If you apply for a loan, you often have to wait days or even weeks to complete it. However, there are always situations in which a larger amount is needed very quickly. For such cases, an express loan offers. Most of the time, the processing is completely online, so that the payment can sometimes be made within 24 hours. It is imposed on credit conditions no differences from a conventional loan and terms.
In which situations does an urgent loan offer itself?
Very well suited is the express loan to replace a disposition credit. With the express loan, the shortfall on the current account can be quickly compensated so that no further interest payments are incurred. Those who are still expensive should also consider the possibilities of rescheduling. Interest rates have fallen significantly in recent years, so that a significant new cost-cutting can be achieved with a new express loan.
Short-term loans are often mini-loans that can be paid out within a few hours and only require mediocre creditworthiness!
If urgent bills can no longer be paid due to a financial shortage, quick help is also required. Otherwise, coercive measures such as wage or account pledges threaten. With an urgent loan can be avoided negative Private credit entries that complicate a subsequent borrowing.
Urgent repairs are usually incurred when no reserves are available. For example, those who rely on the car professionally can not afford to give it up for long. With an express loan, repairs can be financed quickly and easily. Smaller purchases for the household can also be handled with an express loan. It should be checked in advance exactly how important this is and whether a loan is worthwhile.
What is an express credit?
An urgent loan is basically a classic installment loan. The special feature lies in the fast processing and payment of the loan amount. Often, the required loan amount is transferred to the borrower within 24 hours. To ensure this, emergency loans are requested directly via the Internet. Within a few moments, the applicant receives an instant confirmation that the desired loan has been approved. This ensures a high degree of planning security. Although the instant confirmation is not binding, as long as no false information is provided, this is very reliable.
Conditions for an urgent loan
Urgent loans are usually offered for amounts between 1,000 and 50,000 euros. Thus, even larger purchases can easily finance it. For repayment, banks usually offer a flexible term of between 6 and 84 months. As with any loan, the annual percentage rate also plays a major role here. This includes not only the actual debit interest but also possible additional costs. The amount of the interest rate depends on the bank, the amount of the loan, the duration and the creditworthiness of the borrower.
Here are the important and comparable conditions at a glance:
- Amount of loan amounts
- the annual percentage rate
- the debit interest
- Fixed or credit-based interest
Since emergency loans are offered primarily by direct banks, the interest rate is often much cheaper compared to branch banks. However, the costs can sometimes be significantly different. Therefore, an accurate comparison should always be made before taking out an emergency loan.
What is important in a rush loan
In addition to the costs should be paid to an express credit on some other points. This includes, for example, the possibility of free special repayments as well as premature repayment. It also makes sense for the Bank to suspend installment payments in special situations. In this way, financial bottlenecks can be bridged more easily.
Requirements for an urgent loan
Anyone applying for an express credit must be at least 18 years old and have a permanent residence within the Federal Republic of Germany. In addition, a sufficient income must be proven. For employees, this is done by presenting salary statements. Those who work independently or freelance, submit their latest tax assessment. The decisive factor is always that with the income earned all running costs including the loan installment can be paid. Another important criterion is the Private credit information. This is always obtained before the award of an urgent loan. For negative entries or too low a Private credit Score this almost always leads to a rejection of the credit request.
Apply for online loan credit
As already mentioned, the emergency loan is requested directly via the internet. For this, the banks provide a corresponding online form on their website. It is important that all required information is made as detailed as possible and above all correct. Only then is a quick application processing possible. If the instant confirmation is positive, the loan documents can be printed directly on the computer. These will then be sent to the bank along with the required supporting documents. For identity verification, the postident method is used. The sealed envelope is presented together with the identity cards at a post office and the employee confirms the identity of the applicant to the bank. After a final check, the loan amount is usually transferred to the borrower on the same day.
Are there any disadvantages with the express loan?
The benefits of a loan are clearly in the majority. However, there are also some limitations. For example, the borrower must refrain from personal advice on the express loan. This is a bit cumbersome, especially for people with little experience. For most banks, however, the application is relatively simple. This way, the applicant is guided through the processing step by step.