Immediate loan with approval

The Internet has radically changed daily practice in many areas. This also includes the financial sector. Most of the more than 200 banks approved in Germany today offer their products online. There are also financial service providers based abroad that use German brokers. Again and again you can read the term “instant loan with approval” on various websites.

What is behind this name?

What is behind this name?

The competition in the financial market is tough. Providers try to win new customers with attractive offers. With the statement “instant loan with approval” they promise the quick approval of a loan application and quick payment or transfer of the loan amount. However, this is only partially true.

You can apply for a loan online from many banks and immediately receive a commitment, but this is only preliminary and based on the information provided by the applicant in the online form. In order to keep the risk as low as possible, the bank checks all information. To do this, you have to send in the current proof of income (payroll, salary statement) and a copy of your ID card or passport.

In some cases, a current account statement of the current account is requested, on which the monthly debits can be seen. Sending and processing these documents naturally takes some time. It takes a few working days for the final notification. If the loan is approved, it takes another 2 or 3 working days for the loan amount to reach the reference account. All in all, an instant loan with a commitment also needs at least one week from the application to the payment. if there is a weekend or a holiday in between, it may take a little longer.

It’s worth comparing


Before deciding on a particular provider, you should carefully read the terms of the loan. Especially for loans with larger amounts and with a longer term, there are price differences of several hundred dollars between the cheapest and the most expensive offer. A good way to determine the cost is to compare the APR. Special payments or early repayment of the loan should also be possible. An instant loan with approval without Credit Bureau is usually not granted faster than one with Credit Bureau.

Since the risk for the lender is higher if information from Credit Bureau is not provided, the conditions for such loans are usually significantly worse, ie they are more expensive. It is best to read other consumers’ opinions about the respective provider. It is enough to enter the name of the company in the search mask of a search engine. In most cases, this leads you to comparison portals on which the various providers are listed.