Cash payment may be a bit misleading, although there are, or at least were. Cash in cash on hand. Today it usually means access to cash. Each disposition or current account credit is thus a loan with cash payment, since money can be corrected at any time in cash. All freely available non-earmarked loans are also counted as cash advances.
But how to get the credit?
- It is also important:
- Cash advance is not equal to cash payment
- Credit with cash payment at the own bank
- Passbook, time deposit or disposition credit
- Serious loan without Schufa
- Not all offers are serious.
In general, a credit approval is relatively fast and unbureaucratic directly to the bank consultant or the Internet to have, if the credit rating is right . The repayment of the installment loan is made monthly or, in the case of credit facilities, even continuously. Interest rates on these instant loans may be relatively high, unlike earmarked loans.
But how to get the credit?
For a cash advance, the same conditions apply as for all loans. The creditor must be credible, even with documents prove that the loan is repaid on time .
The usual rule for banks is that the amount of credit must be matched by a correspondingly large income and there is an attachable exemption amount . The attachment exemption limit is just over € 1,000 for individuals.
With each person living in the household, the seizure freedoms increase, a higher income is required. A long-term employment contract and the durability of the employment relationship are considered positive. As a result, banks can be more confident that their credit will not be distressed over their lifetime.
The stable employment contract, which has been in existence for some time, and a regular income serves the bank as collateral. Therefore, it is also problematic for self-employed, small business owners and freelancers to obtain a loan.
A cash advance is the overdraft facility. If they receive a regular income, this is fast and unbureaucratic. However, the overdraft rates are quite high . An overdraft should be covered quickly, in no more than three months, and the bank account is in the bank.
It is also important:
Only the effective interest rate has to be considered. Because the effective interest rate indicates the total cost of a loan including all fees and commissions, whereas the nominal interest only the interest. Especially when buying installments pay attention to hidden costs and details of the interest rates .
In some cases, a cash payment by mail or in the bank is possible. The credits advertised by the credit intermediaries, especially without Schufa information, are mainly located abroad.
It is also possible to receive a cash payment from a German bank. But there is virtually no credit there without Schufa information. Before borrowing, a SCHUFA entry can be reviewed. This is quite easy with a written request by mail or e-mail. Corresponding sample letters are abundant on the Internet. If the score is bad, at least one German bank will not lend.
The determination of the score value (comes from “to score” and means points). The score has a range of 1 very good – 6 bad. The procedure is not transparent to laymen . It can be corrupted by loan requests that will not be deleted later, or by other factors (such as bad neighborhood!). Silty or hesitant paid bills like mail order rates. Sometimes even “forgotten” cell phone bills can degrade the SCHUFA score. So it often happens that the SCHUFA data can be faulty.
Also with the credit without Schufa to 3.500, – € you should be able to prove secure incomes. Here, the minimum income is net at 1,100, – € per month.
Cash advance is not equal to cash payment
A cash advance was previously paid in cash at the bank counter or by the money courier. Today, the payment of the loan amounts basically takes place by transfer to your account . Only in exceptional cases, there is still cash payment at the counter or money through the post. The financial institutions still call consumer loans “cash advances” – even if they are no longer.
In the application, you do not have to specify the purpose, the commitment is made solely on the basis of your credit rating. When paying cash, you run the risk of losing your money. In addition, the payment is associated with additional costs. Therefore, consider exactly whether a cash payment is really necessary!
Credit with cash payment at the own bank
Of course, you have the option to receive a loan with cash payment through your house bank. But only if the creditworthiness is right ! At a bank, you will not receive a loan without Schufa information. With a good credit rating, the loan will then be made available to you quickly – and also as a cash payment at the counter.
With online banks, you will receive the acceptance or rejection even within a few minutes. When you get the loan you want, it will not be long before money is in your account. As an additional service you can – for a fee – also request the payment by courier.
Passbook, time deposit or disposition credit
Before you take out a loan: Check whether it is worthwhile to use savings and daily allowances . It may even be worthwhile to terminate time deposits ahead of time – including penalty interest. The dispositions framework on the current account can also be an alternative. Disbursed loans are cash advances, after one-time approval, you can freely use and repay them. The Dispo is available without request.
Good to know:
You can pay off the sum in cash at any time! The Dispo is for a few weeks a real alternative: 2,000 euros credit cost at 10.5% interest only 0.58 euros a day.
Serious loan without Schufa
German banks are required by law to check the economic conditions of their borrowers. A credit without Schufa information can be serious if you conclude a contract with a foreign bank that does not cooperate with the German Schufa . Credit from abroad is also called “Swiss Credit”.
Serious loans without Schufa information, however, are always to get only with credit rating. Every lender wants to know if you can afford the installments. Apart from the Schufa request, the same test that would be carried out by a German bank is used: income, employment status – permanent or temporary – and length of employment. Their income is then compared with the current obligations.
Not all offers are serious.
If you are looking for Schufa-Free loans on the Internet, the water is often up to your neck – eavesdropping for rip-offs ! Any reputable credit intermediary must have the permission under § 34c of the industrial code (GewO) and refer to it in the imprint of its website. Attention: Costs are always a sign of unfair business practices.
You should not pay extra for sending the application forms, visiting a consultant, checking the loan request or telephone hotline. Do not even go for the fee-based insolvency advice you do not need! Do not conclude supplementary agreements until you have informed yourself of the usual market conditions. A residual debt insurance may be useful – but not if you should complete it under pressure.