It quickly happened: The car is on strike and an expensive repair is on. The TV suddenly gives up the ghost. The forgotten, now empty oil tank wants supplies. Lack of alternatives immediately shrinks the savings.
However, in the present day, there is seldom room to build up a corresponding cash reserve on the savings account, and thus credit is often the only way out. In case of unforeseen expenses, a loan with payout in 24 hours comes into focus.
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The situation is different from the branch banks: after a consultation, the loan agreement can be signed immediately, provided that the creditworthiness is given and there are no negative Credit bureau entries or other reasons against it. In this case, the bank employee takes over the verification of identity and further processing.
In urgent cases, a payout loan for really bad credit is available at our site in 24 hours via express transfer, so the loan amount is actually available overnight. What evidence (usually the last three payslips, bank statements, employment contracts, etc.) are to be brought, in this case, one asks for safety’s sake in advance.
When comparing credit terms, the Internet does not help much in terms of branch banks: in some cases, the terms shown on banks’ websites are only available online, which in turn leads to the above-mentioned drawbacks.
For a loan with payment in 24 hours, the classic offer comparison on site is needed. Sure, this way is not as comfortable as on the home PC and with credit card surcharges, but has an immense added value: financial worries are immediately over.
Help and problem of the Internet
Fortunately, comparison portals on the Internet help to survey the various loan offers. At first glance, direct banks score points.
By eliminating branches you are based on a leaner cost structure; this advantage is passed on to the customer in the form of favorable interest. The lending rate of the direct banks is often several percents below that of the branch banks.
Not infrequently, an “immediate promise” of the loan is advertised. But one should not be fooled: An instant commitment is not a loan with payment in 24 hours. This refers only to the commitment to grant the loan – in no case the disbursement or immediate availability of the money.
The actual credit agreement must be signed in paper form by hand. Either it is to be printed or sent. Depending on the bank and the type of loan, the contract must be supplemented with additional documents (for example, copies of payslips, employment contracts, etc.).
The last step is a verification of the personal details, mostly by means of a post-identification procedure, legitimacy by means of identity card in a post office. By post, the processing time of the bank follows, which often amounts to more than a week in such cases.
This procedure is by no means missing service of the banks, it is prescribed to you. No account of any kind may be opened in Germany unless the future holder has personally registered and has signed a corresponding contract in the original.
This makes it clear that direct banks can not offer a loan with payment in 24 hours – unless the legislature relaxes the requirements currently in force.