In the meantime, it is no longer necessary to run from bank branch to bank branch in order to find a suitable loan. It is also very convenient from home. Many direct banks and even branch banks offer online payday loans on various terms that you can easily apply for online. Some banks also advertise with instant credit applications to be applied online, which have a slimmed-down processing path and are therefore paid out even faster.
You influence the time of payment of an online payday loan yourself
Applying for an online payday loan is lightning fast. In most cases, the application forms can be reached with one click on the websites of the credit providers. You fill out the application forms and copy the required credit documents. Usually you need the last three salary slips and a copy of your identity card. A business evaluation might be required for the self-employed. Sometimes you have to copy the bank statements with the last salary receipts.
As soon as you have all the necessary documents together, you send them to the credit provider by post. In most cases, a PostIdent procedure is part of this process, but it can be completed in a few minutes. The postal worker checks the identity card and officially establishes the identity of the applicant. The faster you complete this procedure, the sooner you get your loan.
The processing times for an online payday loan are different
Each credit institution has an individual procedure for processing an online payday loan application. The fastest option is an instant loan if the credit provider has already made all the necessary contract documents available for download and the applicant can send them in the first post. For this purpose, a loan calculator should also be available on the website of the loan provider, so that the customer can choose the loan amount, term and installments.
If all requirements are met and the customer’s credit check was successful, the net loan amount for an immediate loan is paid promptly to a specified reference account. The fastest time to get an online payday loan would then be about 5-7 working days.
An online payday loan is also checked responsibly
However, the procedure for most banks is to carry out the first check after sending the application documents and then to work out an individual loan offer based on the customer’s creditworthiness. This individual loan offer is then sent by email or again by post and the customer can decide whether to accept the loan offer or not. If the customer accepts the loan offer with the corresponding interest, he must sign it and send it back to the bank by post.
The signed contract is then checked again by the bank and the agreed loan amount is then paid to the specified account. Thus, with a regular online payday loan, it takes about 10-14 working days from the application to the payment, since you have to plan for two mails.