The reasons are different, there are urgent bills to be paid or an urgent repair must be carried out. Sometimes things have to be done quickly if, for example, a warning is ignored and more stringent measures are threatened, such as an attachment. To get funds quickly, a loan is requested in 24 hours.
The fairy tale of the credit in 24 hours payment
Advertising on the Internet suggests a loan seeker a loan within 24 hours, credit with a bank transfer in half an hour on the account. These are all empty promises that cannot be realized at all, as no bank can check the customer’s creditworthiness so quickly. In the case of an online loan, for example, the postal route is between the loan application and the loan approval. The postal route alone may take two to three days.
No bank will grant a loan without checking whether the loan seeker can pay a loan at all. The bank checks the income, the Credit Bureau and the employment. As proof of this, she needs proof of salary and the employment contract. The Credit Bureau is queried by herself. Account statements also require lenders, from which the customer’s account movements can be seen. With these documents, the bank gets an idea of the customer’s finances.
The Credit Bureau exam is one of the most important approval criteria that banks carry out. From this, she can see what her customer’s payment behavior in the past was like. If the Credit Bureau is charged with loan cancellations, foreclosures or judicial reminders, a loan will not be approved in a 24-hour payment. The bank is simply too high the risk of default that the loan seeker will not or cannot pay the loan in 24 hours.
However, the customer can work on the speed of his loan approval himself. The necessary documents should be carefully compiled and sent to the post office quickly. With the signed loan agreement and the postident procedure, the documents are sent to the lending bank. The longer the customer delays this, the longer he has to wait for his loan to be paid out in 24 hours.
Even if the documents are sent quickly by post, it still takes up to two days for the documents to reach the bank. The check will take another two days, but then the credit will be transferred to the account in 24 hours. The customer can still request a wire transfer, but it is always the same way from the loan request to the loan approval.
The quick loan
While online mail must be used to check creditworthiness, a loan seeker can get a loan in 24 hours from a branch bank, for example his house bank. If the customer has the necessary documents together and brings them to the bank, the bank employee can check them immediately. The Credit Bureau is also queried, which takes only a few minutes. Within an hour, the loan is approved in 24 hours payment and can be paid out immediately in cash or to the account.
Of course, the customer’s credit rating must be good and negative entries in his Credit Bureau must not be present. The income must be high enough, a permanent job is required. Pensioners can also get a loan if their pension is suitable. He then has to submit the pension notification. Age restrictions must also be observed. The customer must be of legal age and must not be older than 70 years. The income must not be pledged and there must also be no hard characteristics in the Credit Bureau, such as loan cancellations, oath of disclosure or enforcement notices.
The overdraft facility is also a quick loan. Banks make the overdraft facility available to their solvent customers, sometimes without the customer having to do anything when opening an account. A call to the bank is often sufficient and the overdraft facility is set up or increased. Depending on how high the income is, the bank approves up to three net monthly salaries. However, the overdraft facility is expensive, it has an interest rate of up to 15%. If the customer exceeds the approved credit line, the bank will charge another 5% interest.
If the bank charges such a high overdraft rate, the customer should perhaps look for another bank. About 10-11% are normal for the overdraft facility. A cheap bank can be found with a credit comparison. The customer should then carefully review the conditions. Even long-time customers should not necessarily stay with their expensive bank, they are giving away cash.
The customer should know that a disposition should only be used for a short time. It is okay if it is balanced again within three months. At the latest when the incoming salary no longer covers the overdraft facility, a loan in 24 hours payment should be considered.
The bad credit rating
However, the above suggestions are only for the customer whose creditworthiness is good. This means that his income must be above the garnishment exemption limit and his Credit Bureau must be faultless. If, on the other hand, he cannot prove a clean Credit Bureau, negative entries are noted, he will not receive a loan from a conventional bank.
In this case, there are non-Credit Bureau-free loans from abroad. They have been coming from the bank mainly from Liechtenstein since 2010. The bank is reputable but has fixed requirements. As mentioned above, the income must be correct and there must be a permanent job. The employment contract must not be limited and there must be no trial period. The employment must exist for at least one year.
These loans are processed by credit intermediaries. However, when commissioning an agent, care must be taken to ensure that it is serious. If the preliminary costs or the signing of insurance contracts require it does not work seriously, the customer should then look for another intermediary.
However, the bank only provides two loan amounts, one for 3,500 USD and one for 5,000 USD. The terms of both loans are 40 months, the interest rate 11-12%. An example: A single must earn 1,160 USD net in order to receive the 3,500 USD credit.