Spaniards are used to paying interest on any personal loan since this has been the usual practice of financial institutions since this business model was created. However, currently online credit companies offer a free financial product that can get you out of trouble when you need it most without having to pay anything: free loans.
Requesting a free loan online is much easier than it seems and you only need to be of legal age and have a bank account. In the first place, you can use a loan simulator to find out which are the online loan companies in Spain that offer this financial product. Once you select the one that best meets your needs, enter your personal data and wait for a response that usually arrives in less than 24 hours.
If you have the appropriate profile, they will ask you to send certain documents (such as your ID, passport and last bank statement) that verify your identity and solvency. You will send this documentation online without having to go to any bank and if they approve your request you will have the cash quickly, having 30 days as a repayment period to pay without interest and avoid any type of penalty.
Remember that the amount of free online credits does not usually exceed 300 euros and that they are only available to new clients so that they better know the quality of the service provider and in the future they can request loans for higher amounts by improving their financial risk profile .
No, this is not a scam. The online mini-loans that we are talking about can also be requested without endorsement and even being in a file of defaulters such as ASNEF or RAI. All you have to do is show that you have enough monthly income (such as a pension) to meet your quota. Keep in mind that if your inclusion in a delinquent file was due to an unpaid debt of more than 2,000 euros or due to a credit card from a bank, it will be more complicated for you to be granted your loan online.
Free loans offer benefits both to the company that offers the mini-credit, and to the person who receives it:
Because there is no interest to pay and they do not normally include opening commissions or management expenses; although the latter must be verified with the selected online credit company.
It usually varies between 50 and 300 euros, but this amount can be increased to 600 euros or more depending on the individual policy of each company.
As long as you can demonstrate monthly income, they will take your case into account and evaluate it properly to offer you the financial product that best suits your personal situation.
It depends on the signed contract, but if possible you will have to pay the agreed commissions during this eventuality.
As in this situation the financial history of the applicant is very short, two scenarios can occur: that access to this financial product is completely prevented; or that its amount is reduced to 200 or 100 euros.
It is very difficult for this to happen since the purpose of this online mini-credit is to publicize a specific service and product, not to look for a personal loan that allows you to pay less interest and / or commissions.
No, this does not happen with free online loans.
No, because the amount they offer is very small for this purpose. Its purpose is to solve small economic emergencies.
If all the required requirements are met, the money can be available in less than 24 hours.
Jerome P Allison ( LinkedIn )