Limited supply of time to attract or damage the ceiling requires immediate action – only financial means are lost. What can take several days or weeks later with a classic installment loan, happens in a day or two with an immediate loan. In the best case scenario, you will have the money you need in your account on the day you request and approve the loan.
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A quick comparison of an instant loan in three steps
To find the best instant loan for your needs, use Verivox’s online comparison calculator and follow these three steps:
- Enter the required loan amount, term and, if applicable, an item in the form and submit it. The following overview lists all eligible loans including fixed rate terms, for example the best possible interest rate with excellent creditworthiness. The list gives you a first impression and an instant loan comparison.
Advice: Set the “Online Identification” filter to ensure that you only receive offers that are highly processed.
- Select the best offers and use the form below to contact the lenders for an individually tailored loan offer. The bank is already checking your creditworthiness here, and at best, it issues instant approval.
- Compare different offers. If you decide to get an immediate loan from the comparison, then conclude the contract online. Exactly how this works and why the spot loan matches its name can be found in the following paragraph.
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What makes the instant loan so fast?
Compared to traditional installment loans, where application forms, creditworthiness certificates, and other important documents are mailed to you, the spot loan relies entirely on digital processing. The turbo is operated in four specified locations:
Digital account display
Make an instant loan comparison and contact one or more providers, in the first step they basically check your creditworthiness. To do this, you can give the bank direct short-term insight into your online salary account. Incoming and outgoing payments are analyzed automatically, for example regular incoming salaries, and the lender immediately decides whether or not you will take out a loan. In this context, there is often talk of an immediate confirmation.
When it comes to preparing a specific loan offer, banks usually require additional documents that provide information about your financial situation – for example, salary statements, and sometimes also current income tax assessments (for the self-employed) or employment contracts. The bank will tell you exactly what is needed. Anyway, with instant loans, you can easily upload documents online and no need to mail them.
Video instead of posting an identity
The Money Laundering Law states that you must clearly identify yourself when entering into the contract. While the classic path leads through the post office or directly to the bank branch, an instant loan saves you valuable time again: Videoident is the name of the process in which you identify yourself using your smartphone, tablet, or PC. In a video chat, you identify yourself online to an appropriately trained employee, who will formally confirm your identity.
Immediate acceptance and immediate payment
In the Instant Loan Comparison, you’ll come across two chapters over and over again: Immediate Commitment and Immediate Payment. In order not to be disappointed – for example because the payout is taking longer than expected – it helps to know the difference.
Instant loan comparison: what to look for
Since spot loans are usually traditional installment loans, you should – in addition to the speed at which the payment is made – pay attention to a few key things when comparing. This includes the following points:
- How high are (actual) interest rates? The APR not only includes the interest that you have to pay back in addition to the actual loan amount, but it also includes any fees. The interest rate depends on your personal creditworthiness, but varies from bank to bank.
- What are the fees in addition to the interest on borrowing? For example, in the event of early loan repayment or debt rescheduling?
- Are private payment breaks and / or repayment possible? So you are flexible if you have more or less money than planned.
Ignite Turbo: What Can You Do Yourself
Even if the targeted spot loans comparison takes turbo loans anyway, you can do a few things yourself to get your money (even) faster:
- Prepare all documents. For example, pay slips, bank statements, or employment contracts – in digital form.
Important: Do not revise any information on the documents, as this usually leads to the application being rejected or you have to submit the documents again and not revise them.
- Avoid typing mistakes and inaccurate information. Nothing is more annoying than revisiting documents again or reissuing them.
- Apply for the smallest possible loan amounts, as the obstacles will be and so the testing effort will be less. Incidentally, Pay As You Go Small Loans are also ideal Loans for students, interns, and other people in uncertain financial situations.
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