Online loans are a form of financing which can only be accessed through the web channel and have the distinction of being cheaper than the traditional channel. Convenience depends on many factors and ranges from the conquest of new market shares by the online bank to customer loyalty for traditional banks. Respectively, the first ones are present with their organization only online, so that not having costs of structure and staff are able to guarantee advantageous conditions.
The latter, on the other hand, offer products that are dedicated and managed only online, thus giving up assistance in the branch . Both methods of financing give the opportunity to comfortably manage the practice from home without neglecting, the possibility of receiving virtual assistance and the possibility of being able to compare the various opportunities on the market. All just a click away.
How do they get?
Online loans can be distinguished by type of customer . For convenience we group potential customers in two distinct macro classes in individuals and companies. We focus on loans granted to individuals. In this macro category we further distinguish consumer credit from personal loans. In the online consumer credit we find the following types of products:
- personal loans;
- assignments of the fifth;
- credit cards;
Personal loans among which we distinguish instead:
- loans for restructuring ;
- loans for medical expenses ;
- loans for the purchase of cars or motorcycles ;
- liquidity loans;
- loans for different kinds and so on.
Whatever type of loan it is necessary to know the requisites necessary for the supply to be possible. In general, the minimum requirements for obtaining online funding can be summarized as follows:
- age of between 18 and 70 years;
- demonstrable income from payroll and income tax return;
- residence in the Italian territory;
- current account presence generally of a banking nature.
The loan will be carried out, following a preliminary investigation, based on the client’s reliability assessment
The greater the creditworthiness of the applicant and the higher the probability that the loan will be paid out. In addition to reliability, the disbursing institution will also assess internal risk policies, essentially considering the statistical data in its possession called in the technical jargon of credit scoring. Data reliance is particularly useful for keeping the risk of insolvency under control. The reliability of the customer is evaluated by consulting the data received from the CRIF risk center, which records both the missed payments and their late repayment.
In addition to the minimum requirements, it is possible that the bank or the financial institution dealing with the loan can ask for additional guarantees . Generally they are required for some types of loans, for important amounts and to limit the risk of insolvency. Among the possible additional guarantees we distinguish the real ones represented for example by mortgages, the co-obliged ones, that is the intervention of a third person who takes care, in case of non-payment, to honor the debt and finally the insurance coverage.
Whatever loan you are going to request is good to make a comparison with what is proposed on line pay maximum attention to both the reimbursement rates that will be applied to the penalties in case of failure to timely repayment of the same without neglecting the mode of withdrawal and early extinction. Generally penalties and recess are not taken into consideration but a careful reading of the contractual clauses can make sure to avoid being harnessed in contracts that are unclear and transparent.
The online loan can be requested quietly, verified the minimum requirements , filling out appropriate forums on the web by filling in all the fields related to personal data and economic data. The web system will analyze the basic data entered and will carry out a preliminary investigation following which specific documentation will be required for the improvement of the practice itself.