On many occasions, we need to contract credits to overcome a situation in which our economy is damaged or to carry out a specific project. However, our entity may offer us conditions that do not convince us, that’s why we show you the best loans without changing banks.
What do we mean by loans without changing banks?
When we talk about loans without changing banks, we refer to all credit products that do not require us to be clients of an entity in order to be able to hire them, that is, they do not ask us to join or commit to the entity in order to enjoy the financing we want to obtain.
In the past, it was very difficult to find loans without changing banks. This was due, in large part, to the monopolization of the entities, since there was no other option to obtain financing if it was not with them. To this is added the social culture of belonging to a single bank, which we called the lifelong one, as it generated confidence and security for its customers.
However, over the years many more banks, private equity lenders, alternative financing platforms, etc. emerged. and because of this, the traditional entities began to market products without requiring permanence or exclusivity to their customers.
Types of loans without changing bank
As we have said, in the current market many options have emerged to get financing and then we show some of the loans we can get without having to change banks:
Mini credits: are loans with which we can get small amounts in a matter of minutes, with a fully digitized application process, with a return period that rarely exceeds 30 days and with much more flexible requirements than those of banking entities conventional To contract mini loans it will not be necessary to change banks, now, in most cases if we are new clients of the company, we will not be able to access the maximum amounts they offer. We must also highlight that more and more lenders are marketing these products and in order to distance themselves from the rest, many of them have decided to launch offers with which we can obtain the capital for free, with discounts on fees, repayment terms up to 3 months even if we are registered in a file of defaults, we do not have a payroll, etc.
Quick credits: they are very similar to mini-credits since we can get the money in a matter of minutes or hours, with much more flexible conditions and without having to be clients previously. However, they differ from the previous ones in the import and return periods, since both are usually considerably larger.
Personal loans: they are the credits to the consumption that all we know, although at the moment we can also request and manage them online. With these products, we can get amounts of money around 60,000 euros, with repayment terms of up to 10 years and with interest ranging between 6 and 13% APR. When looking for these loans and opt for one or the other, it is important that we look at the commissions they may have and if we have to hire a linked product to enjoy the capital, as they would increase the price considerably.
P2P: these are loans between individuals that we can get through virtual platforms. They tend to have lower interest rates than conventional personal loans and will be fixed based on our risk profile.
Loans with mortgage guarantee: these are products with which we can obtain very high amounts of money, but we must bear in mind that in order to obtain them it will be necessary that we put a home in property as a guarantee. Thus, if we fall into a default, we can lose our house, so it is not advisable to request them unless the purpose for which we want the money really requires it and we are totally sure of being able to face all the conditions of the contract.
Depending on the purpose we want to give the money and our profile as applicants, we will be more appropriate to opt for one product or another, although in all cases we must ensure we can deal with the debt without problems, before hiring them.
Advantages of the loans without changing bank
When looking for bad credit loans guaranted approval, we will always try to find the one that best suits our needs, that is, the one that allows us to obtain the exact money that we need, in the term that is most convenient to reimburse it and with the lowest possible cost or, even, free- I guarantee it!
The main pro that these products have is that they will not ask us to give up the privileges that we have in our bank because they are customers. In this way, we can take advantage of the advantages of a loan without changing banks and those provided by our usual entity as clients.
bad credit loans guaranted approval credits without changing bank
The process of contracting the loans without changing bank will vary depending on the type of loan we have chosen since it will not be the same if we opt for a mini-loan or if we do it for a loan with a mortgage guarantee. However, there are certain guidelines that can be applied to all cases at the level of guidance and in the hypothetical that we make the online application:
Choose the amount and the reimbursement period: once we have chosen the financing product that we want to hire, the first thing that we will have to do is choose the amount that we will need and the term in which we want to return it.
Fill in the application form and attach the relevant documents: once the loan conditions have been chosen without changing the bank, it will be necessary to fill in the form requested by the entity with our data and attach the necessary documents to verify the form and the rest of information they need.
Accept the contract and receive the capital: if the entity or lenders approves our request, the last thing that we will have to do is give our approval to the contract that they send us (provided that we agree with all the clauses) and wait to receive the capital in our bank account
When making the request, it is important that we make sure that all the documentation that we send is up to date and is perfectly legible. Otherwise, they could pause or even cancel the request and we would not get the loan without changing banks.