The Internet has created many new opportunities for consumers and smartphones and tablets go one step further. Today it is not only possible to shop around the clock without having to leave the house. In the same way, it is also possible to fulfill consumer requests on credit without having to enter a bank.
In this fast-moving time, it is sometimes important to make a decision quickly. Regardless of whether it is a matter of making purchases at a bargain price or immediately fulfilling long-cherished wishes. If you have no savings or have invested your money in other projects, you can get an instant loan today within 24 hours. At least that suggests the advertising of some banks and credit intermediaries. But is there really an instant credit within 24 hours? Or there is a catch, because the advertising only serves to attract customers. We have investigated the question and are showing amazing things for doubtful consumers.
There is an instant loan within 24 hours
Clearly yes – an instant loan within 24 hours is granted online by many banks. This is possible because installment loans are now standardized banking products that go through an automatic processing process in the banks, which is not related to the bank’s opening hours and is not dependent on whether staff are present or not. Every creditworthy consumer who applies for an instant loan online theoretically has the chance that this instant loan will be granted within 24 hours. The time can even be clearly limited again. With the appropriate credit rating, it only takes a few minutes.
But now comes the catch – an authorization can be obtained within a very short time, but the consumer does not have the money with it yet. The instant loan within 24 hours is nothing more than approval for the loan. It still takes several days before this can be paid out, since postal delivery times and technical-organizational processes in the banks cannot be shortened.
While the approval of a loan request takes place automatically, personnel must be on site to settle a loan contract, who checks the contract and the associated documents for correctness and completeness.
On average, it takes between seven and ten days for an instant loan to be available in the borrower’s checking account.
Take out an instant loan in retail
The process is somewhat different if the instant loan is applied for directly in retail within 24 hours. This is possible, for example, at a car dealer, in a furniture store or in an electronics store at Saturn or Media-Markt. In this case, it is really the case that creditworthy customers can immediately take the goods financed with the loan with them. The instant loan is not transferred to the borrower’s account as cash, but is used directly to finance the goods.
The bank approves the loan, the customer theoretically receives the goods immediately and the loan is paid to the dealer. In practice, of course, it works differently. Cars and furniture often have to be ordered first so that the goods arrive later. But the approval for the loan is also here within a few minutes.
Instant loans are popular
The majority of German consumers regularly use loans to meet consumer wishes. The opportunity to take out a cheap instant loan is gladly used. In order to filter the best out of the many offers, a free loan comparison can be made. This gives consumers who care that their credit costs little, an overview of the most attractive offers. You can then apply for the instant credit directly online at the bank of your choice. With the appropriate creditworthiness, approval will not be long in coming.