Loans that are paid out within forty-eight hours are considered instant loans. A prerequisite for this quick processing is, however, that the application is made by a time specified by the bank and not before public holidays or bank holidays, so that it is more correctly spoken of a payment after two bank working days.
According to an online application, a further acceleration is not possible for German credit institutions due to the postal period for the Postident certificate. Since a photocopy of ID card is sufficient for identity verification in Luxembourg, banks licensed there can even transfer an instant loan within one banking day. How does a low income affect the ability to take out an instant loan?
The simple but not legal variant
It often happens that customers take out an instant loan with low income and use system-related special features of fast loan processing. Since there is little time to process an instant loan application, several lenders refrain from submitting proof of salary if the loan amount is not too high. Nevertheless, they ask for the income of the loan customer in the loan application, although of course there is an obligation to provide honest answers.
Incorrect information from the borrower is not noticeable due to the unsolicited submission of proof of income, so that the loan is granted despite a low income. However, if borrowers have stolen their immediate low-income loan through dishonest information, the bank may terminate the loan without notice and file a criminal complaint. The intentionally incorrect information in the loan application is discovered if the borrower does not properly pay the agreed loan installments.
Better use legal methods
Honest borrowers do not sneak a loan through excessive salary information in the loan application, but use legal options to get an instant loan with low income. What is decisive for the household bill is less the amount of income than the amount of the monthly loan installment. The lender generally agrees to the loan if, after deducting the regular costs and the loan installment, the loan customer has enough money to live on.
Thus, the likelihood of approving a loan application can be increased by choosing a longer term, since this leads to a reduction in the monthly loan payment.
As a further option, low-income earners can offer a surety with a significantly higher income. Many people can partially compensate for a low income with low expenses, but instant credit on the Internet automatically takes average values into account for the cost of living for work-related reasons.
If you apply for a low-income instant loan not online, but in a branch of your house bank or another branch bank, you may be able to demonstrate that you spend less than your average citizen on normal living expenses and thus receive approval for your loan.