BEST LOANS October 2020 | Which are? | iSaving

Have you spent a lot of money going back to school? Do you need liquidity? A loan can help us solve specific financial troubles, we just have to find the one that suits our needs. For that reason, from iAhorro we show you the best loans of October 2020.

Younited Credit Loan

The Younited Credit Loan is a form of P2P financing in which it is not the entity that will lend the money but the investors who contribute the amount that the clients need. It allows you to obtain up to € 50,000 to be returned within a period ranging from 24 to 84 months.

This loan is intended to finance all projects. It does not require an endorsement, the request is made online and we will get a response within 48 hours.

The necessary documentation is the following:

  • DNI.
  • Proof of income.
  • Bank ownership.
  • Movements of the last month (bank statement).

Freedom + Loan (Banco Mediolanum)

East loan grants a minimum of 5,000 euros to a maximum of 20,000, money that will be available from the end of the procedures. Its repayment period ranges from twelve months to seven years.

There is no study fee or early cancellation fee, but you will have to pay an opening fee of 1%, which represents between 50 and 200 euros of expense for the client.

As for the interest rate, it is 3-month Euribor + 7%.

Also, requirements to access this loan are the following:

  • Being an employee, self-employed or professional companies (with a natural person client guarantee).
  • Have a minimum seniority of 6 months as a Banco Mediolanum customer.
  • Have declared net income, among the holders, greater than 30,000 euros per year.
  • Having domiciled in the last 6 months recurring income derived from their professional activity at Banco Mediolanum (payroll, pension, invoices, etc.) for a minimum monthly amount of 1,000 euros.

How to process an urgent personal credit in Spain?

Credit Line (Creditea)

The Credit Line of Creditea allows you to obtain up to 5,000 euros. The money used can be returned within the defined period between 61 days and 36 months.

The granting of the credit line is carried out with a kind of virtual account, without commissions for opening or maintenance, in which different amounts may be available until the limit granted by the entity is reached. In this way, only interest is paid on the money drawn down and, once it has been returned, the total amount granted at the beginning can be counted again.

Find out how to pay in times of COVID-19

Twinero mini-credit (Twinero)

Twinero’s mini-credit grants between 50 and 300 euros to be returned within a minimum period of 7 days and a maximum of 30 days, in case you are a new client. If a loan has already been requested more times, up to 600 euros may be requested.

The request is made online and, if it is processed during business hours (Monday to Friday between 9:00 a.m. and 7:00 p.m. or Saturday from 9:00 a.m. to 5:00 p.m.) the answer on whether it is granted or not is obtained after 15 minutes. The minimum APR of the twinero mini-credit is 3.752% in the event that 300 euros are requested to be returned in 30 days. It has a TIN between 34.29% and 36%.

The Twinero mini-credit applicant must reside in Spain, be between 21 and 70 years old, and be the owner or joint owner of a bank account.

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