The best personal loans November 2020

It is not always easy to choose a personal loan online and find the one that best suits our situation. We help you to know the best personal loans available on the internet and we explain how to choose one.

Last update: 11 November 2020
Ranking created based on the most frequently granted loans
7 - 30 days
term
$ 50 - $ 300
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
1 - 48 months
term
$ 50 - $ 7,500
maximum first loan
No
free first loan
No
Supports Credit Checker
" APPLY FOR "
91 - 120 days
term
$ 100 - $ 1,000
maximum first loan
Yes
? Varies by lender
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
61 - 120 days
term
$ 50 - $ 300
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
6 - 60 months
term
$ 500 - $ 10,000
maximum first loan
Yes
? varies by lender
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
2 - 3 months
term
$ 50 - $ 750
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
1 - 60 months
? Even from 7 days
term
$ 50 - $ 9,000
maximum first loan
No
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 30 days
term
$ 50 - $ 1,000
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 62 days
term
$ 100 - $ 400
maximum first loan
Yes
? Up to € 300
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
2 - 3 months
term
$ 50 - $ 750
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 30 days
term
$ 100 - $ 1,000
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
1 - 48 months
term
$ 50 - $ 5,000
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
10 - 34 days
term
$ 300 - $ 500
maximum first loan
No
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 31 days
term
$ 50 - $ 500
maximum first loan
Yes
free first loan
Yes
? Your debt must not be more than 1500 $
Supports Credit Checker
" APPLY FOR "
18 months
term
$ 100 - $ 1,000
maximum first loan
No
free first loan
Yes
Supports Credit Checker
" APPLY FOR "


We have all found ourselves in situations where savings are not enough to deal with an unforeseen event, an emergency of any kind or simply that we are short of cash at the end of the month.

At Taichi Arts, the best internet loan comparator, we want to help you not only find the best personal loans online, but also help you to know which points are important when making the decision to apply for one type of loan or another.

What you should know about the best personal loans on the internet

In the world of fast credits and online personal loans there is a very large offer, so much so that sometimes it is difficult to know what we are looking for and what we need. Of course there are standards in all of them that are stipulated by current legislation and that we must take into account. When it comes to easy loans, you should always keep in mind that the interest rate will be higher than a traditional bank loan.

Even so, there are a large number of variables that you must consider and that we will explain to you below.

What are Personal Loans?

A personal loan is an agreement that you can establish as an individual with a bank or a private lender to obtain financing in order to solve a specific financial situation or carry out a project in the medium or long term.

This financial agreement consists in that you receive a certain amount of money that you agree to return within a set period , along with the payment of a series of interest or opening commission.

Are Personal Loans and Mortgages the same?

The best personal loans have a particularity, and that is that it is not necessary that you establish a real guarantee such as a car or your home , as in the case of a mortgage. This would be the main difference between both financing modalities, since it indicates that the entity is going to assume a risk and will support the loan through the payment commitment that you establish when you sign the agreement.

What are personal loans for?

Many people associate the idea of ​​a personal loan with debt, and if you do not plan this type of procedure well, you can aggravate your current situation. The objective of the best loans is to help you solve in a timely manner a situation that you could not cover if you had to wait to get paid at the end of the month . Although this action generates interest, they are designed not to affect your savings or personal financial situation.

Now, if you want everything to go well, you need to have financial discipline. Otherwise, if you spend as if you had no debts, you could find yourself in trouble in the medium term.

When to request a Personal Loan?

The best personal loans can be used for a variety of purposes, the most common being:

  • Purchase of consumer goods.
  • Payment of rent and services.
  • Payment of study fees if you want to do a master's degree or courses abroad.
  • Purchase of equipment for a business.
  • Home equipment.
  • Remodeling or home repairs.
  • Buying a car or repairing breakdowns.

Why do we pay interest on a Personal Loan?

The interest rate represents the cost of money. That is, you as an individual need to get financing and a company is able to cover this need. For the company or bank to be profitable to lend you money and, in addition, face the risk that implies that you fall into default, you must charge an amount of money for offering this service, which is translated into interest and commissions. In this way, a cheap personal loan will be the one with the lowest amount of interest and commissions.

Amount of personal credits

Our advice is that you request only what you need. We will always recommend that you request only what you need at that time, no more, no less. First because you will save commissions and second because you must make sure that you can return the amount. Some entities, for example, offer the option of requesting a relatively high amount, and withdrawing only what you need at that time , as is the case with Younited Credit. They work like a personal line of credit .

In addition, it is possible, although not always the case, that the entity asks you what you are going to spend the requested amount on.

Minimum and maximum age to request a loan online

The minimum age for all personal loans is always 18 years old, although there are entities that choose to raise that minimum age to 21 or 25 years. There are also entities, few, that mark the maximum age at 65 years.

How to choose the best personal loan

Commissions and expenses of better personal loans

When you hire a fast loan online you have to look at the interest, especially the APR (Annual Equivalent Rate) that includes the cost of the fast loan, including some opening commission, interest and expenses. That percentage is the one that will determine what you will end up returning and it will be higher or lower depending on the amount and the time it takes to return it.

Keep in mind that in loans with Credit Checker the interests will be higher than in ordinary loans.

A free personal loan?

The free interest-free loan is an option that entities make a claim to attract new clients. It is a quick loan for which you will pay 0 interest . Usually the quantities available with this option are low. Of course, nobody gives anything away and you will have to return that money, but you can save interest and return only the amount of money requested.

Personal Loan Without Payroll Is it possible?

Normally, financial institutions study your solvency and ability to face a debt. They do this to minimize the risk that you will default, which can be dangerous for your stability, since the power of your assets and properties will be at risk in extreme cases.

However, today it is possible to access personal loans with better conditions where you do not need to direct payroll , designed for individuals with the following characteristics:

  • People with temporary employment contracts.
  • Students
  • Self-employed
  • Unemployed
  • Retired

However, by not presenting a payroll, the financial institution needs a certificate that guarantees that you receive an income to know if you will be able to pay your debt, but this proof can be a scholarship, unemployment benefit, retirement , etc.

Is the availability immediate?

Receiving a credit overnight is not the same as taking a week or two. Many easy personal credit institutions advertise the immediate availability of money, but this is not always the case. Financial entities usually work with banks that facilitate entry in a few hours, but for it to reach you that quickly you need to have an account in those banks. As a precaution, keep in mind the 24-hour minimum margin between when the entity grants the quick loan and when you receive it.

How long can it take to repay a personal loan?

It is very tempting to extend the loan repayment to the maximum. Some financial institutions offer from 12 months to 72 months (6 years!), But that implies that you will return very high interests. Our recommendation is that you find the breakeven point and return it as soon as possible. Although the fee will be higher, you will save money.

Ah! Try never to be late in paying the fee. That will go against your credit history.

Early Repayment of a Personal Loan

When it comes to an unforeseen event, many things can really happen that change our financial situation. A clear example is when a health emergency occurs and the person needs to receive treatment or be admitted, but you do not know if the insurance will cover that cost. It turns out that you ask for a loan to be repaid in 12 months and after weeks they tell you that the insurance can cover the cost, but you already have a debt with the financial institution. What to do in these cases?

If your financial situation improved in any way and you see yourself in the ability to repay the loan, you can do it in some companies without any type of penalty. Others, on the other hand, may charge you some type of opening commission. They will give you the option of reducing the payment term or reducing the monthly fee, and you will have to evaluate which one is best for you. Either way, it's best to get out of debt, even if it means paying a little more.

Extensions in Personal Loans

It would be ideal for the previous case to happen to us and pay off a loan because our situation improved. However, there is the opposite scenario in which the date of payment of the fee arrives and we are very tight with money. Watch out! Don't think about stopping paying because this will only prolong your debt.

Many people make this mistake and actually create a spiral of bad debt and interest that is difficult to get out of. Before defaulting and this damages your credit history, it will always be better to notify the company in advance to reach a joint agreement. Normally, entities extend the terms and establish better conditions so that you can finish paying your loan online, adjusting to your current needs.

What paperwork do I need to submit?

Whether a loan is more or less easy to obtain and, consequently, takes more or less time to be approved, depends largely on the paperwork requested by the entity. If you want to change from bank to private lender, you should know that the fastest loans through their website only require a photograph of the ID that you can send from your mobile, an invoice with the current account number and a phone call or video call to confirm all data and conditions . But there are other credits that require the presentation of guarantees, documentation or proof of income by email. Everything will depend on your credit history.

Can I request a personal loan with Credit Checker?

Banks or entities dedicated to personal loans value each client in a personalized way and the answers are consistent. A client with a high ability to repay the loan and who can demonstrate regular income, will obtain a loan more advantageously. On the other hand, if you are part of a Credit Checker file, you will often have to present extra paperwork that can delay the formalization of the loan or a guarantor, who will be in charge of paying in case you cannot cope with it. However, at Taichi Arts we have chosen the best credit offers to repay in months with Credit Checker where being part of a delinquency list is no longer an obstacle.

In cases of special consideration, there are entities that offer better loans referenced to the value of a property, such as your car. The risk of these entities is that, if you cannot return the amount, you will lose that property.

the best online loans

Advantages of Online Personal Loans

Finding the best personal loans online has many advantages if you plan your budget and financial behavior well, among the most common we can mention:

  • Interest rates are fixed, which means that you will always pay the same monthly payment , since your interest rate cannot fluctuate.
  • Although their amount is not as large as a mortgage loan, they allow you to carry out projects in the medium and long term.
  • You can get personal loans without interest if you want to change banks and opt for a private lender.
  • It is possible that they will grant you a personal loan, even if you appear in a delinquent file such as Credit Checker or RAI.
  • By having fixed payments month to month, it is much easier to organize them within your monthly budget .
  • Online personal loans are much faster and involve fewer requirements than if you request them at a bank.
  • You can receive the money in your bank account in a few minutes after your application is approved through the lender's website, avoiding paperwork and long waits.

The best online personal loans - Frequently Asked Questions

⭐️ What amount can I request?

We recommend you request only what you need at that time. Some entities may ask you to justify what you need it for.

⭐️ How long can I repay a loan?

There are entities that offer loans for one month, 12 months up to 72 months, but we recommend you return it as soon as possible. You will pay less commissions.

⭐️Can I request a credit with Credit Checker?

Some entities offer the possibility of requesting loans with Credit Checker, but you must present certain documentation that proves that you can return it.

⭐️In how long will I receive the credit amount in my account?

It can go from less than an hour to several days. Everything will depend on the paperwork that you have to present and the agility of your bank.

⭐️ What is the minimum age to request a credit?

Usually it is 18 years, but some entities set it at 21 or even 25 years.

⭐️ What documents should I present to apply for a loan?

It will depend on your credit history. If it is good, with your ID, proof of current account and payroll will be enough. If it's bad, you may need to submit a lot more.

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