Loans without preliminary inquiry: online offers

Loans without preliminary fees, online bids

Loans without preliminary fees, online bids

The process for obtaining online loans, in addition to being faster and accessible at any time without an appointment, can give considerable advantages in terms of ancillary costs, preliminary investigation and first-rate installment collection, which participate in the total cost of the financing together with interest. To understand to what extent the subscription and management costs of the contract affect the total costs, it is sufficient to compare the TAN and the APR, which is the annual nominal rate for interest only and the annual percentage rate, index of the real cost of the product chosen.

So let’s see some examples of online loans with preliminary and management fees charged to the financial company.

Online loans from 2,000 to 10,000 euros

Online loans from 2,000 to 10,000 euros

 

The Bank Leluna group, through Consel, offers online loans from 2,000 to 10,000 euros, without preliminary fees, without installment commission and without costs associated with periodic reporting. The stamp duty on the contract is charged on the first monthly payment and is 16 euros. Until June 30, 2016, requesting 5,000 euros online to be repaid in 36 installments, the TAN is 8.20%, APR 8.76%.

Astrofinance offers online personal loans from 1,000 to 60,000 euros. The loan is designed to fully cover the costs of different projects, the disbursement and reimbursement are made by crediting and direct debit in the current account. Astrofinance clears stamp duty, preliminary investigation costs, costs for periodic communications with the customer and installment collection commissions. The digital signature service, indispensable for obtaining distance financing, is included, as are the options for modifying and postponing the monthly installment.

Flesh loan from InstaDirect is another example of a zero-cost loan, with no preliminary or management costs. Also in this case there is the possibility of making changes to the terms of repayment without additional costs. The stamp duty is zeroed for loans up to 18 months repaid through the Flesh Current Account.

How long does a loan request take?

Loan request duration

Loan request duration

The loan request duration should be as short as possible. This is the desire of most consumers who need a loan. That is why today the Internet is preferred for loan inquiries, because online is much faster. For example, appointments with a bank and going to the branch do not apply.

As a rule, credit inquiries on the Internet usually take only a few minutes. On comparison portals and in many Internet appearances of banks, the user is led by definition and concretization of his credit request through input masks. There, he has to provide his personal information and data on the profession, its income and payment obligations. After that, the credit request can be initiated. How long that takes depends on the user. Usually, only the most necessary data is queried so that the search effort and research are kept within limits. The answer or the offer will be made after the request also within minutes – so almost immediately.

Postal delay delays the request duration

Postal delay delays the request duration

In many cases, at the same time that a loan is possible, and on what terms, a pre-filled loan application is already made available, which can be downloaded directly. Alternatively, the delivery by mail is possible, which then takes one to two business days. The application must then be signed and returned to the bank together with the required supporting documents. This works mostly by mail and takes another one to two business days to complete. This then represents the actual loan request.

The mail is also necessary if legitimacy as a new customer is still required. This is done by means of the PostIdent procedure with a corresponding form in a post office, where you have to make representations. This takes extra time. Only then can the actual loan request be made and the loan request duration extended. Some institutes now use the VideoIdent procedure for legitimacy directly on the screen. This is faster.

A few days to a few weeks

A few days to a few weeks

After receipt of the loan application and the documents, an examination is carried out by the bank. In the majority of cases, it is only determined whether the information provided is complete and correct. Some institutes allow an examination on the day of the inbox. This is especially the case with so-called “instant loans”. Here too, it often takes two to three days from the processing of the credit inquiry to the loan payment, otherwise the process can take two to three weeks, depending on how intensive the audit is and the processes are organized. Also online is therefore some time for the loan request duration to calculate.