No one is immune to the unexpected. Overnight, we may end up with expenses that we do not expect. If this is your case, you certainly want to find a practical and quick way to solve the problem. A loan could be profitable for you. Besides, some loans are accessible in one day.
The granting of credit: a system governed by law
The bank loan is strictly subject to the provisions of the laws in force. The stringency of the regulations is justified by the concern of legislators to protect consumers from over-indebtedness.
1. The different types of immediate loan
Banks and financial institutions offer their customers a wide range of credit choices. This is the case with mortgage loans and consumer loans. For the point that interests us, we will focus only on consumer credit. This loan can be assigned meaning that the use of the sum obtained is defined in the loan contract. This is the case with auto credit. It can also be unaffected. In other words, you can use the amount obtained as you see fit.
2. The principle: the inequality of the immediate loan
All bank loans are regulated by law. They are subject to basic conditions. Failure to comply with the regulations in force makes the loan contract illegal.
According to article L312-25 of the Consumer Code, no payment can take place between the lender and the borrower, whatever its nature, during the seven days following the acceptance of the loan contract by the borrower. In conclusion, immediate credit is therefore not possible.
Loan obtained in one day: the exceptions
If the law expressly prohibits the application of the immediate loan, certain exceptional cases make it possible to derogate from this rule.
1. Revolving credit for holders of a bank account
Need a fairly large amount in 24 hours? Opt for the revolving loan. The amount awarded can go up to 6000 dollars. To benefit from this offer, you must first have a bank account. Simply put, you must have already opened a credit account before applying for a loan. It is an unrestricted loan. You can dispose of it freely. Most financial organizations, banks and even large brands grant it.
2. Mini-loans for less than 200 dollars
The mini-loan is an alternative solution to revolving credit. Unlike the latter, you are not required to have a credit account to benefit from it. It has two major advantages. Its granting does not require any particular guarantee or justification. You get the money in 24 hours. This loan has some disadvantages. It exposes you to a very high interest rate. The amount borrowed cannot exceed 200 dollars.