Borrowers should be aware that, in some cases, after a loan application, it may take some time for the amount to end up in the account. However, it is not uncommon for borrowers to need the loan very quickly. The duration of loan processing is crucial for many clients. Therefore, more and more providers have specialized in keeping the process from borrowing to disbursement as short as possible.

Credit calculators offer the immediate payment of the necessary documents (goes online!) Within a few days.

From application to the payment of the loan

When a bank lends a loan, there is always a risk that the borrower will no longer pay the agreed installments and thus result in loan default. In order to keep this risk as low as possible, the review of the creditworthiness of the customer is a standard procedure of the bank. Particular importance is attached to the client’s ability to provide debt. That is, the borrower must be able to generate enough income to always pay his loan installments on the agreed terms. The income of the borrower comes first here.

On the basis of the submitted documents, the bank checks whether the income stated in the application corresponds to reality. But also the expenses of the borrower are important for a positive credit decision. The bank often requires bank statements from the previous month to get an overview of the expenses of the applicant. From the information, the bank can then see whether the borrower has enough money for the timely payment of credit installments. There are loans, for example for mortgages, for which collateral such as guarantees must be presented. These are also to be checked by the bank. The entire loan process, even for direct payday lenders,

can take some time. It always depends on how exactly the bank checks the financial circumstances of the applicant. The longer this takes, the longer the entire application process will take.

Duration of work processes at the bank

Some banks transfer the loan amount to the borrower after about four to five business days in his account. Those who promise the loan payment within 24 hours, should be considered again. Many dubious providers play with the plight of the people and take advantage of them. Very few providers can actually do that in a few hours. In other cases, it can take a few weeks to pay out the amount. It is not always possible to predict how much time the bank will ultimately need for credit processing. Various factors play a role here. The type of loan the borrower chooses is another important aspect. Similarly, the amount of the loan affects the speed of the payout. With large amounts such as a 50000 Euros credit ( in Europe’s cases), the credit institutes look even more carefully. It also depends on how many credit officers a bank employs.

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