The economic crisis brought many consequences, among which is the increase in the application for quick loans (mortgage, personal, cars and quick loans). This has led to higher interest rates and some considerations have to be taken before venturing into this financial product. that’s why you should know what is the ideal debt to get fast loan .


Conditions when requesting a quick loan

If you are thinking of applying for a bank loan , you should know that there are certain conditions established by financial institutions for the granting of quick loans . The general requirements are:

  • Labor stability, which refers to constant liquidity and no risk of work stoppages.
  • Savings capacity
  • Solvency contrasted through time.
  • A level of indebtedness that does not exceed 40% of the worker’s income.
  • Give a good destination to the loan, guaranteeing its return within the committed deadlines.


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Advantages of requesting a quick loan

– More flexible criteria

Although some of these demands may seem somewhat rigid, when applying for a quick loan the requirements are relaxed, giving access to even groups that are excluded from the conventional loan market. It is enough to comply with:

  • Reside in Spain.
  • Have a mobile phone
  • Economic solvency. As in the case of loans in general, an ideal debt percentage is required that does not exceed 40% of the total income of the applicant.
  • Be the holder of a bank account.
  • No guarantee is required.


– Celerity

Another advantage of a quick loan is that it can be conveniently requested online, which gives greater immediacy to the approval of the application (after going through the risk filters). The average access to money is 15 minutes although it is possible to receive it in up to 10 minutes.


– Good handling of personal information

Quick loans are usually not as intrusive in the client’s private life as are general loans . When requesting them, it will not be necessary to provide all the personal data required by the bank, but only to prove a minimum of reliability that guarantees the return of the money.


Why consider an ideal debt percentage for quick loan?

It is important to make this calculation before assuming a new financial commitment, since this way you will avoid that your debts exceed your possibilities of payment. Before making a decision, it is necessary that you draw personal accounts and thoroughly analyze what is the annual amount with which you can settle the loan without being exposed to difficulties. There is a formula that will be very useful when making these calculations, and it is: 0.30 x (where x your annual net remuneration minus the annual payments that you must make to cover other obligations).

The desirable thing – so that you are calm and alive with some slackness – is that the amount to pay for your loan does not exceed 30% of the annual amount of your salary, although the banks recommend that this is not greater than 40% of it.

Requesting a quick loan can be of great help when it comes to solving specific problems, such as repairs, unexpected expenses and even a well-deserved break. Of course, for the experience to be 100% satisfactory, you must be responsible when analyzing your ideal debt percentage, so that afterwards you will not be overwhelmed in fulfilling your obligations. Assuming debts responsibly is safe and useful, so make sure your efforts are fully aware to avoid bad times.