If the account is overdrawn, it is often very quickly necessary for the holder to become solvent again quickly. In such a case, an instant loan can be exactly the right solution. However, since the account shows a minus, the loan should also be possible without a Credit Bureau or credit check. Anyone who is interested in an emergency loan has a large number of providers with different credit conditions. A comparison is definitely worthwhile.
The answer to this question is very simple. Banks generally place more emphasis on a regular income than on minor debts or an overdraft. Since the overdraft limit for a salary account or a checking account is usually not very high, this minus does not play a significant role in lending. In addition, in some cases it may also be possible that the applicant still has a cash reserve in the form of a savings product.
Since such forms of savings mostly have a certain commitment period, many cannot access this money. So if the overdraft facility is exhausted and money is urgently needed, a loan is certainly possible. With a Credit Bureau-free loan, the financial institutions will certainly check far more than the financial situation in the checking account.
The credit check primarily includes the possibility of whether the applicant is able to meet the monthly installments due to his income. An overdrawn account can also happen very quickly. Unexpected cash expenditures such as the purchase of new household appliances or the urgent repair of a vehicle can happen again and again.
For most credit intermediaries, an instant loan without Credit Bureau is part of the standard program. It is particularly important with such a loan that a reputable and reliable loan provider is found. The motto should be: As fast as necessary, but as slowly as possible. Before signing the contract, the borrower should be aware of and weigh all other costs and fees that may arise.
Only through a credit comparison or a thorough examination can the borrower be prevented from signing an overpriced offer. Unfortunately it happens again and again that with an instant loan some slip into a very serious and hopeless financial emergency and cannot get out of it. In such cases, it can be assumed that the borrowers have not checked the offer closely and that the monthly installments can no longer be financed.
As is customary for a loan, some documents must also be submitted for an express loan. As a rule, the last proof of salary (3 to 6 months), a citizenship certificate and possibly also a bank statement with all income and expenses of the last 30 days must be submitted. Since conventional house banks mostly do not offer an instant loan offer, a direct bank or an online bank is recommended. The required documents can be sent directly by email with the loan agreement and the applicant can expect a processing time of around 24 hours. In most cases, however, direct banks need significantly less time to process.