A so-called Fast loan is a loan without a previous credit check information to check the creditworthiness.
The naming results from the fact that Fast credit and financial institutions in particular enable this type of loan. However, this award is also linked to certain prerequisites that must be fulfilled for them.
In particular, the person must have citizenship, be in an employment contract that has not been terminated for at least one year, the income must reach a certain level, the age limits must be between 18 and 55 years, and the remaining debt of an existing Fast loan may only be a maximum Amount to 600 dollars.
In contrast to credit check free credit, no purpose is to be specified for Fast credit or there is evidence of a specific use. The amount paid is freely available to the debtor.
Furthermore, the payment is made neutrally by post in the form of a cash check, as well as the repayment by bank transfer, so that the money movement cannot be traced by third parties. Depending on the lender’s termination, early loan repayment is possible.
Taking out a Fast loan can be an advantage if larger purchases such as cars, real estate or facilities are planned for which it would be difficult to obtain a loan if an existing loan, according to credit check, has to be paid off.
Due to your regulations, some banks cannot grant any further loans in the case of a credit check loan that has already been entered. In the meantime, credit institutions also offer comparable credit check free loans. The amount of the loan and the conditions depend on the respective bank conditions.
The maximum lending amount is currently 3,500 dollars and a maximum term of 40 months. There is definitely no entry in the credit check directory, not even retrospectively. However, the interest rate is usually significantly higher than the average interest rate for credit check loans.
An assignment of salary is required as security, but this is also required for loans subject to the obligation to pay.