Internet Loan

How and where to apply for a loan online?

If you have an urgent need for money, the easiest way to solve the issue is to apply for an online loan. This service is not available to every credit organization. But for the client, this option is the most profitable.

Which companies allow you to apply for an online loan?

Loans on the Internet can be either a loan from a bank or an MFI (microfinance organization).

However, these companies work differently. Banks have a lot of requirements for their clients, and they carefully check each application. Because of this, you won’t be able to get money quickly, even if it’s a minimum amount. In fact, a new client can only submit an application through the website, and if it is pre-approved, he or she will still have to go to the bank. Only regular customers (who have already taken out a loan here and repaid it on time) will be able to get an online loan without leaving home.

Another option to take out loans online Ukraine is through MFIs. Making a loan in this way is a common thing for such companies: they are ready to give out money through an online application to everyone (both regular and new customers).

How to take out a loan online: step-by-step instructions

Bank-ua is a large platform that brings together microfinance organizations from all over the country. These are proven institutions that make it easy and fast to get money on credit online. But before signing an online loan agreement, it is important to take a number of steps:

1. Analyze the amount of money you need and the term for which you want to take out an online loan. Depending on whether it’s money until the next paycheck or for medical services or purchases of equipment, you should understand when you will be able to repay the online loan. There is no need to browse many websites in search of the most favorable offer – you can view the offers of MFIs in a convenient format on the website.
2. After choosing a microfinance organization, you just need to click “Apply” to automatically go to the company’s page;
3. Read in detail all the terms of the agreement, additional fees, terms, and methods of loan repayment.
4. Fill out the appropriate loan application form online, providing the required personal data.
5. Receive confirmation via a message on the website, email, phone, or a call from the manager.
6. You can get a loan via the Internet by entering the details of any active bank card, by money transfer at a cash desk or terminal, or in some cases even by courier.

Advantages of an online loan from an MFI

Microfinance organizations are an option to take out a loan online quickly, without references, and often at low interest rates. Small amounts for several months can cover the necessary financial needs. MFIs have a number of differences from a banking institution. Among the main advantages of cooperation:

• you can apply for a loan online without income statements and other proof of solvency;
• You can take out a loan online around the clock. Organizations work 24 hours a day, 7 days a week, without holidays and weekends. Finances will come to the card at any time;
• focused on issuing small loans, from UAH 100 to 15-20 thousand. Excludes regular customers;
• you do not need to waste your time and adjust your schedule for a physical visit to the organization, it is completely available to apply for a loan online;
• is a fast online loan, as it takes 5 to 20 minutes to process a customer’s application;
• minimum rejection rate. MFIs do not take into account income or previous credit history.

What are the conditions for issuing Internet loans by Ukrainian MFIs?

Ukrainian MFIs are ready to issue loans to Ukrainian citizens aged 18 to 65. In some companies, the permissible age of clients may vary slightly: from 21 to 75 years. You need to apply for a loan online with a passport;

As for restrictions on the material and social status of clients, there are simply no restrictions in MFIs. Such companies are ready to issue loans online to students, the unemployed, pensioners, and the officially unemployed. At the same time, they always emphasize the mandatory repayment of the debt under the terms specified in the loan agreement.

As for the terms of the money issue:

• Amount: from 300 UAH to 10-15 thousand UAH. This is the most common range, but there are also MFIs that provide larger amounts (up to UAH 30-50 thousand) to regular customers.
• Loan repayment period: from 5 to 30 days. Some MFIs allow you to borrow money for up to 45-60 days, but only for regular customers.
• Methods of receiving money: in a branch (if the MFI has a branch), by transferring to a card, by transferring through an electronic payment system.
• As for the interest rate: for new customers, it is usually either “zero” or comes with a discount compared to the standard rate.

Fast loan on the Internet: criteria for choosing an MFI

Bank-ua offers dozens of options for microfinance organizations that provide online loan services in Ukraine. In order to choose the best option for cooperation, you should focus on the following aspects:

• the required loan amount;
• terms of use of credit funds;
• borrower’s data: age, locality;
• first or repeated application for an Internet loan.

As a rule, an increase in the loan amount becomes available when the borrower applies to the same microfinance organization again. Positive or negative experience of cooperation is taken into account.

Although promotional offers are also common in some MFIs, these include a reduced interest rate for new customers and even options to get a loan online at 0 percent.

Where can I get an online loan quickly and easily without personal presence?

MFIs require only passport data and an identification code from the client.

The application is processed very quickly – in about 5-15 minutes, and the client can receive funds immediately after approval. Both cash loans and loans to bank cards of any bank in Ukraine can be applied for remotely (via the Internet).

Application processing takes about 20-30 minutes on average. That is, the entire process – from the beginning of registration on the website to receiving a transfer to the card – takes a maximum of 1 hour, even for new customers.

You can take out a loan via the Internet in Ukraine from any locality. It doesn’t matter if it’s a big city like Kyiv, Lviv, Dnipro, or a small village. Restrictions may apply only to the temporarily occupied territories. Or the localization of a particular microfinance institution. This information is available on the organization’s website.

The easiest way to find favorable terms is through Bank-ua. This is a free microloan comparison service through which you can see a list of MFIs with their terms and conditions collected in one place.

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