How long does a loan payment really take?
In some situations it is important to be able to have cash quickly. If you then have no way to withdraw the required amount from your checking account or another credit account, often only the option to borrow money remains. Some lenders actively advertise that they receive cash very quickly or that payment of the loan amount is extremely fast. But how fast are such loan disbursements really and is there actually the possibility to get cash fast?
Mortgage loan as a possible alternative
The mortgage loan is the classic way to borrow money quickly
If you really want to keep cash as fast as possible, mortgage loans can be an alternative. Pledge credit houses are available throughout the Federal territory, especially in the big cities. However, the prerequisite for use is that you have one or more assets that you can use, such as jewelry, media equipment or other assets. In return, you will then receive a mortgage loan, which is usually paid immediately as cash. The downside to mortgage lending is that you have to introduce yourself personally to the pawnshop and the fees are relatively high, especially if repayments last longer than two months.
Fast cash on ordinary online loans?
In ordinary online loans, even with so-called instant loans, it is in the vast majority of cases that you receive no cash there. Instead, the loan amount is directed to the checking account you specified in the credit agreement. For online loans, you only receive cash indirectly, for example, by having the transferred loan agreement at the ATM. However, there are some exceptions, as some lenders offer the option of actually paying the loan amount in cash.
In this case, both the loan agreements and the loan amount are sent by courier, so that the payment works on the principle of a surname order. In the presence of the courier, they sign the loan agreements and in return receive the agreed loan amount in cash. The advantage is actually the fast cash payment, while mostly high additional costs for this extra service are to be mentioned as a disadvantage.
How long does it take to pay the loan?
In order to receive cash quickly, it is important that the shortest possible time elapses between application and credit of the loan amount. Settlement and processing times vary greatly from bank to bank, so the total duration can be between two and up to 10 days. If you need cash fast, you should definitely prefer so-called short – term loans or instant loans. There, you can expect that in the ideal case between application and credit of the loan amount from your current account maximum between two and three working days proceed. Sometimes the amount is available even after 24 hours, if it is a so-called paperless loan.