In recent years, banks have been expanding into what is known as 'fast financing'. This type of lending has become popular due to its speed and simplified application process. However, experts warn of hidden risks and high interest rates that often accompany such products. Many borrowers, caught up in the speed of approval, overlook the terms of the agreement, leading to financial difficulties down the line. Banks, in turn, justify the high cost of service by citing increased risks and the need for rapid decision-making. Regulators in some countries have already begun to impose restrictions on such types of lending to protect consumers from unfair practices.
