Fast loans are a type of payday loan that is granted in less than 48 hours : it is an ideal credit solution for those who need an urgent amount of money to carry out a project or to fulfill an obligation.
As one can well understand from the denomination, the main strength of these loans is the speed with which the financial capital is disbursed which is credited to the current account of the instant subject.
Let’s find out in this guide how fast or fast loan works.
Fast lending: the technical-functional characteristics
For certain customers the time factor is an important feature to consider when requesting a loan.
Like any other type of payday loan, the fast loan offers the advantage of the speed with which the money is credited.
Usually, the sum is paid within 48 hours of the loan being granted.
The amount of disbursed capital varies according to the needs of the applicant, from a minimum of € 1,500 to a maximum of € 100,000 with durations from 12 months to 120 months .
This type of financing can be requested by all Italian or foreign citizens (with a valid residence permit) aged between 18 and 70 years living in Italy.
The fast loan does not provide for the mortgage guarantee and the repayment of the loaned amount is generally repaid according to a repayment plan with constant installments and a fixed interest rate.
In this way, it is certain that you know the amount of the installment to be repaid to the creditor institution upon signing the contract.
Fast student loans
A particular type of fast loans increasingly in demand is for students who need funding to meet urgent expenses.
The advantage of fast student loans is the advantageous interest rates : this allows them to pay back loan installments without incurring excessive expenses.