One of the big doubts among those who ask for quick loans is : how long do they take to become effective? We just a comparator, so we can not speak for each lender. To know all the details about deadlines, prices and others, we recommend visiting the web page of each of them. In our listings you will find direct links to all of them, which you can use without any additional cost.
However, we can speak in general terms of several deadlines, at three different levels. On the one hand, the processing period. On the other, the concession. And last, the transfer. Let’s see it one by one.
Processing of quick credits
To be able to speak properly of’ fast loans’, an indispensable condition is that they are processed in an agile manner. The Internet has helped a lot: thanks to websites like the lenders of our comparator, today it is much easier to make a formal request for a loan.
For this, the usual thing is to follow these three steps: select amount and term, fill in the web form and finally, wait. Hence, many refer to these loans as quick loans without paperwork: it is no longer necessary to go to a bank branch to complete sheets, go to local or federal offices to request documents, etc.
The data that is usually requested in most forms are such as the name, surnames, cell phone number, email address, bank account number, employment status, etc. The duration of this step depends on each lender and each user, but it is usually completed in less than 5 minutes.
Concession term for fast loans online
Once the form is filled out and sent, it is time to wait. Again, the waiting times depend a lot on each lender, although all tend to agree that it is a matter of minutes, counting from the moment of sending until the moment in which the company communicates the affirmative or negative response.
This is because today’s online lenders have advanced software to automatically verify user data. What used to take days now can be achieved in the blink of an eye. Only in the case that there are incidents with the data sent, the time period for the response may be longer.
Between the sending and the affirmative or negative response by the company can mediate a communication between it and the user. This communication would have the sole purpose of confirming that the user’s contact data is correct. To verify this, a phone call, the reception of an SMS or the click on a link in an email may suffice.
We remind you that the indispensable conditions for the company to accept the request of one of these quick and easy loans are: to be of legal age, to have a correct legal situation in Mexico (both conditions can be demonstrated by means of an Elector Credential), to have Sufficient economic income and lack of large debts in the Credit Bureau.
Deadline to receive the money from the quick loans
This is undoubtedly the period over which fewer certainties can be written, because each lender and each user is different. As far as the lender is concerned, the most usual thing is for the lender to make the transfer at the same moment that it confirms the client that grants the loan. However, this is not always the case, according to the policy of each company. And as far as the user is concerned, the bank in which he has his personal account will also influence.
However, the most determining factor in this case is the moment in which the express loan is processed. If it is done at dawn or on a holiday, the arrival of the money for the client could be delayed until the next business day. This is so for the so-called SPEI (Interbank Electronic Payment System), according to which we must wait at least a few hours for the transfer is reflected in the movements of the account and the customer can withdraw it from the ATM, use it for an online purchase or any other reason.
Other details of these loans
In addition to these periods, it is advisable to take into account another one: payment. Normally, it is the client himself who chooses the date that best suits him for the payment, but occasionally unexpected events may arise. In those cases, the term can be extended by extension, and it is normal for the lender to allow this option from their own website.
However, you can also contact the customer service to communicate the situation and negotiate an agreed solution, such as a longer payment schedule, with new biweekly installments.