Online Payday Loan: How It Works and How to Apply It Through the Web

Among the many web services offered by the banks – for example, we think of the home-banking service, that of customer support via chat or the one to activate an online current account – Payday loan also appears online.

In most cases, it is online banks that provide offers for Payday loan online, but there are also traditional credit institutions (those with physical locations in the area) that offer Payday loan online without going to the branch.

Payday loan online or traditional Payday loan: what is the difference?

Payday loan online or traditional Payday loan: what is the difference?

The access requirements and the operation of online loans are rather similar to those of personal Payday loan and Payday loan finalized which can be requested at the branch. To make the difference between the two credit solutions is the process of activation and management of the loan:

  • Payday loan online can be requested directly from the bank’s web portal. All the documents for opening and managing the loan are sent and received by e-mail and in many cases the loan subscription contract can be signed with a digital signature ;
  • Traditional Payday loans can be requested at a physical branch of the bank and are scheduled to meet with a consultant. To obtain the loan, the physical presence of the contract holder is required.

Why should a loan be made online?

Why should a loan be made online?

1. Payday loan online is reliable

Often when it comes to evaluating the convenience of a financial service provided via the web, it is easy to ask the following question: is the online loan safe?

In this regard, it is good to know that the technological innovation of web banking services means that the procedures for obtaining an online loan are done in total safety. Therefore, Payday loan online is reliable. This does not detract from the fact that verifying whether the bank is authorized to provide Payday loan online is an operation that must always be performed, before sending any request for financing via the web.

2. Online loan amortization: more advantageous interest rates

Among the main advantages of web-based financing is that online Payday loans have lower interest rates than traditional Payday loans. This is possible because a credit institution operating via the web has to incur lower costs than a credit institution with numerous offices, ATMs and staff located in the area. Lowering operating costs therefore allows online banks to offer their customers Payday loan cheaper.

3. The Payday loan online are fast

Precisely because the entire loan disbursement process – from the request to obtaining the loan – takes place entirely through the web portal of the credit institution and via e-mail, the Payday loan online are quick to obtain, obviously always subject to verification of the requirements of the applicant’s access to funding. In some circumstances, the fast online Payday loans can also be disbursed up to 24/48 after sending the loan request and verifying the income status of the applicant.

4. Payday loan online quotes comparison

Another advantage of web-based financing is the convenience of sending the Payday loan quote request online without having to make an appointment in the branch first. In just a few clicks it is possible to compare Payday loan online, for example through an online comparison portal like SuperMoney.

How to calculate the rate of a loan online?

How to calculate the rate of a loan online?

How to apply for a loan online through SuperMoney

Once you have accessed the Payday loan section of the SuperMoney web portal, to find the financing that is most in line with your needs, you need to fill out the free online form. Just enter the desired loan amount, the purpose of the loan (eg personal Payday loan, Payday loan for liquidity, Payday loan car, etc.), the duration of the loan (from 2 to 10 years) and some personal data of the applicant (name and surname, date of birth, e-mail address and mobile phone number) to view the list of the most convenient online loans of the moment. By clicking on the Request feasibility button you will receive a free telephone consultation in view of choosing the best offers from Payday loan online.

How do you make a loan online at the bank?

If, on the other hand, you prefer to request online financing through the bank’s website, you must complete the loan application form online. Here are also the documents requested when evaluating the online loan application :

  • photocopy of valid ID
  • tax identification number of the applicant
  • residence address of the future holder of the loan
  • income documentation : last two payroll for employees, last two pay slips for pensioners or the last tax return for freelancers.

Once the request has been sent, it will be possible to monitor the progress of the loan request on the bank’s website. In the event of a positive outcome, a copy of the contract will be sent via e-mail, which will need to be signed – with a digital signature in the case of an online loan with digital signature – and sent back to the finance company in the manner specified.

Payday loan online also for bad payers?

Payday loan online also for bad payers?

The Payday loans online are cheaper but not easier to obtain. As with other consumer credit solutions, even to obtain an online loan it is always necessary to provide the bank with income guarantees. As a result, it is never possible to apply for a loan online without a pay slip and a guarantor.

Sometimes it is thought, wrongly, that online financing is easier to obtain than traditional ones. Unfortunately, this is not the case, which is why bad payers generally cannot get a loan online. In order for the bank to accept the request, it is in fact necessary to have a good credit history behind you and to have always been in order with the payment of the installments of the previous Payday loan.

Payday loan online with sale of the fifth

Payday loan online with sale of the fifth

Bad payers with a permanent employment contract may still be able to apply for a loan with a salary transfer salary, which can be requested online or at the bank branch

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