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Our advice before you sign up for an online loan

The Internet has revolutionized banking practices. You no longer need to go to a physical agency for a loan, it is possible to get a loan online. But what are the peculiarities of this innovation? What criteria should you consider in your search? This little guide tells you it all.

What is online credit?

The online loan is similar to the traditional loan taken at the bank. It meets the same rules regarding the obligation to pay and withdrawal periods. The only difference is that You don’t need to move to subscribe to it.

From your computer, tablet, smartphone or any other device connected to the Internet, you can perform all the official procedures on Prêt-Équitable and receive money directly into your bank account.

Online credit can take several forms:

  • Personal Credit
  • Unrestricted Personal Loan
  • Mortgage ;
  • credit;
  • interpersonal loan, etc.

How do you choose credit online?

To choose credit online, it is important to follow these steps:

Clearly define your financing project

Before you start looking for credit online, it is important that you do so Clearly define the project You want financing.

In fact, for an allotted personal loan or mortgage, you must provide the supporting documents to the borrower. But for unallocated personal credit or revolving credit, you won’t need it.

In addition, the nature of your project and the type of credit you are seeking can have an impact on the procedure to be followed.

Simulate online

After selecting your project, run an online credit simulation before applying to a credit institution.

This lets you know:

In addition, the simulator allows you to Test several scenarios before you decide.

For example, you can test different repayment terms to assess the impact on your budget and the overall cost of credit.

In addition, most simulators include comparisons that allow you to find offers that best fit your profile. Feel free to use it.

Keep in mind the quality of customer service

The procedure for signing up for a loan online is very simple and above all fast. You must fill out a form with your information and you will receive an answer via email within 72 hours at the latest.

If the answer is positive, then the funds will be prepared in your account as soon as possible.

But in some banks, communication can be difficult when you have a later request such as renegotiation of credit or early repayment.

This is why it is necessary Consider the quality of customer service before choosing credit online. The service must be accessible by e-mail or telephone and response times must be reasonable.

To get an idea, go to discussion forums and read reviews about the quality of customer service before you commit.

Read also: 3 tips for buying your first car

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