Various credit institutions offer online loans with instant approval. There are significant differences in fixed interest rates, installments, with or without Credit Bureau entry, hidden costs, terms, possible loan amounts and restrictions.
Online loans with instant approval
The probably most important and decision-making difference of the credit institutions is the offered interest rate. It is advisable to take a closer look and compare well. As a rule, there is no limit to the desired loan amount, but you should not underestimate or overestimate, after all, you don’t want to have to apply for a loan again immediately or generate too much monthly debit from this installment loan. Online interest rates are between 2% and 8% APR. The first question is now “What is an effective annual interest rate?”
Effective interest rate
The effective annual interest rate clarifies the costs actually incurred when taking out a loan and is stated in percent. Loans can only be compared if the general conditions are roughly the same.
The term of the installment loan mostly depends on the loan amount, but most banks offer a term of 60 months.
How to apply for instant credit online loans
The easiest way is to look for comparison portals and compare several loans with each other. The first provider is not always the best. Accurate reading and comparison is essential here.
For most online loans with an instant approval, the loan request is initially non-binding and free of charge. For the loan request, information about the person, income and account details must already be entered, but the request with the amount of the desired amount of money is not yet a conclusion. A credit agreement is generally only carried out as soon as the bank that is supposed to pay the loan has accepted the loan, after which the printed application is sent back by Post-Ident.
Online loans generally do not generate a negative Credit Bureau entry or do not look up existing Credit Bureau entries. After the application has been received by Post-Ident at the bank, the desired amount of money will be paid out to your account. In most cases, installment payments start one month later.
Credit to fulfill his wish
After the loan amount has been paid out, nothing stands in the way of fulfilling your wishes. The new car, the luxury vacation trip or the wardrobe full of new clothes – with these cheap and safe loans you can fulfill your dreams.