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Short term loans bad credit UK -Short-term loan within 30 minutes

Short-term credit

Short-term loan within 30 minutes

You urgently need to pay an unpaid bill or your washing machine has broken down? Then you may need a short-term loan with a loan amount of up to 3,000 euros (new customers up to a maximum of 500 euros). Read here how to apply for it and what you should pay attention to!

The short-term credit offers you many advantages. Sometimes you need a bridge! One of the biggest advantages is the payout speed. The provider pays out within 30 minutes after a successful application. It is important to mention that the loan must be repaid within up to 60 days.

How to apply for a short-term loan?

How to apply for a short-term loan?

  • Fill out the form on Neofunding.

You have the option to choose between a loan amount of 100 – 1,000 euros (maximum of 500 euros for new customers). The term can be chosen independently of the loan amount, with 7 to 30 days available. If this is too short, you can extend the repayment period by another 30 days, so you have up to 60 days for repayment available.

If you need the money very urgently, you can choose the express option, the money will be paid after successful verification of the documents by express, this is within 30 minutes on your account. This should happen before 2 pm, otherwise, you will not be in your bank account until the next morning.

  • You receive your contract, of course for free.

Here you have the opportunity to check everything, should everything be correct to upload the following documents in your designated account. Proof of payroll, color copy of bank card, color copy of your ID card and completed contract.

For first-time customers, a PostIdent procedure must be carried out. If you want to save yourself this way, or if you are in a hurry, you can make a VideoIdent, this is done within 5 minutes.

  • A brief examination of the documents

After the test, your short-term loan will be paid out immediately, if you have not used any express option (30 minutes), this will take about 2 – 5 working days.

Short-term credit despite Private credit entry?

In principle yes. Neofunding also offers short-term loans to people with average credit to. A Private credit query is made with each request, so protects on the one hand Neofunding and especially the customer himself.

There are reasons for refusal if

– you are a private insurer
– they have an affidavit
– there is an arrest warrant against you
– her bank account was terminated for abuse
– or a garnishment has been arranged

 

Survey among banks: interest rates on consumer credit remain constant

Image result for interest ratesA recent survey of 20 banks shows that 71 percent of the banks surveyed by the credit portal smava do not expect interest rates to change for installment loans. Of a rise in interest rates of up to 0.4 percentage points 18 percent of the banks go out. 12 percent believe a rate cut of up to 0.4 percentage points is likely. “The rates of installment loans will remain in the opinion of the banks in the next few months for the first time constant. This means that borrowers will pay an annual average interest rate of 5.7 percent. Who completes the Internet, will pay on average 1.9 percentage points less for his loan, “summarizes Alexander Artopé, CEO of smava the results together.

 

Survey of banks: This is how interest rates for installment loans develop in the third quarter of 2018

 

Even with the best credit rating: interest rate differentials of more than 5 percentage points

 

Despite persistent low interest rates, there will continue to be large interest rate differentials in installment loans. They are not attributable solely to the different credit ratings of the borrowers. Even within the credit rating classes, there are large interest rate differentials: with a loan amount of 10,000 euros and a maturity of 48 months, even with the best credit rating, for example, 7.3 percentage points difference. The interest margin in this case is from 0.69 to 7.99 percent. This is the result of data from FMH Finanzberatung and the credit portal smava.

 

Borrowers pay over 2 billion euros too much for loans every year

 

Alexander Artopé, co-founder and CEO of smava

Alexander Artopé, co-founder and CEO of smava

The credit market is not clear to consumers. The result: Hardly any borrower is aware of the drastic interest rate differentials. “We want to make consumers aware of the differences in credit prices and make them realize that they can save more than € 2 billion a year by comparing credit online,” says Artopé.

 

 

 

 

About the survey

The credit portal smava has in the period from 31.05. to 8.06.2018 interviewed 20 banks in the third quarter of 2018 with the help of an online survey on interest rates on installment loans. The results mentioned are rounded percentages.