As the name implies, it is a credit that the client can use for whatever he wants, for any need or opportunity that comes his way. You do not need to explain to the bank what you are going to use that money for, as it happens with other credits, such as housing, for example, where you can only allocate the money for housing and not for another purpose. In the same way, it happens with other similar products, such as educational loans or to buy a vehicle.
Requesting a free investment loan could be the solution to carry out any pending project that you have had in mind. Nowadays, we offer diverse options that adjust to your loan needs, in a short time and without any formalities.
A free investment loan can become a quick and secure solution when you need a not-so-large amount of money according to your specific need; For example, pay air tickets for your next trip, invest in your wardrobe, buy a light transport vehicle, such as a bicycle or motorcycle, start your small business or fix your house.
To obtain one of these credits, you must first request it, knowing in advance the options offered by the different banks in terms of amount, terms, rates and requirements. You can request it in two ways, the first and most convenient is via the Internet; All banking entities offer the possibility of making the application of the credit via Internet, filling out some forms in which information related to your personal data, your monthly income and work references are requested to be confirmed by phone and you usually get a pre-approved.
The second option to request the free investment credit is approaching a bank office personally with a commercial advisor who will fill out these forms for you and get a much more personalized attention. The disadvantage of this last option is that you will have to leave your home, make a (maybe long) line, wait for a turn and find an adviser who may not understand your needs.
Credit for savings has become a useful tool for those who have been affected by the change in the economic situation and who have somehow closed doors for the approval of short-term loans.
This mechanism of portfolio collection consists in that the debtor authorizes his employer or paying an entity to make a deduction from his salary or pension, with the objective that these resources are destined to the payment of the installments of the credit acquired with the financial entity.
If at any time you are reported to credit bureaus, you can consider this credit as a short-term possibility. However, its approval depends on certain requirements:
- The credit you are requesting cannot be of high value.
- It is a credit that can not be deferred too long terms.
- The requested amount should not exceed approximately $ 700,000.
- The value of the credit must be proportional to the value for which you are reporting at the credit bureaus, that is, it is probable that you will be approved a loan for savings of $ 300,000 if your debt is in arrears of $ 1 million.
With the regulation of the new Law of Libranza of 2012 and that came into force on April 27, not only will be benefited people who are on the payroll of a company but those who have a contract for the provision of services.
- No co-signer, guarantor, guarantor, or guarantees are required in addition to the discount commitment.
- The discount becomes mandatory for all employers, who can not charge workers for doing it.
- The consumer has the right to decide with which entity he wants to access the credit.
- The continuity of the wage is allowed when the worker changes employment.
- The bill allows access to formal credit, particularly for lower-income workers.
- The interest rates offered by the banks for the delivery are substantially lower than those of other consumer loans.
- Everyone who earns a minimum wage may have access to this credit.