second option is most often preferred, then there is no need to contact the bank. Together with the card, its PIN code, tariff package, agreement and preliminary payment schedule are sent.
Pros and cons of lending online
The undoubted advantage of such credit cards is that in most cases, interest is charged after the entire or partial amount of the available limit has been withdrawn. At the same time, almost all banks establish a so-called grace period of about 50 days. This period allows you not to pay interest at all if you withdraw and return the entire amount during these days.
The downside is the small loan amount for today, since credit cards are risky products. The bank may impose high monthly fees, interest on cash disbursements, or early repayment penalties at a very low annual rate. Therefore, when choosing the conditions, you should carefully study the entire tariff plan of the loan, so as not to choose not at first glance a very cheap, but ultimately the most expensive loan.
