If you buy a new car or want to fulfill another wish as quickly as possible, the instant credit online with instant approval is an excellent way to quickly get the funds you need for it.
In fact, this form of credit offers something that seemed unthinkable just a few years ago: loan application and processing is accelerated enormously, so that the payment of the loan can be confirmed within a few minutes. Merely sending in a signed credit contract and showing your ID once at a bank branch or in the post office for the PostIdent procedure ensures that the commitment and payment are still a bit apart in time. Read more about how separating the consumer credit business from the classic bank structure means more speed!
4-eyes decision – but at one point
The classic consumer loan at a branch bank comprised almost the same work steps as the instant online loan with instant approval. However, no care was taken in the branch bank system that the customer would like to have a decision quickly. Instead, the loan application was simply pre-checked and then sent to a central department in the bank’s head office.
The instant loan, on the other hand, works much faster: the customer enters the essential credit data as well as his consent to a private credit checker query and then the complete request is forwarded online and in a matter of seconds. Some providers speak of a “credit factory” that would quickly pass the application through the subsequent work steps!
In fact, the online query of creditworthiness data is started immediately and the experiences of other, previous lenders are taken into account. Then two employees go through the documents (for example as a PDF) again. The four-eyes principle is then used to decide whether the loan is offered and which interest rate can be offered.
This is decided not only on the basis of the customer’s credit rating data, but also on the current balance sheet or the strategy of the bank. And indeed: the loan was approved on the same day.
The elimination of shipping routes
The main reason for the speed increase in instant credit online with instant approval is the spatial and temporal compression. Long-term shipping and decision-making processes in different places are no longer necessary, so that fast lending is possible.