Borrow money that allows you to get money fast. Fast cash loans usually have a shorter term than traditional bank loans. You can usually get these loans within a day, and even within minutes in some cases – compared to traditional loans, which can take several days to be processed.
Use and borrow money during the day in 3 easy steps
- Submit an application.
When choosing the company that seems to be the most reliable, you should go to their website. There you have to choose loan amount and repayment terms. So, the following is the registration step, where you have to enter personal data, which is usually name, mobile number etc. and also do an Identification with your bank account.
- Wait for instant loan decision
When submitting the application, the lender will provide an immediate lending decision. The lender makes their decisions based on your credit history. Each lender has its own credit scoring system, so if you do not get positive decision from one lender, you can try to borrow from another lender and loan money.
- Get money in minutes
If approved, the loan money will be sent to your bank account and the money will be credited to your bank account within the next 10 to 20 minutes.
What are the requirements for borrowing money online?
Lenders have set the minimum criteria for their loan money. This usually includes the following requirements:
- Must be a Norwegian citizen, or at least be a resident;
- Must be aged 18 years and older;
- Must have stable, regular and adequate income;
- Must have an email and phone number
- Must have an active account in one of the Norwegian banks;
- Clear credit history;
However, even if you meet the system requirements for a loan lender may request additional proof that you can afford the repayment. Lenders can figure this out by looking at your income, debt and stability of your hiring to borrow money fast.
How much can you borrow money in Norway?
The amount you can borrow money from norway varies from lender to lender. Usually money no matter how much I can borrow is anywhere from $ 1,000 to $ 500,000. Your personal credit limit can be increased if you have completed repayment of the loan. This means you have a good credit rating and next time you can borrow larger amounts.
The benefits of borrowing money on the day
- You can create a program for money online. No one needs to talk to anyone, to go to the bank, to prepare documents. Basically, you just have to choose how much money you need and at what point it will be paid back.
- The decision will be made in a few minutes. Once you have completed the program, it will only take a few minutes to get the answer.
- In 15 minutes the money will be in your bank account. If everything is great and you get the money to reach your bank account in 15 minutes.
- The fast loan is available without collateral. No fear of losing a car, property or anything else. But it only works with small amounts of money. In other cases, the organization may request to lift a car or property.
- It is a great way to find a way out of the current situation. We know many bad things that happen to happen to good people. It could be a broken car, a sickness or simply not having enough money to buy tickets to visit family. In some of this, and much more situations, quick loans will help.
Disadvantages of using loan money online
- High lending rates. Let’s be honest nothing is perfect. So when you need money quickly, you will have to pay more back, just like standard credits. Basically, in less time equals higher prices.
- Penalty clauses are scary. If things go wrong and you will not be able to close the loan on time, penalties will be worth much more than with regular credits.
- All loans are a chance to ruin your credit history. There is always a risk that something will go wrong. And if you misstepped this time, first of all, you will have to pay fines and second, your credit history will be ruined, so getting money will be more difficult.
- It’s a risk. If you do not know the company well enough or you are not in to check licenses and read contracts, people can take advantage of you.
- It can blow your budget. The same with credit cards and other loans that you tend to spend more money than you have. There is some kind of individual disadvantage, but be sure to think twice and count every penny so you stay out of trouble.
How fast can you borrow money?
The idea of fast loans is to be as fast as possible. And they really are. Because the procedure is done online and has no papers, face to face and queues.
If registration is complete, credit history is checked and approval is given you will have money for 15 minutes. Plus having an account in one of the more popular banks can increase the speed of getting it.
And, of course, be sure to do it during business hours.
Terms of payment
In addition to fees, paperwork, security and approval time, the crucial difference between fast loans and bank credits is the time you have to pay it back. The first is short-denominated and the second long-denominated.
Most of the fast loans should be repaid for a minimum of 30 days and a maximum of 10 years. But there are even shorter variants. You can choose to take the SMS loan. Then you will have 30 or fewer days to close it.
What are other options for borrowing money?
If you need money, fast loans are not the only option.
You may consider taking a bank credit. So be ready to prove your salary or to lift something like a car, or to have a guarantor. It is the cheapest way to get loan money on account the same day, but it is not the easiest. Because you have to go through a lot of paperwork. A bank credit is the most standard option and, like everything else, it has its own advantages and disadvantages.
If you are planning to borrow money for a special purchase be sure to check your consumer loan. It is one of the variants of fast loans, but the money is given for that purchase. Most of the time you will be offered in stores. The most common example is consumer credit given for a new iPhone. Let’s be honest, not all the time we can afford the new tech. And there is nothing wrong with getting it using consumer loans , but make sure you think twice.
Sometimes money is needed to visit a grocery store or to refill the car or other everyday things. In these cases, borrowing money privately is a great position. A private loan is an alternative way of spending money only when needed. The good thing is that you will pay fees only the sum you have taken. You can read more and compare different private loans here