How to get online installment loans with your bank

One of the advantages of asking fast money to a private company is the speed of concession. Private lenders do not usually ask for as much documentation as banks and operate through online platforms, which greatly speeds up the procedures and allows them to deposit us in a short time. However, some banks can also grant us quick credits in a matter of minutes and, also, at a better price.

How can I get money fast with a bank?

Private lenders are the kings of quick money, but some banks have not been left behind and already offer the possibility of getting credit instantly or in a few minutes. There is a way to get online installment loans for retirees.

Credit cards

Although we almost never think about it this way, a credit card works like a loan instantly. Whenever we need money quickly we can use the credit card, whatever the purpose. In addition, if we return the total of the loaned money, they will not charge us interest. For example, with the Barclaycard Oro credit card we can refund the payment of our purchases up to 59 days at 0% APR. This card also has other advantages: it has no issue or renewal fees, it offers discounts of up to 50% in shops, hotels, and restaurants and includes free insurance.

Payroll Advances

Some entities grant their payroll advances in a matter of minutes as if they were quick loans. This is the case of the Payroll Bankinter Advance, with which you can get an advance of up to € 6,000 to return in 20 days without paying interest. Requesting these advances is another way to get fast money, although to ask for them we must have some seniority in the bank and a payroll account that allows us to request the advance.

Pre-granted credit

Another way to get quick money is to access a pre-approved credit. This product works practically like a loan in an instant: the bank puts at our disposal a line of credit so that we can withdraw the amount we want at any time, paying interest only for the extracted capital. Generally, the maximum limit of these credits is around € 18,000, but to apply for them we must have the confidence of the entity.

Advantages and disadvantages of asking fast money to a bank

These fast bank loans are good alternatives to loans granted by private companies. However, before applying, we must know what are the pros and cons of asking a bank for quick money:

Advantage:

  • More money at a lower price: banks allow us to access quick loans of the higher amount and charge less interest than private companies.
  • Convenience: currently, banks have online platforms so that we can make our request from the comfort of our home.

Disadvantages:

  • Stricter requirements: banks put tougher conditions to apply for their quick loans. In addition, they may ask us to have some seniority in their entity.
  • Related products: sometimes, in order to be granted bank loans, we must also hire other linked products that may end up making the total price of the credit more expensive.