Fast payday loans are limited to small amounts of money. In general, not as many requirements are requested as in those of banks and are offered much more urgently, as well as through an online procedure. It is, in short, a way of financing booming because of the lack of credit of certain financial institutions.
Why apply for a quick payday loan?
One of the biggest advantages of these loans is the speed. It is normal to sometimes need some credit and with the online application you can get money in a few hours, and even minutes. Fast payday loans do not usually require a guarantee, which means that the payment terms are short and the amounts of money are limited.
Even so, they can save you from various economic hardships such as a tuition or school books, an unforeseen vehicle, or a sudden breakdown. Apart from not demanding a guarantee, you do not need payrolls either. You just have to prove to have a regular source of income such as a scholarship, unemployment benefit or a pension.
Requirements to apply for a quick loan
The requirements vary according to the amount you will request and how you will repay your loan. If you do not exceed 300 euros, you almost do not have to submit any document except for your ID and checking a regular income. To request a payday loan, you will need to be of legal age, although sometimes you will even be required to be twenty-one years old.
Also, you must have an account in a bank, where the money will be deposited, or in a savings bank. In turn, it is essential to have a mobile number that is active and with an email. As we have said, the DNI is essential because it is your official identification, but also because it guarantees that you reside legally in Spain.
Also, with regard to the document that can prove that you have monthly income, this accreditation can be very varied. Although a payroll always proves it, it is not what is required. In addition to the scholarship, pension or unemployment, you will be worth an unemployment insurance or proof that you are self-employed.
With respect to the delinquency lists, as is the Financial Credit Institutions file, the positions are varied. Normally, the fact of not being in any of them is not required as a requirement. However, when the quantities are very high, it may be required. For this, each financial institution has total freedom.
Amounts you can ask for and how to process them
Fast loans are usually only a few hundred euros. With these amounts, in most cases we can solve many unforeseen problems of the home: 300, 500 or even 900 euros in many cases. There are times when processing does not require interest, but above all this happens when it is the first time, as a method of attracting customers.
This process is completely online , so it is much easier, especially if you add the fact that they can be requested with Financial Credit Institutions and without endorsement. Taking into account that there are too many people living in economic precariousness, fast and payday loans are a very useful service that helps many families. From people who do not have payroll to those who, for any other circumstance, do not have access to credit.
In short, when we use the financial services of this type of creditor, we can get up to 1000 euros just by waiting a few minutes. In this way, fast payday loans have become a solution to deal with any type of unexpected emergency.