A credit with immediate decision should be in the interest of many borrowers. Because most strive for a quick and uncomplicated borrowing.
But what does immediate decision mean? Is this binding? And what should be considered? This and much more can be found here.
What is a loan with instant decision?
An instant decision loan is an offer made by banks to look at whether or not a loan can be approved immediately after submitting the loan application.
For this purpose, it is checked whether the application has been completed in full and what information has been provided on revenue and expenditure. If all this goes together, an immediate decision is sent to the borrower. This usually happens within a few minutes.
Is an immediate decision binding?
An immediate decision is not binding. Even if many borrowers want that. Binding is only the signature under the loan agreement. And even there, the legislature grants a withdrawal period.
An immediate decision is always only a preliminary decision, which must be confirmed by the exact examination of all documents and the inquiry of Schufa. An immediate decision loan should therefore not be considered a milestone. It only shows very timely whether a borrowing under the given circumstances is possible or not.
How long does it take to borrow?
Whether a loan with immediate decision within a few hours or less days is available, depends on various factors. On the one hand, there is the type of loan that has been selected. Also, the loan amount and the collateral submitted for the loan. Added to this is the creditworthiness of the borrower.
But also the cooperation between bank and borrower must not be forgotten. Especially with an online loan this must be very tight. Only if the borrower responds quickly to the inquiries of the bank, all documents submitted in a timely manner and the legitimacy can be done quickly, a quick processing, approval and payment is possible.
Thus, several factors must interlock in order to arrive at a quick turnaround time on the loan with immediate decision.
Where can the loan be requested with immediate decision?
You can apply for the loan online as well as at a local bank. However, we recommend the online loan, because you as a borrower here on the Internet has a much better selection of offers, which can be compared very easily with each other. Our loan calculator helps with this comparison.
Incidentally, the application for the loan does not affect the immediate decision. It does not matter if the bank clerk looks at the application for an online loan or a local loan and makes an initial assessment. Anyway, final decisions will only be made once all the documents have been thoroughly checked.
What should be considered?
A credit with immediate decision seems to pretend more than can actually be offered. This impression may arise in any case, if one deals with the topic a little more intensively. But that is not quite so. Because this type of credit also brings with it some advantages.
Who completes his loan application completely and truthfully, can assume that the immediate decision is still valid after the examination of all documents. Thus, as a borrower, you still know pretty quickly whether a loan is possible or not. This helps immensely when planning around the loan and the associated projects.
To end up being a loan seeker rather than a loan seeker, one should therefore look to have a good credit rating. This is the key to success in all lending matters. So also with the loan with immediate decision.