The term instant loan is referred to lending, which takes place immediately after the application for the loan. Between the applications, its examination, loan approval and disbursement, it takes only few business days. As mentioned, the greatest strength of this form of credit is that customers will get their money in the fastest possible way. Otherwise, the instant loan is not from conventional loan or a normal financing differs.
These loans are granted almost exclusively by direct banks. Including banks that are recognized to communicate with the customers via the Internet or telephone. While in the branch bank any credit request is examined personally and individually, using direct banks as standardized method to handle the loan applications. By this method a standard loan commitments or other methods are possible within a very short amount of time.
Tip: when choosing offers a loan comparison, a loan calculator evaluates all your important data, and calculates the best loan for you.
Fill in preliminary form on the website and send it. Once you have gathered information on the website of the Bank, the terms of credit may be applied directly using the appropriate form on the website. There all personal data, such as name, address, occupation, income, marital status and children, financial obligations as well as the information on the credit itself, therefore the desired loan amount and maturity, must be entered.
The information must of course be legit and true- otherwise you could face a problem for false identification. Provisional – – loan approval or rejection credit is granted after the examination. Which usually lasts depending on the provider – between five minutes and one day.
The system now creates a written offer. This can then either be stored on your own PC and printer or the Bank sends to the offer. The documents must now be completed and signed. Most providers charge additionally records relating to income, such as personal documentation or bank statements.
Then you should send request to the Bank.
The completed application must now be sent along with the income proofs to the specified bank address. In order to determine the identity of the applicant, the Identification method is applied. For the borrower will understand at a post office in the making, the postman identify the person because of the identity card.
Final acceptance or rejection is your latest step
The application will now together with the documents examined by an employee and there are the final loan commitments. The customer receives the final contract, which must be signed and returned now. Subsequently, the loan amount is paid to the designated account within a few days. For questions a telephone contact is often possible, or even live chat at some point.
These are some of the main characteristics when you are trying to get a loan in the bank. The process is very simple. You can always ask for answers in the bank if you are having any problems – they will help you as soon as they can.