Tag Archives: personal loans

Consumer Loan Market Is Growing

New York, NY, USA, 2018-Jul-03 — /REAL TIME PRESS RELEASE/ — During last ten years, there were significant investments in the personal loans market. It was possible due to the inflow of capital and innovative technologies, which caused a doubling of the market.

Although, according to many financial websites, originations of personal loans are falling. It started with refusals to borrowers with a credit rating below 600, which didn’t take place since 2012.

Despite the decline in the origination of loans, all other data shows an increase of interest of the borrowers to this bank product.

The market for unsecured loans grew by 10.8% in 2017. And financial analytics are talking now about a great prospect for the development of this market segment.

According to statistics in 2017, 10% of respondents applied for a personal unsecured loan, a greater interest was shown to credit cards (65%) and auto loans (26%).

Banking CEOs are Concerned About FinTech

The lending market has a long history and now it is experiencing one of the most historical phases.

One of the biggest changes became a rapid development of FinTech (financial technologies).

Several years ago banks and other traditional financial structures were skeptical about online loans. Now 81% of banking CEOs are worried about such fast FinTech development.

Such concerns are reinforced by the fact that financial Internet structures have become quite competitive. Applying to a lender online, via a certain website connecting the customers with the direct service providers, the borrower gets a wide choice: unsecured personal loans, same day loans, debt consolidation etc. In addition to this sophisticated credit models and new anti-fraud mechanisms makes online financial services more attractive than banks.

The Most Popular Loans

According to the last statistic data, the most popular loan products are unsecured personal loans and installment loans. These loans are the most convenient and profitable for the borrowers. Same day payday loans are also popular, but they are most often used in urgent cases when money is needed for a short period of time. In such cases, 24/7 loans are more convenient, since it is easy to get and the money is being accrued to the bank account of a borrower in short period of time.

The thing that makes personal loans one of the most attractive types of financial products is its uniqueness. It can be used for any purpose: making a big purchase, paying for a wedding or vacation, etc. However, the most common reasons for obtaining a personal loan currently are:

1. Debt consolidation (35%).
2. Household expenses (19%).
3. Medical expenses (9.9%).

Statistic data shows that the purpose of the loan doesn’t affect the chances of the borrower to get approved.

Summing up, the consumer credit market is experiencing rapid growth. Personal loans are attractive to the borrowers because of the affordable interest rate and quick receipt of funds. FinTech is developing and expanding, thus the number of lenders increases and the borrowers have a wide choice.

OnlineLoans4you – Fast Cash Relief Should You Really Require It

Anything can happen at any point in our life as life is full of uncertainties. The remote of life is not in our hand, we cannot control each and every mishappening. The thing, which can be controlled, is availability of money and predominantly cash.

Payday loans are taken before salary day to meet the credit requirements and short-term cash, which are liable to happen. Due to uncertainties of life payday loans are getting more and more popular day by day. These loans are available in the market with a variety of names, such as check advance loans, deferred deposit check loans or post-dated check loans etc.

The biggest advantage is obviously speed. When it comes to these loans, you actually get your money within 24 hours. You cash is then transferred to your account either electronically or through something such as PayPal if you would prefer and you are done! OnlineLoans4you.com come in handy should that unexpected event occur suddenly and you need cash right away.

Another advantage is anonymity and security. When you have to go to the cash store, you might feel judged, worried or embarrassed, but on the web with payday loans, you will be dealing with only an application form and no people. In addition, the legitimate websites are very secure, thus your information is very safe, though should you be worried about that, you may add an extra layer of security by using PayPal or other modes of money transfer ensuring you never have to divulge your bank account information.

With payday loans online you can get $100 to $ 1500. The interest rates of this kind of loans vary a lot, a good research and comparison of rates between local and online lenders can absolutely give you good rates.

Cash Advance Payday Loans Online Up To $1500 in One Hour. No Fax, No Credit Check – iPaydayCash.com

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The application process takes only two minutes. Once the application is complete an instantaneous decision will be provided, taking a maximum of 30 seconds. When the payday loan has been approved the funds will be transferred to the specified bank account within 1-2 hours.
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