Online Loans

An online loan might sound like a convenient way to manage your money, or you might be a bit confused and worried about the processes involved.

The benefits of online loans
Lenders who do not have branches and only offer online loans are generally cheaper than high street banks and building societies. This is because they have fewer overheads and can pass their savings directly to their customers. Some high street banks also offer online loans, which work in the same way. You might benefit from a deal that offers a lower interest rate if you pay your instalments by direct debit and receive statements by email rather than post.
If you have access to the Internet, online loans can be a lot more convenient as well as being cheaper. You can make transactions and pay your bills from home or work, and you can phone the bank if you have any problems. Online loans are completely safe, as long as you don't reveal your passwords or PINs to anyone, including bank staff. When you log on to your account, make sure the website address begins with 'https:' – this means you are entering a secure site.