Express cash advance

An express cash advance is an installment loan that can be paid on the same day or the next working day at the latest. The application form, the conditions for the authorization and the modalities of the repayment are comparable to many other installment loans. The main difference, however, is that the payout can be much faster. If you are looking for an express cash advance, you must contact a bank or a credit intermediary offering such a loan, as this is far from always the case. Also, it is very important that you do not make hasty decisions but compare different loans. If you have found a suitable offer, you can apply for the express cash advance you require.

Loan comparison


When looking for an express cash advance, you should pay special attention to private credit intermediaries. These credit intermediaries specialize in special cases. So it is possible in many cases that the loan application position very quickly goes and that only takes a few minutes until the customer can get loan approval. However, this presupposes that the necessary foundations exist to be able to grant a loan.

As a rule, only people with an express loan who are in permanent employment and who have not been dismissed or have a permanent contract can easily get a loan. Those who are unemployed, have only a fixed-term employment contract or are self-employed can in many cases not receive a loan. However, this is not possible. There are certainly credit intermediaries who can also lend to people who belong to one of the aforementioned or to a comparable group of people. In many cases, this will require a guarantee or a second applicant who can pay for the loan installments, if necessary.

You do not have to spend a lot of time on a loan comparison and you do not have to go to various banks or credit intermediaries personally. This is far too expensive and still provides you with a confusing picture. Many loan offers are presented exclusively on the Internet and can only be applied for there. Ideally, you will use a credit portal on the internet for a credit comparison. There is often a loan calculator. This loan calculator is always available for free and is very easy to use. You can use the loan calculator to make a preselection of which loan offers should be considered for you. So you can, among other things, the loan amount,

If you want to know more about it, this is very easy because you just have to click on the link that is set from the loan comparison page to the website of the credit intermediary or the lender.

Credit conditions


Basically, the requirements for an express cash advance do not differ significantly from the requirements that must be met for other loans. This means that you should have a steady income. Whether the information is requested depends on which bank you want to apply for the loan from. In principle, Schufa information is only requested from German banks, savings banks or Volksbanks Raiffeisen banks. However, foreign banks or private lenders are not interested in Schufa information. 
The same goes for most private credit intermediaries.

The minimum age for an Express Credit is 18 years. The borrower must, therefore, have reached the age of majority. In addition, some credit intermediaries and some banks have set upper age limits for a loan. These age limits may already be 58 years. As a result, older people will have no chance of receiving an express loan from these lenders, regardless of what their personal credit rating is and how high their income is. In this case, there are essentially two alternatives. You can turn to a lender who has set the age limit higher or waives it all together, or you can get a guarantor who is younger and has not yet reached the age limit.

When you apply for an express cash advance, you must have all the documentation you need to make a credit decision. This includes all evidence of the amount and type of income. The documents you need specifically can be found on the website of the lender or the credit intermediary. Especially with an express cash advance, it is very important that you complete and correctly submit all these documents together with the application. This will avoid the need for the bank to ask for documentation or for queries from the bank. All these things would unnecessarily delay the approval and payment of the loan, which should be avoided, especially with an express cash advance.

If all the documents are complete, Express Credit lasts only a few minutes before the lender can decide whether to approve your loan application or reject it due to a lack of prerequisites. For some private credit intermediaries, you can even expect to receive a possible loan commitment after just one minute. It will not be long before you receive the loan approval.

Payment and repayment of an Express Credit


The most important characteristic of an express loan is that it is paid out very quickly. If it is also a cash advance, this payment is not made by a transfer to the checking account. Depending on who the lender is and where he is based, you can have the money paid in cash at the counter or sent by courier to your address. In addition, it is also possible that the money will be paid by postal order. You will then receive a notification and can pick up the money at the post office counter in your area.

Even if an express credit is not paid out in cash but a current account is transferred, you will not have to wait much longer for your money today. Due to the fact that the system is valid throughout Europe, transfers from abroad are also within a few hours or within a maximum of one working day. Especially if a payment is made in the morning, the credit is often still on the same day. 
Then you can have the money as you wish. In the vast majority of cases, an express cash advance is not a restricted, but a freely usable installment loan.

The repayment of a granted and paid express cash advance must be made in installments. They are payable monthly and usually have the same amount during the term. If there are deviations from this rule, they are contractually fixed. The same applies to all other details concerning lending and loan repayment. 
For the payment of the monthly repayment installments, there are different possibilities. The installments can be transferred or debited from the current account. This happens at a fixed date.