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
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
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 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.