The Internet is probably considered the most basic invention of the last 20 years. The changes are enormous and did not stop at the financial market. So it is now easily possible to open a bank account from the home PC and to use online banking from there. This also brought to the fore the banks that did not go far enough for this service. Finally, the individual banks could assume that the Internet also reduces barriers and people more readily to complete a loan application. That may well be the reason why so many lenders offer the opportunity to apply for a loan online. However, not only German banks are involved, but also foreign financial institutions and private individuals are included.

There are various ways for German banks to apply for a loan online. For example, the applicant has the option of agreeing only on a consultation meeting over the network. However, there is also the possibility of going through the whole process of applying via the network without using any form of personal contact. Anyone wishing to renounce personal contact with the clerk must send the required documents for the application by post to the bank. The German lenders inform on the corresponding website about the possibilities to apply for a loan online.

The offer of direct banks

The offer of direct banks

For foreign banks, the option to apply for credit online is a standard offer. The corresponding background is explained quickly and plausibly. Most of these credit institutions are based in another country and therefore act as a direct bank in Germany. These are banks that operate exclusively on the Internet and do not provide stationary offices. This means that these banks can not offer face-to-face counseling and that banking is handled exclusively via the network. Accordingly, the option of being able to apply for a loan online is part of the standard program for direct banks. Of course, there are also exceptions with regard to direct banks, which offer their services both in the network and in stationary branches. However, these banks usually also offer the option of applying for the loan online.

Online credit also possible via private individuals

Online credit also possible via private individuals

If you want to apply for a loan online, you can do so via private individuals. Because in the meantime many private persons appear in the net as lenders. Their ambitions are defined by investment opportunities, or interest income, which results from the loan agreement. This option is being exploited by more and more platforms in the network, which bundle both supply and demand and bring both parties together in this way. To what extent a personal contact with a clerk is required then depends on the respective lender.

The rapid processing of loan applications

The rapid processing of loan applications

As a rule, the loan is needed immediately. Because a borrower is usually dependent on the sum. That’s why online loans are an attractive opportunity for many people to get cash quickly. At least, those concerned usually hope for a quick payout of the loan amount because they expect a quick processing because of the low effort. But how fast does the processing really take place and how long does it take to get online until the loan amount is on the account? Although the loan application does not take minutes or hours, in some cases a few days are crucial when it comes to receiving needed money. In addition many banks promise a fast processing of the loan applications.

However, the desired rapid processing only works if the applicant acts quickly and cooperates immediately with regard to the conditions. This means, for example, that the required documents have to be sent quickly in order to speed up the processing. These documents include the copy of the identity card, the last three proofs of income, current VAT returns, the Post-Ident, the completed loan application, and relevant collateral document. Only if these documents are received quickly and completely at the respective credit institution, a quick processing can take place.

Conclusion – That’s right

The Internet hosts a large number of lenders, which offer the possibility to apply for a loan online. In this way, the loan can be applied for without a conversation with the clerk, easily from home. Applicants should conscientiously cooperate and provide copies of the required documents to be sent to the lender as soon as possible in order to facilitate processing.