In those moments in which we need financing through the request of a loan in the quality of personnel it is generally convenient to have the money as quickly as possible where there are no delays. Because of that, we ask questions every day about the issues regarding disbursement, the request for credit, the ways to pay, among many other issues that are important. Then it is opportune if you want to know all that relevant information that continues reading this exhaustive analysis that will allow us to show examples, financial entities, among many other things.
How long does the approval of a loan take?
Currently with the times in which the economy and financing options for both individuals and companies is not very broad, determining precisely how long it will take for us to approve a loan is going to be something really difficult. There are a number of variables that can influence the speed of approval or that is a slow process. We want to mention a series of issues that can always have important interference in that a financing is approved in the act or it can take more time:
- The amounts of money that are going to be requested from the institution, be it a bank or a financial institution.
- The terms in which the corresponding return of the money will be made.
- If the client usually has credit transactions in the institution that requests the credit service.
- The destiny that the money has, is not equal a personal credit that a financing to realize the acquisition or construction of a house.
- The qualification that the applicant has for having previously requested other financing.
- The amount of documents that have been requested to grant the loan is relevant.
- If the loan is processed through a technological platform that speeds up the procedure.
How long does it take to give you a personal loan?
Undoubtedly, when you need liquidity quickly and you do not have enough money, many times a person comes to request personal financing. First, it is good in this question to mention that these credits are those that grant an amount in cash and the client that receives them can spend them as they want without having to give them a particular fixed destination. Generally the requirements requested in this credit, which we will mention later, are simple and there are not many, therefore, you can end up approving presenting a few papers in a period of hours, which usually does not exceed 24. Now we will say conditions requested by entities :
- If the loan is requested at a bank, an account will be opened.
- You will have to present your National Identity Document.
- As for the amount will be according to your income, which credits with salary receipts or payment vouchers to Monotributo.
- In most cases, a service is requested.
- And now some financial institutions can come to ask for a guarantor of the loan operation.
What is credit disbursement?
When we require a credit we know that we comply with the conditions set for that service, the bank analyzes our situation and then approves us or not the credit. In case that we apply in the financing program that we need, we will have to take a last step before disposing of the money and it is the disbursement of this. What does it mean? It is plain and simple when the bank gives us the cash to be able to use it and the ways to do it can be diverse: depositing it in our savings box, withdrawing it directly by cash or the bank acquiring our debts through the plans of consolidation.
How long does the bank take to credit the money if I apply for a personal loan?
Mentioned since it will depend on what type of credit is going to be the time when money will be able to arrange it, now we are specifically dealing with the case of strictly personal loans. These loans are offered in almost all cases very quickly, even in some banks clients are customers can apply directly through the Home Banking system, others can be requested by phone or personally in a branch. If you meet the conditions demanded by the institution, which in many cases are related to your good grades, you can have the money on the spot that is in a few minutes but if not, it will not exceed 48 hours after having made the request.
What is a pre-approved credit?
Income, credit history, where requested, among some other variables are those that are going to determine whether a loan can be pre-approved or not. Before mentioning what this loan means, first we would like to mention that granting these loans is a way that financial institutions have to be able to retain their clients and so they continue to make consumer finance operations, that is, personal, in a same institution. A pre-approved loan is a product that gives you money that you already have at your disposal, but emphasize that it will not mean that you can go to withdraw the money, but that you already have certain conditions fulfilled and it is easier to apply.