Credit checker collects data on the behavior of German residents in financial matters and passes it on to its contractual partners. An existing negative credit checker entry makes it significantly more difficult to take out further loans from German financial institutions. In addition to bad credit checker information, the wish that the small loan to be taken up is not reported to the German credit protection agency can motivate the application for a credit checker-free loan. This makes sense if extensive financing, such as taking out a real estate loan, is due within the next six months. The immediate approval means that an applicant finds out immediately after the credit application has been completed whether it is approved.
What to look out for with instant approval loans
The designation of a loan offer as a small loan without credit checker with immediate approval does not necessarily mean that the loan amount is paid out within two bank working days. If you absolutely need it, you have to opt for an instant loan. An immediate approval simply means that the decision on a loan approval is made online and immediately after the loan application has been submitted. In the case of a small loan without credit checker with immediate approval, this is almost always subject to the proviso that the data specified in the application match the supporting documents to be submitted, although discrepancies can occur if the bank does not assess all of the income components as decisive for the lending.
In order to avoid a later cancellation of the loan commitment, applicants pay careful attention to what information the bank provides with regard to the income calculation. In contrast to German financial institutions, most Swiss banks do not only include additional income from additional employment relationships, but also child benefits and maintenance payments.
Which banks grant credit checker-free small loans?
Financial institutions domiciled in Germany generally do not issue a small loan without credit checker with immediate approval, but always carry out a credit checker request. If, in exceptional cases, you do not have one with existing customers, you will still report the loan payment to the credit protection association. German borrowers can apply for a small loan without credit checker with immediate approval from a bank authorized in Switzerland or Liechtenstein. This is not a contractual partner of the German credit checker and can therefore not obtain credit checker information. Instead, it makes a request to the Swiss credit protection agency, where the applicant has not yet been registered, unless he has already taken out a bank loan in Switzerland. The loan amount is paid to the borrower’s account free of charge in the case of a credit checker-free small loan with immediate approval in USD.
Repayment is also possible
The federal and Liechtenstein banks granting loans in Germany maintain checking accounts with a German financial institution, so that repayment is also possible at no additional cost. The basic requirement for applying for a small loan without credit checker and with immediate payment is dependent employment at most Swiss banks, and the loan amount is limited to 3500 USD. Higher loan amounts as well as loans to the self-employed and freelancers can be applied for without credit checker in Switzerland if the credit customer first contacts an intermediary. In this case, he makes sure that the credit intermediary does not charge any upfront costs, but only a performance fee in accordance with the statutory provisions.