The characteristics of fast loans

An unforeseen payment, a car that breaks down, a problem at home … Many are the circumstances of life in which we need cash as soon as possible. In addition to advances in work or recourse to friends and family, fast loans become a solution for many of these vicissitudes.

Fast loans allow you to get small amounts of money in just 24-48 hours and with repayment terms tailored to your needs.

The characteristics of fast loans

The characteristics of fast loans

This type of consumer credit is granted for moderate amounts, since they are designed for situations of great need for liquidity. It is something that also happens with mini-credits.2. The interests. They are usually high because they do not imply the payment of opening or processing commissions and the borrowing entity establishes interests around 20% APR to obtain its benefit.

The return terms. They are usually very affordable and vary according to customer needs. The entities do not have problems in extending the return terms everything you need, on the contrary. From Iago we recommend that you try to amortize it when not to pay a huge amount of interest.

The requirements to request it

They are not too many. Normally, a DNI number or residence card and the account number where you want to receive the money is enough . You can get it even while on delinquent lists like ASNEF.

Availability. As the name implies, the defining characteristic of fast loans is the speed with which you will have your money. The most common is that in just 24-48 hours you can have it in your account and it will never take more than 5 days to enter it.

The type of customer

Anyone can apply for a quick loan. It is said that entities grant it more easily to regular customers since they know their trajectory, profile and volume of income to face the loan. However, today the offer of entities that grant them is so wide that the requirements in this regard have been relaxed.

If you are going to apply for a quick loan we recommend that you value all the options you have, in Iago we do it for you if you wish, and that you read the loan subscription contract well. We do not want you to take last minute surprises when you have to face the payments.

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