Consumers who want to apply for an installment loan today no longer have to visit their bank or another bank to make an appointment for a consultation. Today, those who want to can apply for their installment loan directly online from their home computer at the bank of their choice, taking advantage of the many opportunities offered by new media and saving money.
However, this also means that loan seekers are on their own if they want to apply for a loan and don't have a bank advisor nearby to answer any important questions they may have. Therefore we made it us the task to clear up interested consumers and with our Tipps possible questions, which arise again and again, to clarify. If you read our articles carefully, you will find endless tips and advice on what to consider when applying for a loan. Many of these useful tips would not be given by a bank advisor, because he wants to sell something. We, on the other hand, work neutrally and independently and provide you with the necessary information free of charge.
How to apply for a loan online
We assume here that a loan comparison, which is about finding the bank with the best conditions, has already been made and now it is only a matter of submitting the loan application to the selected bank.
Normally, loan seekers are redirected directly from the loan comparison to the bank of their choice and can then apply for their loan from there. There are a number of forms that must be filled out carefully and truthfully. You can not actually forget anything, because it always continues in the program flow only if all so-called mandatory fields are filled out. It is important to take the greatest possible care when filling out the forms. All the information provided is used by the bank to get to know the loan applicant and assess their creditworthiness.
It is then usually only a few steps with which consumers are guided through the forms, where also actually not much can be done wrong. The bank wants to know a lot of information about the applicant. In doing so, it asks such data as surname, first name, date of birth, current residential address, previous residential address, marital status, number of children, profession, employer, etc. In addition, information on the financial circumstances must be provided. Here the bank then the monthly net income, the amount of rent, any existing obligations, alimony payments, mortgages, etc., will be determined. inquires. In the following and for the time being last step then data must be made to the desired credit amount.
All the information is used by the bank to check the creditworthiness of the applicant. The Schufa information is obtained, which says something about the payment behavior in the past. A budget calculation is made to assess whether the disposable income is sufficient and the scoring procedure is applied. Depending on the result of the credit check, the loan application is then approved. In the case of installment loans with interest rates based on creditworthiness, the interest rate at which the loan can be granted is determined.
All this is done automatically, so that the loan applicant can expect to receive a loan decision within a few minutes if he or she has a good credit rating. Every decision is made with reservations. It is only valid if all the information provided stands up to on-site verification at the bank.
If the credit application is not filled out correctly or incompletely, or if there are problems with creditworthiness, the automatic processing process is interrupted. These requests are then manually processed by the bank's employees.
What documents are required
If the credit application is approved, the bank sends the complete contract documents directly to the credit applicant by mail. The credit agreement must then be read, checked for accuracy and signed. Furthermore, the evidence required by the lender must be attached to the contract documents. Complete with all documents, it then goes to the Post Ident procedure in a post office branch.