In life it often happens that money is urgently needed, and before getting a salary is still far away. Borrowing money from relatives or friends is not a hunt, but what to do. An economical option would be to arrange a loan.
Internet technologies allow citizens to get loans online. You need to find a financial company that provides loans in this way. This can be either a bank or a microfinance institution.
Bank or MFI?
Almost all banks and MFIs issue online loans. Where to fill in the application?
First, you need to find out how the clearance works in the bank and in the MFI.
Banks give fill out an online application only to existing customers. That is, you need to have an open bank account there or a plastic card issued by this financial structure.
But this is not enough either. You need to have an activated internet banking service, i.e. account on the bank site. And registration of a personal account in online banking sometimes takes a lot of time, it requires going through a tedious client identification procedure. To do this, often have to go to a branch of a financial institution.
Compared to banks, lending to MFIs takes less time. For lending, you do not need to be an MFI client: any application can fill out an application on the site. Many companies do not even require registration. If registration is required, it does not take more than a few minutes.
Requirements and conditions
Before you choose a financial institution to arrange and receive borrowed money, you need to know the terms of the loan and the requirements for a potential borrower.
To get a large amount for a long time is almost impossible, especially if a person uses the services of a particular financial institution for the first time.
The client can rely on a loan:
- up to 30 000-100 000 rubles;
- for a period of several days to several months.
The average loan term in an MFI is 30 days. But there are microfinance organizations that are ready to give long-term loans.
Interest rate is often determined for the client personally. But all financial structures have a single approach: interest is credited for each day of using borrowed funds. Pay attention to the size of the interest rate, which is formed taking into account all expenses (for example, monthly payments for account maintenance).
Each financial structure develops personal requirements for potential borrowers who want to get a loan online. These requirements are as follows:
- Russian citizenship;
- The borrower’s age must be at least 18 years old (sometimes the minimum age is 21 years). Some companies set the highest age of the client (mostly 65-70 years);
- the presence of a permanent residence;
- plastic card issued by one of the banks of the Russian Federation.
Some companies also impose additional requirements in the form of constant monthly income, long-term work in one place, etc. Often, credit history does not play a role when applying for short-term loans, and even clients with a bad history can receive money. But upon filing an application for a long-term loan, such a credit history can be a reason for rejection.
When choosing a financial institution, first calculate the profitability of the terms of the loan, which the client determines for himself.
What else to pay attention to?
In addition to the main conditions of the loan and the requirements for the borrower, when choosing a financial organization, pay attention to other circumstances.
The first thing that you also need to pay attention to is the possibility of prolonging the loan. Financial structures provide such an opportunity to those customers who cannot repay borrowed money on time. But there are those who have no such opportunity. The client will be in arrears, and the credit history will be spoiled. It is important to remember that the extension of the loan is provided at the time of repayment of interest credited at the moment.
The next factor is the possibility of early repayment of the loan without charging penalties and fines.
Pay attention to:
- ways to repay the loan, which offers a specific financial structure;
- the possibility of processing multiple loans online;
- the amount of fines and penalties charged in case of late fulfillment of the client’s loan obligations.