5 days
30 days
Loan term
30 days
Loan information
Do you need the mini loans? At Casting Credit we have the solution! We adapt to your needs, unforeseen events and difficulties. We are a company born to solve your worries and adversities.
Before applying for loans, you need to know the two most common types, secured loans and unsecured loans. Secured loans tend to be of higher amounts. For example, above € 25,000 and for longer periods of time, usually five years or more. Examples of a guaranteed loan are mortgages, when money is lent against the value of your property, to develop a new project such as opening a restaurant, a hotel chain or to invest in a property that we are interested in promoting, for example, when buys a business that already exists as a clothing store, to remodel it, making a medium-long-term investment. There are also secured loans of lower amounts, which are also tied to your personal assets as mentioned above, but on a smaller scale. For example, buying a low-end car.

Loans: Guaranteed and unsecured. Which one suits me?

Apparently secured loans need some type of endorsement, be it a person or a mortgage. Therefore, if payments are not made on a guaranteed loan, you run the risk of losing the assets associated with this transaction. However, the main advantage of guaranteed loans, in addition to being able to have higher amounts for longer periods of time, is that the interest rate is usually lower and can be fixed or variable. One fact that you should know is that in the long term fixed interests are always better because you know what economic amount to pay each month. On the other hand, variable expenses fluctuate as in the market, at a certain time they can be very low, usually more than fixed ones, but the market can fluctuate against and the interest rate rise drastically. You have to be very careful with this, as it may be that at some point we cannot pay it.

The most common uses of secured loans are buying and selling real estate, consolidating debt, paying for college, medical expenses, buying and selling cars, home repairs, buying a new business or the development of a new project. All these needs entail a very high economic expense, so it is necessary to request a personal loan as soon as possible.

Unsecured loans are usually for smaller amounts, for example € 1,000 or more and for shorter periods of time. They do not require linking of your personal assets, but if you fail to pay, it can have serious consequences. It is much easier to get this type of money fast than the previous one. With this you do not need to have an endorsement, or a mortgage or in many cases a payroll. It is the easiest way to get money instantly. You can return it comfortably according to your needs and those of the entity with which you request it.

Short-term loans, such as those from Casting Credit, are also unsecured loans. This type of personal loans are normally for amounts up to € 3,000 and short-term, that is, to be repaid in a few months. Normally, if you request an economic amount of up to 800 euros, the return period is up to 30 days, so you have a whole month to return the requested money. In addition, if you can return it before time, Casting Credit gives you advantages for it, even the interest rate may vary taking into account the moment in which you want to return it. Like most unsecured loans, Casting Credit loans do not require the bonding of assets, but the failure to meet the payment can have negative consequences, such as inclusion in the lists of defaulters such as credit association or RAI. Before requesting money, always consider the possibility of paying back your credit quickly. In this way, the relationship with us may remain over time. Getting to be able to request up to 3,000 euros, available in 24 hours.

about the author

Maria Solis Burley

Credit consultant in Spain. Financial Analyst at Crédito Victoria.
LAST UPDATED: January 18, 2020