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Why Financial Organizations Are More Popular Than Banks?

When it comes to loans, a customer faces the difficulty of choosing the creditor. There are two options: contact a bank or visit financial organization’s website. Today, the second option, a financial organization, has become enormously popular. We conducted some research and found out why these organizations are so much-loved and how they differ from banks.

Reason 1

Financial organizations have been proven to work 83% faster than average banks. It takes around 20 minutes to fill out the application and receive money in your account. The reason for such a result is the fact that, unlike banks, financial organizations do not provide other services common to banks, such as currency operation, nor do they accept cash deposits from the public. Therefore, they pay their full attention to loans and select the most convenient and advantageous rate for the clients.

Reason 2

As a rule, financial organizations operate with small amounts of money. This type of loan (so-called, a personal loan) is convenient when you need funds right now and you do not want to wait the payday. You do not have to wait in lines and interact with consultants anymore. According to the customer survey undertaken earlier this year, these are compelling points when selecting a creditor.

Reason 3

Financial organizations willingly offer loans to applicants who have had little or no time to build a credit history or who may have experienced some pitfalls and now have a bad credit history. Meanwhile, banks prefer not to work with such clients.

Reason 4

Clients are turned down for loans from banks more often than from financial organizations. Organizations approve twice as many applications than banks. For this reason, customers do not even have to spend time submitting an application to a bank, and waiting for its decision; they can submit to the organization directly. It is done even faster via the Internet.

Reason 5

Financial organizations provide their services online and do not make you go through red tape. They check your credit history themselves. Generally, all they require is your CMND or CCCD.

Reason 6

One thing that turns thousands of clients away from traditional banks is how picky the banks can be when it comes to lending money. Banks use a far more rigorous method of approving the loans their customers apply for, and in many cases will not hand out any money without collateral first. Financial organizations do not ask you to provide collateral to receive a loan and approve loans more easily. Our clients say this fact gives them a good sense of safety, as well as a high degree of comfort.

As you see, that two financial structures are radically different. The advantages of financial organizations are quite obvious but why not you try yourself?

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Sampath Ratnayake
Editor
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