What is an instant loan?

An instant loan is a loan that is disbursed to the applicant on the same business day without taking into account other deadlines. This credit variant is offered both by established house banks as well as credit institutions on the internet, even if there are differences in the application and credit granting. In order to be able to profit from an immediate loan on the spot, all documents for the proof of the individual securities and a positive creditworthiness should already be brought along with the request, in order to convince the credit institute without delay of the granting of the loan. It can be helpful to have been a customer of a bank for a long time, which has an insight into the individual financial circumstances and securities. On the internet, the whole thing is a bit easier to do. Here, too, you should have all the necessary documents ready, but you no longer have to leave the house with modern credit inistutes. You can easily submit your paperwork online and identify yourself via video process. Thanks to digitization, not only will you have your money in your account faster, but all that tedious paperwork will be eliminated as well.

Even if low repayment conditions with sofortkredites are aimed at and are to be determined by a credit comparison, for many applicants the emphasis lies on a as fast as possible disbursement of the money. Here, many of the online banks help with options such as instant withdrawal or express payment, so you get your money the same day.

Special features of the instant loan on the internet

Compared to local financial institutions, most direct providers on the internet waive an additional fee when granting their instant loans, which is often charged by traditional credit institutions for fast processing. Since proof of collateral can be provided electronically when applying online, there are fewer costs and a lot of time can be saved. This is an additional advantage of the internet compared to the stationary banks, because in a loan comparison the repayment conditions of the financial houses in the internet come off somewhat better than with classical banks locally.

The disbursement can be made even with loans on the internet only after you have submitted all the documents. Due to the delayed payout in this case, many internet banks use the term "instant credit". Here the online application is checked partly automatically within seconds or minutes and in the ideal case a promise is given, even if the desired disbursement is delayed.

Apply for an instant loan online

Instant loans have many advantages and if you urgently need money that is paid out immediately, you can find internet help quickly. Applying for instant loans is quick and easy. It is important, however, that you compare the various credit offers carefully. The internet has brought a new level of transparency to the credit market. With just a few clicks, you can directly compare the different loan offers and see which instant loan suits you best. With little effort, you can save a lot of money within minutes. When money is already tight otherwise, you should be able to save on credit. With the loan calculator at the top of our page, you can see which instant loan is worthwhile.

Instant loan as a quick help in financial emergencies

Sometimes in life there are unfortunate situations and at least if they are financial, can be easily remedied. Instant loans are used to bridge financial bottlenecks. One feature of an instant loan is that it is granted quickly. You do not have to submit many documents and do not have to answer unnecessary questions. Your loan application is processed quickly and can be done completely online these days. Identification is done via video on your laptop or smartphone. Some lending institutions want to see your account activity and require some scans. But everything can be done from the comfort of your couch and you don't have to take paperwork to the post office. Thanks to the electronic processing, your loan application can also be processed immediately and you will receive an answer within a few minutes. Your money will be disbursed very quickly to your account. With some credit providers, the disbursement of the instant loan is made on the same day.

As you can see, when there's a need, an instant loan can quickly help you out of a jam. You only need to submit all the documents and then wait a short time for approval. Once you have received approval for your instant loan, the lending institution triggers payment of the loan. You will receive your money in the best case on the same day on your account.

Instant loan and installment loan – what are the differences?

A classic installment loan differs little from the instant loan and the boundaries are fuzzy. A characteristic of an instant loan is that they are used to bridge a financial emergency. That is, if you can't wait until your next payday. With the next salary, however, you can repay a large part of the instant loan again. Therefore, the terms are short. Most lending institutions have limited these to one to two months. The loan amounts are also rather low, ranging below 1,000 euros. There are loan providers who offer you an instant loan without interest. This is a marketing tool with which the credit provider wants to convince you of its offer and service. You can test it for free, so to speak, with an instant loan. So if you see an instant loan with 0% interest offered, this can be true and not a dubious trick.

The instant loan is suitable for short-term and unexpected expenses such as repairing a broken cell phone, paying a bill or patching up your car.

The classic installment loan has higher loan amounts up to several hundred thousand euros and the term extends up to 10 years. It is the loan we apply for major purchases, renovations or a new kitchen.

Instant loan

Apply for instant credit on the internet with schufa

If you have a record with schufa and your credit score is not so good, an instant loan can still be applied for. However, your chances are a bit worse and not all credit institutions will offer you an instant loan. However, there are numerous credit providers who will approve your instant loan despite schufa. Compare the credit providers carefully and in case of doubt, you can apply for your instant loan at several credit institutions. In the end you accept the best offer. The also makes sense, because some providers make the terms of the offer dependent on your payment history and therefore you have to pay more or less interest.

But do not forget that you have to pay back an instant loan relatively quickly. Be sure to stick to the agreed upon term. Then most credit institutions charge high interest and fees for the delay. Do not give in to the temptation to borrow a little more money than you need, because at the end of the term the full amount must be repaid.

Requirements for an instant loan

Each credit institution has slightly different requirements for lending and therefore it is worthwhile to apply to another credit provider for his instant loan, if you have already received a rejection from a credit provider. The criteria are very different and it may well be that you are rejected by one credit institution and receive an approval at the next one.

The requirements you must always meet when applying for an instant loan: