The most popular type of loan currently offered is microcredit. Not only is he quick to record but also quickly disappeared from the life of the borrower. No wonder, therefore, that it is not considered for long whether such a loan should be taken up.
More than 20,000 loans are issued each day in Germany alone. Most of these are small loans. These are divided between consumer loans and installment loans. While consumer credit is earmarked and can only be used for the purchase of very special items, the installment loan is free of constraints and obligations. It can be taken without the indication of a purpose and is therefore at your own disposal. A big advantage for those who want to balance their account or accumulate accumulated debts. After all, you do not like bragging about the bank when you’re about to make new debt in the form of a loan. This could ensure that the so much needed microcredit does not come about.
Many borrowers expect the loan to be available as quickly as possible. Not infrequently, a fixed project is associated with what is already planned and implemented swiftly. Since then can hardly find a room for big delays. If, for example, a small loan is searched for in 24 hours, then the credit must be taken in the right place in order not to endanger the speedy provision. In addition, as a borrower you should be aware that you have to do a lot of work yourself in order to enable fast processing and provision of the small loan in 24 hours. What all this is, we have gathered at this point once.
The best port of call for a microloan in 24 hours
In principle, there are two contact points, which can certainly provide a small loan in 24 hours. Unfortunately, this does not include the internet. Even if people like to advertise with a quick processing of loan applications, an application, processing, approval and payment within 24 hours via the Internet is hardly possible.
Because unlike an application on the spot, all documents must first be sent to the lending bank. Because every credit agreement requires an original signature of the borrower. A copy from the fax or scanner is not enough. On top of that, the identity of the borrower must be verified by a PostIdent. To do this, the borrower has to go to a post office with the relevant documents and an ID card, have the documents filled out and ask the post office for a quick dispatch. All this takes a lot of time and therefore prevents a small loan in 24 hours over the Internet.
But there are also two options for taking out a small loan in 24 hours, which always works if the creditworthiness of the borrower is correct. This would be on the one hand the consumer loan and on the other the installment loan, which is taken up directly at a local bank.
Consumer credit, which can be used to finance consumer goods, is offered by many retailers. It allows the financing of purchased items and offers a installment payment. So if you want to buy a new kitchen, you do not have to pay for it in cash, but you can pay for it in small monthly installments.
Since the consumer loan is requested directly from the dealer, he can also say within a few minutes whether he can be approved. The dealer asks for the private credit, inquires into the revenue and expenditure and checks whether these conditions for the recording enough. If everything goes well, you know within a few minutes whether the consumer credit is approved.
An installment loan with a local bank is just as uncomplicated. These are searched for with the required documents for the application, the loan request and the required loan amount and filled in together with an administrator of the loan application. He checks all information and the documents, asks private credit and will approve the loan with completeness and a good credit rating. Again, this takes only little time.
On request, the money can be paid out of the microcredit in 24 hours then even in cash. Depending on the form in which it must be available for the planned project. Such flexibility is not possible anywhere else.
Which conditions must be met?
Since no foreign loan is eligible for a microcredit loan in 24 hours, the loan must inevitably be taken up in Germany. This means that a good credit rating must be presented for the credit agreement to be signed. A good credit rating has several aspects and is determined by the bank or the Sparkasse within the application review.
A good credit rating includes a consistently positive private credit, which must be free of negative entries indicating default in payment obligations. If that were the case, then one would not be creditworthy in the eyes of the banks and the request for a micro-credit in 24 hours would be rejected. Only a guarantor or a second co-applicant could then still allow the loan. Involving them, however, takes valuable time and jeopardizes the fast payout. It is better, therefore, if the private credit fits from the beginning, and no unnecessary delays arise.
The same applies to the income. It must come from a fixed employment, must not be under the seizure exemption amount and be so high that all expenditures can be covered thereby. In addition, so much money must be left over from the income that repayment of the loan can be arranged.
By the way: child benefit, child support or payments from the employment office do not count as income and therefore can not be counted towards this.
Furthermore, a good credit rating builds on a fixed address in Germany, a German bank account and a minimum age of 18 years. Likewise, there must be a pass that confirms the identity. The same applies to documents about income and expenses.
Special latter is very important and will gladly once in the application for small loan in 24 hours forgotten. Only details on the loan application are made, which are then not confirmed with meaningful documents. The bank is then forced to reorder the documents, which takes time and delays the approval or payment of the microcredit in 24 hours. Therefore, we recommend that you check thoroughly before submitting the loan application, whether all the documents are complete and whether all the information on the loan application is true. Only then can the application be processed in the desired timeframe.