If you’re in a financial crisis, an “online loan with instant payout” sounds like a last-minute rescue. But what does “instant” actually mean here? We’re not talking about transferring money at the speed of light here, but an extremely accelerated process – from the initial request to the credit to your account. Thanks to completely digitalized processes, the money often ends up where it is needed on the same working day.
What instant payout really means
The term “instant payout” is a promise of maximum speed, not magic. The traditional trip to the bank – with an appointment, paperwork and days of waiting – is simply replaced by a seamless digital workflow. That’s the whole trick.
Imagine it’s Monday morning and your car needs an unexpected repair for €1,500. In the past, this would have meant making an appointment at your bank, collecting proof of salary and hoping. Today, you apply for the loan online and, in the best-case scenario, you’ll have the money in your account by the afternoon to pay for the repair. A huge difference.
The technology behind the speed
How do the banks manage this? The secret lies in three clever digital helpers that shorten the entire process from days to just a few minutes:
- The digital account view: Instead of digging through and scanning bank statements, you give the bank one-time, secure read access to your online banking. An algorithm then checks your incoming money and expenditure in seconds and assesses your creditworthiness.
- Video identification: The law stipulates that your identity must be verified. Today, this can be done conveniently via video chat. You simply hold your ID up to the camera on your smartphone – it usually takes less than five minutes.
- The digital signature (QES): The contract is also signed completely digitally, and in a legally secure manner. You don’t need a printer or an envelope. A TAN that you receive by text message is usually enough to complete everything.
These digital tools are the driving force behind fast processing. And Germans are ready for this: according to a survey on Statista, 81% of respondents already use online banking. This shows how deeply digital finance is already anchored in our everyday lives and creates the basis for such fast credit processes.
The decisive advantage is not only the sheer speed, but above all the convenience. You can complete the entire application from your couch without even having to set foot in a bank branch.
To give you a better idea of how radically the process has changed, here is a small comparison.
Process of an instant loan compared to a branch loan
This table shows at a glance exactly where time is saved if you choose the digital route.
| Feature | Online loan with instant payout | Traditional branch loan |
|---|---|---|
| Credit inquiry | Possible online at any time, takes approx. 5-10 minutes | Only during opening hours, by appointment only |
| Documents | Digital (account view), no paperwork | Bring paper copies (salary slips, statements) |
| Identity check | Immediately via Video-Ident (approx. 5 minutes) | In person at the branch, bound to the appointment |
| Credit decision | Mostly automated within minutes | Manually by consultant, often 1-3 working days |
| Conclusion of contract | Digital via QES (approx. 1 minute) | Signature in the branch, by post if necessary |
| Payout period | Often on the same working day, in seconds for real-time transfers | 2-5 working days after approval |
The difference really is night and day. The online process practically eliminates all the waiting times caused by manual steps and postal routes with traditional branch loans.
As soon as your application has gone through, the bank will initiate the transfer. If they do this during normal business hours and offer real-time transfers (instant payments), the amount can actually be in your account within seconds. You can find a great overview of the best providers in our current instant loan comparison for 2024, which will help you find the fastest and fairest offers.
What you need to bring along for a quick approval
An instant payout doesn’t just fall from the sky. It is the result of a perfectly coordinated digital process. To ensure that this process runs like clockwork and you are not slowed down by annoying queries, a few basic things have to be right. You can think of it like building a house: The foundation must be absolutely solid.
Today, banks base their decision on three main pillars, which they check fully automatically and in just a few minutes. If everything fits here, there is practically nothing standing in the way of a commitment.
The three pillars of the quick credit decision
- A clean credit rating: this is by far the most important thing. The bank simply wants to know whether you pay your bills reliably. To do this, it obtains information from SCHUFA in the background, which contains your personal score.
- A clear identity: you must be able to prove beyond doubt that you are really you. This is not only a legal requirement, but ultimately protects everyone from fraud.
- A German current account: The loan is paid out to this account. The monthly installments will also be debited from here later by direct debit. It is, so to speak, your anchor point for the entire process.
These three points are checked seamlessly and in real time in the digital application. The better you are positioned here, the higher the chance that the algorithm will give the green light for the online loan instant payout.
Why creditworthiness and income are the key
Let’s take a very practical example: Markus. He has finally found his dream apartment, but he doesn’t have the money for the deposit and the first furniture in the short term. His goal is clear: quick and uncomplicated financing without having to wait weeks. His huge advantage? He has a permanent, open-ended job as an employee.
A regular income from employment is the strongest signal of financial stability for any bank. It proves that you will be able to make the installments month after month. Self-employed or freelancers often have a harder time here, simply because their income can fluctuate and it is more time-consuming for the bank to check.
My personal tip: Take a look at your SCHUFA score before you submit an application. You can request a free copy of your data once a year. This will enable you to detect any incorrect entries in good time and avoid nasty surprises at the crucial moment.
Incidentally, the demand for such financing is huge. A survey shows that 42.4% of Germans want to finance larger purchases with a loan because their savings are often insufficient. You can find more exciting insights into Germans’ willingness to spend at springerprofessional.de.
The digital checklist for your application
You should have a few little things to hand so that the application for the online credit instant payout is really completed in just a few minutes. Even if the digital account view automates many things, these items are worth their weight in gold for identity checks or any queries:
- Valid ID document: Have your ID card or passport ready for identification via video chat. It never hurts to take a quick look at the expiration date.
- Access data for online banking: For the digital account view, you need your login name or PIN and your smartphone or TAN generator for approval.
- Current payslips: In most cases, you no longer need to upload these, but it’s good to know where the last two or three payslips are stored on your computer in case you do need them.
This little preparation will ensure that you can go through the application process without interruption. You can find detailed advice on how to get your application on the road to success right from the start in our guide on tips and tricks for a successful loan application. This will help you avoid the typical stumbling blocks that often prevent a quick approval.
How the digital loan application works today – quick and easy to understand
The way to get an online loan with instant payout has changed completely in recent years. Forget thick folders and a trip to the post office. Today, the whole process is a digital sprint that gets you to your destination in just a few minutes. Let me show you how it really works in practice, from the first thought to the digital signature.
The search usually starts in a relaxed manner on a comparison portal or directly at a bank. There is usually a loan calculator there that you can play around with a bit. Simply change the loan amount or the term and see how the monthly installment reacts. This will give you a real feel for what suits you, without any sales pressure.
From account overview to digital ID check
Once you have found a suitable offer, it’s time to get down to business: the application. The first big turbo here is the so-called digital account view. Instead of laboriously collecting account statements from the last few months, you allow the bank a one-off, secure insight into your online banking. This may sound strange at first, but it is an absolutely established and secure process. An algorithm then scans your income and expenditure fully automatically and makes an initial credit rating decision in a flash.
Next, of course, the bank has to make sure that you really are you. In the past, this meant going to the post office for the Post-Ident procedure. Today, you can do this from the comfort of your sofa using the Video-Ident procedure. You simply start a short video chat, hold your ID card up to the camera on your cell phone or laptop and a trained employee confirms your identity. The whole process usually takes less than five minutes.
This graphic shows how the individual steps interlock to speed up the process enormously.
You can clearly see that the three pillars – creditworthiness, identity and account information – are now checked in parallel and in real time. This is precisely the secret behind instant approval.
The legally compliant conclusion with one click
The only thing missing is the signature under the contract. But you don’t need a pen or printer for this either. With the qualified electronic signature (QES), you can sign digitally. This is legally equivalent to your handwritten signature. As a rule, you simply confirm the whole thing with a TAN, which is sent to your cell phone by text message.
If you are well prepared, the entire process – from the first click on the computer to the digital signature – can be completed in less than 15 minutes. The clever combination of Kontoblick, Video-Ident and QES makes it possible.
A smooth process is the be-all and end-all here. So it’s best to have your online banking access data and your ID ready so that there are no unnecessary pauses. The system is designed for speed, but of course it needs the right information from you.
If you want to delve deeper into the topic, you can find more valuable tips on the loan application in our magazine. So you’ll be ideally equipped for a quick and successful conclusion.
Typical hurdles when applying for a loan – and how to avoid them elegantly
Nothing is more annoying than when you urgently need money and your loan application is unexpectedly put on hold. Although the process for a loan with instant payout is now largely automated, there are always classic stumbling blocks. The good news is that if you are aware of them, you can usually get them out of the way in advance.
An absolute classic is a negative SCHUFA entry. Even if the matter goes back years, such a feature can be a direct knock-out criterion for the bank’s algorithm. My practical advice: Proactively check your own creditworthiness before you even submit an application. This way, you can have any errors corrected and start with a clean slate.
Job and income as a sticking point
Many banks are just as critical of insecure employment. If you are still in your probationary period or your employment contract is for a fixed term, this often sets alarm bells ringing for lenders. The logic behind this is simple: the bank wants to be sure that you can reliably repay the installments over the entire term. An insecure job means a higher risk for them.
What is often underestimated are small errors in the application itself. A simple transposed number in the zip code or a slightly different income figure – and the application is thrown out of the automated process. An employee then has to check it manually, which costs valuable time.
From my experience: If you are planning a debt restructuring, i.e. you want to pay off an old loan, precision is everything. Have the exact remaining debt and the contract number of the old loan ready. Missing or incorrect information at this point is one of the most frequent causes of annoying queries and delays.
Setting the application up for success right from the start
To avoid these typical pitfalls, it is often enough to pay attention to a few small details. These details may seem inconspicuous, but they increase your chances of a quick and smooth approval enormously:
- Stay realistic: Choose a loan amount and a rate that really match your disposable income. An overly optimistic budget calculation, where the installment exceeds the budget, is a very common reason for rejection.
- Include everything: Do you have regular additional income, for example from a mini-job or a rental? Be sure to state this if you can prove it. Every euro improves your position.
- Make clever enquiries: Do not make a hard “credit inquiry” with several banks at the same time. Each of these will be noted in your SCHUFA. Instead, always use the non-binding “conditions inquiry” – this is credit-neutral and won’t damage your score.
It must also be said that many banks tighten the reins, especially in times of economic uncertainty. The German Bundesbank regularly reports that institutions are tightening their lending guidelines due to higher risks. Platforms such as Finanz-Fox help here by making the offers of various providers transparent and thus guiding you to the right loan even under stricter conditions. You can find out more about this in the Bundesbank’s lending survey.
If a classic installment loan is perhaps not the best solution for you, there are flexible alternatives. In our guide, you can find out all about mini loans as an option for smaller loans and find the financing that really suits your situation.
Sometimes it doesn’t have to be a big loan: clever alternatives at a glance
A classic online loan with instant payout is a great thing, but it doesn’t always fit like a glove. What if the washing machine breaks down, but the amount you need is simply too small for an installment loan? Or if you only need the money for a few weeks until your next salary arrives in your account?
There are smart financial injections for precisely such moments, which are often more flexible and less complicated. Sometimes a large installment loan is simply too big. Instead, there are tailor-made solutions that can help you out of a tight spot without tying you down for the long term. Two of these options have proven particularly successful in practice: the mini loan and the good old overdraft facility.
The mini loan: the financial band-aid for in between
The name says it all: a mini loan is a loan for small everyday financial emergencies. The amounts usually range between €100 and €1,500. However, the real strength lies in the extremely short term – the amount is often repaid in full after just 30 or 60 days.
Imagine the car repair is more expensive than you thought, but there are still two weeks to go before you receive your salary. This is where the mini loan fills the gap perfectly. The application process is usually even more streamlined than with normal online loans and the creditworthiness requirements are often a little more relaxed. But beware, this convenience comes at a price.
Mini loans often have a significantly higher APR than traditional installment loans. If you want to have the money paid out by express payment, you usually pay extra. So take a very close look at the total costs before you sign.
Conclusion: The mini loan is great for short-term bridging. However, it is definitely the wrong choice for larger purchases or as a permanent financing solution.
The overdraft facility: your built-in cash reserve for emergencies
When it comes to pure speed, the overdraft facility (overdraft facility for short) is unbeatable. It is practically the built-in emergency reserve in your current account. Once set up by the bank, you can overdraw your account at any time up to the agreed limit. No application, no forms, no waiting time – the money is simply there.
This uncomplicated access makes the overdraft facility the first choice when every second really counts. The big catch, however, is the interest. They can be very high. A good overview of the best offers is therefore essential. If you want to compare different types of credit, our guide provides a comprehensive credit comparison to help you find the best deal.
Here you can see a direct comparison of the two options:
| Feature | Mini loan | Overdraft facility (Dispo) |
|---|---|---|
| Availability | After a quick online application | Immediately, without a new application |
| Amount | Small, mostly up to € 1,500 | Flexible up to the credit limit |
| Runtime | Very short, often 30-60 days | No fixed term |
| Costs | High effective interest rate, often additional fees | Very high overdraft interest rates |
| Ideal for | Planned, small expenses | Spontaneous, unforeseeable bottlenecks |
All in all, the overdraft facility is a fantastic hedge for absolutely exceptional situations. However, due to the high costs, you should really only use it for a few days. As soon as it is foreseeable that you will not be able to pay off the amount immediately, a low-cost installment loan is almost always the more economically sensible decision.
Questions and answers about online loans with instant payout
It sounds almost too good to be true that you can get money at lightning speed these days. And of course, when you’re in a hurry, you don’t want any nasty surprises. That’s why I’ve collected the most frequently asked questions that I come across time and again in practice. So you can get started with peace of mind and good information.
Hand on heart: how quickly does the money really arrive?
To be honest, the term “instant” is pretty accurate. If your application goes through completely digitally – i.e. with a video identity check and digital signature – the transfer can often be sent out on the same working day.
The decisive factor here is the time at which you make the request and, above all, the bank’s technology. Many modern providers rely on real-time transfers, also known as instant payment. Once the confirmation has been received, your cell phone often beeps with the confirmation of receipt after just a few seconds – even in the evening or at the weekend. In the worst case, however, if something is checked manually or your bank does not receive real-time transfers, we are still talking about a maximum of 24 to 48 hours.
Can I get a quick loan like this even if I have a negative SCHUFA?
Unfortunately, I have to speak plainly here: The chances of this happening are close to zero. A serious loan with immediate payment despite a negative SCHUFA entry is practically impossible with German banks. The credit check is not only there to protect the bank, but is also required by law – it protects you as a consumer from over-indebtedness.
A negative entry means a high risk for the bank, and that simply doesn’t fit in with an automated, fast process. The few providers that advertise with “Credit without SCHUFA” usually have significantly worse conditions and take much longer to check.
Your SCHUFA score is your ticket to a fast and fair online loan. My tip from experience: always pay your bills on time. This is the best way to maintain a good credit rating.
What paperwork do I need to collect for the application?
The best news first: usually none at all! The whole process is now so cleverly structured that you can save yourself the hassle of searching for documents. The two decisive steps are completely digital:
- The digital account view: Instead of scanning payslips and bank statements, you simply give the bank one-time read access to your online banking. An algorithm then checks your income and expenditure in a matter of seconds. Totally practical.
- Video identification: You only need two things for this: a valid ID document (ID card or passport) and your smartphone or a webcam on your laptop.
All the paperwork of the past is completely eliminated. Your financial situation and identity are checked purely digitally.
Is this completely digital application even secure?
Yes, absolutely. Reputable providers invest an enormous amount of money and effort in the security of their systems. Data transfer during the application process always takes place via highly encrypted connections – you can recognize this by the small lock symbol and the “https” in the address bar of your browser.
The processes used, such as video identification and the qualified electronic signature (QES), are also strictly regulated by law and meet the highest European security standards. You can therefore rest assured that your personal data is optimally protected.
Ready to create new financial leeway quickly and easily? At Finanz-Fox you will find transparent loan offers that really suit you. Get started now and experience a completely digital process with lightning-fast disbursement. Find your ideal loan now at https://www.finanz-fox.de.
