What are your priorities for a cash payout loan? A simple regular credit process with real-time loan disbursement? Favorable interest with a loan payment in 48 hours or a special loan with poor creditworthiness?
We would like to guide you with information on the cash loan that suits you best. We name possible loan offers and special solutions if you fear problems with proof of creditworthiness.
Cash Payout Loan – Regular Cash Loans
A credit with a cash payment is ultimately nothing more than a cash loan. Approved credit is paid out in cash via the borrower’s checking account. Which brings us to the first classic cash advance. Loans with cash payments are defined as cash loans in every business dictionary using an example. – Overdraft facility or overdraft facility is the fastest of all cash payments and at the same time the most common loan.
Around 50 percent of all current account owners, which is practically half of all households in Germany, use overdraft facilities at least once a year. According to statistics, regular users of their current account credit overdraw the account by an average of 3000 USD. Obtaining an overdraft facility with a clean Credit Bureau and a regular income is not a challenge. Overdraft facility is the regular loan offering with the highest acceptable risk.
Regular credit with cash payment, as part of the overdraft facility, is even granted by credit institutions if framework or installment loans are rejected. Borrowers try to avoid the overdraft facility as far as possible despite its easy availability, since it also symbolizes the most expensive loan from the house bank. Depending on the time window up to the availability of the loan, a framework loan or installment loan would be significantly cheaper.
Regular credit line – cash payment in 24 hours
The most flexible addition to the overdraft facility is the framework credit. The credit line would be eligible under the same guidelines as regular installment loans. The required interest rate level is also similar to the installment loan. However, the similarities end there. Framework credit is granted in the same way as the overdraft facility, and the bank approves the loan in a predetermined amount.
Whether the borrower makes use of it or not and to what extent is up to him. The lump-sum loan does not give rise to interest claims. The framework credit only becomes a flexible, fast and low-interest loan with cash payment when the borrower acts. The account holder himself instructs the credit account online to pay out any amount.
The credit payment to the checking account is made within the term of a normal online transfer. During the course of a booking day, the credit account pays the requested amount. It is then available in cash at the ATM or at the counter. If the credit institution granting the credit line is identical to the bank that manages the current account, it can go faster. Many banks book internally in real time.
Regular installment loan – paid in 48 hours
The installment loan is the lowest interest consumer loan. Again the checking account takes over the function of the “exchange office” from digital money to cash. Modern installment loans, as they could be found through free loan comparisons, do not only attract with low interest rates. In line with the wishes of the borrowers, the credit process was accelerated extremely. The automatic credit check and video ID are milestones on the way to fast online credit.
Many credit institutions now offer Videoident as an alternative to ID verification using the post-ID procedure. In a direct comparison, Videoident saves at least one day’s waiting time for the legally binding loan application. A credit application can be legally binding within 30 minutes via video telephony. The requested bank can then check the loan application in a legally binding manner.
Approximately 24 hours would have to be taken for the application and loan decision for the installment loan as a loan with cash payment via the checking account. Credit institutions pay approved credit across the board within one booking day. From this, the regular loan is calculated in 48 hours with a view to the time frame. Some providers even promise that the loan will be paid out within 2 days of the legally binding application.
Fast credit with poor credit rating – problem solving
If the creditworthiness is poor, for example due to a low income, the liquidity cover is thin. Regular credit institutions do not grant adequate overdraft facilities; an uncomplicated overdraft facility fails because of creditworthiness. In such a situation, ordinary fluctuations in spending, such as a higher cell phone bill, can overwhelm the household budget.
A small loan, with a cash payment within the shortest possible time, could bridge the time until the next payment day. Possible providers would be, for example, Good Lender, xpresscredit or Cashper for small credit needs despite limited creditworthiness. In fact, all of the credit providers mentioned are generally prepared not to consider a justifiable negative entry in the Credit Bureau as a knockout criterion.
First-time applicants to Good Lender should apply for 100 to 500 USD of credit with a 30-day term. Applying via Videoident speeds up the application process. Good Lender is expanding its range of follow-up loans. Provided that the creditworthiness is sufficient, a loan of up to USD 3000 with a maximum term of 6 months would be possible. It is also allowed to apply for the desired loan with cash payment within 30 minutes.
For installment loans with cash payment via the checking account, despite poor Credit Bureau creditworthiness, we recommend Good Finance as a reliable contact point. The credit portal Good Finance brings together loan offers from banks, from regular loans to special loans, with loans from private individuals.
A bank cash payment would probably be available more quickly using the free Good Finance loan comparison. If there are difficulties with this, the portal can often offer reputable private loans.