Probably nobody is unfamiliar with this term, which refers to a very specific type of loan. We talk about the pre-granted loans. But, you know exactly what they are and how to use them. From Lenders we want to explain everything to you. Go for it.
What are pre-granted loans?
It is likely that when you check your internet transactions after your banking transactions, a message emerges at some point as a pop-up window that tells you that you have a pre-agreed loan. These loans are usually around € 3500 and are offered to those clients with whom a certain relationship is maintained . For example, have a checking account with regular movements, the payroll in a specific bank, or have contracted certain products with them.
As a general rule, pre-granted loans are offered to clients who demonstrate economic stability in their movements. The amount they offer is usually a little lower than what can be obtained with consumer loans and range between € 2,000 and sometimes very special can reach up to € 20,000.
They work in a very similar way to the credit of a company. The difference lies in the way of returning them and the fact that they are linked to domestic consumption. As a general rule, an amount is offered that, depending on how it is used, has to be paid back.
Can pre-granted loans be denied to clients?
As a general rule, the financial institution with which you work will be responsible for offering it through advertising. This happens when you consider that you are a client with a well-proven economic stability. That is to say, that this type of loans are usually announced to those clients that the financial institution on duty considers creditworthy for having made a prior analysis of their profile.
Therefore, if the entity in question offers them to you, it is very difficult for you to later refuse its use. However, until the contract between the two parties is signed, remember that nothing is certain.
What are the advantages of pre-granted loans?
Undoubtedly the main advantage of this type of loans is the ease offered by the entities when hiring them by the client . As we have explained a few lines above, the bank only offers these loans after having reviewed the client’s history. This review usually consists of:
- Check if the client in question has contracted more than one product with the financial entity that offers it.
- The amount of income you have and how much you get each month.
- If you have all payments up to date.
- If it is not registered in any delinquency file. As for example Asnef or RAI.
Once the policy is requested and signed, the normal thing is that in less than 48 hours you have the requested money in your own checking account.
Another advantage is directly linked to the interests . Although they are loans with relatively high interest, the truth is that these interests are lower than those that can be charged for using a credit card.
What are the disadvantages of pre-granted loans?
The disadvantages are simple. The first is very clear: this type of loans are offered to people who demonstrate a broad economic solvency . Normally, loans are requested when such solvency is not available or an economic slump occurs. Therefore, they are being offered to clients who may not need them.
The other great disadvantage is that to be able to enjoy them you have to be a client of the financial institution that promotes them . In fact, pre-granted loans are usually a benefit for the clients of this or that bank.