The
differences between online loans and bank loans they are perfectly defined. It is essential to know each one of them, in order to have a well-founded basis when choosing a financing method that meets the particular needs of each client. On
The comparison We tell you what you need to know about it, especially the implications of the
online loans with Asnef.
What are the main differences between online loans and bank loans?
1. Amount of money available
Online loan companies often offer
very small amounts of money, understanding that a much larger volume of cash is not available in its coffers. You want to resort to this modality, it is because you need to solve an emergency, which generally does not exceed 5.000 euros. For their part, the large banks do handle large amounts, simply because they have them. In addition, banks offer different options that adjust to a particular need, so it is necessary
compare loans to know which one is the one.
2. Requirements
Another difference between online loans and bank loans is the
number of documents requested for approval. The online option requires only the
ID, email, bank account y
adulthood.
The traditional method is a bit more demanding in this regard. It is that in addition to the amount of papers that they require from their clients, they can attach some more if necessary.
3 Comfort
Online finance companies
they don't require their clients to show up at a specific location. In fact, the process can be completed through any mobile device or computer, from the comfort of home or office. Instead, the banks
They require the physical presence of their clients.. Procedures can take a long time to process, so you can spend hours waiting to be seen.
4. Response time
Response time can be up to
24 hours In the case of an online loan, so you can enjoy the requested money almost instantly. Now the banks
can take days analyzing your financial situation, evaluating your credit history and corroborating the information presented. At the end of all this, the chances of the application being rejected is great.
5. Ansef delinquency list
If your name is on Ansef's delinquency list, you will most likely
loan application is rejected by a traditional bank. This is a precedent that generates much more credit risk, so the entity thinks very carefully before making a decision. But today, some entities have made an exception and approve loans to defaulters under certain conditions. But for this, they will surely request many more papers as guarantees. online lenders
they don't pay much attention to this condition and even being on this "black list", you will be able to receive financing from them. For this reason, many people choose this modality to access fast money.
Online loans or bank credits: Which is the best option?
Loans or credits are methods of
financing to reactivate the economy. But if you are wondering which of the two is the better option, the answer will simply depend on your own needs. To do this, you must weigh whether you require large sums of money to purchase a property or moderate amounts to remodel your kitchen, for example. If the first option is your case, then you should look for the
traditional methods; If not, online financial companies could help you. Take into account the time it takes both banks and online lenders to respond. There is no doubt that if you need the cash immediately, you can choose the online method. But if you can expect to get a lot more, go for banks.