Flexible credit

26 Dec

One of the elements we expect from a loan is flexibility, both in the disposition of the capital and in the repayment terms. In this article we will explain what flexible credit  consists of, its characteristics, advantages, disadvantages and how from Bonsai Finance we help you choose a financial product that fits you.

It offers you a first free provision of up to € 500 if you are a new customer and up to € 1,000 if you have already been granted a credit in the past.

You are interested if

You need a certain punctual liquidity for extraordinary expenses with the peace of mind of being able to take the part of money you want without having to change banks, and the one that does not, leaving it there when you do not need it.

Key points

Short description This is a line of credit that allows you to have up to 1000 euros if you are a client of the entity to be repaid in a maximum of 26 months. The difference with classic credits is that you will only withdraw what you consider appropriate within those limits. If you are not a client, you have additional restrictions that you should know about.
Limits and deadlines In the event that you are a  customer, you will have between 100 and 1000 euros to withdraw when you consider it appropriate. If you are not a client, you will have a maximum of 500 euros. The maximum return period is 26 months and the minimum of 3 months, which you can adapt according to your preferences or needs.
Acceptance times The processing of this credit is extremely fast and, once you send the application and request an SMS to validate it, you will have the money in your bank account in 10 minutes in case it is a collaborating entity (if not, 24-48 hours) . This is the advantage of having a company that performs its online activities, immediacy.
TAE The APR of this loan is 208.31% for a new client that asks for a loan of 500 euros to be reimbursed in 120 days. The daily interest rate is 0.283%.
How to hire it The hiring of this product is done online  through the website of the specialist entity, since the entity only operates through this format.
Main requirements To access this line of credit, the main conditions are to reside legally in Spain, meet the solvency criteria that specialist will establish and be between 25 and 70 years old. As you can see, there is not an excessively high level of demand. Yes it is true that, depending on whether you were a client before or not, you can access a greater amount.

Flexible credit: how is it?

Main features

This product is designed for those who wish to have an extra liquidity cushion for small unexpected expenses and who do not want to carry out eternal banking procedures. If you have to make a timely payment, you will not have problems.

The main added values ​​offered by  flexible credit over the others are, in the first place, the fact of not having to withdraw all available money if it is not desired. Secondly, you have to keep in mind that the money will be in your account in a few minutes. Finally, it is good to know that the flexible credit liquidity criterion does not necessarily imply that you have to have a fixed payroll, being a good alternative for self-employed or other groups.

The disadvantages of this financing formula are based, above all, on the age and disposition limitations. For example, you can not opt ​​for credit if you are under 25 or over 70 and in no case will you have more than 1000, even if you are a client with a background. Therefore, it is a product for those seeking timely financing.

How it works

Once you have decided to apply for this credit, you must enter the web page and fill out a form. Afterwards, an SMS will be sent informing you of the consideration once the operation is pre-approved and Flexible credit will contact you to confirm your identity. You will have to respond by sending another SMS to formally approve the request and, only then, will the money be paid into your account.

This credit is fine if you have an average solvency level, otherwise you should not opt ​​for it because the application will be denied. The maximum amount is 1000 euros, but being a medium or long-term refund product does not fall into the category of quick loans.

Main conclusions

The flexible credit offered by specialist is a good product for those who have an acceptable level of liquidity and want to have a cushion for specific expenses. It is not a line of credit for large expenses, and for professional matters we recommend that you make use of other options.

Like most financial institutions, what specialist wants is to ensure payment of the amounts that have been provided. For this reason, in case you can not, you have the possibility of contacting the entity at least 5 days before the due date and request an extension of 15 days.

The company

Thecompany that started operating in 2005 and specializes in the purchase and sale of securities and in the granting of all types of loans and credits. In practice, it works like a conventional bank with the difference that its core   business is exclusively online , without physical offices.