Instant loan without Schufa in 24 hours – Serious!
E in credit should be processed as quickly as possible and disbursed promptly. But the mills of the banks grind slowly and the Schufa also has a word to say when taking out a loan. Many customers are therefore interested in the instant loan without Schufa, which is available within 24 hours. How the whole thing works and how fast the money is really on your account, we have reviewed in the following guidebook.
- Requirements for the instant loan
- Advantages and disadvantages
- Loan comparison of online banks
- Application and payment
- Interest and conditions
The instant loan is the right choice when things really have to move fast. However, this refers not only to the disbursement. You need an uncomplicated application, a quick check by the institution and an immediate payment to your checking account – preferably within 24 hours. The regular processes of course require much more time. Who needs a credit, a good financing concept must present and also the repayment to be able to guarantee. A short-term financial bottleneck or an unforeseen situation still sometimes require the capital to be made available as quickly as possible.
Alternative designations – also called express loan or lightning loan
An instant loan is therefore a loan that can be granted immediately and in a flash. It is always used when the financial resources are needed as urgently as possible. Therefore, you will also encounter the terms express loan, small loan, lightning loan or quick loan during the search. A real difference in the definition, however, there is none. In fact, it is not a standalone financing product. Rather, behind all designations hides an installment loan, which is characterized by its short processing time and immediate disbursement.
Note: So all the above loans could be purely theoretically also in 24 hours. The credit decision must be made only on the day of the application and the money is transferred as soon as possible to your personal account.
Advantages and special features – not only immediate payment
As the name suggests, the immediate action of the banks and the quick disbursement of the money are the most important criteria on the loan. You can get this financing concept both through branch banks and direct banks on the Internet. The application is designed to be as simple and transparent as possible, so that it can be filled out in a few minutes. Subsequently, a commitment is made and the loan agreement can be printed out and signed. If there is nothing to complain about the creditworthiness of the applicant and the data, the money is transferred by lightning transfer to your checking account.
The term, the loan amount and the interest rate vary of course and are determined by the lender itself. A comparison is therefore advisable in order to obtain the most favorable offer for this point in time. In addition, the banks should act as transparently and understandably as possible, so that you as a borrower do not have to fight through a pile of papers. Only with a quick and simple loan application is an immediate disbursement possible. But such a loan does not have to be thoroughly checked first? How does it come then to such a fast approval? – This is where Schufa comes into play.
Instant credit without Schufa – still possible
A process of credit inquiry does not normally bypass Schufa. It presents itself as an institution of credit assessment and stores the payment history of customers in various entries. If these entries are negative or conspicuous, this has an impact on borrowing. In most cases, the bank rejects the request completely. Annoying of course, if it should go nevertheless with the credit as fast as possible. The only person who can help you is a guarantor, who will take responsibility for you if you fail to repay the money.
An instant loan without Schufa comes without the query and offers a quick commitment. However, the providers on this terrain are somewhat sparsely populated. With the right hand and a proper comparison, you will be able to find suitable direct banks. It is only important that you still have an overview of your finances even with negative Schufa. The new express loan must not be taken as an additional burden and is only considered if it is really needed urgently.
Note: Most loan applications are processed without Schufameldung. Especially small loans up to 500 euros are then not entered in your file.
Target group – loans in 24 hours also for rescheduling
As already mentioned, a new instant loan should not burden you even more or drive you into financial ruin. Practice shows: those who need a payout quickly also spend the money immediately. Big wishes can be better realized or expensive repairs can be taken care of. There are many exceptional situations in which an instant loan should be disbursed in 24 hours. In some cases, services or goods can not be used if the necessary cash is missing.
Tip: Some customers use the option directly for debt restructuring. So that no two loans are paid off at the same time, the new instant loan repays the old installments and you keep a manageable repayment schedule.
In principle, the target group for such an express loan in 24 hours is very mixed. Both the unemployed, employees and the self-employed make the requests. Sometimes even pensioners are dependent on the lightning loan, for example, if an urgent repair to the home must be taken over or an age-appropriate conversion takes place. So there is no special group, which is always aimed at such a loan. The fact is: the borrowing should be justified and the benefit measured exactly. An instant loan for a quick and expensive vacation trip is not worth it in any case. It is also important that the requirements are met and all proof is provided. We will go into these points in more detail in the following sections.
Instant loan framework – 500 to 15.000 euros
Who needs an instant loan in 24 hours, certainly has a fixed sum in mind. However, the credit limit is given differently by the institutions. The smallest instant loans are from 100 to 1.000 euros to get. They have a short credit period and can be paid off quickly. With a low sum are usually less evidence to provide.
Higher sums up to 15.000 euros and more can also be accessed through an instant loan. The approval depends on the regular income and the desired term. The more monthly income you can show, the more likely a direct bank will agree to your request. Proof of income is sometimes more important here than the credit check at Schufa.
Note: Most banks limit the loan amount to a four-digit range. Who wants to go higher, must often expect longer waiting periods.
Requirements and procedure – provide various evidence
The most important prerequisite for taking out a loan is, of course, a good credit rating. Far away from the Schufa many customers would like to ignore – but it does not work. Most banks only grant a loan if they can rely on the customer's repayment. Therefore, depending on the institution, different evidence is required. Among the important requirements:
- regular income
- positive Schufa
- Age of majority
- Residence in Germany
- Valid employment contract (longer than 3 months)
- German bank account
- evtl. Guarantor
So you should show as comprehensively as possible that you are a credible and willing to pay borrower. The better the picture of yourself, the lower the bank classifies a default risk. Any weaknesses, such as a negative Schufa entry, can be compensated for with proof of income. For many providers, a medium credit rating is sufficient, so that the probability of default on repayment is less than 2 percent. The bank can then be sure that it will also get its money back. In some cases, in addition to proof of income, bank statements are required.
Procedure – loan application in a few minutes
Many direct banks and providers advertise with a process in a few steps. Loan application in two minutes? This should really not be a problem with some portals. It is important, however, that you have done proper preparatory work and that the required evidence is in your area. The following procedure is then to be expected:
- Specify loan amount and time in the application. All information should be credible and correct. The proofs are to be attached directly as scan. Often a precise purpose is required.
- The application is automatically received online and must be checked. Here, many banks do not perform a credit check.
- If the bank confirms your application, you have to identify yourself again via an online procedure. For this, you need a meaningful document, such as your identity card. Afterwards no more examination is necessary.
- The amount of money can be instructed. A quick flash transfer, however, usually costs an additional fee.
Timing of the application – mainly on weekdays
Besides all the requirements, it depends on the right time for the loan application. After all, the banks only work on weekdays and are not always available. At best, you send the loan application from Monday to Thursday around noon. This gives the bank enough buffer to process the application, check it and transfer the money. It is important that all documents are already complete with the application and no more counter-questions must be asked. Additional requested documents always bring a time delay with them. If the weekend is approaching, you can no longer rely on a payout within 24 hours. So the right time for the application is crucial for the time frame until disbursement.
Advantages and disadvantages of instant credit in 24 hours
- Simple loan application
- Transparent procedure
- fast commitment
- immediate transfer of funds
- available as cash
- possible despite Schufa
- Many proofs necessary
- Partly with credit check
- High interest rates
- Processing fees
Providers for instant loans – not only direct banks
Most customers immediately think of online or direct banks when they think of a quick loan. They advertise massively with a short processing time and an immediate money transfer after approval. In order not to leave other alternatives unmentioned, we want to look at all the possibilities in the area of instant credit more closely.
The direct bank / online bank – fast and secure
Probably the best-known variant for an instant loan there is probably about the direct bank or online bank from the Internet. New providers are constantly entering the market, luring their customers with a fast processing time and low interest rates. Do not rely blindly on the offers, but compare skillfully. The conditions and the interest rate are very different. However, some providers do without a comprehensive credit check. Few details are enough.
The house bank – already knows you
Another possible contact is of course your house bank. Here you speed up the process, because the employees know you, call your file and your credit rating is already listed. Short-term decisions can be made about the credit line and conditions. With the fewest house banks, however, this process is possible in 24 hours. In this context, the overdraft facility is more interesting.
The overdraft facility – immediately available
An overdraft facility is immediately available and runs through your normal current account. You overdraw your private account up to a certain amount and pay higher interest as long as it is in the minus. The credit limit is very limited in this form and many users warn of difficult repayment. You can quickly get used to running your checking account in the red and lose sight of the costs.
With a guarantor – low risk for the bank
Particularly fast and easy you get a loan in the framework of a guarantee. This guarantor secures the complete repayment and thus reduces the risk of the bank. You only need to specify the loan amount, duration and the desired use. The review is usually done quickly, if all income documents and requirements of the guarantor are correct. Most banks do not hesitate here also with the disbursement of the money. Finally, there is a double security.
Loan from private – borrow money
Another alternative is the instant loan through a private person. The conditions can be set yourself, provided you know a willing lender. From the family or acquaintances such a loan does not always show up easily. But in return you can count on a quick cash payout. After all, the private person only needs to withdraw the money from his bank account and hand it over to you. Small tip: the search of private lenders can also be done via the Internet.
Loan comparison of online banks
Instant loans sound tempting and advertise a fast process and favorable conditions. However, always look at how favorable the conditions really are and how transparent the provider presents itself. Not only an immediate payout, but also an uncomplicated application is the focus here. Enclosed we have a small comparison table with the most important online banks for you:
- flexible installments
- Identify yourself with Videoident
- Express payout
- Request in 2 min
- Instant approval
- no upfront costs
Disbursement – not always in 24 hours
Most banks advertise of course with a loan in 24 hours. However, this does not mean: payout within this period of time. Who is urgently in need of cash, should read the fine print more carefully. While customers expect an instant payout the following day, providers use a different time frame. Many banks see the loan in 24 hours from the approval of the credit application. So not included is the time in which your loan application is reviewed by the bank. Of course, this procedure can be done quickly and in a few minutes. But it can also take a day or two longer. Who holds exactly to these 24 hours, could be bitterly disappointed in case of emergency.
Express transfer – costs processing fee
Not only the short response time, but also a timely transfer, the providers let themselves pay well. A flash transfer guarantees you a money transfer in 24 hours in most cases, sometimes even faster. For this, a processing fee must be paid.
Interest and conditions – pay attention to additional fees
A loan is of course always associated with fees. Whether at your own house bank or an online loan application – always check the conditions and interest rates. With most providers, there are no upfront costs or fees, so the loan applications are submitted free of charge. If it comes to a refusal of the application, you are at least not stuck with the costs. Also the examination of the application and the execution of the contract are free with many institutes. Otherwise, you should always keep an eye on the processing fees. Hidden costs there are also with the customer account, which must be compellingly put on with the offerer. Account maintenance fees may apply for the period. In addition, an express transfer in a few hours is associated with an expense. If you really want to have the money paid out on time, you should plan a small cushion for the fees.
High interest rates – between 7 and 10 percent
Another important cost factor is the interest. They vary not only between banks, but depend on the current situation and the course of the year. However, an interest rate in the double digits is not absurd and standard for many instant loans without Schufa. Mostly, however, it ranges between 7 and 10 percent. A loan comparison is therefore always advisable. If the banks have nothing to hide, they appear as transparent as possible and let you quickly see the valid interest rate, depending on the loan amount.
Repayment – in 30 to 60 days
The amount of the loan must always be in relation to the repayment. But since it is a quick loan, the repayment is also quite short term. Many conditions provide for 15 to 60 days. By then, the money must have returned to the customer's account at the bank. You choose between immediate repayment in one sum or in two to three installments. If you want to keep the cost of the loan low, you should choose a shorter term anyway.
Financial emergencies happen quickly. Right now you need a certain amount of money in a short period of time. The instant loan in 24 hours helps and can be obtained through various online banks or alternatives. With the right credit rating and all the necessary documents, the disbursement in 24 hours is even realistic, although not all banks enforce this way. Often there will be queries and you will have to wait a few hours or days longer for the money to arrive. In addition, higher costs should be expected in terms of interest and the fee for a flash transfer. For a fast and uncomplicated loan you need in any case a good comparison and must know all the conditions. Pay attention to the ratings and experiences of customers. In most cases, applying for an online loan is even faster than going to the bank branch. You will see within a short time if your application is approved. The only catches are the limited loan amount in the four-digit range and the rapid repayment within 2 months.