A time-limited offer attracts or damage to the roof requires immediate action – only the financial means are missing. What can then take several days or weeks with a classic installment loan, happens within one or two days with an instant loan. In the best case scenario, you will even have the money you need in your account on the day you request and approve the loan.
The contents of this article:
Quick instant loan comparison in three steps
To find the best instant loan for your needs, use Verivox’s online comparison calculator and follow the three steps below:
- Enter the required loan amount, the term and, if applicable, a purpose in the form and send it off. The following overview lists all possible loans including flat-rate conditions, for example the best possible interest rate with excellent creditworthiness. The list allows you a first impression and an instant loan comparison.
Tip: Set the “Online identification” filter to ensure that you only receive offers with super-fast processing. - Select the best offers and use the form below to contact the lenders for an individually tailored loan offer. The bank already checks your creditworthiness here and, in the best case scenario, issues an immediate approval.
- Compare the different offers. If you decide on an instant loan from the comparison, conclude the contract online. How this works exactly and why the instant loan lives up to its name can be found in the following paragraph.
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What makes the instant loan so fast?
Compared to classic installment loans, where application forms, credit checks and other important documents are sent by post, the instant loan relies on fully digital processing. The turbo is switched on in four specific places:
The digital account view
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 a short-term live insight into your online salary account. Incoming and outgoing payments are analyzed automatically, for example regular incoming salaries, and the lender immediately decides whether you will receive a loan or not. In this context, there is often talk of an immediate confirmation.
Upload documents
When it comes to preparing a specific loan offer, banks usually require additional documents from you that provide information about your financial situation – for example, salary statements, sometimes also current income tax assessments (for the self-employed) or employment contracts. The bank will tell you exactly what is required. In any case, with instant loans, you can easily upload the documents online and there is no need to send them by post.
Video instead of post identity
The Money Laundering Act stipulates that you must clearly identify yourself when concluding a contract. While the classic route leads through a post office or directly to the bank branch, the 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 a suitably trained employee, who in turn officially confirms your identity.
Digital Signature
Immediate acceptance and immediate payment
In the instant loan comparison you will come across two terms again and again: the instant commitment and the instant payout. In order not to be disappointed – for example because the payout is taking longer than expected – it is helpful to know the difference.
Instant Loan Comparison: What To Look For
Since instant loans are usually classic installment loans, you should – in addition to the speed with which the disbursement is made – pay attention to a few basic things when comparing. This includes the following points:
- How high are the (effective) interest rates? The APR includes not only the interest that you have to repay in addition to the actual loan amount, but also any fees. The interest rate depends on your personal creditworthiness, but is different from bank to bank.
- What fees are there in addition to borrowing interest? For example, in the event of an early repayment of the loan or a debt rescheduling?
- Are payment breaks and / or special repayments possible? So you are flexible if you have more or less money than planned.
Ignite the turbo: what you can do yourself
Even if the targeted instant loan comparison only takes turbo loans into account anyway, you can do a few things yourself to get your money (even) faster:
- Prepare all the documents. For example, salary slips, bank statements or employment contracts – in digital form.
Important: Do not redact any information on the documents, as this usually leads to a rejection of a request or you have to submit the documents again and not redacted. - Avoid typing errors and inaccurate information. Nothing is more annoying than when documents have to be revised again or reissued.
- Apply for the smallest possible loan sums, as the hurdles and therefore the test effort will be lower. Small loans with immediate payout are also ideal, by the way Loans for students, trainees and other people with an uncertain financial situation.
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