Today, an application for a loan can be sent directly from home, without leaving your computer. To do this, you just need to connect to the bank's virtual office on the Internet. Most of all loans issued by banks are issued online. What explains the popularity of this service, and what nuances should be taken into account when making an application for a loan remotely, we will describe below.
The ability to apply for a consumer loan remotely through the bank's virtual office appeared quite recently. This service is becoming more and more popular. According to statistics, in some lending organizations, a good half of loans are issued by clients online.
For banks, this system is convenient because it allows you to save money on opening branches in different cities and on the work of loan officers who accept applications. Also, remote access makes it possible to expand the client base, ensuring maximum bank accessibility even for the most distant users. Clients get the opportunity to place an application without leaving their workplace in the office or at home, which means they save time on going to the bank. People also get the opportunity to choose a more convenient loan product by gaining access to a wider range of loan offers presented in a virtual environment. Nothing prevents you from applying for a loan at several banks at once.
As a rule, the application form presented on the bank's website is simple and understandable even for a non-specialist in banking. There are even online application forms in which it is enough to indicate your full name, contact phone number, the required amount and your income. The processing time for online applications ranges from several hours to several days.
When filling out an application, albeit a virtual one, it is worth paying due attention to the conditions for granting a loan. Carefully study the loan agreement attached to the application: pay attention to the interest rate, loan term, penalties in case of delay or non-payment.
Today, an interest rate of 17-20% is considered good. Sometimes, to attract customers, banks lower the interest rate for those who apply for a loan via the Internet. This is done to attract more customers.
However, you should not assume that getting a loan online is easier than at a bank branch. The requirements for the borrower here remain the same: a sufficient level of income and a good credit history. If you do not pass these criteria, then the refusal of a loan from the bank is quite possible.
After receiving a positive response from the bank, you will need to come to the branch and sign a loan agreement and other necessary papers, as well as receive the actual funds. Sometimes banks offer the delivery of a package of documents by courier, and the money is transferred to your account, existing or new.
