applying for a loan online (BOI)

Sparky

Hi i was just wondering if applying for a personal loan online with BOI loan service is a good idea or should i go in to my local branch.

My credit history is perfect with them, they said it themselves, i have a CC with them thats paid in full every month and my other loan has been paid always on time by DD. The loan amount is for €960 so would you say i would have a good chance of being accepted, only someone told me that the online service does'nt really "know you" where as your local brance does.

Any opinions on this?

BuffyBot

They'll both be put through the same system, so I don't think it would make any difference. Larger loans tend to be referred to lenders, but even at that they wouldn't "know" anything more about you than what you've provided them.

Easily_Irritated

When u apply online for a BOI loan you will have to call into a branch anyway. But if you fire ahead and apply online you'll get a good idea of what limit they'll allow. Altho, branchs are more flexible and if you go into your own branch you'll get more than you're likely to get online.

Sparky

yeah thanks thats good advise alright, it said ive to expect a letter in 3 days, so ill see what happens and ill report to yous to let ya know

shoegirl

There isn't that much of a difference. They have the same information and if you are likely to get a loan inbranch then you'll qualify online also.
Having said that if you've a poor credit history or odd employment situation the branch may be able to help you a bit.

Nuttzz

I would apply online first as they give a 1% discount, from their website below



Variable Personal and Motor Loan APR


Amount Branch & 365 phone 365 online
€300 - €999 10.9% 9.9%

Sparky

well the loan is for a laptop valued at just under €1000 but im borrowing 960 and then putting that on my CC to buy the thing, i got a loan of 800 in january and was approved in 5mins, thats how i know my credit is good, plus i pay my cc bill in full every month with no late payments at all.
So i have a good feeling ill be accepted, just i thought the system of using the online thing would be different, but i understand the thing of the branch giving you more options.
My mam said last night she was turned down by banking365 over the phone once, but our local branch gave it to her, so thats what made me think, but i will see what happens.

halkar

I did that for car loan of 25k, applied on Sunday got a phone call on Monday nicely saying I was approved :eek: got the forms on tuesday signed and sent, money was in my account on Thursday I didn't go to my branch and got the discount rate

Sparky

well i hav'nt got a call yet, but they did say there would be a letter within 3 days

Sparky

Got the money, so all's well and good, instant approval.