An instant credit online loan is a loan that is processed and paid out very quickly. So the customer can have the money within a few days. The prerequisite for this, however, is that he can prove positive Credit Bureau information and a regular income. The latter should also be so high that it can not only earn a living, but also pay the credit installment. If this is not the case, the bank is usually forced to reject the online loan with immediate payment.
Perform credit comparison
Online instant credit does not mean that this loan can also be paid out in cash. If at all, this procedure is only possible with a branch loan and in exceptional cases. Otherwise the effort would be too great. In the case of an online loan, this would mean that the bank would have to prepare a postal order with which the customer could collect the money in cash at the counter.
Before deciding on an online loan with immediate payment, it is advisable to carry out a comparison on the Internet. Only then should the online loan with immediate payment be applied for. This process is very straightforward and requires only a few steps. In most cases, the banks provide a corresponding application form on the Internet for this purpose. If it is filled in correctly, it could be sent directly to the bank. Now the immediate credit check can begin.
Approval and payment
Even if an online loan with immediate payment is characterized by the fact that the creditworthiness of the customer is checked quickly, this does not mean that he does not have to meet certain minimum requirements. Without a positive Credit Bureau information loan in Germany is not possible. Statements to the contrary are usually dubious and should only be viewed with great caution.
If all the requirements for a loan are met, the loan is paid out immediately. To do this, the customer would have to enter a checking account where the money should be transferred to. This checking account could, but would not have to exist with the same bank that is responsible for the lending. Individual agreements are made for repayment. Both the amount of the monthly loan installment and the length of the term are specified in the loan agreement. Additional repayments or early repayments are usually possible without any problems.
Before taking any concrete steps, however, the contract terms should be studied. Under certain conditions, prepayment penalties would be charged. A loan repayment could still be worthwhile. This is especially true when the general interest rate level has dropped significantly, which would also have an impact on the terms of the lending and primarily on the amount of the annual percentage rate.