Some bills or purchases do not allow deferral, so consumers may need money quickly. The money is not always available, so that a lightning loan can be thought of in a few minutes. Few know exactly what is behind this loan.
What is a lightning credit in a few minutes?
Many think that they can go to the bank and take out a lightning loan in a few minutes. But this is not always the case, because if you take out a loan from your house bank, for example, you will not receive this special loan. This is mainly due to the fact that the customer must be checked for creditworthiness and the customer must first make an appointment with the bank.
A lightning credit in a few minutes can often be taken out on the Internet. However, it must be ensured that the money is not paid out within a few minutes, but that the application can be carried out within a few minutes. In addition, it only takes a few minutes for the applicant to find a suitable offer in the form of a loan comparison.
No bank, savings bank or direct bank transfers the money within a few minutes after applying. Rather, the application will be processed within a few minutes. So if you need money quickly, you should pay attention to some things so that they can accelerate the payment.
How can the application be speeded up?
To get a lightning credit in a few minutes, an application should be submitted in the morning. This gives the bank all day to take care of this application and the payment. Not infrequently, the payment will then be in the account with an express transfer in the afternoon.
Furthermore, the borrower should have all documents ready, because this way the creditworthiness can be checked immediately and the lender does not have to wait long for these documents. Copies of proof of income and ID should always be available.
Direct banks and also the house banks check the Credit Bureau for negative entries. This can take a few hours, so the borrower has to be patient here. If it is not noticed negatively, the loan application will be quickly approved. However, if the customer has a poor credit rating, security must be provided.
Borrowing at Risk – What Can Be Done
There should be collateral so that no loan rejection occurs. For people who do not have a good income, this is a condition that must be met. Anyone who can offer a surety as collateral will not jeopardize borrowing. It is different with the unemployed or those who have no guarantor.
The situation with unemployed people is that any application would be rejected. Banks demand income, even if it comes from part-time employment. Since the unemployed receive social benefits from the state, this is not counted as income and therefore no loan is granted.
In the case of low-wage earners, part-time employees or trainees, collateral comes into play. In addition to a surety, the bank can also offer the customer life insurance. However, this would always result in additional costs that would not be worthwhile for small loans. Some banks also issue overdrafts where no further collateral is required. The disadvantage here is that the overdraft facility has a high interest rate, so that the overdraft facility will become very expensive.
If you have too many entries in the Credit Bureau and your borrowing is at risk, you may have some entries deleted. Especially when it comes to entries that come through a collection company, can be deleted. However, this assumes that the bills have been paid. Each entry less means that the creditworthiness can increase and thus the chances of a loan also increase.