Productive loans: Simply achieve more!

There are many things in life that cannot even be paid for. This is what young families, for example, are experiencing, who are currently setting up their first apartment together: up to now, the two partners have always gone separately with their dirty laundry to the nearby laundromat. For three family members, however, this is expensive and time-consuming. The simplest solution is to buy a washing machine, but the couple has to take out a loan. That is a sensible solution. Because when the loan is paid off, the family has a material value that will hopefully last a long time. It also saves expensive laundrette costs. And it can make good use of the time that the laundry is in the machine for other things.

If you replace the family with a company and the washing machine with an expensive system in a production line, you come to the same conclusion: resources are used more sensibly through the new acquisition. Ultimately, the loan helps to save or make a higher profit. Experts call such a loan “productive”.

 

Real estate loans can also be productive

Real estate loans can also be productive

Other examples of productive loans are, for example, loans to finance a degree. Statistically, academics are less likely to be unemployed and earn well. Such a loan is an investment in the future. A real estate loan can also be productive – if the purchase price of the house is reasonable, the location is right and the value of the house is continuously maintained.

If you tried to save the entire amount for a course of study or a house, you would probably have to start early and save for a long time. Before taking out a loan, however, it must be ensured that you can service the loan regularly and that it is adapted to your life situation. In the worst case, a loan that you cannot repay will drive you into personal bankruptcy.

 

Set realistic goals

money goals

For example, a loan is not productive if someone who urgently needs a car to drive to work every day chooses one that is unreasonably expensive. Or when the family takes out a loan to go on vacation, or when the company owner opts for a system whose capacities he can never use. If you need a loan, contact your Sparkasse advisor. Together with you, he calculates which loan amount is feasible for you.

Cash loan immediate payment

In a financial emergency, the savings often are not enough. A loan is usually required for new household purchases or expensive repairs. However, many banks and financial service providers need several days to pay off the loan amount. A cash loan with an immediate payment is only available from very few banks or credit agencies.

The overdraft facility of the house bank can be used as a cash loan with immediate payment

The overdraft facility of the house bank can be used as a cash loan with immediate payment

Many bank customers have very good and above all long business relationships with their house bank. However, it is not easy to quickly get a loan from this bank or savings bank, which is also paid out immediately. Changes in the business relationship or loan requests almost always have to be expressed in a consultation. Loan seekers who want to make an appointment with their clerk often have to wait several days. However, the clerks are usually very well prepared for the consultation and can offer various solutions.

A bank loan with an immediate payment is usually not offered by the house banks. However, if the bank customer is liquid and has a relatively high Credit Bureau score, the clerk can increase the overdraft facility. This increase in the MRP is possible immediately. The current account can then be overdrawn immediately by the approved amount. Anyone who decides on this loan option should think about the costs. An overdrafted checking account with a credit line can quickly become a cost trap. Most banks and savings banks charge overdraft interest of between 10 and 12 percent. The interest amount due is calculated on a quarterly basis.

Cash loans with immediate payouts are available from loan brokers

Cash loans with immediate payouts are available from loan brokers

In addition to the banks and savings banks, many reputable credit agencies are among the major financial service providers. By working with various banks in Germany and abroad, credit agencies can offer many different loan options. For many financial service providers, this also includes a cash loan with immediate payment. Of course, this loan is only possible if the loan seeker can submit the necessary credit documents and fully meets the credit requirements.

The cash loan is applied for online at a credit agency. Home visits by the staff of the credit agencies are rather unusual these days. Even while the loan application is being filled in online on the computer, the credit agency obtains Credit Bureau information. For a cash loan, the Credit Bureau information should have a higher score. The credit application is available for download after completion and can be signed after printing. To check the creditworthiness, a credit agency needs the current salary statements of the loan seeker. The required documents can already be submitted to many credit agencies via video ident. If the documents are complete and the loan is approved, payment can be made.

The cash credit with immediate payment is usually transferred to the current account of the applicant. It takes about 24 to 48 hours to pay out. Some credit agencies also offer postable payouts. With this loan option, the postman pays the loan the next day. Anyone who decides on a cash loan with an immediate payment must expect high costs. High loan interest is also charged for these loans. The commission of the credit agency is also included in this interest amount.

The immediate payment of the loan amount presents some financial service providers with difficulties

The immediate payment of the loan amount presents some financial service providers with difficulties

The cash loan with immediate payment is not available from direct and branch banks or on credit marketplaces. These financial service providers often have to pay longer to check and submit the necessary loan documents. Anyone who still needs a cash loan that is paid out immediately must contact a credit broker. Here, the loan seeker must ensure that the financial service provider is serious. There should be no costs until the loan is paid out. The house bank is also an alternative. However, the overdraft facility can become very expensive if it cannot be paid back as quickly as possible.