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Borrowing Money Instantly: How to Make Money Quickly – Cheap loans in credit comparison.

August 22, 2019 0 Comment


 

There are always situations in which liquid funds are needed quickly. Old bills have been left lying and the visit by the bailiff should be avoided, or there is a short-term bargain that you would not want to miss. There are many situations in which urgently more money is needed urgently than is available. We present all reputable possibilities to quickly get this needed money.

5 ways to fast money:

5 ways to fast money:

  • The instant loan
  • The credit line
  • The short-term loan
  • Loan from private environment
  • The mortgage loan

Anyone who wants to borrow money immediately, can not rely on the usual installment loan. With the installment loan the application is checked, the creditworthiness checked and even with fast processing it takes a few working days. Until the money is paid out, several days pass again.

The instant loan

Features instant loan:

  • Accelerated processing time at the banks
  • Partial lightning transfer possible
  • Often requested over the Internet
  • Favorable annual percentage rate
  • 1,500 to 50,000 USD loan amount
  • Credit term between 12 and 36 months

An instant loan is a subcategory of installment credit. Even with the instant loan, there is a processing period at the banks. It is therefore not possible with the instant loan to get “directly” money into the hands. This period is used to verify creditworthiness and creditworthiness. In the case of instant loans, however, the bank guarantees an accelerated processing.

Occasionally, banks also offer a lightning transfer. This also speeds up the period from credit approval to final payout. However, this additional option causes costs.

The instant loan can not quite live up to its name, because “immediately” the loan is not paid. Fitting would be the name “accelerated credit”, however, the interest rates are the same as the normal installment loan, without surcharges.

Advantages and disadvantages at a glance

Advantages and disadvantages at a glance

  • Interest: The instant loan is available at favorable interest rates
  • Processing time: The processing time is greatly reduced
  • Loan amount: The loan amount is up to 50,000 USD
  • Payment: The loan amount will not be paid immediately
  • Creditworthiness: Money is only available if the credit rating is suitable
  • Credit application: A loan application must be made

The credit line

The credit line

The credit line is definitely the fastest and easiest option to get fresh money, but the most expensive. For almost every checking account there is automatically a credit line, this is a fixed amount to which the account can be overdrawn. The bank can then pay the dispozins for this service. The credit line is usually 3 net monthly salaries and can be easily used without prior notice or applications.

The credit line is also much more expensive than any other loan. If you additionally exceed the credit line, the overdraft interest is due (at the latest now it will be really expensive)

Dispozins: Is on average at 10 percent
Overdraft interest: is on average 13 percent

Advantages and disadvantages at a glance

Advantages and disadvantages at a glance

  • Disbursement: The credit line is availableimmediately.
  • Application: No application must be made
  • Loan amount : The possible loan amount is up to 3 net monthly salaries
  • Credit: No credit rating is checked
  • Interest: The credit line is extremely expensive and subject to high interest rates
  • Overdraft: If the Dispo is overdrafted, threatens the debt trap

The short-term loan

The short-term loan

Short-term loans are not yet widespread in Germany, but are becoming more and more fashionable in recent years. There are only a few providers of typical short-term loans that divide the market very precisely. The goal is very fast and without complicated applications to offer small sums for short terms.

Advantages and disadvantages at a glance

Advantages and disadvantages at a glance

  • Payout: Few hurdles to payout
  • Loan amount : Loan amount is paid out quickly
  • Loan amount : The loan amount is very limited
  • Offers: There are only a few suppliers in the market
  • Interest: The short-term loan is associated with high costs

Loan from private environment

Loan from private environment

If there is a person in the family environment or in the circle of acquaintances who is able to design the money privately, this is worth considering. With friends and acquaintances no credit rating must be proven and a loan has no effect on the credit bureau score. There are no fees for the loan and both an interest rate and the term can be made very flexible.

Advantages and disadvantages at a glance

  • Credit application: No credit application has to be made
  • credit bureau: The credit bureau score is insignificant and will not be tested
  • Settlement: Settlement is fast and direct
  • Fees: There are no additional fees
  • Interest: Interest is low or non-existent
  • Replacement: Premature replacement is possible
  • Unpleasant: The financial distress must be revealed in front of family or friends
  • Burden: The loan can burden the friendship
  • Restriction: The financier may need to downsize privately
  • Environment: people from their own environment are involved in problems

The mortgage loan

The mortgage loan

The mortgage loan is an easy way to get an immediate payment of cash. There are no applications, no credit checks and no impact on the credit bureau score. The customer only has to have pawns and be ready to offer them as collateral. It is now possible to visit a local pawn shop, or to use online pawnshops.
In the online pawn shop, the item is offered online. The pawnshop picks up the item free of charge and pays out within 24 hours.

The repayment term for a mortgage loan is 3 months. The item can also be triggered before.

Advantages and disadvantages at a glance

  • Availability: The money is available immediately
  • Credit application: No credit application has to be made
  • credit bureau: The credit bureau score is not checked
  • Collateral: Collateral is needed
  • Interest: The mortgage loan is associated with high costs

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