6 great reasons to apply for a loan online

Over the last few years the loan market has changed with many lenders moving to online services, letting you search for the best deal and apply without the need to visit your local bank branch. One of these lenders is Hitachi Personal Finance (HPF) who have been operating online for a number of years and have a great reputation for providing a quality service.

So just what are some of the benefits of applying for a personal loan online? Let’s take a look…

The best rates

Due to their low overhead compared to lenders on the high street, online loan companies can offer some of the lowest rates you can find. Not only that, but there are no hidden fees or rates, which means what you see is what you get. As an example, HPF has consistently offered some of the lowest rates in the market. Their current rate of 4% is available for loans between £7,500 and £10,000 over two to five years, and it’s open to everyone.

Fast approval

Online lenders pride themselves on approving customers fast so they can get the loan as quickly as possible. Typically, you will be approved within minutes, and the money sent to your bank account within 48 hours – in some cases even faster.

Secure application

Security is something that all legitimate lenders take extremely seriously, which is why they invest thousands of pounds every year into making sure all of their web pages are secure. You can be rest assured that entering personal details on your application is 100% safe.

Multiple ways to apply

If you don’t feel comfortable applying online then the majority of lenders also offer you other ways to get the money you need. For example, by phoning the customer service team, who can take your details over the phone and then give you an instant decision.

Quality customer service

Sometimes there are things that you don’t understand, or you might find there is a problem with your loan. In these cases, you need to speak to someone fast, which is why legitimate online loan lenders always have a team of quality customer service staff on hand waiting to take your call. When you’re searching for a loan, make sure to check that the company has a call centre that you can speak to and look on review sites like Feefo to see what other customers think.

No need to leave your house

Probably the biggest advantage of applying for personal loans online is that there is no need to leave your house. Instead, you can do everything from the comfort of your own home with only a few clicks of the mouse, which means you can sit back, relax, and wait for the money to be transferred to your bank account.