With all the technological evolution and digitalization of many processes, nowadays financial institutions are also moving towards the digital universe. Did you know you can now apply for a 100% loan online without leaving the couch? Get to know which institutions own this product.
Meet the case of Carolita, an independent worker
Carolita, a 33-year-old, studied Fashion Design, but had a long time between precarious work and unpaid internships.
About three years ago, she decided to combine her academic knowledge with her personal interests – fashion, make-up and fitness – to embark on the digital world and become an independent worker.
She is currently an influencer, sharing content related to these themes through various social networks – Instagram, Facebook and YouTube – and participating in events sponsored by brands in these branches. It is through sponsorship that you earn income to support the normal expenses of a girl your age.
However, you now feel the need to invest in your career. In addition to needing a higher quality camcorder than you currently own, you also want to take a Social Network Management course to create even more relevant content and reach more.
Since the camcorder is priced at $ 700 and the desired course costs $ 2,300, the total amount to be funded is $ 3,000.
100% Online Loan: What is the Market Offer?
So Carolita did market research to find a loan 100% online and without having to change banks: convenient and quick to apply, no need to go to an agency and no paper documents to the financial institution – It’s all done over the Internet.
Currently, the only financial institutions that assume to offer a 100% online loan are Puzzle and Credit, allowing consumers to borrow without having to travel or submit paper documentation.
Carolita then decided to compare the offers of these entities. However, 7-Oney and United Savers Bank were not considered because the minimum amount of funding required is, respectively, 4 thousand dollars and 5 thousand dollars.
Personal credit from 3,000 dollars to 18 months
Carolita opted for financing Puzzle, not because it is the cheapest, but for the convenience of not having to go anywhere to get the desired amount. In addition, another advantage of this 100% online loan is that, even if you are a self-employed woman, you can apply for and get your credit approved.
The young woman will then pay a monthly installment of 183.75 dollars, which will not have the greatest impact on her monthly budget and will not weigh heavily on her effort rate, which is thus at 15.3%.
Although Carolita has a preference for non-customer institutions, the truth is that many banks offer a 100% online loan to those who are already customers. In this case, the process becomes even simpler, as no documentation is required – for example, Sanbuwan or Millenial Savers Bank.
If, like this young influencer, you need funding, compare the market and find the 100% online loan that best suits your needs. Like Carolita, you should not only look at MTIC and the monthly installment to pay, but also understand what your effort rate will be and understand the benefits of one credit over another.