One-click, a few minutes of waiting and … money is already in your account. More and more banks are offering loans only available online. You do not have to leave the house and the money directly affects the account.
Quick money transferred directly to your account. This is the basic advantage of loans available online. In addition, they are no different from ordinary cash loans. You can take them for any purpose, often you do not need to provide additional security. But for it to be fast, you have to wait a bit first.
Discover online cash loans
The amount proposed by the bank is visible after logging into the transaction system. The limit is updated on a regular basis, based on customer activity.
To take advantage of the online cash loan offer, the customer should visit Green here >> and complete the loan application on a simplified online form and wait for it to be considered. We repay the loan in the same way as for a product granted in the standard procedure.
Base: framework agreement
There are currently 5 banks offering per click loan: ProLife Bank, uBank, Serituu Bank, FastHi Bank, and EnterGo. in ads they ensure that we get the money in a maximum of a quarter. But beware. The money will not always be in our account in such a short time. This quarter usually concerns the time needed to issue a positive credit decision. And how to take advantage of such an offer? You must be a regular customer of the bank and sign the so-called framework agreement. The Framework Agreement is an agreement for the provision of banking services. It is concluded once with the client in the branch or by correspondence. It enables the use of selected accounts, credit and deposit products without the need to conclude additional contracts.
Fastest in 10 minutes
Banks say that 10 minutes is the optimal time when they will manage to complete all formalities related to granting the loan. Because after signing the framework agreement, there won’t be many. After all, the bank knows the customer’s history, knows how actively it uses the account, how much income it has and how it settles its liabilities. in practice, the time may be slightly longer. However, if we have an impeccable reputation as a borrower, we can get the money much faster than when applying for a loan in a branch.
How much is it?
Access to quick money is of course not free. It is a regular cash loan with the difference that the money flows into our account faster, and the bank, usually as part of a promotion, will offer us, e.g. a lower interest rate or a lower commission.
But not always. at uBank, the luxury of faster money costs more compared to a loan granted in the standard model. The limits in the table are the amounts available to customers requesting them exclusively via the internet. The differences in the offer are significant, both in commission and interest rate. however, the most important thing about this financing system is the ability to get money quickly. And for quick access to the cash you have to pay more. In addition, taking into account the so-called fast credit path and maximum simplification of procedures, the product is worth interest. By the way, it is also worth mentioning that two customers of the same bank may receive different terms for such a loan. Much depends, e.g. on the number of additional products held at the bank (investment funds, deposits, other loans).
Is money available in a few minutes and in a bank? It doesn’t have to be a fairy tale
Open product contracts allow you to receive funding faster than a standard procedure. Banks treat each customer individually. High limits do not mean that we will get, for example, 100,000 dollars in cash. The amount can be divided into an overdraft facility, a credit card and a cash loan. It all depends on the customer’s situation. in the case of such products, it is not uncommon for the bank to offer such an offer. It is then cheaper than if we had applied for it ourselves. For example, in uBank, the difference in interest rate may amount to even one percentage point. With a loan of $ 10,000 bearing an interest rate of 15%, which we repay for 5 years, a decrease of one percentage point saves about $ 5 on each installment.