November 14th, 2019Asking for a loan in these times is much more common than it seems. With the aim of being able to renew the car, to get married, reform the house, to take a master's degree or simply to achieve your inner peace with a dream that you want to fulfill.
However, there are several financial products that can confuse us. That is why we must differentiate between loans and credits, since they are very similar financial products.
A credit is a limit of money that the consumer may or may not have, while a loan is an amount that a loan entity delivers to the customer. Another differentiated data between one and the other is the interest rate that we will have in each of them. The interest on the loan is usually lower.
When we apply for a loan we can make mistakes or we may have some other questions such as:
Can everyone grant a loan?
The answer is NO. Only a few can offer this service such as:
National / foreign banks that operate in Spain, savings banks, credit unions, card and credit companies linked to financial institutions, private equity companies, department stores, supermarkets and shops and between individuals.
When you ask for a loan, what amount do you have to pay to request it?
None. When you apply for a loan, it is because you need that certain amount and nobody can claim money from you in advance. Once the loan is obtained, you must pay the signed amount monthly. Here you can calculate your quota .
What requirements do you have to meet to obtain a loan?
Be of age. Have solvency. Provide debt repayment guarantees. Not have current debts with defaults.
Will they ask me for some kind of documentation?
Yes. Obviously the finance company will request a series of documentation such as:
-Identification document.
-Work contract
-Proof of income.
-Income tax declaration
Regardless of your dreams, on loan you can get it without leaving home. We are the best loan search engine, 100% online.
