Sometimes it just has to be quick: the special offer for the fitted kitchen ends in a few days, or you are in a financial emergency that needs to be remedied at short notice. Unfortunately, the mills of the banks often grind slowly – this is especially true for traditional installment loans from traditional banks, where the creditworthiness is checked in detail and can often go on for several days or even weeks, depending on the type of financing.
Apply for an express loan without Credit Bureau information
On the Internet it is possible to apply for an express loan without Credit Bureau information – the providers of these loans boast that they grant loans with immediate approval. However, you should not be fooled by this name at first, because even with these loans it is not the case that you receive the loan immediately after submitting the application.
Rather, the name “urgent loan” means that the application and loan approval process is faster than with conventional branch bank loans. This is true insofar as the providers of urgent loans without Credit Bureau information do not collect Credit Bureau income to assess the creditworthiness of the borrower.
It is common for the loan application to be filled out online and either sent directly online, or printed out after it has been filled out and sent to the bank in question using the PostIdent procedure.
Submit all documents needed
In addition, the applicant must submit some documents together with the loan application, such as bank statements and pay slips for the past three months – on this basis, the bank then assesses the applicant’s creditworthiness and decides whether a loan approval can be granted.
If a loan approval is given after the review, the borrower first receives a contract, which he must sign and then send back – at least this is common practice for most banks, and only then is the actual loan amount paid out. Payment is usually made to a specified normal checking account or is paid out in cash – this requires the borrower to go to the post office counter.