Many credit decisions have to be made quickly in order to be able to respond effectively and, above all, promptly to daily events. Many banks do not understand this and like to spend more time approving a loan. Finally, it should be examined exactly who applies for a loan and whether this person is also creditworthy.
But as praiseworthy as this exact work may be, it is annoying for the borrower. Because if he needs a quick loan decision, he just does not want to wait one or more days for it. In the best case, the loan should be available in 5 minutes.
Fast Loan for the Burrowers
A loan in 5 minutes may be a pious wish of many borrowers. However, this wish can only be put into effect to a limited extent. Because very few loans allow such a fast processing and release.
The fastest way to get the money you need is to use your own dispo. This is usually connected directly to the checking account and is always available as a call-off loan. The amount of credit granted and the amount of money available as a loan in 5 minutes depends, among other things, on the level of income. However, it should be enough for a small loan.
Even if the money is available immediately at the dispatch, it should not be forgotten that this small service of the bank can be quite expensive. Because the Dispo beats with pretty high interest to book. 15 percent and more are welcome. For the borrower, this means that he should bring about as soon as possible a compensation of the Dispos, so as not to increase the costs too much. Because then you would have to look for an alternative loan offer, which compensates for the costs and reduces costs.
Consumer credit is also available relatively quickly and can therefore often be regarded as a 5-minute loan. However, as this is a restricted loan, the money will not be paid in cash or transferred to an account. Rather, it flows directly into the payment of the items purchased with the help of consumer credit. On this basis also works a car loan, which therefore also can be relatively quickly available.
Simple Installment Loan-Consumer Credit
If you opt for a simple installment loan, you should select a small loan amount to use a loan in 5 minutes. Because the larger the loan amount, the more time the bank needs to decide on the lending.
On top of that, it is important that the installment loan be taken directly to a local bank. If you try this over the internet, you will quickly realize that there is unfortunately no credit here in no time. Even if the loan offers on the Internet are usually better than the banks on the ground, but the personal contact is missing over the Internet, which unfortunately does not allow a quick processing.
However, if you apply for the loan from the house bank or another bank, you can directly audition and hand in all documents personally. If it is a small loan, the bank will check the application immediately and at best approve it directly. The money is then available within a few minutes and can be used for all kinds of things. Because an installment loan is not earmarked and therefore the bank can not determine what the money should be used for.