When you are looking for personal loans, one of the main objectives is to find the cheapest one. To find it, not only low interest is enough, but it is also important that you do not have commissions or links. Compare for free and discover the best personal loans- Extra resources.
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When we talk about personal loans without links, we refer to personal loans that are free from the hiring of linked products such as home insurance, life insurance, health care, direct payroll or any type of contracting of other financial products that are a demand to be able to access the contract.
Not having to contract associated products is a very important advantage when looking for financing, since on the one hand we can avoid the associated costs that some of these products have and, on the other hand, the procedures to carry out for the hiring of personal loans will be reduced significantly, helping to streamline the entire process.
Among the personal loans without links that can be found in the current market, we find quick mini-credits, with which we can obtain up to 300 euros if we are new clients with little paperwork, without contracting any connection and without changing banks. In addition, we can also find several offers of traditional personal loans with which to obtain financing from 3,000 euros for any project in just 48 hours without having to hire any additional product.
Characteristics of the different types of personal loans
As we have seen, there are several types of quick personal loans that do not require links to be able to hire them. Each type of personal loan will have certain determining characteristics according to the purpose for which they were created. Knowing each one with the advantages that can bring us is crucial to allow us to choose the credit that best suits our needs.
On the one hand, we find the quick mini-loans, the loans without linkage par excellence since to achieve them it will not only be possible to do so without hiring any additional product, but it will not be necessary to be a client or have a certain seniority with the entity in order to obtain them. These loans usually offer between 50 and up to 750 euros in just 15 minutes to solve small incidentals. Its cost is around 1.1% daily and has a maximum period of 30 days.
On the other hand, we also have personal loans for projects, these products are mostly granted by banks and allow us to obtain from 3,000 to 60,000 euros for large projects such as the purchase of a car. Their term runs between 12 months and 10 years and they have an average cost of 8% APR.
How to calculate the cost of the loans?
As we discussed, and l price of a loan is one of the most important factors of this and, in fact, you can include a variety of additional costs in addition to the links that will affect the total repaid and whether or not it is a good offer. For this reason, to know the total cost we will pay for a personal loan according to our situation, the amount, the term or the purpose for which we choose it, it is essential that we take into account the interest, commissions and other associated expenses that they may have.
From HelpMyCash we provide you with the free personal loan calculator with which we can calculate the total cost of financing we want to hire and, at the same time, compare it with other personal loans to make sure we choose the option that best suits us:
What links can a personal loan have?
Nowadays it is possible to find several financing offers without links, although there are still many personal loans that require the hiring of certain products to be able to access them.
The most common link of personal loans without a guarantee is that we have a current account in the entity with the domiciled income since this linkage assures the entity that we will receive our monthly income in the entity where the reimbursement fees are charged. This link does not usually have an additional cost, since payroll accounts, in general, do not have annual fees, simply take more paperwork to hire it.
On the other hand, other links that can ask us yes that will have additional costs such as life insurance or payment protection or contracting a credit card with a minimum mandatory use. This type of link, in addition to requiring an extra paperwork to access them, will also mean an extra cost that will make the total personal loan more expensive.
Can I hire personal loans without interest?
Yes Due to the great competition that has arisen in recent years between credit institutions and financial institutions, in the current market we can find different loans totally free of charge. It is essential that to make sure that it is really free, we will need to look at the annual equivalent rate (APR) and not the nominal interest (TIN) since the first encompasses all the costs that we will have to pay for the loan and the second only considers the interests.
In the case of free minicréditos, we can find several offers of entities that promote up to 300 euros without interest or commissions for new customers. These credits will be at 0% APR, that is, we will only have to repay the capital that we request in the agreed term.
In the case of personal loans without changing bank of larger amounts we must pay attention to whether they refer to the TIN or the APR. In personal loans without commissions or interests with very specific purposes (study, driver’s license) we can find financing completely free, but often when they talk about interest-free loans refer to the TIN, but this offer will have interests and commissions that they will not do it completely for free. In order for personal loans of greater quantity to be free, we must set them at 0% APR.
Requirements to get loans without ties
Each entity will ask that we fulfill certain conditions or others according to their risk policies. Fulfilling these requirements will be essential to guarantee the entity that we will be able to cope with the repayment of the personal loan without problems. In general, entities usually request the following:
- Be of legal age or be at least 25 years old. The minimum age will be determined by each entity according to the type of credit they offer, although a negotiation could be possible according to our level of income.
- Have regular income, sufficient to meet the repayment of the loan and justifiable by some official document
- Do not have outstanding debts: in order to obtain personal loans online, our data can not appear in a file of defaults as ASNEF. If this were the case we can only go to certain mini credit entities that do accept people with outstanding debts.
- Be permanently resident in Spain and have a valid DNI or NIE that certifies it.
Likewise, entities may request additional requirements to the general ones mentioned above, although this will depend on each entity, our profile and the amount that we request from the personal loan without ties. The requirements will vary according to the type of credit we request as well as the risk policies of each lender.
Application forms for credits without links
In order to obtain personal loans without links, the first step we must follow will be to fill out an application form detailing the characteristics of the loan that we want to hire and some personal and economic data that will help the entity performs a prior analysis of our profile and decide if you approve our request In general, the lenders will ask for the following information:
- Amount and term of the loan that we want to hire. Thanks to the simulators of online loans that count the vast majority of entities we can know how much we will pay each month and in total for the credit we want to get before starting to fill out the form.
- Personal information: name, surname, document number, date of birth …
- Contact information: landline and mobile, home address and email.
- Labor situation: whether we are working or not, type of contract, sector, seniority in the company, position …
- Economic data: total monthly income and expenses to know our level of savings and the capital that we can use to repay the personal loan.
With this information, the entity will be able to analyze that we fulfill the requirements to be able to face the repayment of the loans without a problem. Thanks to the progressive inclusion of new technologies in the processes of application and granting of loans, the analysis of the forms can be as short as a few minutes.