It is up to you whether an instant loan lives up to its name: the better you prepare the documents that you must submit to the bank in any case, even after an instant approval, the faster your express loan can be disbursed. In addition, of course, the SCHUFA information plays a decisive role, here you can also act prophylactically. Learn below how you can effectively use our loan comparison, if it has to go fast once.
Important requirements for an express loan
If you urgently need additional liquidity because, for example, an expensive repair or purchase becomes unplanned necessary or your overdraft limit is exhausted and you are looking for a cheaper alternative, the speed of loan processing depends not least on you. On the one hand, you can already prepare the documents required in any case in advance:
- Copy of the valid identity card or passport with confirmation of registration
- Copy of the last three wage and salary slips
- Evtl. Copy of the employment contract
- Copies of the bank statements of the last three months
- List of current income and regular expenses
- Proof of credit obligation in case of debt rescheduling
When applying online from the loan calculator, this data is already requested and transmitted in encrypted form, so that an immediate approval is possible with reservations. However, you must in any case prove the information provided by sending the requested documents to the bank as soon as possible. As a rule, this is done in connection with the postident procedure, which is required for online contracts for identification in accordance with the money laundering act.
With the transmission of the information for your instant credit you give your consent to the query of a credit report, here is usually used SCHUFA. The data stored there and the calculated score allow the bank to draw conclusions about your creditworthiness: the better your credit rating, the lower the risk of default – and the more favorable the conditions for your instant credit may be.
Tip:
to avoid nasty surprises, you should make use of your right and request a free self-disclosure from SCHUFA. This is available to you once a year. In this way, any errors, undeleted entries or mix-ups can be corrected before they cause any inconvenience.
Loan comparison – perfect tool for an instant loan
Use our loan calculator to quickly and easily get an overview of the current conditions for an instant loan:
- Enter the desired loan amount. Here you can choose from a range of a small loan of 1.000 euros up to 70.Choose 000 euro.
- Set the optimal term between 12 and 120 months.
- Enter the intended use, such as debt restructuring, car loan, real estate financing or free use. This point is important, as it plays a role in the credit check.
The loan calculator already selects the providers in question on the basis of these specifications, but you can make changes at any time.
Results in the credit comparison – evaluate correctly
You will find your requirements listed again on the results list, so that you can keep track of them at any time, but also make changes. In addition, the individual providers are presented with the important key data of their offer: monthly rate, debit interest per year and effective annual interest rate – always based on the net loan amount that you have specified as the loan amount. Now go through the individual credit offers one by one and note that the banks and financial service providers agree on either creditworthiness-independent or creditworthiness-dependent conditions:
If a from-to range is shown, such as "2.99% to 8.14%", the bank will only determine the final terms after reviewing your financial circumstances and creditworthiness. If you have a very good credit rating, you can expect a low effective interest rate – although this only applies in relatively few cases. Otherwise, a higher interest rate is offered. Alternatively, you can choose from the creditworthiness-independent offers, these can be recognized by the fact that only one interest rate is listed. This may seem unfavorable at first glance, but is quickly put into perspective: we present a sample calculation for each provider. This is based on the conditions that are agreed for two-thirds of the applicants – and most likely also apply to you.
Tip:
please be sure to use the effective interest rate from the sample calculation to compare the conditions, so that you have a reliable basis for decision-making.
Apply for instant credit – rate details summarized compactly
Of course you can make noncommittal condition inquiries at this point. The bank would then do the credit check based on your SCHUFA report and the information submitted online. However, if you need an express loan, the creditworthiness-independent variants should ensure faster processing. Before you decide, however, you should take the rate details , which we have compiled compactly for you, into your considerations. On the one hand, the possible sums and terms are listed here, on the other hand, the important options for unscheduled repayment or early loan redemption. Get maximum flexibility to repay the instant loan according to your possibilities.
Once you have made your decision, simply click on "next" to get all the key data for your instant loan shown again. Here you can decide whether you want to have another applicant included in the loan application – the chances of loan approval could possibly increase as a result. In fact, the risk is spread over several shoulders, so that the bank could resort to double collateral if necessary. At the same time, you authorize the lender to obtain the SCHUFA information to assess your creditworthiness.
In further steps, information on your employment relationship, income and regular expenses is requested. On this basis, an immediate commitment can be made with reservations – an important step for you in the direction of instant credit. If you want it to be quick, you can request the documents, i.E. The prepared loan application, the list of documents to be submitted and the form for the postident procedure right away by e-mail. Fill out all the forms and visit a post office to complete the identification in accordance with the money laundering act.
Send loan application – get approval for instant loan
If the bank's documents sent with the loan application confirm your details and thus the requirements for immediate approval, you can expect the agreed amount to be paid out to your checking account in the short term. If you have agreed on a debt restructuring, the direct redemption of old liabilities can also be arranged: the new bank will ask the previous bank for the net loan amount still outstanding and settle the amount with a corresponding transfer. You can agree this individually by making a corresponding provision in the loan application and granting power of attorney.
Instant loan – prepare comprehensively and receive quick payment
The better you prepare for the application, the faster an express loan can be disbursed. It does not matter whether it is a small loan or a larger financing: what is important are the documents you need to submit to demonstrate your financial situation and thus the loan collateral. At the same time, of course, the credit report plays a crucial role, here you can also take preventive action. The loan comparison gives you a quick and uncomplicated overview of the current conditions, whereby you should definitely use the effective interest rate as a comparison criterion in addition to the debit interest rate. This is because all costs incurred are already included here. In addition, check the contractual terms and conditions to ensure maximum flexibility in repayment.