Anyone who has already taken out a loan knows the seemingly endless procedure in which banks and savings banks determine the creditworthiness of their clientele. First of all, a lengthy examination of all income is usually required, followed by a query of the information at a credit bureau and Infoscore, then the application must be discussed in a meeting and ultimately approved by the management.
Sometimes a customer does not have sufficient collateral, then the customer is offered to conclude an accident or disability insurance via the in-house insurance company and the entire aforementioned procedure begins anew, taking into account the now completed insurance conclusion. Those who want to spare themselves such a lengthy examination procedure should take a look at the offers of the banks represented on the Internet. Above all, online loans are characterized by a very straightforward and unbureaucratic procurement procedure, and the customer also receives automatically generated instant information on the likelihood of a license.
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The awarding process for online loans is extremely comfortable and unbureaucratic. As a rule, an online application form is completed and sent to the bank. Immediately after dispatch, the applicant receives an automatically generated instant information on the likelihood of a license. This automatically generated instant information exploits all information on the income and collateral and can, therefore, be regarded as very reliable.
As a rule, however, the application is also reviewed by an administrator within a few hours and the customer can expect a final confirmation by e-mail no later than one day later. Then the customer only has to print out the application, sign it and send it with all the evidence to the bank. The identity check is usually just as unbureaucratic as the rest of the application, some banks suffice the supplement of an additionally signed copy of the identity card, other banks resort to the well-known Post-Ident procedure.
In the case of the Post-Identification procedure, a brief check of the identity card by a post office official is either carried out conveniently at one’s own front door or, if desired, at the nearest post office. Thus, the entire application process is completed, the customer receives the loan amount transferred to his account or, if desired, in cash by mail. In addition, online banks very often allow their customers to conclude credit agreements without credit bureau participation, which means in plain language that the credit bureau information is neither used as an award criterion nor does it register the newly taken up loan with the credit bureau. Who wants to take a loan online, which should compare the offers of different banks.
Who wants to take a loan online, has many different options, and even large banks and savings banks allow their customers to now comfortable online way. The interest on an online loan is between 3.89% and 12.99% APR for the major providers. However, anyone who wants to take out a loan online, which is not noted in the credit bureau, must expect slightly higher interest rates of 4.99% up to 16.99% APR.
If you would like to take out a loan online, you should take the time to examine the offers of the different credit institutions in order to finally conclude the cheapest online loan with the most comfortable conditions. As a rule, after the conclusion of the contract, the entire administration of the loan can also take place online.