Opting for personal credit online offers many advantages, starting with being able to simply compare APR rates. Is this credit without documentary evidence always more attractive online than in conventional banking? How do you make sure you get the best deal? This article has a double objective: to identify the best personal credit, but above all to obtain a first immediate favorable opinion.
Personal credit, a loan for all projects
Personal credit is a type of loan without proof of use. The use of funds is therefore at the borrower’s discretion. This obviously does not mean that this type of loan is accessible without supporting documents.
Online personal credit has become more popular in recent years, spurred on by organizations such as Zaloan and Bankate. It must be said that these consumer credit specialists generally offer the cheapest personal credit on the market, in front of the banks. The ease of processing requests allows organizations to offer the lowest rates to everyone, without having to open a bank account or attach anything to their loan.
Online personal credit: the essentials
- Amount: $ 1,000 to $ 75,000
- Duration: 12 to 84 months
- Type of credit: without proof of use of money
- Who offers it? Organizations, banks and certain insurers
- Rate: fixed APR
The advantages of online personal credit
It is now possible to compare everything online, whether for a simple opinion or the best offer. Online personal credit allows you to compare the best APR rates. This requires the use of a credit comparator. Among the great advantages of online personal credit, we note:
- The ability to compare offers in just a few clicks without leaving your home
- The promise of fast personal credit: all the steps (simulation, response, processing times) are less time-consuming than when applying to your banker
Personal loan Bankate, Viloan, Zaloan: the main credit organizations offer very competitive online consumer credit offers. We will however see that the APR rate can vary from simple to double between two of the biggest online specialists, for the same personal credit online. Interest may d
The APR, the only indicator to compare
The APR rate of the various online personal credit offers allows us to compare them on an equal footing. The APR (annual effective annual rate) indeed includes the interest on a loan, but also any administrative costs. The best consumer credit is always the one with the lowest APR rate. The presence of the rate on a credit offer is also mandatory.
Comparison of personal credit rates
We compared the same 10,000 USD loan over 48 months through a personal loan simulation, in order to better measure the cost differences caused by a difference in APR rate. The cheapest online credit from our comparator was compared to that of two large banks in addition to a specialist insurer and that of Monabanq, which here represents online banks.
It is not enough to click on the first link to obtain the cheapest personal credit, as evidenced by our comparison of rates. The total cost of the best online personal credit from our comparator is almost half the cost of the simulators of a traditional bank. The big gap does not stop with the comparison of online organizations against banks.
Our differences simulations show that the difference in rates is sometimes very large between two offers of personal credit online. The example below shows for example that the personal loan Casino Casino $ 8000 over 36 months costs almost 60% more expensive ($ 749.44 against $ 469.00 or $ 280.44 more) than the best organization at the time of the simulation.
Personal credit from banks, a complementary product
Our online personal credit comparator puts only credit agencies on the balance, excluding conventional or online banks from the discussion. All our personal loan simulations indeed indicate that the banks are lagging behind on the question of credit without proof. Most offer a personal loan solution only to supplement their offer. Banks are in no way specialized in consumer credit. They therefore reserve their offers for their most stable and interesting customers, with a view to developing loyalty.
Banks are generally only able to offer a personal credit solution to their best customers. It is therefore not interesting to join a bank with the aim of taking advantage of a good rate, unless you immediately justify preferential conditions (significant savings). The banks actually control the risk linked to the good repayment of consumer credit solutions, unlike organizations, rather poorly.
How to Apply for Personal Credit Online?
Our online personal credit comparator allows you to apply for credit quickly at the best rate. Above all, the tool guarantees to obtain an immediate response in principle. No need to see the best APR rate displayed without having the slightest idea of its ability to obtain a deal. Here are the steps required to complete an online credit application with immediate response.
- Fill in “personal loan”, “loan for all projects” or “need for money” on our form, the amount of the request ($ 500 to $ 30,000) and a repayment period corresponding to its repayment capacity.
- Complete the four simple steps of the questionnaire (identity, address, location, budget), before confirming.
- The list of the three organizations offering the best APR rate is displayed. The best is automatically questioned, and provides an immediate response in principle. In the event of a positive response (acceptability> 80%), the confirmation of the offer is sent by email within 24 hours.
- When the best organization gives a negative response (acceptability <5%), it is possible to instantly send the request to the second, as well as to the third. Two more chances to get a favorable opinion.
- Once the online personal credit agreement has been obtained, it can serve as a basis for hoping to get better from your bank.
Good to know: it is possible to retract without reason for 14 days from counting. A withdrawal form is most of the time associated with the credit agreement. If necessary, the government site provides a model document to retract.