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Today it is possible to get a payday loan faster than ever. With our service, you can request instant online loans with guaranteed approval in just one click. You will only have to fill out a simple questionnaire, wait for a response and receive the money in your account in a matter of minutes. Everything 100% online, secure and transparent.

An online loan with guaranteed approval is a very popular financial product, which is mainly characterized by its immediacy and simplicity. You can request them through a simple online questionnaire and receive an immediate response, thanks to the automatic programs used by lenders to analyze your loan application.

These types of loans have similar conditions to fast loans or instant loans. You will not be able to request very high amounts of money, the return period is around 30 and 45 days and they carry a higher interest rate than the rest of the loans. In addition, they emerged to help users get a loan faster than ever in the event of an economic emergency.

Characteristics of payday loans

These types of online loans offer us greater flexibility when making the payment of your return. And it is that among its main characteristics is the possibility of allowing us to request higher amounts to be returned in installments .

Therefore, this type of financing will allow us to determine the interval of the repayment period that most interests us, being able to choose to contract a short or long-term loan , depending on the amount requested and the state of our finances.

It is also a type of financing that guarantees us the monthly payment of a certain amount with a fixed interest rate, which will prevent us from having to suffer variations in the final amount of the monthly installment that we have to assume.

In addition to these characteristics of this type of financing, loans to be repaid in months also meet the characteristics of many online credits, such as: their immediacy, the fact of avoiding paperwork, or the option of obtaining loans regardless that we are in Asnef, we do not have a payroll, or we do not have any type of guarantee.

Without a doubt, online installment loans are an opportunity to obtain the financing we need with hardly any paperwork and all the facilities so that we can comply with your return.

The main characteristic of credits to pay in installments is that we can make the payment of your return in several installments or monthly installments. Although as a link all the payday loans coincide in facilitating their reimbursement, we can differentiate different types of credits depending on the amount and the repayment time they offer us.

Below we detail the main types of payday loans and their main characteristics:

personal installment loans

Personal loans are usually used to carry out work or private projects for any purpose. This type of financing also offers us the opportunity to obtain significant sums of money that we can return in months.

  • We can get amounts from 2,000 to 40,000 euros to carry out personal projects,

  • They allow us to return the money in installments from 36 to 96 months.

Loans with guaranteed approval

If we are interested in requesting this type of credit, such as home equity loans or loans in which we deposit our vehicle as collateral , it is necessary that we are the owners of the assets that guarantee us.

  • Home equity loans offer us up to 60% of the total value of the home,

  • They allow us to return the money in installments up to 20 years,

  • The loans in which we use a vehicle as collateral, the amount that we can obtain will correspond to a percentage of the value of its appraisal and allow us to make your return in installments up to 36 months.

If it happens that you do not have properties or guarantors capable of guaranteeing your ability to pay, you may be interested in resorting to loans without collateral , another type of financing that will also allow us to contract a repayment in installments.

Credit cards

Credit cards allow us to use a certain amount of money whenever we want at any time.

  • Credit cards allow us to return the money in installments,

  • We can get amounts that range from 5,000 euros,

  • The financial market offers us a wide variety of credit cards adapted to our needs.

And now also mini-credits to be repaid in months:

These are fast online credits that offer us more than 30 days to make your return.

  • From 300 to 1,000 dollars to be returned in installments,

  • To return from 60 days to 26 weeks,

  • Online credits offer us the money we need without requirements or paperwork,

  • We receive the money transfer instantly.

We recommend that you evaluate all the loans within your reach, always without forgetting to pay attention to the conditions of a loan before contracting it .

How to request a loan to repay in installments?

If you are thinking of requesting one of these credits and you have doubts about the procedures that you have to follow, then we will explain the steps that we have to follow when managing an online installment loan application .

To begin, we recommend that you analyze and compare the financing conditions of the different credit institutions. Once you decide which company interests you the most, you can access its website and start the simulation process in which you will have to indicate the amount you need and its return period , and after which we can check the associated expenses and interest.

In the case of being satisfied, we can access the application form in which we will have to indicate our personal and bank data required by the company to analyze our solvency capacity.

As soon as the entity resolves our request, we will be informed about it . Although these are usually immediate responses, the final response time will depend on each entity.

In case of approval, we will be asked to verify the data of our application by sending documents online, or accessing online banking. Before receiving the money we will have to return the contract with our signature to the entity, after which the company will transfer the agreed amount to our account immediately .

How soon will we have the money?

Although the time interval that elapses from the submission of the application until the money is deposited varies from one entity to another depending on internal criteria, it is common to find lenders that verify the application at the time.

One of the characteristics of online instant payday loans is their ability to respond at the moment .

And it is that this type of financing is aimed at customers who urgently need the money, regardless of whether they are interested in making their return in monthly installments.

We usually talk about instant responses after submitting the request. In situations in which the entity requires the sending of certain documents, this period can be extended until the entity decides whether or not to approve the operation.

Once the approval of the request is confirmed, the deposit of the money is immediate, being able to enjoy the money in our account within a period of between 24 and 48 hours.

Instant Payday Loan woth Guaranteed Approval requirements to repay in months

The requirements to request a loan to be repaid in installments will be more or less restrictive depending on the type of loan in question. Below we detail the requirements that most lenders that grant long-term loans agree on :

  • Age of the applicant : to request a loan to be repaid in installments, we must meet the minimum and maximum age required by the lender. The usual thing is that the minimum age range is established from 18, 21 or 25 years, and the maximum accepted age range is established from 60 to 75 years,

  • Spanish residence : it is necessary to have residence in Spain to be able to access any type of installment loan,

  • Minimum demonstrable income : to have access to any type of credit in installments we will have to demonstrate our solvency capacity. For this, it will be necessary to prove a minimum fixed income that ensures that we will be able to face the repayment of the loan,

  • Being in Asnef or other delinquent files : for some companies that grant loans in installments, that our data does not appear in Asnef will be a necessary requirement to take into account our loan request. Other entities, on the other hand, will not consider it a problem that our data is registered in default files.

In relation to the contracting of credit cards, some banking entities may require us to open a current account or direct our payroll with them.

The application requirements that we will have to meet to have access to installment loans will depend on the characteristics of each type of loan and the internal policies of the company that grants it.

What documentation do I need to submit?

As we mentioned before, it may happen that some entities ask us to justify some of the data provided in the online application form.

In this case, the usual thing is that we have to document our identity by presenting the DNI or NIE. It is also common to have to justify the income we receive , and that may vary depending on the situation we prove: if we are self-employed, employed, pensioners, unemployed, etc.

Another request from companies is that they ask us to verify the status of our accounts , for this they may ask us to provide access data to our online banking, or present a bank statement with the latest movements.

Although it is merely a question of verifying that we comply with the conditions required in their policies, to grant us the financing that we request, it will be convenient not to delay this process if we urgently need the loan.

When to apply for a loan to repay in months?

Installment loans are associated with large amounts of money that we cannot repay in a single payment , as is the case with mini-credits.

The cases in which we resort to this type of financing are associated with large sums of money that we need to return in installments .

The payment of the credit in installments makes a more comfortable and flexible return possible, which, however, generates more interest as it is prolonged over time .

Therefore, we may or may not be interested in requesting a loan in installments, depending on the use we want to give the money, our economic situation and priorities when it comes to obtaining financing.

How much time do we have to return the money in installments?

Payday loans with guaranteed approval establish the number of installments based on the amount of money we request and the conditions of each lender.

In this way, we will have more or less time to make the return depending on the type of credit that we request .

For example, if we request a quick loan of up to $2,000, the return period that we will have to make your return will be a few months. If, on the other hand, we request a personal loan for an amount of up to 40,000 euros, we could have up to 36 months to make its return.

Payment protection insurance for payday loans

Payment protection insurance for payday loans assumes the payment of part or all of the installments of the loan that we insure, in cases in which situations of unemployment , temporary disability or even death occur .

The choice of whether or not to take out payment protection insurance when we request an installment loan is a personal decision that we must ponder depending on our personal and economic circumstances. Sometimes it happens that it is the financial entities that grant us the loan who link this type of insurance to contracting the credit without providing sufficient information.

For this reason , it is recommended that, in the case of contracting a payment protection loan, we pay attention to all the details of its coverage included in the insurance policy. Only in this way can we avoid taking out insurance that we do not need, or whose protection qualities we do not know.

We can expand more content and information about Payment Protection Insurance for loans in our Blog.

Cost of payday loans

The final cost of an installment loan will depend on its commissions and the interest rate applied. Therefore, to help us make the decision of which loan is most recommended, we must not only look at the minimum TIN set at 5.50% (Nominal Interest Rate), but we must also pay attention to the APR (Annual Equivalent Rate) in which includes the applied interest plus all commissions .

It is also essential that we advise ourselves on the possible commissions that may be associated with contracting an installment loan:

  • Study commissions linked to its approval,

  • Opening commissions and formalization expenses,

  • Commissions for early cancellation of the loan,

  • Commissions for late payment due to delays in payments.

Although the total cost of a loan to be repaid in installments depends on the conditions set by the lender at the time of contracting, we will assume the payment of the interest that we generate until its amortization.

Not all long-term loans offer us the same amounts of money or the same conditions. These would be some examples of installment loans that we can have: personal loans, project loans, bank loans, or loans with collateral .

All of them, installment loans with their own characteristics and specific conditions that coincide in the flexibility of the payment of their installments.