A lightning loan with immediate payment is sometimes the last resort, when unpleasant surprises lead to unplanned costs. Even those who carefully plan their income and expenses and even could invest a financial cushion, can suddenly and unexpectedly need credit.
Alternatives on the Internet
There can be good reasons to look for a payday loan online. Serious offers come via brokerage platforms from foreign banks, but also from private investors. If a bank is behind the offer, the formalities must be completed very quickly. Without delay through the post office, the necessary information is made online and possibly still scanned or photographed documents uploaded. The tests run largely automated, so they only take a few minutes. The money can then be directed immediately and may even be credited on the same day. By private individuals you can not expect a lightning loan with immediate payment, because the money is not provided by a single person. Internet platforms organize the lending rather so that many private individuals contribute small sums. This takes time, and the credit agreement is only concluded when the desired amount has been fully subscribed. The personal loan is usually not cheaper than at the bank. Private investors also charge an interest rate according to the risk, and the operators of the platform earn on the fees incurred.
Fast money from the house bank
The fastest money comes from your own checking account. If the bank has granted a dispo framework, it acts like a lightning loan with immediate payment. No application is required, no documents must be submitted. You can simply overdraw the account by making a transfer, accepting a direct debit via SEPA direct debit or withdrawing cash at the machine. This works because your bank was able to assess the risk of a default in advance. She sees your balance, sees a regular salary receipt and the monthly charges for rent, electricity, insurance and the like. As a long-standing customer with a good credit rating, you can count on one to two monthly salaries. But beware – despite low interest rates, the Dispo is one of the most expensive loans. On average, interest rates are around 10%. So it is not a good idea to have your current account in negative territory for convenience or bad planning. An installment loan costs only a fraction of the interest, especially if you can provide collateral such as a life insurance or securities deposit. A installment loan is a bit more cumbersome to apply for, but often after the first conversation with your bank adviser, the payment can be made immediately, as with the lightning loan.