The words instant loan and instant promise have different meanings and refer to different facts when borrowing. The instant approval says that the decision to grant credit is made immediately after the loan application is submitted. The immediate payment only means that the requested loan amount is in the account after two bank working days at the latest. A Credit Bureau-free instant loan with instant approval is very popular.
Immediate acceptance – how safe is this?
A Credit Bureau-free instant credit with instant approval has the advantage that the applicant is informed of the approval immediately after the loan application has been submitted and has the money in the account within two bank working days. Since a Credit Bureau-free instant loan is mostly paid out by a foreign bank, for example the so-called Agree loans, the processing time can be extended by public holidays. For this, the immediate approval is made subject to the information in the loan application being confirmed.
When issuing an instant loan without Credit Bureau, the German banks partially waive proof of income or similar receipts, while the Agree banks always request them to grant a Credit Bureau-free loan. This is understandable, because for banks this proof is the only evidence of creditworthiness. The quality of the instant loan approval is based on the fact that the credit check is carried out by the lender himself. This is done according to their own current award criteria.
Who receives the Agree bank instant loan?
Most of the time, a Credit Bureau-free instant loan with an instant commitment is only given to employed borrowers, while only a few federal institutes accept self-employed and freelancers as customers. Most banks also limit the amount of loans without Credit Bureau request. However, a Credit Bureau-free instant loan does not mean that the taking out of the loan is not reported as a credit guarantee. Rather, a Agree bank must report all lending to the USD. This is a similar facility to the German Credit Bureau.
In spite of negative Credit Bureau entries, borrowing is still possible in Switzerland, because the federal credit protection department of course does not receive any data from loans that were taken out in Germany. A Credit Bureau-free instant loan with an instant commitment usually comes from a credit broker. It should be ensured that this works seriously and that no costs are incurred before the loan application is signed, for example.
A guarantor or other collateral can help with the application for the loan
Another possibility that a Credit Bureau-free instant loan with an instant commitment is granted is a guarantor. This significantly reduces the risk of a loan default for the bank, because the guarantor undertakes to pay the installments due in the event of payment difficulties on the part of the borrower. For this reason, the guarantor must have an impeccable Credit Bureau file and sufficient income to be able to meet the obligations resulting from the guarantee. A loan can also be secured with other collateral, for example with a property or a capital-building life insurance policy.
Personal loan as an alternative
If you are in a financial emergency and cannot get a loan, you can try to get a loan in your private environment. Maybe someone from your family or friends is willing to lend this amount. In the best case, this happens without interest and without red tape. Nevertheless, even within the family, a contract should be drawn up in which the loan amount, the installment amount and any interest are recorded in writing, so that both sides are secured and no disputes arise later.
If you cannot find anyone in the private environment who can or would like to lend the money, you still have the option of looking for a personal loan on the Internet. More and more private individuals are now making their money available here in order to generate a return. You have to ask individually whether a Credit Bureau-free instant loan with an immediate acceptance is possible.
Comparison of the offers is essential
When looking for a cheap loan, it is not possible to talk about a good offer. It always depends on the personal situation of the borrower. When choosing a loan, care should be taken to ensure that the loan is tailored to individual needs. A credit comparison on the Internet is highly recommended in order to find suitable providers with fair conditions easily and quickly.
It is only through a credit comparison that it is possible to choose a low-priced Credit Bureau-free instant loan with immediate approval without having to forego important services. The comparison is very simple and is also non-binding and free of charge. After the required credit data has been entered, the various providers are listed within a few minutes. Now it is possible to carefully examine the offers and choose the best loan.