Do you need to apply for a loan with ASNEF ? If your savings are not enough to cope with a certain financial situation, you should remember that they are always a possibility.
However, in order to access the money you will need to meet a series of requirements. For example, we must have a good credit history .
This means not having any recognized debt.
ASNEF is the acronym for the National Association of Financial Credit Institutions and manages a database in which the data of those individuals, professionals and professionals who have not paid their debts are recorded… that is to say: defaulters .
If your details are in the ASNEF, it will be more difficult for you to access loans, although it is not impossible. You will have to look for a loan with ASNEF ; that is, a bank or lender that offers it to you.
What is a loan with ASNEF?
Generally, the ASNEF loan resource is typical of online loans , although there may be exceptions in physical entities.
These loans are characterized by being more humanized ; the personal situation of the applicant is taken into account and not so much their credit history. Although this does not mean that a loan with ASNEF will be granted yes or yes.
The bank will be responsible for verifying the applicant’s history, as well as the amount owed. If the amount is very high, no bank or lender will grant it to you. If the amount is not very high, there are possibilities.
It is also important to bear in mind that personal loans with ASNEF may not always be convenient. They may have high interest rates or a series of conditions that do not interest us:
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What should we base our selection of a loan with ASNEF on?
If you are looking for a loan with ASNEF, it is important that you consider the following criteria to choose the best option for your financial needs:
1. Interest rate
The interest rate is an important factor to consider when choosing a loan with ASNEF. Compare the interest rates offered by different lenders or banks and choose the one that offers the best interest rate for you.
To be clear, the interest rate is the fee charged to the applicant for requesting the money. When the repayment is made, the amount requested at the beginning will have to be paid, plus the amount generated by the interest.
Within this concept it is convenient to differentiate between the TIN and the APR:
- The TIN stands for Nominal Interest Rate and refers to the price paid for the loan with ASNEF, or any other type of loan. In other words, it is the amount of money that must be returned to the bank or lender based on what it has lent us (in addition to proceeding with the return of the initial capital).
- The APR is the acronym for Annual Percentage Rate and is an even more important value, since it tells us the total amount we are going to pay for the money we have been loaned.
By law, companies are required to indicate these percentages when submitting their loans.
2. Refund period
Consider the repayment term (also known as amortization period ) offered by lenders and choose the one that offers the most suitable repayment term for you.
One of the biggest mistakes we can make when applying for a quick loan with ASNEF is thinking about extending the repayment period as much as possible. Although it is true that this will increase our financial capacity, it will also mean that we will pay more interest.
The longer the repayment period, the more expensive the loan will be (the more interest will have to be assumed)
3. Payment terms
Another criterion that we should not overlook is the conditions of loan repayment .
Make sure you understand the loan repayment terms, including monthly payments, payment dates, and late payment fees.
Signing a document without knowing exactly what it entails is the first step towards disaster.
It is important to dedicate all the time necessary to understand what we have in front of us.
4. Requirements
As we mentioned before, the requirements for a loan with ASNEF can make you decide on one option or another.
Some banks may have more stringent requirements than others, such as a minimum income, minimum age, favorable credit history, among others.
Loans with ASNEF usually have stricter requirements, so do not hesitate to check them before starting the application.
5. Reputation of the lender or bank
It is very important that you choose a lender or bank that has a good reputation. Thanks to the existence of online loans , we can now find information quickly by simply doing a search on the Internet.
You will simply have to type the name of the lender/bank, followed by the word testimonial or opinions to find out their reputation.
However, don’t just stick to a positive or negative opinion. You’ll have to balance things out, since any entity will always have some dissatisfied customers.
6. Security
In addition to all of the above, to request your loan with ASNEF you must check that the bank’s platform offers a secure interface against any type of unauthorized access.
Among other things, make sure that it operates under the https protocol , since this element ensures that it is protected against attempted attacks.
Conclusion
In conclusion, if you want to apply for a loan while on ASNEF , the first thing you should do is stay calm. Try to pay off the debt to increase the chances of being granted it, but if you are not lucky, some banks and lenders can offer you different options to get the loan.
