Strictly speaking, express loans are not a separate type of loan. The application for a 24-hour loan is usually made on the Internet, ie via an online loan application.
24-hour credit – financial magazine and financial guide
Processing a loan at your own bank often takes far too long, so you have to look for cheap and quick options. A very good option here is the network, since the conditions are often significantly cheaper and you arrive with a so-called 24-hour credit also very quickly to the correspondingly necessary liquidity.
The 24-hour credit guarantees a credit commitment within one day, which means that an order in this regard can usually be announced immediately on the Internet. However, such rapid financing is subject to some restrictions, since the loan amount can often amount to a few months’ salary.
For this, the conditions for the use of ¼fung are reduced, so that a binding feedback from the house bank can be made within 24 hours. With a 24-hour credit over, however, one must accept that the interest rates are slightly higher than a conventional online credit.
The reason for this is the rapid settlement and limited credit check, which represents a higher exposure risk to the lenders and accordingly higher. Therefore, it is advisable to make the term as short as possible in order not to increase the costs too much. For a 24-hour loan, your own running money and the Schufa information that you, as a potential borrower, must have agreed to get the 24-hour loan, is mainly used as collateral.
If you have satisfactory figures, you have the door to a fast and flexible financing option.
Applying for a 24-hour loan is usually done on the intranet. The 24-hour credit, as the title suggests, is processed, approved and paid quickly. A 24-hour credit usually comes from Switzerland, which is why it is also known as Swiss credit. The Swiss credit institutions or lenders do not require Schufa information from the borrower, but nevertheless make certain requirements: there must be no residual debt in Switzerland or at Swiss credit institutions and the applicant must be in a fixed and permanent employment relationship that has been in existence for at least six months or depending on local currency, has existed for at least a year.
The loan approval does not take into account claims and unpaid loans from Germany – this is what makes the 24-hour loan, also known as express, instant, lightning or express credit, so attractive to most people. But the risk of not getting back the borrowed capital can be well-paid by the lenders with immediate credit.
This leads to a high annual percentage of costs, hidden commissions or generally high costs and costs of loans. In addition to the Swiss loan, there are many direct banks in Germany, which now also offer a 24-hour loan in the form of a quick or instant loan. But as a borrower, one should not make the mistake of spelling out the term 24-hour loan.
Because in most cases it is not possible to have the loan amount available within 24 hours of the application, which is technically not possible. Because direct banks, as frequent lenders, do not have liquid assets, the “disbursement” of the loan can only take the form of a transfer to the borrower’s account.
The loan application must first be dealt with and the signing of the loan agreements is required. Therefore, even with a 24-hour loan, it can take a good while for the borrower to dispose of the loan amount.