Fast loans are a way to get immediate money through a much simpler process than any application for financing traditional entities. Generally, they have a series of common characteristics such as online contracting, response periods between 15 minutes and up to 48 hours and other attributes that we will tell you later.
The amount of financing
The amount of fast loans moves between 50 and 1,000 €, if they are small loans or microloans, and can reach up to 5,000 or 6,000 if it is a quick loan. On the other hand, the return periods vary from six days to three years.
Although banks have the conditions to grant these loans, in private entities they are much easier to obtain, since you save all the traditional bank bureaucracy and their processes are automated.
When requesting a certain amount, it is not necessary that you contribute too much documentation to receive a positive response. In most cases, it is not even required that the application go through a feasibility study, as is usually done in traditional banks. What you will normally be asked for is the DNI, proof of a regular income and, sometimes, a receipt or an extract from the bank.
Once you have submitted the documentation that has been required, it is expected that you receive the money immediately. However, there are times when they could be delayed up to 48 hours depending on the bank in which you have the destination account.
What you must meet to apply for quick loans
The requirements necessary to get a quick loan are usually less demanding than those that need to be met to access other types of traditional financing.
If you want your application to be studied and be a successful candidate, we tell you below the few conditions that you will have to respect.
1. Have a regular income
Normally, it is not necessary for that income to come from a payroll. It is enough that you have a monthly payment that will allow you to face the loan installments. For example, the unemployment benefit, a scholarship or a pension.
2. Be of legal age and have residence in Spain
These requirements are demonstrated by the presentation of the DNI. If you want to contract fast loans you must be over 18 years old and reside in Spain, even if you are a foreigner. However, sometimes lenders provide a section that you must take into account, if you are a foreigner, for tax reasons.
3. The DNI must be in force
As we have said, you need to present your ID to request the loan. In this way, you show, in addition to being of legal age and your residence, that the identity you say you have is yours and that you are the owner of the account. With the DNI identity theft is avoided, so it must be in force for your application to be approved.
4. Provide a mobile and an e-mail
In turn, you will have to give a number and an email to be able to contact you. Normally, you will know if your quick loan has been approved or not through mobile. In addition, all relevant documentation will be sent to the email.
5. Be the holder of a bank account
In it you will be paid the amount of your loan and you will be charged on the day of expiration.
In short, from Astro Finance we have shown you that fast online loans are an easy way to get immediate money. With just meet some basic requirements, you can get your money online , safely and without cumbersome bureaucratic procedures.