Online lending is a form in which the request is made via the Internet (and in some cases via telephone or ATMs) and the money is deposited directly into the beneficiary’s account.
The modality can be a quick fix for those who need small amounts to solve an emergency problem, such as a health issue, for example.
The fees charged are higher than in the case of a payroll loan.
LowCost Credit is not a financial institution, so you can not lend online. The tool is useful, however, because it allows you to collate your loan with various institutions, such as Unity People Bank, LendCost and Interest Bank.
In addition to the online option, it is possible to quote on the payroll loan site, secured by property and vehicle. To get started, simply answer your occupation and the loan payment method.
The online loan mode offered by Lite Digital Credit
Available only to bank customers, it is contracted over the internet or at ATMs and the amount is immediately deposited in the checking account. On the site, you can make a simulation of the loan, putting amount, term to pay and the date of payment of the first installment and knowing what the value of the installments.
The bank gives up to 45 days to repay the first installment and the loan repayment can be split up to 48 times. There is no need to sign any documents or income, however, this mode is only available to some eligible clients. The maximum limit is $ 50 thousand.
At Faxmin you can simulate the loan online, however, to close the contract you have to go to the correspondent of the nearest company. Payment can be made by credit card and, in some cases, debit card. The maximum term is 18 months if the contracted amount is less than $ 1,000 and 24 months for an amount equal to or greater than $ 1,000. The amount is deposited in a checking account. Those who do not have a bank account can apply for a loan. However, the maximum limit is $ 2,000.
Also exclusive to account holders, Interest Bank’s online loan allows eligible customers to borrow up to $ 1,000. To apply, I need to access Internet Banking, run a simulation and submit a proposal. The result comes out on time. If the proposal has been approved, you must validate the contract with the debit card password over the Internet and the money is released to the checking account on time.
The online loan LiteCasa can be simulated directly on the Internet.
Subject to credit rating, the facility allows the customer to receive the money directly into the checking account through DOC or withdrawal from a LiteCasa branch. The request-response leaves in 15 minutes.
In order not to take risks in this type of loan, it is important to know if the chosen institution has credibility. To do this, make sure that the bank or financier is properly registered with the HitLow Bank. Payment methods vary by institution, but maybe automatic debit on your checking account, check debit card, and credit card.
Online lending can be a way out of solving a one-off problem, but resorting to this type of lending constantly is not a long-term solution as interest rates are often relatively high. Remember, the best way to financial independence is to invest in financial control which will allow you to set up an emergency fund through monthly investments, so you don’t have to borrow online.