Novel and attractive to the consumer. Financial institutions have no choice but to design new products because the banking market is changing and banks know it.
Among the latest offers in the financial market are pre-granted loans, loans intended for the entity’s clients that are contracted with conditions similar to those of consumer loans. Unlike the usual formula, the client does not have the need to request and negotiate the loan but can have the credit by accepting the product offered by his bank.
Fast and without negotiation
The reasons that more and more entities offer pre-granted loans are multiple, but it highlights the need for many families to resort to a loan due to the increase in their mortgage payment (the Euribor has increased steadily in recent months, and They now pay an average of 100 dollars more per month than they used to spend before housing), to which we must add the price increase of many essential items, and inflation through the clouds.
The simplicity with which this type of service is contracted and the apparent facilities proposed by the banks to be able to amortize them are a decoy difficult to ignore for many domestic economies that are going through a bad time.
But when resorting to this remedy, it is advisable to be prudent and take into account all the variables, such as the exact amount of money requested, the required repayment term, the interest rate, and the opening, amortization, and commissions. cancellation charged by the bank, and which may make the product more expensive.
It should be borne in mind, however, that the pre-granted loans, although immediate, have nothing to do with the so-called fast loans that promise money in 24 or 48 hours, for amounts that usually reach up to 6,000 dollars, and in some cases even higher than this amount.
The “trick” of these credits is their very high interest, almost always higher than 20%, which in many cases triples those of the usual consumer loans. Another possibility is the unification of debts. If you have a home owned, this method allows you to unify all loans in a mortgage loan.
Interest decreases, but in the long term it ends up paying more. But the truth is that a family that is indebted “up to the neck” can find in the unification of debts the only possibility of moving forward. Both fast loans and unification are resorted to by those who are forced to discard the traditional options of obtaining financing from banks. To these possibilities of accessing a loan quickly, we must now add one more: the pre-granted credits.
With interests of around 7% and 9%
The new rules and risk measurement systems of the Basel Committee on Banking Supervision make it easier for generalized loans to be generalized, in which it is not even necessary for customers to request credit directly from the entity.
The inspirer of this type of loan is Antón Gasol, author of “The banking industry in the framework of Basel II”, who assures that the banks “will be able to choose their clients better and the financing will adapt to their risk profile, including the necessary prices, terms, and guarantees, which will allow to save time and improve efficiency.
” Even so, in the pre-granted loans, the risk profile is fundamental and banks only grant this type of credit to customers who offer low-risk profiles, and who are sure they will respond to payments. Clients that banks do not trust should continue to resort to traditional fast loans, or to the reunification of debts, as mentioned above.
Which loan suits you best?
Among the products that have gone out to the financial market, the Good Finance Instant Loan stands out a pre-granted credit modality in which acceptance and signature are made directly by the customer with the digital signature, through the electronic banking service of the cashier.
The client can choose the repayment term, the day of payment, the account of the charge of the installments, and the amount, up to a maximum of 10,000 dollars.
The interest rate is 7%. As in other entities, the list of customers to whom the product is offered is updated every month, as well as the economic conditions. The client also has a mortgage advisor-simulator on the web, which allows him to simulate all types of credit operations carried out with the entity.