Nowadays, almost all of the online loan services operate very fast. Some large stake banks still have minor problems with speed, but they are also developing their own services faster and faster. Especially for small unsecured loans, automated computer programs are used to decide whether a loan decision is positive or negative.
While in the past, fast loans were only available through quick loan services, many banks and other loan services now also get quick loans.
For example, through our free tendering service, you can get your first loan offer in less than two minutes.
How can I get a cheap loan now after a law change?
The law governing interest and charges on unsecured loans stipulated that the nominal interest rate of the loan should not exceed 20%.
In addition, the maximum cost of the loan may not exceed USD 150 per year.
Under the old law, the effective annual interest rate for loans under USD 2000 could be up to a maximum of 50% + the reference rate, and there were no restrictions on loans over USD 2000.
Thus, it can be stated that the change in the law significantly reduced the cost and interest rates of loans and now it is possible to get a much cheaper loan online.
Can I still apply for a loan now without collateral?
Yes you can.
Although the change in the law significantly reduced loan costs and interest rates, unsecured loans are still available.
Although many of the unsecured loan services have ceased operations, they have been replaced by many traditional stone banks and other lenders.
As a result, the number of loan services has remained roughly the same as before the change.
Apply for a loan in several places now
Competitive lending has always been very important. Even earlier, however, it was a very complicated and time-consuming task, when applying for a loan had to be reserved at many different banks. Now, however, things are different, and now you can apply for a loan from many banks at the same time, and it only takes one loan application to complete. You can start bidding on our service now, too, and we are competing with more than 30 banks and other lenders.
Need a loan now, how do I compare loan offers quickly?
When the loan is in a hurry, the comparison of loan offers is usually not done and the loan is applied for the first service received.
How do I make sure I get a loan as quickly as possible?
You can get the best chance of getting a loan by asking for a loan offer from many different banks and other loan services at the same time. For example, through our service, you can reach more than 30 banks and other lenders in one application.