An expensive repair with a high bill or a new purchase often hits many consumers unexpectedly. Who then applies to a lender for an instant loan with a probationary period, is often rejected. For many lenders, the credit risk is just too high.
Nevertheless, some banks, credit agencies or credit marketplaces are willing to finance a loan with worse credit conditions.
Instant loan with probationary period – this is how branch banks react
In a financially difficult situation, consumers usually look for their house bank first. Most of the house banks are branch banks of savings banks or Volksbanken and Raiffeisenbanken. Consumers often have long and good business relationships with these financial institutions.
The institutions normally execute all their customers’ cash transactions and provide cash, credit cards and, of course, installment loans. An instant loan with probationary period is difficult to obtain at these banks. For these banks, lending is usually preceded by a consultation. Bank customers must make an appointment for this consultation appointment.
Depending on the workload of the clerk, a few days may pass by this date. Another problem can be the trial period. Since it is not certain whether the bank customer will continue to be employed after this time, the bank can reject an application. If a loan is still granted during the probationary period, the applicant must normally be able to offer additional collateral.
Additional collateral – this is accepted
Whenever an installment loan is applied for in Germany, the lenders check the creditworthiness of the applicant. This is usually done by soliciting the Schufa information and a subsequent credit check. This check ensures that the applicant can service the installment loan over the entire term. With a limited credit, many banks and financial institutions accept additional collateral.
These include various property and personal security. For example, savings assets, property values, high-quality works of art or funds and shares are accepted as collateral. Those who can not provide their bank collateral with this collateral require so-called personal security. These individuals are used either as guarantors or as additional borrowers. A credit bureau usually comes from relatives or acquaintances.
Banks place a high value on liquidity with guarantors. The second borrower can be a long-term life partner or a spouse included in the loan agreement. Guarantors and co-applicants are, as a rule, jointly and severally liable. In the event of a payment default, you can be seized immediately without a dunning procedure.
Instant loan from the internet – online and direct banks
More and more often loans are requested on the Internet. The offered loans of the online or direct banks are often cheaper than identical loan offers from conventional financial institutions. They can also be easily and conveniently applied from home. A loan is requested directly on the bank’s website. The online banks provide an application form on their website. All information is encrypted.
When entering the personal data, a Schufa information is obtained. If the information is positive, the applicant will receive a provisional loan commitment. In order for a loan agreement to come about, an online or direct bank requires the latest salary statements. In some cases, current bank statements are also requested. The credit documents are sent by post or with a document upload.
The legitimacy takes place by video or post-ident method. When verifying the documents, it will be noted that the applicant is in probationary period. An instant loan with probationary period will be rejected by online and direct banks in almost all cases.
Many different loan offers – Credit comparison at Creditend
The loan offers from the Internet are difficult to find manually. Anyone who wants to apply for an instant loan with a probationary period can go to a credit portal for a clear search. A simple credit comparison is possible on the comparison pages of Creditend. Creditend compares banks that provide loans from 500 to 120,000 euros. Depending on the provider and the amount of the loan, terms of 12 to 144 months are possible.
The comparison is simplified with a loan calculator. The required net loan amount, the repayment term and a purpose are entered into this calculator. On the comparison page, numerous banks immediately appear that are eligible for the selected loan. The displayed credit offers at Creditend always include the bank name, various product details, the installment amount, the borrowing rate and the annual percentage rate of charge.
Since the indicated banks always attach great importance to a good credit rating and a positive Schufa, a probationary instant loan is probably rejected.
Poorer credit requirements – credit marketplaces
Anyone who fails with his loan application to a conventional bank or an online bank can turn to a credit marketplace. Credit marketplaces are agency portals where private sponsors are matched with consumers who need an installment loan. Since on these portals other credit requirements apply than with banks, also an emergency loan with probationary period can be granted. At Creditend, this loan option is offered as a personal loan.
At Creditend, personal loans of 1000 to 50,000 euros are available. It can also 144 months, so 12 years are chosen as the term. When submitting an application, personal information is requested. It is obtained a Schufa information. The application will be completed by stating the income and expenses. An instant loan with probationary period is possible, as normally no salary statements are required.
Once the loan request has been published, the private lenders can submit a loan offer. Once an applicant has decided on a loan offer, a credit agreement can be set up.
Loans in difficult situations – credit agencies
Consumers can also apply for an instant loan with a probationary period to a credit intermediary. Credit agencies are financial service providers who have a license according to § 34 c GewO. The brokers work together with various banks at home and abroad. Thus, the credit intermediation has the opportunity to offer different loan models. If you are in the probationary period, you must offer the loan brokerage additional collateral.
These financial service providers usually accept guarantors or even a second borrower. For consumers who need an instant loan, it is important that they turn to a serious credit intermediary. Reputable financial service providers recognize consumers by different characteristics. The company should have been in the market for a long time. The ratings from customers must be mostly positive. Costs may only be incurred when a loan transaction is concluded.
Instant loan in probationary period – collateral
Consumers who need an instant loan have different options. The waiting time for almost all financial service providers is between three and seven days. Anyone applying for a probationary loan during the probationary period must be able to offer additional loan collateral to many banks and also to credit agencies.
Normally, the probationary period does not play a special role only for credit marketplaces. Consumers should definitely compare many loan offers.