If you apply for an instant loan from a bank, there is usually a good reason for this: you need money quickly and easily. Compared to a normal bank loan, an instant loan is granted much faster and easier – often even without asking the credit bureau. This is precisely why the instant loan is also suitable for people who are in a financially more difficult situation:
Many instant loan offers on the German market
There are now numerous offers for instant loans. Almost every credit institution offers such a loan to finance personal wishes – and especially direct banks on the Internet are provided with the online instant loan, in which the loan is usually canceled or canceled immediately after entering the personal data. As a rule, the decision about an instant loan is made within a few minutes or hours. Often also directly online.
The payout usually takes a while
However, this does not mean that the money is already in your hands in such a short time. Because the immediate commitment is nothing more than a preliminary approval by the bank. In order to really get the instant loan, as with any other loan, you have to fill out forms and submit documents. Nowadays, some banks already offer identification methods such as online video ident and the submission of credit documents online.
Rating by bank employees via email
First, the bank issues a so-called rating – that is, it uses the information provided to assess the applicant’s creditworthiness. Then he receives an individual loan offer (often by email), which he has to sign and submit to the bank by post together with the necessary documents such as proof of salary, etc. Once all the documents have been submitted to the bank, the application is checked again – and only then is money paid out. The processing time is shorter than with a classic loan – but you should still allow some time until the desired money is paid out.
The loan is repaid in monthly installments, just like an installment loan. The amount of the installments depends on the loan amount as well as on the chosen term and the interest rate offered. The shorter the loan, the higher the interest rate.
It is worth comparing the offers
It is worth comparing the various loan offers of the banks with one another before deciding on an offer. Interest rates sometimes differ considerably. In addition to our website, there are numerous other options on the Internet for carrying out a corresponding loan comparison.