Instant loans without Credit Bureau

After applying for an instant loan, the money should arrive in the customer’s account within two banking days. In Germany, as with all other loans, a Credit Bureau request is common for instant loans, although even soft negative entries often lead to a refusal to credit because the bank cannot check the documents to be submitted due to the short processing time.

Due to the limited possibility of checking, some banks generally refrain from sending proof of income when issuing instant loans online, so that in addition to the information provided by the borrower, only the Credit Bureau information serves as credit security.

Instant credit from Switzerland

Instant credit from Switzerland

In contrast to German financial institutions, Swiss and Liechtenstein banks offer instant loans without a Credit Bureau request and without a Credit Bureau entry, since as non-members they do not receive any information anyway. Due to the lack of creditworthiness information, the Swiss or Liechtenstein credit institutions limit the amount of the loans they grant to 3500 USD, but only a few institutions pay up to 5000 USD for Credit Bureau-free instant loans.

Another restriction on the granting of Credit Bureau-free instant loans by Swiss banks is that the borrowers must not be older than 55 or 58 depending on the place of residence and bank. The transfer of Swiss or Liechtenstein instant loans without Credit Bureau is made in USD, so there is no currency risk for the borrower.

Since the repayment of the Swiss loans takes place via a German bank account of the paying bank, the loan customer does not incur any additional bank charges. However, a prerequisite for receiving an instant Credit Bureau-free loan from Switzerland is a fixed employment contract with an income that is sufficient for repayment, with Swiss banks applying stricter standards to the household accounts than German credit institutions.

In addition, banks from Liechtenstein and Switzerland generally do not waive faxing of proof of income and employment contract, even with instant loans, even if the authenticity of the submitted documents can hardly be verified.

Obtain multiple offers

Obtain multiple offers

Customers are happy to accept that Swiss instant loans without Credit Bureau have to pay slightly higher interest rates than regular German loans, especially since they often cannot take out a loan due to the negative entries in Germany. So that the additional costs are not too high, bank customers obtain several offers from a Swiss or Liechtenstein bank before taking out an instant loan and compare the conditions.

It should also be noted that no serious costs or processing fees are required for serious instant loans without Credit Bureau if the requested loan is not actually issued. According to the law, fees for lending may be charged in Germany, but no calculation fees for rejecting loan applications. This also applies to lenders based abroad.

Refinance installment loan.

Having the installment loan refinanced can currently bring significant interest advantages. Nevertheless, refinancing should not necessarily be carried out only because of the lower interest rates. Not all loan costs are automatically calculated back. Back calculation is only legally required for interest. It is therefore advisable to take a look at the contractual terms before any refinancing request.

Refinance the current installment loan – benefit from current interest rates.

Refinance the current installment loan - benefit from current interest rates.

Anyone who has signed long-term installment contracts in the past did not always get cheap interest. The key interest rate level in the past was significantly higher than it was in the times of the USD crisis. Old credit contracts, like insurance contracts, should be checked from time to time. Refinance the installment loan, which can turn out to be useful. In this way, better, newer contractual terms can be agreed. You can also benefit from the currently low interest rate level.

Before you decide to refinance, you should pay particular attention to the old contractual terms. According to applicable law, only the interest has to be calculated back. This does not necessarily apply to fees and residual debt insurance. In addition, costs for early loan repayment can be calculated. Only a more precise calculation shows whether it is worthwhile to refinance or not.

Recognize the best interest rates for the new contract.

The favorable interest rates of the present are tempting. Even so, no one should overshoot the mark with their savings efforts. Anyone who has a long repayment period ahead of them even after refinancing should not forego the fixed interest rate. A further cut in key interest rates is possible in the near future, but nobody can look into the far future. The majority of the “experts” consider inflation more likely to be the solution to the USD crisis. Only the fixed-rate loan can offer protection against this.

The effects of the CB’s planned purchases of government bonds from the problem countries are only expected in about two years. If you want to refinance an installment loan that has a shorter term than two years, you should rely on variable interest rates. They offer the cheaper entry requirements. In addition, further interest rate declines in key interest rates can be used. The CB is under pressure from the crisis, which calls for a further rate cut, along the lines of the American model. Refinancing the installment loan can, with caution, currently make use of some savings potential.