Among other things, the Internet is still growing rapidly because it makes everyday life easier and more convenient. For example, you can conveniently order a variety of items online from home and have them sent home for a small fee without having to leave your chair. It also looks similar for banks and their products. Online you can apply for a loan in 2 hours and get approved.
Is a loan a serious offer in 2 hours?
This question can not be answered unambiguously with yes or no, but depends on the respective provider. Since the German financial market is highly competitive, there are certainly reputable providers who want to attract new customers with the fast processing of loan applications. However, the thing has a catch. The processing of a loan application usually takes several working days, because it is in the bank’s own interest to check all your details.
In addition, papers have to be sent, completed and sent back. Adding up the actual time for editing and review, quickly brings together several working days. Permits given by an online provider within a few hours are only indicative and do not constitute the conclusion of a loan agreement. Even if the loan has been approved online in 2 hours, the final confirmation will only be in writing.
Is it faster?
In practice, it is possible to get a loan approved in 2 hours. To do this, you must make an appointment in a bank branch and have a personal appointment there. If you meet all the requirements for a loan (permanent employment, high enough income and not too many financial obligations) and bring all documents required to the original conversation, the processing of your loan application takes only a short time.
The documents that you need to apply for a loan include the identity card or passport, your last proof of income (payslip, payroll, pension notice or the self-employed person’s income tax return) and, for some providers, the current bank statements. If you bring these documents with you in the original, they can be checked immediately.
As a rule, the papers are copied in the bank and given back to you immediately. All you have to do is wait for the bank to get an answer to your inquiry from the private credit. This request is also made via the internet. If there are no or negligible negative entries, a loan can be approved in 2 hours or even less. The disadvantage of this method is that the best offers are usually made not by traditional branch banks, but by online providers.