The Internet has seen the boom of quick credits without papers. Positive for some and painful for others, digitalization has been a new form of consumption of financial products. We are going to tell you how this phenomenon affects you, thanks to which you can obtain liquidity easily and quickly.
The digitization of the financial sector
Since the crisis ended, the banking sector has been convulsing. By the end of the year, almost 95,000 workers will be unemployed. And this despite the fact that the sector is in full expansion.
The reasons, according to the experts, have to do with the outsourcing of the business and with the increase of certain commissions. In addition, the banks have cut their expenses, but it seems that they do not finish deciding to open the credit circuit again.
Another of the radical changes associated with digitization has to do with our customs. Consumers are increasingly used to the use of new technologies. So technological solutions have been implemented to save you visits to the branches.
Thanks to banking software, fintech and web applications, it is now very easy to check the balance of your bank account, operate on the stock exchange or make transactions from your smartphone.
Advantages for the consumer
Thus, it is not surprising that as a consumer you have assumed the basic tasks of the bank employee in exchange for a reduction in margins of financial companies. Nor is it strange that the bureaucracy is moving towards minimization or that banking operations are becoming faster and faster.
Therefore, at present you can obtain financing without the need to move a single paper. It suffices to scan or photograph the physical documents and send the digital ones via e-mail or web forms.
The practical application of banking digitalization: fast credits without papers
This streamlining of procedures has opened the possibility of requesting financing for specific and urgent needs. For example, it is common to resort to them to face fines or unexpected bills.
But these credits not only serve to get out of the pothole when a negative surprise appears. Since they are not finalists, you can request them to pay you a plane ticket for the next holidays or as an advance if you see an essential offer in your favorite store.
Another frequent use of this type of credit solutions is the grouping of credits. If you have debts to pay and are going to start accruing late interest, you can group them by applying for one of these loans, provided you do so with caution.
In short, the procedure to apply for a credit through digital operators is very simple. We detail it below so you know exactly how to request a loan online.
1. Law of supply and demand
First, you must select the entity with which you wish to arrange your loan. For this, it is convenient that you compare the offers of several lenders. And this is because digitization has also led to an increase in competition, which improves the conditions offered to consumers.
When comparing these offers, we recommend that you use the simulators that most entities put at your disposal. Providing very basic data (usually the requested capital and the repayment period) you will know how much your loan will cost you.
The most important conditions in this type of operation include:
- Associated costs. Do not just look at the TIN, because some companies will ask for commissions, fees and other extra costs. In any case, the transparency legislation has made information about these additional expenses very accessible, so that the mere cautious examination of your lender’s website should offer you all the necessary information.
- Return form. Since the most exorbitant cost is usually interest on late payments, it is important that you analyze the repayment conditions of your lender. There will usually be options that will make payment terms more flexible and can be very interesting.
- Time and manner of delivery of capital. If your need for liquidity is urgent, you should make sure that the lender puts the money at your disposal immediately. Currently, confirmation periods of a few minutes are used. In addition, in some cases you can have the credit in about a quarter of an hour.
2. Credit application
Once you have chosen the option that best suits your needs, you will have to fill out the application form. The data requested, usually, are:
- Name, surnames and ID.
- Phone number and email address.
- Bank account in which to make the deposit.
Some entities will ask you to provide some proof of income. For example, a payroll or proof of income of a pension. In any case, you can send it through the form itself or to the email address enabled for that purpose.
The entity will confirm the granting of the credit practically in the act. If for any reason you deny it, we encourage you to try your luck with another company.
3. Obtaining capital
As we say, it is important that you check the term in which the lender will make the capital available to you. If you have an account opened in any of the entities with which you work regularly, you could have this within the same day. Otherwise you will not have to wait more than a week.
4. Loan repayment
You must be scrupulous in the return of the capital, unless you have opted for a company with flexible conditions. In this case, you can always resort to an early amortization or an extension, depending on your situation.
5. New credits
Most companies have loyalty programs. Thanks to them you can request new credits in better conditions. For example, some will reduce the APR or applicable fees, while others will allow you to access higher credit volumes.
Are the quick credit comparators worth it?
As you can see, the most difficult thing when applying for these quick credits without papers is to opt for the most advantageous lender. So, without a doubt, it is worth consulting the services of a comparator. In Astro Finance we have tools and information that will allow you to request your credit comfortably, with the best conditions and almost instantaneously.