Good credit: cheap offers also with immediate transfer

Are you looking for a loan quickly and without complications? Are the many offers on the Internet for an emergency loan just right? Everything seems very simple: fill out the application, conclude the contract and immediate transfer follows. The money is in the account within a few hours.

Do not be misled by such or similar advertising. It is not as simple as it is sometimes portrayed. When direct banks offer urgent loans, they do not necessarily involve particularly fast loan processing.

Above all: do not act hastily. Compare different offers and, if necessary, get advice from experts. Credit comparisons work with partner banks where you can take out quick installment loans. To do this, however, you have to meet certain requirements.

Now read the most important details about so-called urgent loans and some particularly cheap offers of fast installment loans.

What is a Good Credit?

What is a Good Credit?

An emergency loan is not a special type of loan. It is nothing more than an advertising slogan for normal installment loans offered by direct banks on the Internet.

Unfortunately, advertising loaves are more connected to the expectations of potential customers than to describe a factual situation. Advertising with the Good Credit is one such case.

Good Credit is more of a moderate advertising term from the early days of internet loans. Today you are sometimes much more aggressive: lightning credit, instant credit, instant transfer, instant payment, 1-hour credit, these are common advertising terms today.

Target groups for urgent loans

The target groups are customers with an urgent credit requirement. The desire for quick liquidity can be based on various reasons.

Perhaps there is simply not enough money to finance a larger, currently particularly inexpensive purchase at a special price. Maybe you only need a small loan for a spontaneously planned vacation. Or the reason is a real liquidity bottleneck often associated with creditworthiness problems.

This target group, in particular, feels particularly attracted by advertising with Good Credit. And it is precisely this target group that cannot expect a quick credit decision and a quick payment of the loan.

Instant credit, instant payment, and instant transfer

Instant credit, instant payment, and instant transfer

Over time, instead of the term Good Credit, the product description instant credit has become common.

Even today, in many cases, these are completely normal installment loans, which can be applied for online and are ultimately legally concluded using a PostIdent procedure after the contract documents have been sent.

The cumbersome shipping by post will usually take a few working days. So what is “immediately” with such online loans?

First of all, the preliminary immediate decision. Customers submit their application form online and, often very quickly, receive a decision as to whether they can pursue their loan requests at all.

With the instant decision, customers definitely know that there is a credit opportunity, but not that they are getting the loan they want. The bank also promises immediate payment or immediate transfer of the loan amount.

However, this does not mean that the payment to an account is made immediately after submitting the credit request.

Rather, the payment of the loan amount takes place in connection with the final examination and the signing of the contract by the bank after the bank has received the documents from its customers by post.

Sometimes it is even only promised that the “immediate payment” will be made within 24 hours after the final examination. In this respect, one can speak of a 24-hour credit.

It is obvious that this type of instant loan, which is the original form, often takes longer than a normal installment loan with the house bank. With luck, the money will be in the credit customer’s account after seven working days.

Process shortening due to modern technology

bank

Of course, the direct banks also knew that urgent loans, instant loans or even lightning credits were nothing more than a little advertising lie. Direct banks therefore gradually went over to using modern techniques to shorten procedures.

Lending procedures can be significantly shortened if the postal route is eliminated. The solution is the optional offer of Videoident and Document Upload.

The identity check required by law is carried out in the course of a video conference. In the end, the customer usually receives an identity code, which he can use to upload the necessary documents.

This method can be chosen by customers who have a computer with a camera. A smartphone is very suitable. A stable internet connection is important. If you fold the video ID and upload documents, you save 2 to 3 working days. The payout period is reduced accordingly.

Digital loan completion

Digital, fully paperless loan completion using a computer is the final step towards Good Credit. We described in a separate article exactly how the account view and digital signature work.

Ultimately, the application process, credit check, and credit agreement are all done in one go on the computer.

After the contract documents have been digitally signed, the bank initiates the immediate loan payment. In this way, the loan amount can be deposited into the customer’s account within 24 hours or 48 hours.

The credit check is carried out by an automated Credit Checker request and the evaluation of bank statements from the current account. Sometimes Credit Checker information is replaced by information from another credit agency.

The digital evaluation of the account statements requires that the customer transmits his access data for the account to the bank using a secure procedure.

Categories
Payday Loans

Payday loan for young workers

The payday loan for young workers has many advantages. First, because it takes into account the specific situation of young workers. The 18-29-year- olds have little professional history and limited finances, their borrowing capacity is necessarily affected.

The advantages of a payday loan for young workers

The advantages of a personal loan for young workers

The payday loan for young workers includes these elements. Therefore, a payday loan allows young workers:

• 100% finance a major expense (eg purchase of a car);
• not having to provide overly large guarantees;
• benefit from attractive interest rates;
• have fixed monthly payments;
• to settle this loan in advance at no cost.

A “young active” payday loan via the loan between individuals

On the Internet, lending between individuals represents a new way of accessing credit, by freeing oneself from traditional lending institutions. The loan between individuals corresponds to the new aspirations of young workers. The 18-29-year-olds, the ones we used to call generation Y, were born and raised with new technologies.

Social networks, media, e-commerce: young workers are ultra-connected and have their consumption habits on the Internet. Crowdlending is part of this trend. On an online platform, it is also possible to complete a loan dossier between individuals 24 hours a day and 7 days a week! Collaborative credit also corresponds to the sharing values ​​of Generation Y, which plays a major role in the emergence of collaborative consumption.

A collaborative credit platform thus allows borrowers to benefit from savings invested by other individuals, to finance their projects. The platform plays the role of “trusted third party”. This new mode of consumption makes it possible to give a more human dimension to payday loans, and this is reflected in the cost of consumer credit. Because a credit platform between individuals is distinguished by reduced costs compared to a traditional lender.

Get a payday loan for young active people thanks to Fine Bank

Get a personal loan for young active people thanks to Good Credit

Created in 2011, Fine Bank is the first web credit platform that connects borrowers and investors. This start-up – populated by young professionals – has revolutionized consumer credit to the point of being approved by the prudential supervisory and resolution authority of the Good Finance.

To make finance more responsible, Fine Bank democratizes consumer credit and makes it more accessible and less expensive. Two essential criteria to enable young workers to finance their beginnings in life with monthly payments that do not reduce their purchasing power. A payday loan for young workers with Fine Bank is:

• benefit from a competitive interest rate that is among the most attractive on the market;
• benefit from a clear and unsurprising offer (often, in banking organizations, so-called free options pay off in practice);
• obtain a clear and rapid response (within 24 hours * after receipt of the borrower’s complete file).

Final decision within 24 hours: Upon receipt of your complete file, Fine Bank can reply to you within 24 hours by SMS in the event of acceptance, and by email in the event of refusal.

Credit without pay slip – provide collateral

Typically, lenders require submission of a pay slip because they want to verify the stated income. In some cases, the loan is issued without a pay slip because there is other security or the desired quick processing precludes a careful examination of the wage statement.

Waiver of wages due to other collateral

Waiver of wages due to other collateral

With the overdraft facility, the bank effectively grants a customer a credit without a pay slip in the checking account. The regular incoming payments on the account, which do not necessarily consist exclusively of wage payments, serve as security. Most financial institutions have automated the calculation of the overdraft facility and do not differentiate between the reasons for incoming payments.

Even when applying for a credit card, the wage certificate is only requested in exceptional cases. Credit card applications are one of the few cases in which bank information is also obtained from private customers. In addition, credit card issuers limit the card limit for new customers. If these apply for an increase in good time, credit card companies will subsequently request proof of wages.

Even a car loan can be obtained from the dealer and the car bank without payroll; However, the prerequisite is that the buyer pays about a third of the purchase price as a down payment, thereby proving his good financial situation. The classic loan without payroll is the pledge loan. The income of his customers is unimportant for the pawnbroker, because only the deposited deposit serves as security.

No payroll to simplify processing

No payroll to simplify processing

Mail order companies and some supermarkets usually allow their customers to pay in installments without submitting a pay slip, and they deviate from this for large sums. As a modern loan without payroll, online banks offer an instant loan. Here, the submission of income receipts is waived due to the fast processing promised to the customer, because the money should be received in the customer’s checking account within two bank working days.

Both the waiver of the submission of the wage statement and the quick loan processing can be paid for by financial institutions, so that an immediately processed and quickly paid out loan without a pay slip is somewhat more expensive than a loan with normal processing time. So that the borrower does not pay too much interest, he compares the offers from different banks.

It should also be borne in mind that lending without payroll does not mean that the bank does not demand income. Financial institutions must always inquire about the amount of the wages; in the case of a loan without a pay slip, the bank relies on the accuracy of the information provided by the borrower.

For them, there may be a temptation to declare an income that is too high in view of the fact that the pay slip is not requested. In this case, the loan is likely to be successful, but the incorrect information will result in criminal consequences if the loan is not repaid in accordance with the agreement.