An online loan on a card is called a loan from a bank or from a microfinance organization received via the Internet. With the help of the mentioned application, a loan can be quickly obtained.
Differences between an online loan and a conventional lending method
Main differences:
Low probability of failure. Money will be given even to a person with a not very good credit history and a weak financial situation.
Greater selection of offers. The loan seeker is not looking for a lender, but the lender is looking for him.
You can get it without leaving your apartment or place of work, as long as you have free access to the Internet.
Positive attitude towards the borrower. A bank employee looks at the client as a possible non-payer, and he must prove the opposite. When receiving a microcredit, the lender trusts the borrower, proceeds from the fact that he is an honest person and will pay.
Ease and ease of obtaining. When applying for a conventional loan, you have to confirm your solvency with a mass of documents, answer not very pleasant questions to a bank employee, etc. There is nothing like this with an online loan.
Short repayment period. A loan with interest must be repaid months in advance.
The rate is higher than with a regular loan. Given that the money is taken for a short period, you will not have to pay very much to the amount taken.
Limit on the upper limit of the loan. More than 100,000 rubles with online lending is unlikely to be given.
Speed. The amount is most often transferred within a day. Approval / disapproval of a conventional loan has to wait for several months, or even more.
Who needs a microloan? In principle, everyone, but most often they take it:
Ordinary, not rich people for a week or two, before salary. Asking friends is shameful, humiliating, but the bank won't let you. In this case, an online credit card is the best solution. If you pay on time, no one will ever know.
Those who urgently, within the next few days, need funds. Looking for them elsewhere, selling something, there is not enough time or energy. A couple of months will allow you to solve the problems that have arisen, to collect the necessary amount of money to repay the loan.
Those who want to improve their credit history. He took a small amount several times, repaid it on time, and the hitches with past debts are no longer so conspicuous. Then you can apply for a more serious loan from the bank.
Who can get an online loan?
A citizen with a passport between the ages of 21 and 65 who has a bank card or an account in any bank.
How quickly is a loan application processed?
In most cases, a decision on an online loan is made within 10 minutes.
Where can I pay off a loan online?
You can make a loan payment at any bank branch, as well as at self-service payment terminals.
Loan terms:
Minimum loan period: 66 days
Maximum loan period: 344 days
Minimum loan rate: 0.1% per day
Maximum loan rate: 1% per day
Maximum annual interest rate (APR): 365%
Late payment penalty: 0.4%per day
Other commissions or fees: none
Example of interest rate calculation:
Loan amount and term: 12000 ₽ for 179 days
Commission for using the loan: 0.7% per day (84 ₽/day)
Total commission amount: 15036 ₽
The amount of the monthly payment will be: 4506 ₽
The total amount to be returned, taking into account the loan amount: 27036 ₽
Calculation formula 12000 ₽ + ( 12000 ₽ * rate 0.7% per day * 179 days ) = 27036 ₽
TIC (full cost of the loan) as a percentage is 125% per annum.
Liability of the borrower for violation of the terms of the loan agreement:
In case of dishonest performance of obligations by the client, the company may start the process of debt collection, including by transferring these rights to third parties.
Violation of conditions by the borrower:
In case of default by the borrower of the term of payment of the loan and / or failure to fulfill its obligations under the agreement, the interest rate on the loan is set at 0.4% per day.