Financial needs can arise suddenly: for example, due to a real emergency such as an accident or a lack of income, or simply because the furniture store has reduced the long-awaited fitted kitchen significantly in price. Whatever should be financed quickly – there are certainly ways to get the necessary funds as directly as possible. Even so, it is a fact that many consumers have a misconception of the length of time until the loan is paid out.

The instant loan

The instant loan

Instant credit is a particularly quick loan: you apply for it online, either at one of the well-known branch banks, such as Lite Lender, or at a credit agency such as Cream Bank, Best Bank or Astro Finance. As a rule, it is assumed that the prospect is an employee, on a firm, non-temporary basis. Self-employed people do not receive instant credit on the Internet because it takes longer to assess their creditworthiness – this is mainly due to the fluctuating income that self-employed and freelancers record.

However, a quick loan or instant loan is not characterized by the fact that the money ends up in the account particularly quickly: rather, it means that the prospect receives a loan approval or loan cancellation quickly, usually within 24 hours. The loan approval is always provisional and based on the information on salary and collateral provided in the application. However, these are checked, of course, by means of account statements, pay slips and the submission of an employment contract.

Instant loan online

Instant loan online

In the case of an instant loan, it is common for an application to be completed online, which the interested party must then print out, and via PostIdent procedure, together with the necessary documents (employment contract, account statements, pay slips), to the lending bank or the corresponding credit agency working with the bank works, sends. After checking the creditworthiness, the consumer receives the final loan approval in the form of a credit contract by post, which he has to sign and then send to the bank. Only then can the instant loan be paid out to a specified account, sometimes also by post.