On the part of those who are now approaching the world of credit, there are many frequently asked questions on fast loans, doubts and uncertainties that can be seized even by those who are already accustomed to the universe of loans but have only a vague idea of what fast loans are, what characterizes them and the differences compared to normal personal loans provided by credit institutions and financial companies. On this page you will find all the so-called FAQ, or frequently asked questions about fast loans emerging from the research on the Net by Internet users, with the answers necessary to resolve the questions.
Considering that the possibility of requesting online funding has significantly reduced waiting times for the provision of a sum of money, we have extended our analysis also to all those types of fast loans on the web that also include the sale of the fifth, the loan between private individuals or that granted through the issue of bills of exchange. Here you can find everything about the quick loan, how and where to get it.
What is a fast loan?
There is talk of a fast loan when a personal loan, that is a loan not aimed at a specific purpose, such as a purchase from a retailer, but paid without any expense document, is issued by a bank or financial more quickly than to classic financing.
Usually a rapid loan provides for the disbursement of the agreed amount within a maximum period of 48 hours from the moment in which the loan application is accepted, thanks to a more streamlined and simplified procedure. Fast loans can have even shorter time frames, so much so that it is customary to even speak of immediate loans, and in this case the disbursement takes place within 24 hours.
How much can I request with a quick loan?
There is no statutory deadline regarding how much to request with fast loans, however the amounts are generally limited, although there are financial ones that allow you to obtain higher capital: generally
the sums disbursed through this method are either small loans that do not exceed 5,000 USD, to be repaid through agreed amortization plans that vary according to the risk policies applied by the individual banks, or loans of even high amounts, up to 50,000 or even 75,000 USD, disbursed more quickly thanks to online procedures.
What is the minimum and maximum duration of a fast loan?
A fast loan provides, as any non-finalized loan, an amortization plan agreed with the finance company, and which can vary depending on the needs of the client and the policies implemented on the product by the individual institution. Generally
the minimum and maximum duration of a fast loan can be between 12 and 120 months, and very often the financial companies allow the amortization plan to be modified, extending or shortening it together with the amount of the installment.
How to get a fast loan?
The fast loan is a service that is offered by most credit institutions and financial companies operating on the national market: generally the simplified procedure is possible
by virtue of the use of the new digital technology tools, which make it possible to skip many intermediate steps in the preliminary investigation phase, to evaluate the final disbursement of the loan, saving both time and money. This is why in most cases we speak of fast online loans, to be requested and obtained through the official website of the financial company, following the instructions given, which basically involves the compilation of a form in which to insert your personal data next to the request financial.
How to get a quick loan without a paycheck?
Some financial companies also grant fast loans to those who do not have a pay slip, or all those who fall under the so-called atypical work contracts, and are self-employed or self-employed. Obviously the applicant must always demonstrate the solidity of his financial position, in order to guarantee the return of the capital and the related interests, by presenting the income documents provided for in these cases – In these cases we speak of
fast loans without guarantees, or without the signature of a third party acting as co-obligator guarantor, or other forms of protection to be submitted to the applicant at the time of drawing up the contract: if the bank considers the monthly income indicated on the documents sufficient and therefore certifies the financial reliability of the debtor, grants the loan without the need to involve guarantors. However, alongside the loan, an insurance policy is signed which protects both the lender and the debtor, in the event of impediments in the timely repayment of the installments, not attributable to the will of the person who received the sum of money, such as loss of employment, accident on the work and also the anticipated death.
How to find a fast loan?
If you are looking for a fast loan but do not know where to start the search there is nothing better than to exploit the resources of the web, since credit institutions and financial companies specifically use the Web to deliver within faster times than standard procedure funding for their customers. Then there are on the Net
of sites and portals designed specifically to compare the interest rates of financial companies, a very useful tool for discovering the promotional offers of the moment or more generally the lowest rate for your needs. Alternatively, the sites of the most important online banks all have simulators to put together the desired capital with the amortization plan, to discover the ideal combination based on your financial situation.
Who can apply for fast loans?
Quick loans can be requested by employees with permanent contracts, both public and private, with training contracts, apprenticeship contracts or retired employees. Demonstrating solid guarantees and alternatives to the presentation of the pay slip
they can also apply for quick loans for self-employed workers and freelancers, alternatively presenting the Unico model or the tax return that certifies the sustainability of the loan.
What are the requirements to get a fast loan?
There are three types of minimum requirements to be able to access a fast loan, just like for other types of loans, and they are:
- Applicant’s age, which must be understood, except for exceptions, between 18 and 75 years
- Creditworthiness, or the reputation of the subject dictated by his financial past, as well as his suitability to obtain a credit from a credit institution or financial company, on the basis of the ability to face the commitments assumed with punctuality and without delay
- Type of employment, that is the personal data necessary to access the credit, those that mainly concern the applicant’s profession and the consequent income level
Is the fast loan an unsecured loan?
An unsecured loan is defined as any type of loan that does not require collateral, as can be considered the mortgage on a property or pledge, but only on the applicant’s handwritten signature, which therefore represents the only guarantee required to access to financing. It can therefore be deduced that
the fast loan is absolutely to be considered an unsecured loan, unless it is disbursed in certain situations against other real guarantees compared to the standard ones described above, since it just requires the signature of the beneficiary at the time of stipulation, whether this physically pass through a branch that is entirely online on the web through a digital signature.
Given these peculiar characteristics, the unsecured loan makes it possible to obtain sums that are not large or in any case lower than for example a mortgage, and presupposes the verification of certain characteristics by the requesting parties, in order to ascertain the solidity and sustainability of the income with respect to the sum received by the beneficiary, and also the creditworthiness of the subject who must not have problems related to previous loans not reimbursed. Only in small cases, the credit institution requires a patrimonial guarantee at the expense of the income guarantee, when it is not sufficient.
How to make a quick loan: the documentation
The documentation required for a fast loan is exactly the same as that of a normal personal loan: the following certificates must be presented next to the loan application:
- Copy of the identity document
- Tax code or health card
- Income document: last two payslips for employees, Unico form or income tax return for self-employed persons, social security check slip for pensioners
The documents must be physically presented in the agency or digitally submitted attachments and sent online to further reduce the evaluation time frame. Next to the standard documentation presented here it is possible that additional certifications are required by the financial institution depending on the financial position of the individual subject.
How to apply for a fast loan? Filling out the form
To request a fast loan, once the loan has been identified, it is necessary to go to the dedicated page and fill in the present form, whose data to be entered are usually the same in all:
- Personal data (name, address, telephone, email, etc.)
- Capital required
- Amortization plan chosen (the number of monthly installments to make the repayment)
Once the data has been entered you will receive a reply within a few minutes on your e-mail inbox, from there on you will follow step by step the instructions of the financial company, with the documentation to be attached (see above) and the stipulation of the contract, which many companies allow to make online safely 100% guaranteed by the digital signature.
What is TAN?
In rapid loan advertising two percentage values are highlighted: the first of these is the TAN, an acronym that indicates the
Nominal Annual Rate, that is the interest rate applied to the capital, the one we are going to pay in the restitution in addition to the sum paid.
What is the APR?
The other percentage value indicated in a fast loan is the APR, an abbreviation that indicates the
Annual Effective Global Rate, ie the set of all financial costs and charges related to the loan: ranging from commission expenses to those of practice opening or for a possible early repayment of the loan. Some financial institutions clear some or all of these expenses, depending on the policies applied by individual credit institutions.
What are the costs that can increase the APR?
We mentioned in the previous chapter what are the costs that can increase the APR of a fast loan, and that should be taken into consideration when comparing the various estimates of different financial companies. Not necessarily the following are all contemplated, because depending on the various financial policies it is possible that some of them are completely canceled, but in general these are the expenses and ancillary costs to be taken into consideration:
- Preliminary charges : accessory charge, to be borne by the applicant of the loan, which are applied to cover the costs of evaluating and managing the loan application. They are generally paid in a lump sum at the time the loan is disbursed
- Deposit Collection Costs : are provided when a customer pays the monthly repayment installment with direct debit on a bank current account (RID), for which the bank applies the collection fees to the financing institution, which in turn places these expenses in total customer load.
- Expenses for sending the Account Statement : the provisions on transparency provide each year to send the customer an account statement summarizing his debt position, a useful tool for the user who can thus verify the correct progress of the repayments: this sending the statement of account in the form of paper material can be a charge paid by the customer.
- Other ancillary costs : there may be several, for example we point out those that in the event of insolvency, in addition to any default charges, may be charged to the insolvent customer, such as costs for payment reminders, formal notice, recovery telephone, and so on.
- Insurance costs : these items are optional or compulsory depending on the type of product, and are generally paid either in a single installment or monthly together with the amount of the repayment installment with interest. These costs are therefore to deal with any risks of insolvency in the event of death, loss of work or permanent disability, but remember that the insurance protection does not start automatically but the insured or his family members must promptly communicate the emergence of insolvency.
Can a fifth assignment be a quick loan?
The financial companies that present a fast lending service also include the sale of the fifth in the financial products package, that is, a loan reserved for employees and retirees that allows repayment of the disbursed capital
through the direct withholding of the monthly repayment installment by the employer or the pension institution that pays it to the financial company: the amount of the monthly installment cannot exceed 20 per cent of the total income, precisely one fifth of the total received.
What is the difference between personal loans and salary-backed loans?
There are differences between personal loans and salary-backed loans above all related to the access requirements: while the former is open to anyone between the ages of 18 and 75 who demonstrates a proven financial soundness, on the contrary the salary assignment can be employed by public sector employees, private sector employees with permanent contracts and retired employees. This is related to the repayment terms, which
in the personal loan it provides that the monthly repayment installment is paid by the debtor to the credit institution or to the financial company through postal order or debit to the current account, while the salary assignment is deducted from the salary or social security check, so it is the company or administration where you are employed or retired to repay the amount due. Thanks to this method, which offers greater guarantees to the funding body, access to credit is also provided for the worker who presents other loans in progress, but also for those who have protests or foreclosures, and therefore would normally have difficulty obtaining a loan normal.
What are the financial conditions of the sale of the fifth online?
The financial conditions of a loan with the sale of the fifth do not change, whether it is requested using traditional channels or through the online methods that make it a fast loan. Regarding the repayment duration
it goes from a minimum of 24 months to a maximum of 120 months, and it is possible to extinguish the fifth sale in advance by formally requesting the option to the finance company, which will provide the amount of the residual debt to be paid. However, this operation is possible only after at least two-fifths of the entire amortization period envisaged at the time the loan repayment contract was signed has passed.
What is the payment delegation?
The delegation of payment is also known as double fifth of the salary, and it is a mode of financing reserved for employees who just need more liquidity and can afford to add a second deduction to the fifth transfer installment, whose maximum amount can be equal to another 20 percent of the salary, for a total of 40 percent of the total income.
Like other financings offered by the financial companies that operate on the web exclusively or next to the normal activity on the territory, also the delegation of payment can be requested online, therefore the times of evaluation and disbursement of the financing are shortened enormously compared to a normal request in branch. Instead we remember that pensioners cannot access the loan with payment authorization, as the State forbids that net of the withholding it is possible to go down to an income level below the minimum threshold established each year, for a figure of around 500 USD.
Can bad payers get a quick loan?
Those who have had financial problems in the past are reported as bad payers and inserted for a variable period of time in the CRIF archive consulted by all the banks and financial institutions of the circuit: for this category of subjects, as for the protested, access to the credit is more difficult and the practice follows the same procedure concerning classic personal loans for bad payers: the only difference between these two types of loan
it is linked to the granted capital, which in the case of fast loans are limited amounts, therefore the loan can be disbursed with greater ease and in a shorter time, but the eventual supply ok is always linked to the risk policies of the individual institution. If at the end of the preliminary investigation the asset guarantees and any other protections are considered sufficient, the fast loan for bad payers is disbursed within a maximum of 48 hours.
Are there fast loans for independent payers?
Yes, those who do not have a salary as an employee and have an independent professional or entrepreneurial activity, and have had problems or difficulties in repaying previous loans, can turn to financial companies that provide fast loans for autonomous bad payers. In this case the documentation to be presented provides
next to the loan application and identity documents and tax code, a copy of the Unique model for the previous fiscal year, in addition to all the documentation that may be requested in addition by the financial institution to assess the creditworthiness of the subject who has requested the money.
Who has suffered a protest can get a quick loan?
The speech for the so-called protested users is absolutely the same for the bad payers reported in the CRIF, ie it is not absolutely impossible to request a fast loan, however due to the delicacy of the financial situation, access to credit is more difficult, and it may be necessary to resort to the assignment of the fifth or to the presence of a guarantor to obtain the loan, extending the time of evaluation and disbursement. Anyhow
there are mainly financial companies on the web that promise ad hoc solutions for protesters who can therefore apply for fast online loans, although it is impossible to affirm a positive assessment of any funding application, since it is necessary to contemplate in such situations on a case by case basis.
Can one get fast loans without pay check?
Some credit institutions and financial companies allow you to obtain fast loans without pay slips, reserved for those who have an atypical or precarious work contract and therefore cannot present a pay slip as a guarantee of income. These loans are granted for small amounts and must in any case
present income guarantees or alternative forms of property ownership: in the absence of this, a quick loan without a pay slip requires the presence of a third party guarantor as guarantor who is responsible for the monthly repayment installments, in case of non-payment by the debtor main. The guarantor must have a solid income position and not have registrations as a protestor or bad payer.
How to get a small loan fast
The request for a small fast loan is exactly the same as that of a normal fast online loan: the only difference is linked to the amount of the amount disbursed, which usually varies according to the institution
from a minimum of 500 USD to a maximum of 3,000 USD, with variable or fixed repayment plans. Also in this case it is necessary to inquire at the chosen bank, because the financing conditions may vary from one institution to another. The small fast loans allow the applicant to obtain the amount requested within a few hours from the presentation of the application: the preliminary investigation foresees even more stringent times than that of normal fast loans, ideal for those who need less liquidity of 48 hours.
Can I ask for a quick loan if I have other loans in progress?
Absolutely theoretical, it is absolutely possible to apply for a fast loan with other loans in progress, as long as the level of indebtedness of the subject remains sustainable, and it is an assessment that belongs solely to the financial company in accordance with its own risk policies. In these cases generally the proposed solution
is the so-called debt consolidation loan, a financial instrument that adds new liquidity in addition to the loans already in progress, which are combined in a single monthly installment of amortization to be paid only to the financial institution in which the debt consolidation has been activated, even if the others financing had been stipulated with other institutions. The only caveat is that with the debt consolidation loan the interest rates are generally slightly higher than the market average.
What is the difference between fast and instant loans?
Some financial institutions allow you to obtain not only fast loans, but also immediate or very fast loans, loans that have the fastest evaluation and disbursement times in the credit market as a peculiarity: in this case we speak
of amounts of very few thousand USD and disbursed within a maximum of 24 hours. These are loans that can represent an alternative solution to bank credit when there is an urgent need for liquidity.
Where can I make a quick loan: which financial choice?
The choice of the finance company to make a fast loan is very wide, and therefore it can put the neophytes in difficulty and those who are generally unfamiliar with loans and financing: the advice in these cases
is to use the websites to compare the best offers on the market at that time, so you can choose the most sustainable financial solution for repayment of capital, the presence or absence of ancillary charges, and any other element that may affect depending on your financial situation.
What are the methods for repaying a fast loan?
How to pay the monthly loan repayment rate fast ? The methods are identical to those of a classic personal loan, but payment of postal bills is also preferable for the bank, as well as being a convenience for the debtor himself.
the use of direct debit on the current account that occurs automatically once set. The so-called RID is sometimes chosen by some financial institutions as the sole method of repayment, especially for those that operate exclusively online. Even taking advantage of this repayment option it is advisable to always watch with the utmost attention that the installment has been regularly paid by your bank and that the payment has been successful, as otherwise the financial companies could still register the payment delay.
What does amortization mean?
When a fast loan contract is entered into, either online or by going to an agency that is physically present in the territory, a repayment plan of variable duration is established that provides for monthly deadlines for the repayment of the principal with interest. We talk about
loan in amortization when a repayment due on the loan is in progress. This is how a loan amortization plan is defined as such detailed planning of the loan calculated installment by installment, and the prospectus states that, with reference to each repayment period, the precise amount of the installment, further broken down into principal and interest share ), together with the extinguished debt and the residual capital. In the fast loan, as in most of the loans disbursed in our country, the French depreciation plan is preferred, which provides for the division into installments of a constant amount for the entire duration of the loan, with an interest share decreasing over time and a share capital in progressive increase.
What happens in the event of payment delays?
Exactly as for a normal personal loan, even with the fast loan the delay in the payment of the monthly repayment installments of the capital can entail two types of consequences:
- Blackberry : the expected interest is subject to an increase set at a certain percentage based on the provisions of current legislation
- Registration at the Crif archive : in the event of continuous delays, the financial company, believing that the creditworthiness of the customer has been compromised, implements the procedure that leads to the registration of the profile of the subject at the Crif archive, a credit information system consulted by all the banks that operate in the sector, for a period of time determined according to the type of ‘infringement’ committed, and which makes access to credit much more difficult for the user in the future.
Since the fast loan via web is also a very flexible tool, the financial companies that allow the customer who is in a temporary state of financial difficulty to repay the installments to take advantage of instruments such as the Salto Rata, or to modify the amount thereof extends the amortization period, precisely to meet the needs of users and to avoid disputes.
What does a bad loan mean?
There is an intermediate phase between the moment in which the beneficiary of a loan is regularly providing for the repayment of the agreed capital and interest, and that in which he is reported as a bad payer and therefore entered in the Crif archive for a period of time established by law, making its access to credit more difficult in the future: in this intermediate phase we speak of a bad loan, and it indicates precisely the moment in which the collection by the credit institution or the financial company experiences a state of uncertainty precisely because of the insolvency situation faced by the debtor.