Advantages and disadvantages of quick personal loans


The possibility of being able to get money without leaving home is the great attraction of online loans, but the truth is that these products also have other advantages (and some disadvantages). The different online loans can be included in three major categories, each with its own characteristics.

Mini online credits

Mini online credits are loans no higher than 800 euros with a return period that does not exceed 30 days. The bidders are private lenders.


  • Speed Since the online credit is requested until the money is received, it can go from a few hours to a maximum of two working days
  • Few requirements. Among all the online loans, the mini credits are the ones that require fewer conditions. All you have to do is send a photocopy of the DNI, a bank statement that justifies the income and the account number to which you want to receive the money.
  • Acceptance of people with a risk profile. Some companies have no problem giving credit to those who do not have payroll or endorsement or are registered in the ASNEF list.
  • Very good offers. Competition between entities stimulates the creation of great offers, such as the free online mini credit of Vivus.
  • Transparency What is contracted is paid, neither more nor less. There is no small print.


  • Interest is the highest of all online loans. The cost is usually around 1% daily.
  • They should only be ordered promptly. Otherwise, there is a risk of entering into a debt spiral.

Quick credits online

Fast loans are online loans that offer to finance of up to 15,000 euros. The repayment term is longer than that of the mini credits.


  • Speed in both the application and the concession. You can have the money in a matter of a few hours.
  • Little paperwork The just documentation is needed.
  • No small print. As the application and signature are made online, the loan conditions are clear.
  • Interest less than that of online mini credits.
  • Some entities accept clients with a risk profile.


  • Somewhat more demanding requirements. It is logical considering that the credit is greater.
  • Interest higher than that of online personal loans.

Personal loans online

Quick personal loans are like traditional personal loans, but with the advantage of being able to hire them online with a really fast lender.

Advantages :

  • Low interest They are the cheapest online loans.
  • Facilities offered by the entities. For example, if we want to contract the ING Direct Orange Loan, the bank puts at our disposal a messenger who will come to our house to collect the documentation.


  • Harder requirements. If we do not have the confidence of the entity, we will not get credit.
  • Bonding Some banks require seniority, that we direct the payroll or the pension or that we hire some additional service.

Online loans do not have to be cheaper

Although it is much more convenient to ask for financing online, online credits are not always cheaper than traditional ones. With a large number of offers, there are the same opportunities to find both online loans and traditional loans at a good price. To find the best option we have to consult which are the best loans in the market.


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