The cheap instant payday loan is one of the best known or most requested payday loan types in Germany.

This type of payday loan actually works like a conventional installment payday loan . This means that the payday loan amount is paid out in one sum and has to be repaid in monthly installments. The instant payday loan offers a multitude of advantages for the customers.

We have briefly summarized some of the key benefits for you below:

  • low interest rate,
  • consistent monthly payday loan installments,
  • fixed interest rate over the entire term of the payday loan,
  • flexible payday loan amount,
  • payday loan repayment period adapted to your needs,
  • Hedging through residual debt insurance possible,
  • to apply simply and unbureaucratically,
  • Partial repayments possible at any time,

You can apply for a low-cost home payday loan at any time in the bank branch or via the internet. It does not matter which type of application you choose, you should make a credit comparison online before applying. A comparison is completely free, takes only a few minutes and can immediately show you the best offers as well as providers in the market.

Apply online

Apply online

If you find a suitable offer, you can apply for it online. All you need to do is fill out an application form completely and of course correctly and send it to the provider. Your application will be processed in the shortest possible time and you will receive a non-binding offer in a few minutes. In order to reach the credit agreement, your creditworthiness and your documents must be checked. The required documents in most credit institutions include the following:

  • payday loan application
  • ID card,
  • Proof of income,
  • A self-assessment from you,
  • Information on collateral (if necessary),

Credit rating

If everything is in order with your documents and you have a good credit rating, the payday loan agreement can be concluded. The payday loan amount can usually be disbursed in a few days after the conclusion of the payday loan agreement. However, the applicants have to fulfill some conditions in order to be able to receive a favorable cash advance. Most banks and credit institutions include:

  • Be of age
  • Being in permanent employment
  • Work for at least 6 months with the current employer,
  • Trial period is not allowed
  • No negative remark entries,
  • Permanent resident of Germany,

If you meet these conditions, so a cheap payday loan for you should actually stand in the way of nothing. As I said, but you should do before applying for free credit comparison, so you find something suitable. The conclusion of such insurance may even be part of the lending terms of some banks. However, we can only recommend the conclusion of a residual debt insurance or residual credit insurance. In an emergency, such insurance can help a lot. In the case of unemployment or inability to work, incomes usually fall and it can be hard for us to pay not only daily expenses but also the rates for a payday loan.

However, if you have made provision for the payday loan and have taken out a residual debt insurance or residual credit insurance, you will be safe in these cases as well. So you do not have to worry and can escape over-indebtedness.