Loans online

What is an Online Loan

An online loan is a type of short-term microcredit that differs from classic bank loans in the size and method of interest rate calculation (interest is accrued for each day of using the money), as well as a significantly lower borrowing amount. To apply for a card loan online, a minimal package of documents and a PC or smartphone connected to the Internet are required. The entire application process takes no more than 20 minutes, after which the funds are automatically credited to the borrower's payment card.

Where to Get an Online Loan

To take out an online card loan, you can independently find and select a credit organization, which takes a lot of time and effort. Alternatively, you can use a simpler and more reliable method — select and apply for a loan using the Portmone.com payment service.

Our website features only the best and most reliable microfinance companies (MFOs) in Ukraine, which offer the most favorable terms for borrowing funds. Here you can also find all the necessary information about the loan issuance conditions, as well as subscribe to updates, which will allow you to receive notifications about advantageous offers and promotions to your email.

Advantages of MFOs over Banks

Compared to bank loans, online microloans on a card from MFOs have several advantages:

• the application process is online, and the decision-making process is mostly fully automated;
• there is no need to provide guarantors or confirm income;
• it is possible to apply for a small amount for a short term, whereas the minimum term for obtaining a bank loan is from 30-60 days;
• a high approval rate, as microfinance companies are more loyal to borrowers;
• high speed of decision-making and disbursement of loan funds to the card;
• the possibility of applying for the first microloan on special terms — from 0.01% per day;
• in case of financial difficulties, the borrower can use the prolongation service and postpone the principal repayment date by paying only the interest accrued for the actual days of using the borrowed funds.

Furthermore, MFOs regularly provide promo codes that allow taking out a cash loan with a significant discount.

TOP Online Loans

We constantly monitor the financial market and analyze numerous parameters of microcredit organizations to offer you only the best loan offers. Currently, our TOP 10 MFOs where it is best to take an online loan include the following companies:

• Money4You — decision within 5 minutes, prolongation service available, and early repayment without penalties or additional commissions.
• CCloan — low interest rates and long loan terms, no need to provide income statements, collateral, or guarantors.
• Selfie Credit — 24/7 support availability, instant registration by photo, and a beneficial loyalty system.
• Credit7 — simple and transparent lending conditions, decision in just 7 minutes.
• Miloan — high loan issuance rate, 100% online process, and the possibility of loan prolongation.
• Moneyveo — instant decision and transparent loan issuance conditions.
• CreditKasa - loans for any purpose without collateral, guarantors, or income statements.
• Kachay Hroshi (Download Money) — decision within 5 minutes, wide selection of repayment methods.
• Zecredit — loyalty program available and the possibility of online loan prolongation.
• BananaCredit — simple and fast application, prolongation, and favorable lending conditions.

Conditions for Online Card Lending

Each credit organization has the right to set its own lending parameters, but on average, the conditions of MFOs presented on the Portmone service are as follows:

• loan term — up to 25-30 days;
• amount — from 5,000 to 150,000 UAH;
• interest rate — around 2% per day.

At the same time, most companies offer new clients the opportunity to receive the first microloan to a card on preferential terms — at only 0.01%. This is done so that the borrower can test the convenience of online loans without risk to their wallet.

Taking a Card Loan through Portmone

To urgently take out a card loan using Portmone.com, the service user must perform a few simple steps:

1. Select the organization with the most attractive loan issuance conditions from the presented list of MFOs and click the "Apply" button.
2. The system will automatically redirect the user to the credit organization's website, where they need to log in to their personal account or register.
3. Specify the desired loan amount and term.
4. Fill out the application, specifying personal information (Full Name, registration/residence address, place of work, and income).
5. Submit the application and await a decision.
6. Upon a positive decision, you will only need to enter your payment card number and confirm the loan application.
7. Receive the funds to the card.

In most cases, the money is transferred to the account within a few minutes, but in some cases, it may take several business days. The crediting time depends on the processes and procedures for crediting funds used by the issuing bank within its financial activity.

What Documents are Needed for Online Loan Application

Currently, to take out loans in microfinance organizations in Ukraine, there is no need to collect a huge package of documents. It is enough to provide:

• an ID card or passport confirming Ukrainian citizenship;
• taxpayer identification number.

Moreover, in most cases, it is enough to provide only the data from these documents, but sometimes the credit organization may additionally request their scan copy or photograph. Furthermore, the creditor may request additional documents, such as a driver's license or pension certificate, vehicle registration certificate, or income statement, provided they are available.

Also, for applying for a microloan in Ukraine, you will need:

• a payment card to which the loan funds will be transferred (it is extremely important to use a card that belongs specifically to the borrower, otherwise there is a risk of refusal);
• a mobile phone and email, which are used for communication and authorization on the creditor's website.

Some MFOs also ask for a photo, but there are enough organizations on the market that are ready to provide money without one.

Requirements for Borrowers

MFOs presented on the Ukrainian market set the following requirements for borrowers:

• age — from 18 to 65 years (some companies are ready to lend to people up to 70-75 years old);
• Ukrainian citizenship;
• availability of a bank card and mobile phone;
• receiving a stable income.

It should be emphasized that both officially and unofficially employed citizens, as well as pensioners, students, and persons on parental leave, whose income is sufficient to repay financial obligations, can use the loan.

How to Increase the Chances of Getting a Card Microloan

MFOs guarantee a high percentage of application approvals; however, sometimes loan funds may be denied. Most often, this happens due to one of the following reasons:

• errors were made or false information was provided when filling out the application;
• the borrower's documents are listed among stolen or lost ones;
• the bank card for crediting funds is expired or does not belong to the borrower;
• the age does not meet the requirements of the credit organization;
• there are current arrears on active loans in other financial institutions.

To increase the probability of obtaining a loan, it is recommended to:

• provide only truthful information about yourself;
• ensure that the bank card has not expired and that there are no restrictions on conducting online payments;
• contact the CBI (Credit Bureau of History), perhaps you have closed loans whose information has not yet been updated in the Bureau — in that case, it is worth waiting a while and submitting the loan application later.

If you receive a refusal, do not rush to submit a new application. It is better to wait a few days, and then try to resubmit the loan request.

How to Properly Choose an MFO in Ukraine

To avoid problems and not worsen your financial situation, it is recommended to apply for a card loan only with verified and well-established microfinance organizations. To do this, before applying for a loan, be sure to pay attention to the following points:

• MFO Reputation — check for the registration certificate and take the time to look for reviews from real customers online.
• Presence of Hidden Fees and Payments — for this, carefully review the sample loan agreement, which can be found on the creditor's website, for the presence of additional payments, one-time commissions, etc.
• Repayment Methods — prefer companies that offer at least several ways to repay the loan. This eliminates situations where funds must be deposited only at the company's office, which may be hundreds of kilometers away from you.
• Availability of Comprehensive Contact Information — ensure that the MFO's website has hotline numbers, an address, and an email. Prefer companies that offer 24/7 support.

And finally, before applying for a loan, soberly assess your financial capabilities, and if you doubt that you can repay the money, it is better to refuse the loan application.

Why it is Profitable to Take Loans from Different MFOs

Many microfinance organizations represented in Ukraine issue the first loan for new users on special preferential terms — at only 0.01% per day. If you take advantage of this opportunity and apply for new loans with MFOs whose services you have not used before, you can use the loan funds practically free of charge. Thus, you will not only be able to test the lending service in various MFOs but also save the family budget. Furthermore, unique promotions may be active in different MFOs, allowing you not only to apply for an online loan with a discount but also to participate in various prize draws.

Where and How to Repay a Microloan Online

Using Portmone.com, you can not only apply for but also repay a previously taken loan. To do this, you will need to:

1. Go to the "Service Catalog" and select the "Loans" section.
2. Find the necessary credit organization whose loan needs to be repaid.
3. Enter the phone number or loan agreement number, and then click the "Pay" button.
4. Specify the email and details of the payment card from which the funds will be debited.
5. Click the "Pay" button again and confirm the debiting of funds from the card using the method offered by your bank.

Immediately after the transaction, the payment receipt will be sent to the specified email. Registered users can also find it in their personal account.

What Happens If You Don't Pay the Loan

In case of untimely loan repayment, credit organizations apply penalties, the size and procedure for calculation of which can be found in the loan agreement. We recommend reviewing this before signing the agreement.

If the borrower continues to ignore the demand to repay the debt and pay the penalty, the creditor may apply to court and recover the money through legal proceedings. Furthermore, data on such a borrower will be transferred to the Credit Bureau of History, which will negatively affect their credit rating and complicate obtaining new loans in the future.