The difference between a non-bank loan and an Internet loan

Recently, the internet has been swarming with offers of short-term loans offered by dozens, maybe hundreds of different companies. Sometimes these are loans on-line, sometimes in the form of SMS or telephone. What is the difference between them and what do you need to make a short-term loan?

Short-term loan

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The first possibility of obtaining a short-term loan is, of course, a traditional visit to a branch, whether a bank or a non-banking company. The advantage of this option is that it reduces the possibility of tricking a non-existent company.

At the branch you also have the opportunity to solve everything with a company employee and ask for anything you do not understand. The disadvantage is that you have to reach the branch, which takes both time and respect operating hours. The documents required to obtain a loan vary, but for non-banking companies this is usually an identity card.

Another option today is a very popular online loan, which you can arrange nicely from the comfort of home over the Internet. Again, you will need an ID card and then just fill out the application form, send it and wait for verification.

Arrange a loan

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The disadvantage is the number of unfair companies that are on the market. Arrange a loan where they will provide you with all the necessary information, including address, telephone, terms and so on. For example, Yevgeny Bazarov, where you can find a loan calculator, and Yevgeny Bazarov will even offer you the first free loan.

Therefore, be very careful when choosing and check the provider in advance. We recommend that you do not respond to the offers of providers whose leaflets are on street light poles and other unusual locations. For the realization of the loan you will need information about you and your identity document.

Loan using an application

The third option is a loan using an application, which is always from the company whose application you have installed on your phone. If you already have a good experience with a provider while offering this option, this can be considered a priority. If you don’t have one, it’s better to compare your bids first.

A somewhat different option, which has emerged recently and includes some of the previous options, is a “cash” loan. There are not so many providers on the market, but there is still a lot to choose from.

There are more ways of paying money, but the main ones are: cash on hand to home, cash on hand at a branch, loans paid by postal order (at the post office).
We hope that our overview helped you to orientate yourself in the basic types of short-term loans and we wish you good luck in choosing!

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