Online Loans: Selection of the Best Deals
Complete and Updated List of Online Personal Loans (November 2020)
Below we have compiled the best online loans of the moment with which to obtain fast money with very few requirements and sending the minimum documentation very easily and simply. A large part of these personal loans are free for new clients and do not require a payroll or endorsement for approval , some entities granting them even without checking the Bureau.
|Loan||Amount and term||characteristics|
$ 200,000 from 10,000 3 years from 3 months
| Very low interest rates Entity: Doopla Maximum first loan: From $ 10,000 to $ 200,000 Repayment period : From 3 months to 36 months Response time: 48 hours Time to get the money: 48 hours Is the first loan free? NO Cost: $ 200,000 for 36 months: $ 70,817.08|
(CAT 23%) Characteristics and requirements: With payroll Without endorsement Only positive Bureau Minimum age: 18 years Does it allow early cancellation? YES Is there a possibility of an extension? NO (Expenses: NO) Ways to receive the money: Bank transfer
$ 100,000 from 5,000 3 years from 4 months
| Flexibility in payments Entity: KuboFinanciero Maximum first loan: From $ 5,000 to $ 100,000 Repayment period : From 4 months to 36 months Response time: 5 minutes Time to obtain the money: Immediately Is the first loan free? NO Cost: $ 25,000 a 4 months: $ 26,004.76|
(CAT 36.7%) Characteristics and requirements: With payroll Without endorsement Only positive Bureau Minimum age: 18 years Does it allow early cancellation? YES Is there a possibility of an extension? NO (Expenses: Commissions for extension of the term: indicated in the contract) Ways to receive the money: Bank transfer
$ 8,000 from 1,000 10 years from 6 fortnights
| It works like a line of credit Entity: Money Maximum first loan: From $ 1,000 to $ 8,000 Repayment period : From 6 fortnights to 10 years Response time: Minutes Time to obtain the money: Immediately Is the first credit free? NO Cost: $ 8,000 at 10 years: $ 2,808.00|
(CAT 468%) Characteristics and requirements: With payroll Without endorsement Only positive Bureau Minimum age: 21 years Does it allow early cancellation? YES, total or partial. Is there a possibility of an extension? YES (Expenses: Daily interest of 0.67% without VAT) Ways to receive the money: Bank transfer
8,528.54% Without Bureau
$ 4,000 from 1,000 30 days from 7 days
| You can also request up to $ 30,000 in the form of line of credit Entity: Lendon Maximum first loan: From $ 1,000 to $ 4,000 Repayment period: From 7 days to 30 days Response time: Immediate Time to obtain the money: Between 24 and 48 hours ¿ Is the first credit free? NO Cost: $ 4,000 for 30 days: $ 1,530|
(CAT 5,045.48%) Characteristics and requirements: Without payroll Without endorsement Without Bureau Minimum age: 20 years Does it allow early cancellation? YES, total or partial. Is there a possibility of an extension? YES (Credit extension) (Expenses: Credit extension cost) Ways to receive the money: Bank transfer
|Online loan brokers and intermediaries|
According to entity
According to entity from 1,000 Payment deferred from 7 days
| Loans for individuals and companies Entity: Kreditiweb Maximum first loan: From $ 1,000 to According to entity Repayment period : From 7 days to Deferred payment Response time: 2 minutes Time to obtain the money: 48 hours Is the first credit free? NO Cost: Not specified|
(Variable CAT) Characteristics and requirements: Without payroll Without endorsement Only positive Bureau Minimum age: 26 years Does it allow early cancellation? YES Is there a possibility of an extension? YES (Expenses: With cost according to entity) Ways to receive the money: Bank transfer
According to entity Without Bureau
$ 100,000 from 1,000 3 years from 3 months
| Up to $ 100,000 and without Bureau Entity: Solcredito Maximum first loan: From $ 1,000 to $ 100,000 Repayment period : From 3 months to 36 months Response time: 15 minutes Time to obtain the money: According to entity Is the first credit free? YES Cost: Not specified|
(Variable CAT) Characteristics and requirements: Without payroll Without endorsement Without Bureau Minimum age: 18 years Does it allow early cancellation? YES Is there a possibility of an extension? YES (Expenses: Fees) Ways to receive the money: Bank transfer
According to entity Without Bureau
$ 50,000 from 1,000 90 days from 61 days
| Loans from 0%, with Entity Bureau : Pezetita Maximum first loan: From $ 1,000 to $ 50,000 Repayment period : From 61 days to 90 days Response time: 15 minutes Time to obtain the money: 24 / 48h Is the first credit free ? YES Cost: Not specified|
(Variable CAT) Characteristics and requirements: Without payroll Without endorsement Without Bureau Minimum age: 18 years Does it allow early cancellation? YES Is there a possibility of an extension? According to entity (Expenses: Fees) Ways to receive the money: Transfer
Necessary requirements to request a loan online
The requirements that we must meet to apply for a personal loan online are usually brief. Although each financier has its own requirements, depending on the type of loan, amount requested and repayment term, most entities agree when requesting the following requirements:
- Be of a certain age: the age range considered safe for an applicant to be able to pay off a debt ranges from 21 to 65 years. Some institutions accept to give loans from the age of 18 when you have a fixed income.
- Being able to prove our identity and address through the corresponding Identification: it is important to provide the official accreditation of our identity and proof of address.
- Mexican nationality and have a fixed residence in the country: each lender establishes what requirement is necessary to obtain an immediate loan in their organization.
- Have sufficient monthly income: we must be able to demonstrate our solvency capacity to pay the requested loan .
- Have a good credit history: although this requirement is not exclusive for organizations that accept applicants who are in Buró de Crédito, organizations will evaluate our credit history to assess our solvency capacity.
- Credit, personal or work references that guarantee our solvency capacity: in some cases financial companies may require this type of references to evaluate our credit, personal or work situation to analyze our moral solvency capacity.
- Be holders of a bank account: we need to have a bank account with its respective CLABE in which to receive the income from the loan in cash that we request.
- Have a cell phone number and contact e-mail: organizations will ask us for this requirement as a means of contacting us.
What documentation do we need to apply for an online loan in Mexico?
In general, when we talk about the documentation we need to request personal loans online we refer to the following documents:
- Have our updated official identification : identification issued by the National Electoral Institute (INE) or a valid passport, or a resident card issued by the corresponding immigration authority is required in case we are foreigners.
- Proof of Address: Lenders consider this requirement especially important when our current address does not match the information on our official identification. The vouchers allowed are: electricity bill, proof of residential telephone line or internet and water bill.
- Proof of income: the presentation of an employer letter or payroll receipt is accepted. In the event that we are merchants, freelancers or that we do not have a fixed monthly income, we can present the status of our bank accounts so that they can consult our latest movements and can assess our solvency.
- Credit history: used to assess our creditworthiness.
- Credit references: only in some cases they may ask us for references about the payment of our loans in order to verify the responsibility of the loan applicant.
- Personal references: they may ask us for the name and contact number of friends, family, neighbors or co-workers who provide personal references about our moral quality.
- Labor references: although this type of references is not always requested, they are useful for organizations to verify our employment relationship with our company.
The documentation that we will have to attach when we request an online loan will depend on aspects such as the requirements of the financial company to which we direct our request, the amount we request, or the repayment term we choose.
Are there free online loans, without interest or commissions?
Online personal loans offer us offers and promotions for new clients that will allow us to take out loans without interest or fees.
This type of loan, applicable only to new clients, has a series of restrictions on the maximum amount allowed and the accepted repayment term. Immediate loans without interest rates are a cost-free financing alternative with which we can solve specific problems due to lack of resources.
Is it possible to hire a loan online if we are paying another?
Not all companies that grant online loans will allow us to request two credits at the same time . We will have to wait to finalize the payment of our loan to be able to request a new credit
But there are some entities that work as lines of credit and if they allow to request more than one loan at the same time , as long as it does not exceed the credit limit set by the entity for our financial profile.
Quick loans: in what term will we have the requested amount?
One of the benefits of urgent loans is the immediacy with which the financial companies respond to our credit request. In a short time, the lenders evaluate our application, responding to our request in just a matter of minutes .
In case our request is approved, the transfer of the requested amount will be instantaneous, being able to enjoy the requested amount quickly and easily.
Can finance companies grant us loans without a credit bureau?
Yes. Some of the urgent credit organizations will be able to grant us loans without a bureau.
In any case, the conditions of this type of loan will depend on our credit behavior .
Having a credit history without pending debts will be an element in favor for us to obtain the granting of new loans in the best conditions. In any case, the final decision to approve our credit application will depend entirely on the grantors according to their internal policies and criteria.
When our credit bureau score is negative, the chances of getting an immediate loan will imply the payment of a higher interest rate and a lower amount than we could get with a better bureau score.
How is the repayment of an immediate loan made?
In order not to have problems with the repayment of an urgent loan online, we must make the payment of the amount owed within the term established in our contract with the lender.
Immediate loans grant low amounts that must be repaid in a monthly payment within the fixed repayment period. The alternatives for making payments are various depending on the internal policies of the lenders themselves.
The most common form of return used is direct debit to our bank account . It will also be possible to make a payment at the window of the banks with which the credit institutions have agreements , or to collect directly from our payroll receipt .
If this is the first time that we have requested a cash loan from the finance company, and we have benefited from the promotion for which we will not pay interest rates or fees, delaying the payment of the amount owed will entail the payment of a penalty that will cause expenses associates.
If our online personal loan application is rejected, what can we do?
Although normally lenders agree on many aspects of their internal financing policies, we must not forget that the wide range of credit institutions in the market will make it possible for us to apply our credit application as many times as we want in the sector organizations.
Recommendations to take out online loans without problems
If we are thinking of applying for a loan online, it is advisable to follow some basic recommendations to avoid being deceived:
- Pay attention to financial companies that offer us cash in a short time and without a good credit history, without endorsement or guarantee: organizations that grant immediate loans offer low amounts of money, usually amounts of $ .1,000 to $ .4,000.
- Attention to ads with offers that are too good: offers of amounts such as $ 50,000 in 15 minutes, without a bureau and without an endorsement can be a fraud.
- We do not have to pay any advance: commission payments, the cost of credit and the interest rate are paid in the monthly payments or loan repayment fee. It can be a fraud as long as they ask us for money in advance.
- Carefully read the contract with the lender before signing it: it is important to pay attention to the financing conditions offered to us before signing the contract.
- We will not provide confidential personal information: in no way will they be able to ask us for our passwords to access our bank account online. We should be suspicious of organizations that ask us for secret personal information.
- Make sure that the credit company is registered with the Condusef (National Commission for the Protection and Defense of Users of Financial Services) or the CNBV (National Banking and Securities Commission).