The data of the last study of the Bank of Spain affirm that the criteria of granting credits have been smoothed around 5% in our country. This has been facilitated by the competition that private equity firms have exercised over traditional banking and accompanied by the greater solvency of Spanish households that seem to have left behind the 2008 crisis. With this relaxation of the concession criteria, Spain it is above the European average in terms of the ease of getting personal loans online to finance our projects.
Personal loans online are now a matter of hours
The continuous evolution of personal loans has helped to increase the speed of application and grant. The possibility of making requests online has eliminated queues in banks. In addition, quick personal loans will grant us the money very quickly in less than 48 hours.
|Cetelem Personal Loan||Between € 3,000 and € 50,000||From 5.95% TIN (6.12% APR)||
|ING Orange Loan||Between € 6,000 and € 60,000||From 5.95% TIN (6.11% APR)||
|Cofidis Project Credit||Between € 4,000 and € 15,000||From a 4.95% TIN (5.07% APR)||
In addition to speed, the option of getting a quick cash injection has also become more comfortable. With the possibility of making the request 100% online, these credits save us paperwork and inconveniences like moving to an office. Also, we can initiate the application for these loans at any time of the day, including weekends, thanks to their online platforms.
The amounts of personal loans have also become more flexible
In the Bank of Spain survey, an increase in the average of the amounts granted by the lenders is also reflected. This increase has been defined at 5%, while in the European Union this amount has remained stable. Similarly, it is expected that we can get more money in the next year, given the trend of these financial products.
The competition exerted by private equity lenders has made banks feel that pressure, says the BDE. Thus, the supply of consumer credit for families has been improved both in terms of flexibility and in the amount of money granted.
Although getting online loans are becoming easier if we still find it difficult to get a loan or we do not know which lender we should use to get an offer that best suits our profile, this free practice guide will help us solve all these doubts.