Fast loans: guide to get a loan in 24 hours
These are lines of credit that give access to liquidity in a very short time. Products designed for those who have to face unexpected or sudden expenses.
Granted by both traditional and online lenders, fast loans usually involve relatively low amounts (no more than $ 5,000) and do not require the presentation of many guarantees. Characteristics that underlie their success.
Disbursement times may vary from bank to bank, but in principle the loan is granted in 24- 48 hours.
How to apply for a quick loan
The procedure for applying for a fast loan follows that of a traditional personal loan. When applying, the applicant must present the personal and income documents.
Since these are loans that involve rather low sums, generally those who can claim a demonstrable income are not required any further guarantees. Those who do not have a work income, however, will have to produce the documentation certifying the presence of an alternative guarantee.
The standard documents to be submitted when applying are:
- copy of a valid identity document;
- copy of the health card or tax code;
- last two pay slips received, pension slip or copy of the Single Model regarding the latest tax return.
Fast online loan
There are many online institutions that offer fast loans. The methods of disbursement and repayment do not vary with respect to the loans that can be found in the traditional market.
The main advantage of choosing online loans is given by the reduction in the time required for submitting and evaluating the application. Added to this is the possibility of transmitting documents in digital format. Sending can be done at any time, without having to submit to the typical office hours of traditional banks.
Quick loan purpose
Fast loans fall into the category of non-finalized personal loans. There are therefore no limitations regarding the use of credit: those who obtain the loan will be able to use the money granted by the bank to meet expenses of all kinds.
These products are therefore suitable for any need, from the purchase of a car to medical expenses.
Difference with other types of loan
The main difference between fast loans and other forms of loan on the market is represented by the timing of granting. Fast loans allow you to obtain liquidity within 24- 48 hours, while the time for disbursing credit is usually longer.
Another important difference concerns the maximum amount that can be financed. Fast loans in fact allow you to get a few thousand USD, while with a traditional personal loan you can get even over 20 thousand USD.
Since these are loans that are not finalized, there are no conditions to be respected regarding the use of the money granted. Therefore, when compared with targeted loans, fast personal loans are more flexible.
In fact, we remind you that by requesting a finalized loan, the debtor must use the money requested for the purchase of certain goods or services, as specified in the application. This does not happen with fast loans, which allow the beneficiary to use the amount disbursed at his / her own will.
It should also be remembered that often the targeted loans provide that the money is not paid to the applicant, but to an intermediary. Role that is generally interpreted by the operator where you want to buy a good or service. Think, for example, of auto loans, in which the money is paid directly to the dealer.
Fast personal loans instead require the bank or financial company to pay the money to the applicant. Transaction that can take place by crediting a current account or by other methods.
Fast loan delivery waiting times
Quick loans generally take one or two days to credit. Timings to be considered from the approval of the request.
When it comes to loans in 24 hours then this period is considered not from the moment the application is submitted, but from when it is approved.
To reduce the time needed to grant a loan as much as possible, it is advisable, therefore, to present the income documents as soon as possible. These are crucial for the evaluation of the loan application.
Those who do not have a demonstrable income must present the documentation certifying the presence of alternative guarantees.
How to request a quote
Fast loans do not differ from traditional personal loans as regards the request for quotes. Once the bank where you want to apply for funding is selected, it will be sufficient to go to a branch with your personal and income documents. In about 24 hours the lender will be able to provide a personalized quote.
Times get shorter when you turn to online institutes, which in some cases provide quotes within a few hours. Some banks and financial companies that operate online, then allow you to make quotes directly through your site without having to send any documents. In this case, however, these are purely indicative estimates.
Fast loan insurance
Lenders allow customers to associate insurance policy financing. Hedges which are intended to protect the beneficiary in the event of difficulty in repaying the amortization installments. At the time of signing the loan, it is therefore possible to take out a credit guarantee policy.
Generally, the policies relating to loans cover both in case of job loss, that of injury or death.
Fast loans without guarantees
When the amount requested is particularly low, fast loans without guarantees can also be obtained. Unlike what one might think, this name does not indicate the absence of guarantees, but the lack of guarantees in addition to the applicant’s income.
If the bank deems the income sufficient to guarantee the regular repayment of the loan, it is not necessary to present further guarantees, such as the guarantee of a third party.
Fast small loans today represent one of the loan categories most requested by customers who need to obtain small sums of money useful to face unexpected expenses.
Loans with an amount limited from a minimum of 1,000 USD to a maximum of 5,000,000 USD which are disbursed much more quickly by banks and credit institutions, aimed at satisfying small needs of the applicant.
The small fast loans can be disbursed upon presentation of the guarantees required by the banks such as the pension slip, CUD model or the paycheck of the applicant but can often be obtained even without the need for any guarantee.
Small fast loans granted by banks have interest rates that can be contained between 8 and 10% against certified guarantees to the bank, while the rates applied in the case of requests for small loans without any guarantee are almost at the threshold limits established by law.
Particularly high interest rates as the greater the risk of insolvency on the part of the customer for the banks, despite the particularly high rates, however, this type of financing represents the only way of access to credit for many customers.
Small fast loans compared to other types of financing are more flexible as banks tend to disburse the loan although there are no due guarantees, but this does not mean that alternative guarantees are not necessary to obtain the loan.
Among the main types of small fast loans granted by banks in the presence of alternative guarantees we find the loans, the loans for housewives or the small fast loans for protested or bad payers.
Fast loans with bills
Loans changed into vogue again are loans that are also granted to those who cannot rely on the guarantee of a guarantor, a repayment that can be paid through monthly bills.
The bill of exchange is an executive title, or in the event that there is an insolvency in the payment of even one installment, the bank will be authorized to proceed with the attachment of assets equal to the value of the installment not paid regularly.
Housewives can also apply for small quick loans, but for amounts in excess of ten thousand USD, the presence of a guarantor who undertakes to repay the installments will be required if an insolvency of the applicant arises.
Another possibility for obtaining the small loan for housewives is to take out a mortgage on the property, a method that allows you to quickly obtain the loan requested, the size of which can be calculated based on the value of the mortgaged properties.
Quick loans to protest
All the small fast loans for protests can be requested either through the presence of a guarantor who can undertake to pay the installments in the event of the applicant’s insolvency or through the transfer of a fifth of the salary or pension received, a guarantee useful for obtaining financing.
Quick loan without paycheck
Some lenders also grant fast personal loans even to those who don’t have a stable job. In the absence of a constant paycheck or other demonstrable fixed income, the applicant must demonstrate the presence of other resources with which to guarantee the repayment of the installments.
Therefore, documents relating to the presence of alternative guarantees to a traditional employment contract must be produced when applying.
Atypical and precarious workers can get loans without paychecks. Subjects who have a variable income, but still sufficient to guarantee the repayment of the loan requested.
Best financial for fast loan
Choosing a reputable lender is essential when planning to take out a loan. Among the banks and financial institutions that provide personal loans in a short time we find Astro Finance, Best Bank and Cream bank. The latter two operators allow you to request small amounts directly from your smartphone, with credit in a very short time.
Finally, remember that fast loans can also be obtained by turning to small financial companies. Realities generally active at the local level, but which in some cases also operate online.