Are you going to use online banking for a loan?

If you are already familiar with the use of internet banking, you may find it attractive to apply for a loan this way. for clarification

However, before making a decision, take into account that for internet loans the agreement between the applicant and the institution goes through a contract, so here we tell you everything you have to know before Click and accept credit through this channel.

  1. Do you need it?

Before accepting any type of credit, by any means, at an ATM, online banking or website, ask yourself if you really need it.

It can be very tempting to accept a loan for 20 thousand pesos offered by an institution through a pop-up window while you are browsing the internet. But if you don’t even need it, how are you going to enter data and get into unknown pages?

  1. Who do you ask for?

Regarding the previous point, more and more companies are taking advantage of the use of the internet and technology to offer a large number of products and services, including financial services such as the granting of loans.

However, before giving “accept”, investigate who you are about to hire and avoid sharing your data with unknown people or companies. Remember that it is very important to take care of your information through the handling you make of it also on the network.

  1. Interest and commissions

Ask, read and investigate everything that is related to what the credit you are about to accept will cost you. On many occasions, they offer you a Total Annual Cost (CAT) on the cover of the contract or on the 25 percent internet ad, for example, but when you read the contract carefully you realize that there are other expenses related to that loan that they can raise your cost considerably.

  1. Terms

It is very important that you look at what they are asking for in exchange for credit. If the entity charges you expenses for the management of the loan, they must be charged at the time the deposit is made and you do not have to give advances for credit you still do not receive.

  1. Payments and penalties

Find out how much payments you have left and if these will be monthly or biweekly; as well as how much you will have to pay if you decide to finish paying your credit in advance.

Perhaps the need to have the loan is very high, but reviewing these aspects will not take you much time and can make a difference in your pocket regarding the credit you are about to take.