The online financing companies are of different categories;
* Mutual funds
* Investment trust and alike.
They usually perform functions like lending, banking, mutual funds investment and many other functions. Online companies used to have their own websites where prospective client can contact with them and also can check their provided functions.
Online financing companies gives more benefits as compared to conventional finance providing companies. These are helpful in many ways like less fees, latest financial condition, and coverage of large variety for financing, convenient way of deal. Unique ID is generally requirement of online financing companies for online account. Often companies also have application forms online to be filled up by applicant and decision to provide finance depends on it.
Performing worldwide online financing companies are;
* Capital one finance:
This is US Company established in 1995. Capital one provides online banking, mutual funds, home loans, auto loans, credit card in US, Canada and UK.
* Norton financed limited:
One of the known online financing companies of UK is Norton finance limited. Norton financing company is very much known for its function specially in providing multiple financing programs.
Some of the financing programs are:
1. Any principle loans:
Multipurpose loans are provided by company online for instance renovation of home, new home loans, higher education etc. Following features are possessed by this;
* Online easy loan application form,
* Better dealing out of the finance submission,
* 5,000 to 1,000,000 pounds are minimum and maximum amounts for finance approving.
* For the loan of 5000 pounds the APR of 3 years is 10.9%
* Rates are subject to change and monthly basis calculation takes place.
2. liability consolidation finance:
Liability consolidation loan is also provided by Norton online finance company to pay off more than one liability from borrowers formerly.
Main features of consolidation finance are;
* application of loan online
* speedy process
* minimum 5000 and maximum 1,000,000 pounds
* loan period from 3 to 25 years
* availability of fixed as well as variable APR
* Student finance company, UK:
This online financing company deals usually with government manage student-financing programs. Company is associated with Scotland student awards agency, Northern Ireland universities.
Some online student financing plans are:
1. Tuition loan:
The UK students are granted tuition charge finance covering entire cost. Tuition fees loan of 3,700 pounds is provided to those students who are taking the classes for at least 3 months in year. However, miscellaneous charges are not financed.
2. Tuition fee grants:
Department of higher education, UK gives grants.
3. Maintenance finance:
Maintenance finance is sanctioned for those who are poor so cannot afford cost of maintenance of study. It is different for different years of study and place. This loan is paid in three stages.