Credit Bureau not only registers gross breaches of contract for financial obligations, but also all loans granted. In the case of a loan without Credit Bureau, there is neither a request before the loan is issued nor a notification of the payment to the credit protection. The immediate payment means that the lender will instruct the amount to be paid out immediately after accelerated application processing is completed. A guaranteed availability of the money within two bank working days only exists with an instant loan.
Are there Credit Bureau free loans with immediate disbursement in Germany?
The typical loan with immediate payment and without Credit Bureau is the loan taken out in the pawnshop. The pledge loan does not require a Credit Bureau request because it is sufficiently secured by the pledge to be deposited. The mostly small amounts are usually paid out directly in cash at the pawnshop’s cash desk, the pawnbroker only transfers higher amounts of credit to his customer’s bank account. Another option for receiving a loan in Germany with an immediate payment and without Credit Bureau is for recipients of services from the job center. They can apply for an interest-free loan from their clerk if they need the money to purchase essential household items.
Credit Bureau-free loans with immediate disbursement from Switzerland or Liechtenstein
Swiss and Liechtenstein banks generally grant loans without Credit Bureau, as they are not authorized to obtain information from the German credit protection agency. You often need up to two weeks for loan processing for loan applications submitted directly via them. If customers would like to take out an instant disbursement loan without Credit Bureau in Switzerland or Liechtenstein, they should contact a reputable credit broker. You can recognize the seriousness by the fact that the customer does not charge any upfront costs or ask the customer to take out insurance before approving the loan. Many federal or Liechtenstein institutes offer to pay the loan in cash instead of the usual transfer to a bank account, with immediate payment and without Credit Bureau.
In this case, additional costs arise, while the acceleration of the payment process is no more than one day for Swiss and two days for Liechtenstein financial institutions. The interest is higher for a loan with immediate payment without Credit Bureau than for a Credit Bureau-free consumer loan with a processing time customary for banks. A premium for quick loan processing and disbursement is justified. So that the customer does not pay unnecessarily high interest, he compares several offers with each other before the contract is concluded.