As a consumer, there are numerous credit products available today. Many banks and credit institutions now offer a very broad portfolio. In addition to conventional credit products, such as an installment loan, many banks also offer new forms of credit. One example is credit with a bank transfer.
Credit with lightning transfer – characteristics
The credit differs only slightly from conventional credit products. Lightning transfer loans are often loans based on an installment loan. Lightning transfer loans are often repaid in installments. The installment repayment ensures a constant liquidity charge. A major advantage of repayment in installments is that interest costs can be significantly reduced. The remaining debt decreases significantly with the repayment of installments during the term.
Because the remaining debt is significantly reduced during the term, the interest costs are also lower. However, instant bank transfer loans have other advantages. Loans with lightning transfer can often be applied for on the Internet. Numerous online banks offer such a loan today. Since the loan is granted via the Internet, online banks can offer the loan at a lower price. The cost of providing, managing and granting the loan is much lower, which is why loans with lightning transfer can be offered at low interest rates.
The credit proves to be a very flexible financial product. Consumers can look forward to variable terms and a wide range of loan amounts. The flexibility of the financial product is also reflected in the repayment. In addition to the installment repayment, there is often also the option of special repayment. Consumers can therefore consider early repayment of the loan.
Credit with lightning transfer – quickly available
Since the loan can be applied for via the Internet, the loan amount is quickly available. As a consumer, you can fill out an application form online. Thanks to the electronic data transfer, the loan approval can be sent quickly. You can then already sign the loan agreement as a borrower. Today, the loan agreement is often transmitted electronically and can be downloaded as a PDF file. Alternatively, the credit agreement is sent by post.
Once the signed loan agreement has been received by the bank, the loan amount is transferred by means of a wire transfer. The bank enables the borrower to have access to the loan amount within a few minutes after receiving the contract with the bank. Payment is made to the borrower’s checking account.
Although the market for lightning transfer loans is still very manageable, a potential borrower can save a lot of money by comparing them online. The comparison is made possible by numerous online financial portals – using a loan calculator.