If you want a loan with an instant approval, you should take a look at the online banks. After the loan application has been made and the required data entered, the loan seeker will receive a preliminary loan approval within a few minutes. This enables a customer to plan and act with foresight. But the house bank could also provide a loan with immediate approval.
The loan from the house bank
A loan with an instant commitment brings good predictability for a loan seeker. This means that urgent purchases, urgent invoices but also wishes can be fulfilled. The customer can contribute to the duration and the rate.
He is in a particular hurry and can find the way to his house bank. The customer is known there and they know their financial situation. If he then carries all the relevant credit documents with him, the bank can immediately approve the loan with immediate approval after checking the documents and asking Credit Bureau. The customer can often take his money with him in cash or it is paid into his account.
If the creditworthiness is not sufficient, for example because the income is not so high, the customer can provide other collateral. Think of a property or a life insurance that can be lendable. However, a second borrower or a guarantor is also recognized as credit protection.
The bank uses the evidence in the form of proof of salary and the account movements on the checking account to check the creditworthiness of the customer. In order to receive a loan with immediate approval, you must also have an unlimited employment relationship. If the employment contract is temporary or if the borrower is still in trial period, he will not receive a loan without collateral.
The loan with instant approval from online banks
However, branch banks like the house bank is one, not as cheap with their terms as a direct bank from the Internet. A credit comparison can be used to find a cheaper provider, and the terms and conditions can also be found out. The loan application can also be made directly via the loan comparison.
The data that a provider needs in advance are the name, the address, the income, the loan amount, the term and any installments to be paid. Based on this data, the provider will make a preliminary loan approval that will be made within a few minutes. The customer then receives the loan application, which he has to fill out and return to the bank with the necessary credit documents. Proof of salary, bank statements and a copy of the employment contract are required.
On the basis of these documents, the bank will check the customer’s creditworthiness and, if necessary, issue a final loan approval. The whole procedure takes around 7-8 working days. However, the customer already has the preliminary immediate promise. Of course, the bank checks the Credit Bureau, which must not contain any negative entries. Since many internet banks use an automated test procedure, customers with bad credit are immediately sorted out.
The loan with immediate approval from abroad
If the loan seeker cannot find a Cream bank, he could try a credit broker. This professional group also knows banks that are not so well known but still approve loans even if the entry is negative. However, it must not be a serious entry such as bankruptcy, attachment or affidavit. But these loans will certainly be more expensive than a conventional loan.
Another way is shown with the Credit Bureau-free loans that come from abroad and mainly from Liechtenstein. Until 2009, almost all of these loans came from Switzerland. Since 2010, Litebank from Liechtenstein has taken on this form of credit in full with all terms and conditions. In the case of Credit Bureau-free loans, there is an immediate confirmation based on the data entered after the loan request.
Of course, the bank from Liechtenstein also checks the creditworthiness of the customer. As with all other banks, income is also put to the test. It must be sufficiently high and have an attachable share of at least 100 USD. An example: A single must earn a net 1,160 USD for this bank’s 3,500 USD loan. If four people live in the household, the garnishment-free limit is 2,500 USD.
In addition to the income, there must be a permanent job that has existed for at least one year. It must not include a trial period and no time limit. The foreign bank provides customers with three loan amounts. Once 3,500 USD, 5,000 USD and since July this year 7,500 USD are offered depending on the credit rating. The credit rate for the 3,500 USD is 105.00 USD, the 5,000 USD credit has a rate of 150.00 USD and the 7,500 USD credit is about 220.00 USD. Despite careful research, an exact rate amount could not be determined.
The documents will be sent by post with the signed loan agreement. The borrower must also carry out the Postident procedure at Swiss Post beforehand. This form for identifying the person will be enclosed with the credit documents and sent. The bank checks the documents and, if necessary, issues the loan approval.
When choosing a loan agency, care should be taken to ensure that the agency works properly. So preliminary costs or insurance contracts are not serious work, another serious credit broker should be looked for here.
Interesting facts about credit with instant approval
If you want a loan, look for a cheap interest rate. But that shouldn’t be the focus. Any special repayments also make up a cheap loan with immediate approval. So it should be allowed to make free special payments once a year. Many employees receive bonuses or special payments from their employer every year. If special repayments are allowed, these payments could pay off the loan more quickly.
Before making use of a loan agreement, the customer should carefully examine his economic situation. Can he pay a loan at all and how high can the rate be? If the customer does this preparatory work, he goes into a loan agreement well armed and there are fewer loan defaults. To find out if he is financially able to pay a loan, he can do so with an income / expenditure plan.
He simply compares his income to his expenses, and if there is financial scope, this could serve as payment in installments.