It is not always possible to get over a long time before the loan approval, because in some situations it is simply necessary that money is quickly available. Most consumers then turn to so-called instant-approval loans, which are generally expected to make quick money.
Indeed: in the case of loans with immediate approval, which are also called 24-hour credit, express credit, quick credit, etc., the prospect receives a loan approval quite quickly, sometimes even immediately – but be careful: this immediate approval is always only of a preliminary nature. This means that even if the bank has made a provisional loan commitment, it does not necessarily have to be a loan. How can that be?
As a rule, loans with instant approval are offered on the Internet – either by banks or by credit brokers. The prospective customer has to fill out a questionnaire online, in particular according to personal details such as desired loan amount, name, date of birth, address, employment relationship, amount of income, collateral, duration and amount of the desired credit installments.
On the basis of this information, which is made online, the provisional loan approval (or rejection) is issued, so that the applicant must prove his income and financial situation so that the loan approval can also be confirmed. In addition to bank statements, he also sends pay slips and employment contracts to the lender, using the PostIdent procedure.
Loan with immediate response
A loan with an immediate promise, with which one hopes for quick money, is not necessarily paid out faster than a normal loan, on the contrary: since instant loans are usually granted online and the documents to be submitted and the loan contract have to be sent by post, one will Loans in a branch bank are often paid out faster than internet loans.
Incidentally, the self-employed often look into the tube when it comes to loans with an immediate commitment, because the assessment of the creditworthiness and the income situation takes longer for self-employed people and is more complicated than for employees. In general, loans with immediate approval should be treated with caution: think about the extent to which the need for debt capital is actually necessary before you commit yourself to a loan in the medium or even long term.