Are you looking for an instant loan? Would you like clarity on lending and a quick payout? Would low interest rates also be important to you?
All your requirements are met online via a free credit comparison. In the following, we will show you how it works, what significance the immediate promise has.
Instant loan – who gives instant loan?
Knowing what to expect is the basis of all serious planning. Whether vacation planning, vehicle purchase or every wish remains an airlock until the financing is available. The loan offers planning security with immediate approval. A program assesses the basic eligibility based on personal information.
The easiest way to get a regular loan with an instant approval would be to apply for a loan via a free loan comparison. The loan comparison lists all possible offers sorted by interest rate. The next step is to choose the desired loan offer. If it is not just a matter of quick approval, but also of quick payment, pay attention to Videoident.
Now just fill out the online form, it takes less than 5 minutes. After submitting the application, the system checks the credit in real time with immediate approval. If the test program does not find any problems, it replies with the hoped-for preliminary loan approval. At the same time, the request for your own documents and the list of documents appears again on the monitor or in the e-mail inbox.
Preliminary immediate acceptance – what does that mean?
In order to apply for a loan bindingly, some legal regulations have to be observed. One of them is that the ID check proves that the applicant himself made the loan application. The non-binding online loan application cannot be answered with a binding promise. In order to make a binding commitment, the credit check would have to be carried out.
The process itself only takes seconds in the age of electronic communication. But, without a legally binding application, there is no binding permission to ask Credit Bureau. If the request were possible without the consent of the applicant, there would be a risk of manipulation. Every binding loan request is registered with Credit Bureau.
The entry of a credit inquiry automatically worsens your personal credit rating. Legally binding consent protects all consumers. Otherwise, without legally binding consent, anyone could, for example with the data of the unloved neighbor, permanently reduce their personal creditworthiness. However, the question of the basic credit rating for lending remains unanswered.
How exactly is it checked?
Not only the score plays a major role in lending. Most prospective creditors have a good enough score. It is therefore more important to check whether the borrower can actually afford his loan according to the requirements of the lender. The internally required minimum income is checked.
The program also checks the budget statement. It is analyzed whether there is enough money to pay the installments after all regular expenses, old loans and cell phone costs have been paid. If all criteria are met, the loan is immediately approved as non-binding. Internally, if Videoident has been ticked, the bank initiates all necessary steps for identity verification and online verification of the receipts.
Within about 30 minutes, an employee of the test company reports via video telephony via Skype. The ID card and the requested documents must be held up in front of the camera. The employee does screen shoots. He has little time for the exam, so it is important to have all the documents ready before he calls. After passing the exam, the final decision phase begins.
How fast can the loan be on the account with an instant approval?
If you have applied for via Videoident, it will be quick. Immediately after the call, the auditor transmits all data to the bank. You can now immediately start the legally binding credit check. The computer does most of the work. The program queries the Credit Bureau and / or the score. It then compares the data obtained with the default settings.
If all requirements regarding creditworthiness are met, the clerk has the final say. In principle, he only checks that the online application for the loan with immediate approval was not “cheated”. If the details match, he gives the green light. All other processes can now run electronically. About 48 hours later, the money can already be in the account.
Weak credit rating – credit check by hand
People with poor credit ratings and lower incomes ask for credit more often than comparison groups with good credit ratings and higher incomes. The risk of not getting a loan, of unnecessarily worsening creditworthiness through legally binding credit inquiries, is real. Unfortunately, the regular loan with an instant approval does not offer a serious way out of the misery.
Banks only grant loans with a poor credit rating from Credit Bureau if the individual case check refutes the forecast. The hoped-for loan approval is only given when it is humanly determined that lending is justifiable. Instead of relying on regular credit, alternatives with a quick commitment should be considered.
If your creditworthiness is poor, we recommend that you apply for a loan through Good Finance. Both banks and private donors are reached in this way. The chance to actually get a loan is significantly higher than with a regular loan with an instant confirmation.