Many questions play a role – everyone is looking for their very own and individual credit. The agony of choice is sometimes great. Sometimes it just has to be fast. Which online short-term loans are serious? Which suppliers are really recommended for consumers after our independent test? Read more about the best online quick loans and make a decision – with our help.!
The big loans comparison
- Independent comparisons of different providers
- Transparent and easy-to-understand reviews and guides
- Valuable insider information about providers
- Clear comparisons of the best banks
- Tips and Tricks for the Best Online Credit
How does our online loan comparison work?
In order for you to be able to find a cheap online short-term credit by accepting our comparison, three statements should be made:
- Required loan amount
- Term of the loan
- Purpose: Small loan
Who does not know: Unforeseen expenses can put us in an uncomfortable position. The washing machine is suddenly broken, the car is on strike, the account is empty – but the month is still long. In order to close short-term financial gaps, there is the possibility to complete a small loan. A small loan is paid out quickly and has a short term.
Time is short: Find a cheap online fast loan
Fast and uncomplicated: The small loan
A general requirement for obtaining a loan is the age of majority. For all types of credit, credit checks are usually carried out by the banks. These include Private credit queries or the demand for payroll. For small loans is often refrained from. Even with a Private credit entry small loans are partially to get. They have a duration of between 14 and 30 days and range from 100, – to 600, – Euro, in rare cases, higher sums can be borrowed.
Also online: Reputable providers on the Internet
Meanwhile, there are also cheap online quick loans, which are recommended. We’ve tested reputable vendors for you in this article and will give you a guide on what to look for when looking for low-priced short-term loans. First of all, do not be fooled by offers that promise you high sums of money at astonishingly low interest rates! Trusted providers are in a middle range.
An online short-term loan should be finalized when it comes to closing short-term financial gaps caused, for example, by unforeseen expenses. Due to the short duration of a quick loan between 14 to 30 days you should be absolutely sure that you can repay the loan at the end of the term.
Do not rush: you recognize quality!
If you happen to be in a financial emergency situation or want to bridge a bottleneck, do not let the unpleasant situation lead you to badly thought out actions! Even if it should go fast: You have to make sure that you are dealing with a reputable supplier!
Please note the following quality features in order to find a cheap online short-term loan:
- Fast and serious: Quick loans are not awarded for large sums, otherwise the risk for the provider is too high. If you come across other offers, stay careful!
- A contractual agreement as a prerequisite: A provider who does not attach importance to a contract should appear to you doubtful.
- A clear, well-structured loan agreement: In the loan agreement, the loan amount, term, interest, other fees should be clearly formulated.
- Do not be dazzled! Fast payout without identity check? There is something lazy in most cases! A provider that does not want to hedge itself in any form, rarely runs reputable business!
The comparison: Why are you looking for a quick loan?
Are you in a financial situation that requires swift action? A cheap quick loan compared to other loans seems to you the best solution, because you do not want to wait long for the decision and need only a small sum.
Whether the quick loan is convenient for you and actually recommended in your situation, you should check well.
- Do you have a short-term financial gap that you need to close?
- There are no other repayment options?
- It is a manageable amount?
- You are waiting for the receipt of money and know that it will be paid in the next few weeks?
- Are you sure that repaying the loan in the short term is realistic?
- The pre-agreed rate is always payable? You have prepared a financing plan?
- The burden of the credit can be estimated over the term? You can also agree the costs with your personal plans?
- They have all terms compared clean and can not be blinded by a favorable offer “
If you can answer the majority of these questions with “yes”: A quick loan seems to be the right product. An installment loan may also be eligible. If you have answered “no” to all or most of the questions: A quick loan is not recommended. If your answers balance each other, look for independent advice.
Well informed is half won! 5 questions about the online quick loan
As in every area also applies here: A good information situation is half the battle! Only then can you make a good decision.
1. How do the lenders secure themselves?
Most financial institutions usually check the ability to repay the loan plus the interest on current income, usually very accurately. For higher sums of more than six months, more collateral is usually required, such as guarantees or financial reserves that can be accessed in an emergency. In the case of short-term loans, an identity check is usually sufficient. Even with a Private credit entry, quick loans can be awarded in small sums.
2. How soon will a quick loan be paid out?
The credit decision actually falls within a few hours, you have to expect up to one day until you have a safe decision from the credit request. The name says it all: as soon as the loan is approved, the providers pay the money. It is usually credited to the account in less than six hours.
3. What are the average interest rates?
The interest rates are logically higher than for longer-term loans. On average, interest rates are between 14 and 16 percent.
4. Can the quick loan drive itself into ruin?
The ruin is only a possibility with high sums. Quick loans are small loans that operate within a manageable credit line. And do not be afraid of usury: today, a loan agreement is declared ineffective, if there is evidence of usury. For usury is immoral. Usury means that there is a mismatch between performance and return. In the case of a quick loan, this mismatch occurs when the agreed interest rate is 100 percent above the market rate of interest, for example 28 percent instead of 14 percent a year.
5. How should the interest on fast loans be paid?
As a rule, the interest rate agreed with a money loan is payable after the end of a calendar year. If the term does not cover a whole year, the interest is due on the refund. With a quick loan, the interest rates fall after just 14 to 30 days.
From time to time, there are costs and service charges for processing and lending. However, these additional costs should be in a context that is considered appropriate. What is appropriate, you can quickly find out by a quick loan comparison.
For small loans Private credit entries are no problem
Best a small loan! The quick loan of the future
In order to relieve you of the work a little, they have compared the online quick loans in comparison and processed the results neatly. It has been noticed that in the short-term granting of loans especially small credit providers are a good choice. For this reason too, we compared the good and serious offers in this area.
ExpressCredit has been providing small loans to private customers since 2014 as a service of Zaloan Germany GmbH. The provider ExpressCredit is part of the Zaloan Germany GmbH, which exists as such since 2005. At the current time, the company has already been able to spend small loans on more than one million customers in 20 countries. According to our reports, this is a reputable provider. Applying for credits via ExpressCredit.de is quick and easy. The requested amount is 199, – Euro for the first application, at 300, – to 600, – Euro from the confirmatory application, the maximum duration is 45 days.
Easily apply for a loan at ExpressCredit
As an alternative, even a small loan from Viloan offers a good opportunity, should you have to get money at a very short notice. The desired amounts can be between 100, – and 600, – Euro and bring a duration of 15 to 30 days with it.
An account with Viloan: Opened quickly
Another possibility for a favorable on-line fast credit: Neofunding offers in contrast to the classical bank loan no long-term installment credits. The desired amount is higher here: between 100, – Euro and 3,000, – Euro, the duration is up to 30 days as short as the competition. However, there is a 2-rate option: With a loan from 1,000 euros you can extend the term up to 60 days.
Interest rates are around 14 percent per annum for all providers.
Calculate credit and fees at Neofunding
And a next variant: The provider iPfand works like a normal pawnbroker. In order to receive money, deposit your valuable asset as collateral and receive a corresponding sum, with which you can do what you want. You have the choice. Either you pay back the money with interest and get your valuable asset back or the pawnshop gets the right to sell this item.
5 tips and tricks for dealing with the quick loan
Your situation requires quick action? All the more important that you do not act rashly!
1. If you need a small amount for a short time, contact a microcredit provider.
You will receive the money easily and promptly. Borrow only as much as you can safely repay after the short term!
2. Valuables can also be converted into money at short notice!
If you do not want a credit check, you can also lend your valuables. A classic pawnshop on the internet with good terms is iPfand.
3. Do not accept high interest rates!
Do not let your unpleasant situation take advantage. Reputable providers calculate about 14 percent annual interest for a short-term loan with no hidden costs – of course!
4. Establish a realistic financing plan!
Regardless of how big the loan amount is, you should always set up a financing plan. In other words, you have a written record of what and how much you can afford and, above all, whether repayment is possible. In a lightning loan, the repayment is usually in a sum. Alternatively, calculate the monthly rate.
5. Credit comparison is a must!
A credit comparison should not be a “can” but a “must”. That’s the only way to make sure you get the best deals. In addition, you are on the safe side when it comes to finding a reputable provider. Make use of the know-how of the experts.
Now we wish you much success in finding the best online loan!