Among the most interesting innovations of the network in recent years there is certainly the phenomenon of social lending platforms, that is, the loan obtained through social networks between private individuals. One of these, very well known, is Lender Bank. It is a payment institution, authorized by the Bank of Italy and constantly monitored, which puts loan applicants in contact with lenders, after carefully evaluating the characteristics and reliability of each other.
Here’s how it works and why this type of online private loan is worthwhile.
For lenders the convenience is in transparency and interests
First of all it is necessary to analyze the two different figures: that of the lender and that of the applicant. For the lender there is the possibility to choose the return on the sum lent, the duration of the loan and the risk ratio: you register on the platform, load the money and the sum will be immediately available. The security consists in the fact that the amount that is made available to lenders never comes from a single person, but always to more applicants.
Every month, when the applicant pays the installment, the lender’s account on Smartika increases, also including the interest charged. From this point of view, for those looking for a different form of investment, the reviews are positive.
For applicants low rates and fast request
As regards applicants, on the other hand, they must meet certain requirements, such as an easily verifiable identity, a demonstrable income (no matter if it derives from subordinate, self-employed or atypical work) and a bank or post office account. Furthermore, the applicant must be aged between 18 and 75 and must be resident in Italy.
Once these requirements are met, the actual request can be made, using the simulator on the website. Taking an example of a 5,000 dollar loan request, if you choose to repay it in 36 months without taking out insurance, the installment will amount from $ 151.64 to $ 159.54 USD, with a 6.0% Taeg per 9.6% and a total to be returned from $ 5,531.20 to $ 5,815.59, also including collection costs, Lender bank contribution and commissions.