Why You Should Apply For A Small Loan
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Small online personal loans have become a popular option amongst consumers who need fast cash for a variety of reasons. Small loans are:
A good way to consolidate existing personal debts, rolling many smaller payments into one larger payment that is easier to manage.
Usually able to offer lower rates than credit cards.
Paid off in regular instalments. You pay a set amount for a specific period of time which is easy to budget for.
Easy to find as there is so much information and many options available online.
Normally approved quickly so you get a result fast. The process is easy and generally stress-free.
A fast way to pay for emergencies or large purchases that you cannot avoid.
As with all financial products, there are a few drawbacks to small loans that you should consider. A comparison service like VitaKredite though can provide you with the right advice and a multitude of reputable options, reducing the risk for you.
You are not actually paying down your debt with a personal loan – you are just getting a different type of debt;
High-interest rates are normally charged for customers with poor credit ratings;
Fees and charges can tally up quickly, meaning you could pay far more than the actual loan principal in the long
The number of online lenders out there means there is more opportunity of getting scammed.
There are so many different types of loans out there that it can be hard to know which option to choose for the situation you find yourself in. However, with all of these different features and offers to consider, there is one aspect of loans that remains consistent no matter the loan type or lender: you borrow money and make regular repayments over a specific period of time, including fees, charges and interest. Being approved for a loan gives you access to money when you need it most. Due to their popularity, the terms and conditions of most small personal loans are relatively straight-forward and easy to understand.
If you feel a little overwhelmed by the number of options out there and aren’t sure which loan type is right for you, ask yourself the following questions:
How much can I afford? It is smart to be prepared and be aware of exactly where you stand with your finances. Have a weekly budget or keep track of your spending and expenses. This will help you understand how much or how little disposable income you have in case of an emergency.
How much money do I need to borrow? Applying for a little extra may be tempting, but it’s an easy way to pay interest charges that you really don’t have to. Stick to your calculations and only apply for the exact amount of your purchase.
How long do I want the loan for? If your budget allows it, always opt for a shorter loan period. This will ensure you do not pay additional interest or monthly charges. A longer loan period can look enticing as the monthly repayments will be less, but a short term loan is always cheaper in the long run.
Do I need the option to access more money? VitaKredite’s lenders only offer fixed amount secured loans. If you think you might need access to more funds you will only be able to by taking out a second loan. If you need the option of refinancing, it may be better to go through a bank or a line of credit with an overdraft feature.
There are a few things that you will need to provide us with before you can apply for a loan. Be sure that you have these items ready so that your application is quick and easy:
Internet banking details
Gov account details
Information about your asset (this could be your car, motorbike, caravan or boat)
As VitaKredite is not a lender itself, we do not perform the application assessments. However, most lenders will need proof of the following before you are approved for a loan:
18 years or older
100 points of identification
Australian citizen or permanent resident
Receiving a regular income for the last 90 days
Have a valid mobile number and email address
VitaKredite Loans in amounts ranging from CHF 1,000 to CHF 250000.
You can trust that all loans found through VitaKredite’s lender-finding service are legitimate, reputable and reliable. We only partner with the best that Switzerland has to offer. VitaKredite is not a payday loan service. The purpose of our loan amounts and terms is not to make ends meet between paydays, so you can be sure that we are genuinely here to help. We’re ready to find you a lender that is ready to give you a fair go.
Finding a small loan with VitaKredite is completely free and Switzerland-wide. We strive to be the only personal loan comparison site you’ll need. Our application form should take just minutes to complete and is done 100% online.
Step 1: Apply Online
Have all necessary documentation handy and complete the form fast. Choose your amount and loan duration and the magic begins.
Step 2: Meet Your Match
We will then present you with a comparison of personal loans straight away, working hard to match you with the right lenders. Once you have selected your lender, we will send them your application.
Step 3: Find a Premium Loan
Your lender will then assess your application. If you’re approved, you should receive the cash straight into your nominated bank account.
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Frequently Asked Questions
Frequently asked questions
01 How long can I borrow the money for?
You may choose a Personal Loan term ranging from half a years (6 months) up to seven years (84 months).
02 What is the difference between a loan and a line of credit?
A loan is an amount of money that you borrow for a specified length of time. You receive a one-time, lump-sum that is paid down through fixed monthly payments with a fixed rate and fixed term. A line of credit is a borrowing limit extended to you. The funds are available to you up to a pre-assigned credit limit and you have the ability to re-use your line of credit as you repay. Your monthly payment will be based on the amount of the line you have outstanding.
03 What is the difference between interest rate and APR?
The interest rate is the cost to borrow money from your line of credit. The APR (annual percentage rate) adds in some of the upfront costs of getting the line of credit in addition to the interest, including any lender fees. Santander does not have any upfront fees so the APR and the interest rate are the same.
04 Are there any origination or prepayment fees?
No, VitaKredite products have no origination fees, closing costs, or prepayment penalties.