The existing competition between the lenders that operate through the internet is so fierce that some of them have offers of interest-free loans for new applicants, in order to make themselves known and thus attract new customers.
They are 100% free credits and where no interest rate or commission is applied since they only aim for the consumer to know how fast and easy it is to get an online loan, thus ensuring that when that person needs money again they will go back to they.
The interests only apply to them from the second and successive requests so if you have never asked for a loan, take advantage of this type of promotions, only having to return the same amount they gave you.
How can fast loans be applied for without interest?
The process is very simple: You choose from the list that I have created the loan product that best suits your needs and click on the visit button.
Then, on the official website, follow the steps indicated, filling in information such as the amount of money you want and the time you want to return it.
As your first application and if the offer is still valid, you will see a virtual or similar calculator that tells you that the commissions are zero and that you only have to return the same amount of money that they have lent you.
Then fill in the form with your personal information and in some cases they will ask for economic data (to make sure that you are a reliable applicant and that you will not have problems to return the credit in the indicated time). In all this process you will only take 4 or 5 minutes.
Once they review the application they send you the money immediately, if you work with the same bank as them, the money will appear in your account instantly and if not, it could take between 24 and 48 hours according to the current bank regulations in Spain.
I know some people may find it complicated but in reality the lenders are guiding you step by step and it is quite simple. Even people with very little knowledge of the internet can make the request without any problem.
Due to bureaucratic issues, some companies may request you in scanned form documents such as your ID, copy of the first page of the bank card or copy of your payroll or receipt of regular income (you can take a photograph of these documents with your mobile and send them to them).
What are the non-interest credits that exist in the market?
I have selected those financial entities that offer quick credits without interest, that is to say with a zero or almost zero cost (some entities set a symbolic cost of 5 euros ) for new clients.
The advice is that you do not fall into the temptation of asking for different credits at the same time because although you will not pay anything in interest, you have the obligation to return the amounts of money borrowed on the date indicated because in case of non-compliance of that obligation you will see yourself in a much worse economic situation than you had before ordering them.
What happens if I do not repay my first interest-free loan on time?
The free fast loans that are achieved at zero cost are governed by the same regulations as others that have incorporated commissions or fees.
You have to return them in the time indicated (usually within a maximum period of 30 days) and if not, the lender will exercise the measures contemplated in the contract: Surcharge for delay in the return of principal and may even propose you to include yourself in a list of defaulters as ASNEF.
Act in a responsible manner and do not request money on credit unless you have planned in advance that you will be able to return the money on the indicated date.
What are the requirements that require you to meet to request a 0% TAE credit?
The requirements that will ask you to approve a credit without being charged a single hard, are very basic and easily meet by all.
- Reside legally in Spain
- Have the DNI or NIF in force at the time of the request
- Be of legal age (usually require over 21 years)
- Some require justification of income as payroll, pension or unemployment
Do fast credits have no trick?
We must distinguish between online loans offered by companies such as Vivus, Ferratum or any other of the ones listed in the previous list of those “promotions” of traditional banks in our cities where they offer loans at 0% interest but that do they have expenses or commissions for opening, so in reality it does have an economic cost.
Here really what we are talking about is that type of microcredits that can only be purchased online and with a desire to attract new customers, offer small loans, usually 200, 300 or 400 euros and with interest at 0% APR and thus attract new clients in order to retain them and be repeat clients with that financial entity.
The conclusion is that the granting of a quick loan does not have a trick because the return costs are € 0 with the warning that only applies when applying for the first loan, applying commissions to the successive minicréditos that are requested.
What can the money of an interest-free loan be used for?
Traditional banking requires you to explain in a documented way what you are going to use the money on credit that you are requesting, instead the online miniprestramos collected in the comparison of this page DO NOT ask for any explanation or ask you what you are going to spend the money.
According to the studies I have carried out, this type of request is usually used to get out of an economic hurry, such as repairing an appliance, paying the dentist’s bill, buying glasses or repairing the car.
But as you can imagine, the reasons why they request this type of quick loans without interest are the most diverse: Pay for the summer holidays, face the Christmas expenses, make a gift for the father’s day, from the mother, etc.