Today it is quite easy to complete a loan process and usually requires a few minutes of your valuable time. However, it was not so long ago that you need to visit a bank, book with an official and then discuss the loan itself.
In other words, it was much more cumbersome compared to how it is today, and luckily it is because we can usually be notified about the loan within a few hours compared to before, where it could take several weeks. Through technology, we have also been able to more easily compare different loans, which has given us even greater advantages in the fight with the banks and their interest rates. The key is to avoid the most expensive loans.
Today, you have two opportunities to make loans, either on the web or through the traditional way we discussed in the beginning, namely to visit a bank. Which of these you choose simply depends on your personality.
Usually, older people who are less tech-savvy tend to visit a physical bank, while younger people usually settle for everything in front of a computer without the involvement of an external party.
General Basic Requirements
There are a number of basic requirements that must be met in order to have the chance of a loan at all. To begin with, you must have a fixed form of employment, regular income, a certain minimum annual income, no payment remarks and that you have a Swedish citizen status.
These are the basic requirements that will open most doors when it comes to loans. But as you will learn below, there are different types that may not always require you to meet all of these premises listed above.
Application at the Bank
If you choose to make a loan application at the bank, you simply visit the bank and explain what you want to get done. Depending on the temporal aspects of your particular bank, you can either get help directly or have to book a time with a clerk and come back the next weekday.
Once you sit down with your specific manager, they will go through your finances and create a loan calculation, which is based on all your financial parameters such as existing loans, cash and cash equivalents, savings, etc.
Anything that can affect the loan either in a negative or a positive sense will be included in the context and guide the final calculation. When the administrator considers that they have received all the necessary data, they will decide whether you can get a loan or not.
If you are granted a loan, you will be able to sign the contract together with other legal documents that simply ensure that you understand how much you are borrowing and what the different loan terms are for your particular contract.
Apply on the Net
The other side of the coin, namely applying online is much smoother and faster as well as offering many more different choices. What you need to do briefly is to find a player that you believe you can get a loan from. Then just enter the URL of the operator’s website, follow the application process and sign it all, in most cases with some form of digital BankID.
If you are not familiar with BankID, it simply works as a form of digital ID card with signing. In other words, it can be likened to signing a loan contract with the presentation of their driver’s license or the like.
Because the network operators work much faster because of. because they rarely work with tasks other than just processing loan applications, they can in most cases inform you whether you will be granted money or not within a few hours, but in some cases the next weekday. Therefore, it doesn’t take many days for you to get a response.