In some situations, you quickly need an amount of money that goes beyond what is available monthly. If the car breaks down, the washing machine goes on strike or the refrigerator gets out, many people have no choice but to take out a loan in a short time. But what does “in a short time” actually mean? And what product is behind it?
What is an express credit?
A loan in a short time is usually a smaller loan with a maximum of a few monthly salaries, which is approved particularly quickly. Those who do not have an extremely good line to their adviser at the house bank usually apply for such an express loan from an online bank. This often makes a preliminary decision about the loan within minutes or even seconds after the online application. The payment is made accordingly quickly: The required money can be available within 24 hours.
Terms and conditions for a loan in a short time
In order to receive an express credit, some requirements have to be met. For example, the applicant must have a regular income of a sufficient amount, be of legal age and a German citizen. Since the providers are internet banks, express loans are often available at favorable terms that some branch banks cannot offer due to their administrative costs. Of course, the following applies: Applicants with the best credit rating receive the best conditions.
Apply for a loan in a short time
Applying for an express credit is easy. After a comparison of offers, which determines the cheapest and best provider, you simply submit the loan application online. You have to provide information about your income situation and creditworthiness. On this basis, the decision is made as to whether the loan can be granted immediately or not.
Particularly fast providers give the money immediately after approval, so that it is available after 24 hours at the latest. The repayment is the same as for a normal installment loan: in previously agreed fixed installments with a fixed interest rate. Good providers allow early repayment of the total debt and, if necessary, a change in the rates if the income situation changes.