When you need quick money, good advice is often expensive – for example, one way to end your liquidity problems is to apply for a so-called lightning loan. However, not everyone is eligible to apply for a lightning credit or instant credit, as it is often called, there are very special requirements that the borrower must meet.
Requirements for a lightning credit
For most lightning credits, the bank requires that the applicant be employed or, best of all, an official. The self-employed are very often out of the question when it comes to instant loans and have to reckon with going to the bank to take out a personal consultation in order to take out a loan – which, of course, is rather difficult to do in the case of direct banks or internet banks.
Another prerequisite for a lightning credit is that the income is regular and of a sufficient amount – 1,000 dollars are a limit that you actually have to cross no matter what profession you are in.However, the amount of the salary does not necessarily have to be a guarantor for the loan commitment – it is also important for the bank how high the monthly expenses of the customer are, because if they reach a level that would not allow the repayment of the loan debt, none can Loan approval will be given.
Truehold Credit conditions
There are various forms of lightning credit, and so the conditions are not to be named in general. There are, for example, lightning loans without Schufa that are offered by credit agencies – these loans are very limited in their loan amount and sometimes hardly enough to finance a car: you should not expect more than a maximum of USD 3,500 or USD 5,000.
Such a Schufa-free loan is repaid in consistently high monthly installments – often a residual debt insurance is also offered, which should be avoided with such a low loan amount, if it is not mandatory. The traditional branch banks, such as RealCommerce Bank, also offer instant loans that can be applied for online. Here, too, the self-employed or freelancers and traders are outside and are asked to drop by the branch to discuss their loan request in more detail.
If it is a bank in Germany, it is highly likely that Schufa information will also be obtained – even if it is a lightning loan. However, this does not necessarily mean that the borrower’s creditworthiness is subject to stricter requirements than for non-Schufa-free loans from abroad.