When applying for a personal loan, a series of documents must be prepared to be sent to the financial institutions: photocopy of the payroll, last declaration of the IRPF, deed of ownership of the home, among others. This information will be used by the bank to verify the financial solvency of the applicant and complete the loan contracting process. In addition, we will comment on how to send the requested documents.
What documents should be consulted BEFORE contracting a personal loan?
As with any contracting of a banking product, it is advisable to inform yourself as much as possible. Two documents that serve to inform you before hiring a personal loan are:
- Pre-contractual information sheet (FIPRE): this is what is commonly known as an information brochure. This can be requested at the offices of the entity itself or by consulting the bank manager. Another option is to check the website of the entity. Banks and credit institutions are increasingly betting on digitalization, so you can check the interest rate and fees that apply to each loan online.
- Personalized offer (FIPER) or binding offer: it is the document that collects personalized and more detailed information about the loan in question. The binding offer explains if it is necessary to contract links, what is the commission for non-payment of the loan, the guarantors that are provided (if necessary) … This document is mandatory to be delivered by the financial entity for free as long as the loan you want to request exceeds 200 dollars .
Applying for the binding offer does not require the applicant to contract the loan with the company in question.
A good method to know all the characteristics, conditions and commissions of the loans of the market is to consult a comparator of personal loans and fast credits.
What documents do I have to give to the entity to request a personal loan?
The financial institution will request a series of documents that provide your financial solvency. If the loan is requested with 2 holders, the documentation of both must be provided in the application. The documents that you must have prepared when applying for a personal loan are:
- Photocopy of the DNI / NIE of the applicant.
- A document that proves your income: for example, the last two payrolls.
- Income tax statement for the last fiscal year.
- Deed of home ownership or rental agreement.
- Optional: A copy of the employment contract
- Optional: Extract from bank movements of the last 3 months
It should be borne in mind that credit institutions may not request or register more data than those strictly necessary to carry out the purpose of the loan. If the entity requests personal data that is excessive, it may refuse to provide it, based on Article 4.1 of the LOPD.
How to send the documentation to request a personal loan?
In the case of online loans and fast loans, the procedure for submitting documentation is expedited compared to traditional bank loans. For example, when applying for a personal loan with Lite Lender company, a bank specialized in personal loans through the internet, you can choose the form that interests you most among the following options:
- Upload the documentation directly on the Lite Lender company website when filling out the loan application form. Therefore, digitized copies of the documents requested are required.
- By email indicating the ID number in the subject of the message and attaching the documentation.
- By mail. A messenger will collect photocopies of the documentation at the place indicated by the applicant. This service is free.
If you request a loan from a bank with physical offices, the documentation will be delivered by hand.
How long will it take to receive the loan since I submit the application?
In the same way as in the previous section, online loans and fast loans speed up the time in which the loan is received. Following the example of Lite Lender company’s personal loan, after sending the documentation, the money is received within 24/48 hours if you are already a customer or in 48/72 if you are not already. As for fast loans, the money is received in the account indicated in 15 minutes. On the other hand, a loan requested in person at an office can take an average of 1 week between the time it takes for the bank’s risk department to perform a solvency analysis of the applicant and the deposit of the money into account.