Immediate decision credit has all the benefits of using modern technology in banking and lending. In contrast to the traditional process of private customer lending with several processing stations and a time-consuming sending of documents and statements, starting with the private customer advisor to the bank headquarters, now faster, computer-aided calculation steps precede.
Thus, the processing must decide only in cases of ambiguous creditworthiness or the presence of warnings. Thus, the credit is instant decision not only in the credits shops reality, but also in many large banking groups. These have been powerfully driven by the new, smart financing providers to more speed and service.
How the instant decision works
In particular, private loans and, in contrast to real estate loans, a lending decision is purely a decision based on the repayment probability of the customer. Since no land register entry is required and possible, the current income, estimated cost of living and previous experience of other lenders are used to assess credit quality.
The attached salary statement shows a gross income and a net income that will then be used to meet the needs for lifestyle and new loan installments. Then there is either an immediate decision for the loan, a refusal or the opportunity to ask questions or submit further documents.
What the immediate decision goes out!
The immediate decision is thus based on two main components: On the one hand, the question of whether someone could repay the loan. This should be answered with yes or probably. The second question is a question of the personal behavior or previous experience of other lenders: If the customer here has settled all claims or paid back on time, so it is based on a high reliability.
However, anyone who has stuttered his previous loans or not at all paid back, which represents a slightly higher risk. In this respect, the credit can not be approved here with immediate decision once or the lender would like additional security for the loan (for example, by a guarantor or a Failure insurance). In this case, however, it comes to a question from the lender or even completely to a rejection.
However, most loans are approved almost without problems and very promptly. Therefore, with instantaneous credit, one can certainly speak of a fast and reliable source of finance.