What you should look out for in a loan with 100% commitment
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CAN I GET 100% APPROVAL FOR A LOAN?
The approval of a loan depends on various factors. Many providers require a regular income and a good credit rating for a fixed approval. However, there are also service providers who can approve your loan even if you have a poor to medium credit rating and no proof of income.
You should always be careful when applying for a loan with 100% approval without checking your creditworthiness. There are many dubious providers, so you should check carefully whether lenders are trustworthy. Pawnbrokers are an exception to this, as you can use collateral as security in this case. A commitment without checking your financial situation is quite normal there.
WHAT REQUIREMENTS DO I HAVE TO FULFILL FOR WHICH LOAN?
If you are looking for a loan with a fixed commitment, there are different requirements for getting money in addition to being of legal age:
Proof of income: If you have sufficient income, the bank can usually set up an overdraft facility for you immediately, for example, allowing you to overdraw your account by up to three months' salary. A fixed commitment for a consumer loan will also normally not be a problem if you have sufficient salary and a positive credit rating.
Valuable item: If you own an item that you can deposit as collateral (e.g. jewelry, watches, electronics or a car), you can take out a loan for it. Depending on the value of your item, you will be paid out a percentage of it as a loan.
Good credit rating: There are providers of personal loans that only require a good credit rating for a fixed commitment up to a certain amount of money.
Property ownership: If you own a property, this increases your chances of getting a fixed commitment from the bank. The bank can be entered in the land register and pawn your property if you become insolvent. This gives you the chance of a fixed commitment even if you have a less good credit rating.
Important: Please note that a 100% approval for a loan does not necessarily mean that the application will be approved in the end. Many providers only check your application in more detail afterwards and require confirmation of your details, which can sometimes change the decision.
WHICH TYPE OF LOAN IS BEST FOR ME?
It all depends on your personal situation. Below we show you which type of loan might suit you best.
Loan from the bank: This loan is suitable for you if you have a fixed, regular income and a good credit rating. In order to give you a 100% approval, banks usually require bank statements and salary statements from you. In addition, a query is made in the debt register such as the KSV. If you are self-employed, banks usually ask for documents such as tax returns, balance sheets and profit and loss statements. If you are sure that the bank considers your income to be stable, you have a good chance of being approved.
Private loans: Platforms that put you in touch with private lenders are usually more flexible in their offers. As a self-employed person with an irregular income, you can get a fixed commitment if your credit rating is right. Smaller amounts can often be granted without further documentation if you have a medium to good credit rating.
Pawn loan: A pawn loan is suitable for you if you need your money very quickly and have one or more collateral that you can deposit as security. If you have difficulties with other forms of credit due to your credit rating or professional situation, a pawn loan can be a good alternative. Your financial situation does not play a role in the 100% approval of a loan and the money is not earmarked for a specific purpose.
Loan from friends or family: If you know that your family or friends are able to lend you money, this form of loan is usually the cheapest. It often takes some effort to ask and you have to disclose your financial situation. However, the loan is often interest-free and repayment is flexible.
CAN I ALSO REPAY A PAWN LOAN IN PARTS?
Yes, that is possible. If you repay a partial amount, the interest for the following month will be lower.
HOW SERIOUS IS A LOAN WITH 100% COMMITMENT?
Whether a loan with a guaranteed commitment is secure depends on both the type of loan and the various providers.
Classic bank loans: A bank will only approve 100% of your loan if your credit rating and your household accounts are correct. This means that your expenses must not exceed your income. You must also be able to show regular salary receipts or, for example, own a property that you can use as collateral. In this case, you are usually on the safe side.
Pawn loans: For you as a borrower, pawn loans from a reputable provider are safe. Make sure that you only use trustworthy pawn shops. You can recognize them, for example, by the fact that they list their fees transparently on their homepage. You can also check other customer reviews to get a better overall picture.
Online loans & loans from private individuals: Reputable providers of online loans are generally a safe way to get a loan with 100% approval. These can be, for example, partners of banks or established platforms for private loans (e.g. Auxmoney).
Important: Always read the small print and check, for example, whether your desired provider has an imprint and address. Many negative customer reviews can indicate that the provider is not reputable.
CAN I GET A MINI LOAN IMMEDIATELY?
Yes, this is possible with the following providers:
Private loans: If a KSV check is positive, you can receive your approval immediately. Many providers carry out the check within a few minutes. You can identify yourself online right away and sign your contract by text message. However, it will take a few days until the loan is paid out.
Mini loan from banks or savings banks: Many banks now offer mini loans with instant approval and instant payout. If your credit rating is good and you have regular salary receipts, you can have your money paid out straight away.
Mini loan from pawnshops: All you need for a pawn loan is an item of collateral that you can use as security. You will be paid out a partial value of your item immediately as a loan.
Mini loan from family and friends: If you can find someone in your area who can lend you money, this is often the cheapest and easiest solution for you. However, make sure that you can pay the money back.
WHAT REQUIREMENTS DO I HAVE TO FULFILL?
To get a 100% approval, there are various options with different requirements. We'll tell you under which conditions you can get which loan:
You own collateral: If you own an item that is valuable enough for a loan, you can borrow money for it at a pawnshop. All you need is an ID that confirms you are of legal age.
You have a good credit rating: If you have a good credit rating, this is often sufficient as a prerequisite for private loans. Choose a reputable provider and state your loan request. After a brief query in the debtor directory, you will receive approval and only need to identify yourself online.
You receive a regular salary: If you have a regular income, you have a good chance of receiving immediate approval for your loan from banks with a good credit rating. You usually need three payslips or one annual payslip, a permanent employment contract and a good credit rating. Alternatively, real estate can also be used as collateral.
You own land or real estate: In this case, you can use your property as collateral with the bank. In the event of insolvency, the bank can auction off your property.
Do I have to upload my documents for online loans?
Yes, your identity card or passport and, if applicable, payslips or other proof of income or bank statements must be uploaded for an online loan.
WHAT ARE THE ADVANTAGES AND DISADVANTAGES OF A LOAN WITH 100% COMMITMENT?
The advantages and disadvantages differ depending on the provider. We have summarized the most important points for you:
ADVANTAGES | DISADVANTAGES |
|---|---|
You will receive a quick confirmation. | You must beware of dubious providers. |
You often need fewer documents - such as for a pawn loan. | You make quick decisions more easily. |
You know immediately whether you will be accepted even if you have a poor credit rating. | The fees are often higher for a quick commitment. |
HOW DOES A LOAN WITH 100% COMMITMENT WORK?
If you meet certain conditions, the process is usually quick and easy:
You select your desired loan.
You show who you are by identifying yourself with your ID.
You show how you can repay the loan (e.g. with payslips) or put up collateral (at a pawnshop).
You receive your money by bank transfer or collect it in cash from a pawn shop. With some providers, you can also have your loan paid out via PayPal.
You pay back the money in installments or settle or extend your pawn loan.
HOW FLEXIBLE IS THE REPAYMENT?
That depends on the type of loan you have chosen.
With fixed installments, you always pay the same amount each month. However, if you agree to it, early repayment or deferral is often possible.
With flexible installments, you can sometimes pay more and sometimes less. Low installments are often associated with higher costs. However, if you have your finances well under control, you can also make special repayments free of charge by agreement and thus remain flexible.
You take out a pawn loan for 30-90 days, but you can also extend it at any time or pay it back earlier. A pawn loan is more suitable for short-term bridging. You can also get your pawn ticket online from pawnbrokers such as CASHY. You can easily process extensions and repayments in your account from your cell phone if you wish.
Tip: You can also repay a pawn loan in parts. This also reduces the monthly fees until you can get your item back in full.
*Source: Kredite.org
WHAT INTEREST RATES SHOULD I EXPECT FOR A LOAN WITH 100 % COMMITMENT?
Interest rates can vary greatly depending on the provider. Interest rates are generally lowest with conventional consumer loans from banks. However, you usually need a fixed incoming salary and a good credit rating.
With pawn loans, the loan is secured by a valuable item. You can find the amount of interest from reputable providers transparently on the website or directly in the store.
Online loan providers and providers of instant loans also grant loans to people with less good credit ratings. Interest rates can therefore range from 5 % to over 20 % p.a.
WHERE CAN I GET CASH IMMEDIATELY?
If you need cash immediately, it's best to use the following options:
Go to your bank and ask for an increase in your overdraft facility. If you are approved, you can often get money from the ATM on the same day.
Take a valuable item or your car to a pawn shop. You will be paid out a partial value in cash immediately. Make sure that you only get your collateral back once you have repaid the money. You can continue to drive your car during the term of the loan.
Borrow money from friends or family. If you are in an emergency and ask for help, people around you are often willing to help you.
Look for a job with immediate payout. Many employers are urgently looking for support and often have the option of paying you your salary on the same day.
IMPORTANT QUESTIONS AND ANSWERS
Is there a loan with 100% commitment?
Yes, there are various providers who can give you an immediate approval for a loan.
Will I get my loan paid out immediately?
It depends on the provider. Lenders such as pawn shops will pay out your money immediately.
Do I have to be in an employment relationship?
No, there are also providers who can pay out a loan without you being employed.
Can I get a loan with 100% approval even if I have a medium or poor credit rating?
Yes, this is possible with private loans or pawn loans, for example. Banks can also give you a loan with a medium credit rating under certain conditions. You will need other collateral such as real estate or a guarantor.