Instant Payoff Loan | Take out a loan easy and fast

With credit applications, an immediate payment is when the customer has the desired money two bank working days after submitting his application. In contrast to the interbank business, regional holidays and customs days are not considered bank working days in customer traffic, so that payment may be delayed by one day.

The most common names for an instant loan are instant credit and instant credit. A mere instant loan decision does not mean that the bank pays the loan immediately.

How quickly can the bank pay off a loan?

How quickly can the bank pay off a loan?

The bank is also obliged to carry out an identity check for a loan with immediate payment. Since the documents for the Postident procedure are only received by the bank on the next day of delivery due to the usual postal delivery times, the payment can only be made on the following working day, with the exception of customers already known to the bank. An exception is possible if the loan applicant has the opportunity to personally present his ID card or passport in a bank branch.

Furthermore, credit institutions with a Luxembourg banking license may accept a copy of your ID card as proof of identity for usual loan amounts. A bank working day must also be set for the transfer of the approved loan between different banks.

This period of time can be shortened by one day with a lightning transfer, but there are high additional costs. The general requirement for a loan with immediate payment is Credit Bureau information without negative characteristics. Consumers can get a loan from some banks even with a soft negative entry, but before granting it, the lender carries out extensive checks so that he cannot approve the loan application within two days.

Is the immediate commitment sufficient instead of the immediate payment?

Is the immediate commitment sufficient instead of the immediate payment?

If the bank offers a loan with an immediate payment, it grants its customers the additional services of quick loan processing and the immediate availability of the money. Consumers willingly accept that they will add a premium to the borrowing rate for these additional services, as they are happy with the immediate payment. In many cases, however, an immediate credit decision is sufficient so that the applicant can make the desired purchase, which in most cases he has 14 days to pay anyway.

Within this time frame, the money is also received if the bank does not advertise a loan as a loan with immediate payment, but only with an immediate loan approval. The interest rate for the loan is usually cheaper with a direct commitment than with an agreed immediate payment. Consumers are often so enthusiastic about an offered loan with immediate disbursement that they forego a price comparison.

Given the large differences in interest rates between different banks, this does not make sense for instant loans. Price-conscious credit customers also take the time necessary to compare various loan offers if they want an instant loan.

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