Access to financing has been, over time, one of the main problems faced by young Argentines.
And is that there are many factors that contribute to increase the problem of access to credit in our country, being ignorance and little financial culture two of the most important reasons to generate this discouraging panorama.
In this context, we believe that it is necessary to know which financial products can be accessed in the Argentine market and what characteristics each of them has. In the following article you will know what types of loans exist and which ones best suit your liquidity needs.
A simple definition about personal loans
The convenience of accessing a loan occurs not only in times of economic need; Many times, financing is also part of an adequate personal planning, whether to enjoy a good today and pay for it tomorrow or to manage the household budget responsibly.
In this way, the personal loan is defined as that product aimed at financing a particular person, so that the latter can dispose of cash freely and for what he considers convenient.
Historically, this type of loans have been granted by traditional financial institutions, which have been in charge of offering personal loans to the previous presentation of an application and a certain number of requirements which allow to guarantee the return of the loan or, at least, , minimize the risk of considering them unpaid.
A type of personal loan for every need
There are different motivations that a person has to request a personal loan. Accordingly, the different types of loans that exist in the current financial system can be defined.
Educational loans are a type of personal loan to students interested in starting undergraduate or who wish to pursue specialized studies.
This type of loan has the characteristic of having low interest rates and payment terms very convenient for the beneficiary. The presentation of requirements includes certain documentation granted by the same educational institution in which the studies will be continued.
On the other hand, online loans are those personal loans granted through the internet that simplify the granting of money to the presentation of the DNI, the Unique Banking Code – CBU and an email account.
The process is done entirely online and the answer is offered in a few minutes to your city, so for example you can apply in Neuquen , Mar del Plata or Córdoba .
The disbursement is made, many times, on the same day the request for financing is made and in some cases the credit history of the applicant is not taken into account.
Microcredits are personal loans small amounts of money which aims to cover immediate needs such as payment of an overdue bill or a help towards rent.
The return periods are also short, usually scheduled in no more than 30 days, with some exceptions. These types of loans are granted with minimum requirements and are aimed at those who have immediate needs for money.
Loans for debt consolidation are oriented to the cancellation of all loans that a user has in force, in order to keep one.
Generally, this type of personal loans provide the ease of paying a reduced fee significantly less than the sum of all the fees the user paid for the loans he had in progress, a longer payment term and a very high interest rate. more convenient.
Finally, quick loans are a type of loan commercialized by companies that have private capital and that are oriented to the granting of money to cover urgent liquidity needs.
The amount borrowed is usually smaller and the repayment periods are in a few weeks.
Knowing the different types of personal loans is the first step to evaluate the most convenient alternative when requesting financing. Whether it is used to solve a specific activity such as a trip or a celebration, cover the payment of a master’s degree or a postgraduate degree, buy a product that is in a limited time promotion or, simply, arrive with liquidity at the end of the month, it is possible to receive cash by requesting the right loan for each need.