Online credit: request, conditions, amounts
In the digital age, many organizations offer online credit. This financing solution was designed for individuals, to help them finance their needs as quickly as possible. In this article, we will tell you all about online credit, from how to apply for it to how to get it.
What is online credit?
For several years, the development of the Internet has enabled various financial organizations to offer their credit offers directly online. Online credit is a loan made entirely on the Internet, without the need to travel to a physical agency.
Like all credit, online credit allows you to borrow money to finance your needs or to deal with unforeseen events, such as:
- A honeymoon;
- A vehicle purchase;
- Works ;
- Other personal needs like cash needs.
The latter is open to anyone over the age of eighteen whose tax domicile is in France.
The amount of online credit is calculated according to your needs, your repayment capacity and the type of credit to which you wish to subscribe.
So you can borrow:
- From $ 50 to $ 1,000 with fast credit;
- From $ 1,000 to $ 6,000 with revolving credit;
- From $ 6,000 to $ 75,000 with a personal loan;
- Over 75,000 $ with a mortgage.
What are the types of online credits?
On the Internet, it is quite possible to take out various consumer loans.
These last are :
- Affected consumer credit, which finances a specific need such as car credit, motorcycle credit or even work credit;
- Unallocated consumer credit, which allows you not to explain your expenses and to use your funds as you see fit, such as personal loans;
- Revolving credit, which allows you to get a reserve of money that you can use as you see fit;
- The home loan, which allows you to finance a real estate purchase. If not all credit agencies offer the latter, banks and and online lending institutions remain more attractive and flexible.
How to get credit online?
The conditions for obtaining online credit are similar to those for traditional credits.
Thus, you must in particular:
- Have regular income;
- Not to be prohibited banking;
- Do not exceed the debt ratio of 33% on all of your credits.
To obtain online credit, there are two possibilities:
- Go directly to the site of a credit organization;
- Or use a price comparator.
Choosing a credit institution’s website
Like Across Lender or Best Bank, a large number of credit organizations allow you to take out a loan request directly on the Internet.
If you choose to go directly to a credit organization site for your online credit application, you will have to complete various fields related to your profile.
This concerns in particular:
- Your identity ;
- Your address ;
- Your job;
- Your income;
- Your expenses;
You will then have to send by email the various supporting documents requested by the requested organization so that the latter sends you a reply in principle in return.
After the study of your file by the establishment in question, you will receive by mail or email a loan offer which you will have to sign and return in case of acceptance.
Finally, the borrowed funds will be deposited directly into your bank account.
The choice of online simulation
The online credit simulation allows you to have an overview of the global offers that could meet your needs.
Once the various required information has been completed, the simulator will give you:
- The borrowing rate;
- The number of monthly payments;
- The duration of the credit;
- The total amount due;
- The Annual Global Effective Rate (APR).
Choosing this economical solution will allow you to obtain an estimate in just a few minutes instead of several weeks at a physical agency.
We recommend that you use an online simulator before taking out an online loan, in order to quickly find the offer that best suits your situation.
Which organization to choose for its online credit?
You can take out credit online with the various players in the credit market. In addition, it is also possible to opt for a loan between individuals.
Loan between individuals
Appeared in the United States, the Loan between Individuals (PAP) or peer-to-peer lending (P2P) consists of borrowing without going through the bank.
Both parties agree on:
- The amount to be loaned;
- The repayment period;
- The interests ;
They can draw up an amicable contract or go to a notary to draft or sign the document.
What are the advantages of online credit?
Online credit offers you many advantages.
With the latter, you can get an agreement in principle in just a few minutes and thus save time by saving a physical process in a bank. Online loans can also help strengthen a loan taken out later.
In addition, the information is immediately accessible. You can carry out a credit simulation directly online and thus quickly know the number of monthly payments, their amount or even the APR.
Finally, the procedure is done remotely, which means that you no longer need to travel to the lender.
The only disadvantage of online credit compared to conventional credit is the lack of human contact because you do all the homework alone. Fortunately, our team of Across Lender experts is there to support you and advise you in your choice of online credit application.
How to do a credit simulation online?
To obtain the most advantageous credit, we can only advise you to use an online comparator. It is the best solution to find a credit whose interest rate will be low enough to reduce the amount of monthly payments or limit the credit over time.
To do this, you can use this free online comparator to find out the best rates currently in effect for your online credit.