Since financial bottlenecks usually have to be overcome quickly, some banks and credit intermediaries offer so-called quick or lightning loans on the Internet. After a quick check of the personal data and obtaining the Credit Bureau information, these loans will be paid out within a very short time. However, a serious lightning loan is often more expensive than a conventional loan.
Even a serious lightning credit is not paid out immediately
If a lightning loan is applied for on a working day, an acceptance or rejection is usually made within a few hours by email. In order to approve a credit line, banks need a certain processing time even in a time in which data is transmitted digitally. Not all documents can simply be scanned and sent by email. In order to avoid misuse, the loan application, pay slips and copies of the ID must be submitted in person by mail to the borrower.
The so-called post-ident procedure ensures the identity of the applicant. With his signature, the postal official attests to the correct submission of the documents. If the necessary documents are submitted on a working day in the morning, a serious lightning credit will be issued, provided that the documents submitted are correctly filled out and complete within 24 hours for payment.
The quick processing of the lightning loan incurs costs
A serious lightning credit is paid out immediately after approval by check, bank transfer in some cases also in cash via the postman. However, the quick processing of the loan application and the immediate payment of the lightning loan also have their price. For faster processing and checking the submitted documents, higher processing costs are charged than with a normal loan. As a result, this loan is only repaid when the costs incurred have been cleared. If the credit is paid out on the same day of the application by means of a wire transfer, these costs must also be borne by the borrower.
Well-known credit institutions offer serious loans
Even those who need to get liquid funds quickly should not lose sight of the large number of offers and compare the different loan offers. A serious lightning credit is like all other credit lines offered a medium or long-term capital commitment. The amount of the processing costs and the costs for the rapid provision should always be taken into account and are an important criterion for the borrower.
Even with a reputable lightning loan, there should be no upfront costs and possible products for securing loans can be selected as an option. Since there are many black sheep, especially in the lending business, it is advisable for borrowers to only contact banks that have been active in the market for a long time and have good references.