immediate loan is a financial product that can solve problems when you have a specific need, as long as you do not pose it as a solution for structural situations. The development of ICT has opened new possibilities in the financial sector. In Astro Finance, we describe the characteristics of this type of operations and the aspects that you have to take into account.
Characteristics of the immediate loan
The immediate loans are a financing alternative that serves to meet a specific and short-term expenditure. This may be due to an administrative sanction, the purchase of a household appliance, a trip or the payment of tuition fees. Therefore, it serves to solve a situation in which the opportunity cost of not paying is very high. You should know that this product has its own characteristics, which are the following:
1. Less capital granted
Immediate loans are operations in which a smaller capital is offered than a conventional loan can offer. For this reason, it is very important to emphasize that the normal thing is that they do not grant you more than 2,000 or 3,000 euros per operation. This is the main difference with respect to other operations, since the lender has a lower risk if less money is available.
2. Quick concession
If there is one aspect that differentiates these credits from other operations, it is the speed of the concession, since it usually takes a few hours to be approved and, in some cases, a few minutes. Another element that you have to take into account is that the money you have in mind in a maximum of 24-48 hours and, in this way, you will find it easier to dispose of it. Not in vain, if you have to face a timely payment and there is urgency, this is the best option there is.
3. Internet operation
The rapidity in the granting of a loan is associated with the use of new technologies that have revolutionized the financial sector. Not in vain, the appearance of fintech companies has served to improve access to credit and saves the applicant time because you can compare several options without leaving home. One of the characteristics of the immediate loans is the use of Internet for the concession, the transfers and the returns. For this reason, a condition sine qua non to raise the operation is that you have an email and mobile phone.
The interests are variable but in these operations are higher than in a conventional credit, since there are changes depending on each case and the credit rating of the applicant. Not in vain, you have to remember that this type of loans have a higher risk and the lender takes it into account when it comes to collecting it. We must also indicate that there is a policy of reducing costs in the medium term for those who are already customers and have shown that they can meet their financial obligations.
Contract an immediate loan
immediate loan is a possibility that you have to consider as long as you have a punctual operation of low amount. Experience tells us that the best thing you can do is to compare the various operators to get the best offer and pay the minimum possible. In recent years, the fast financing sector has been completely transformed and more and more people are opting for this possibility. At Astro Finance we can help you when it comes to indicating the loan that best suits your needs.