The bank refusal of a loan application simply means that a requested financial institution does not approve the desired loan. It does not in any way preclude other credit banks from approving the loan. An instant loan is mostly paid out within two bank working days; credit institutions point out deviations.
Analyze the reason for the rejection
Before consumers apply for an instant loan despite a bank refusal, they analyze the reason for the refusal of the initial credit request. A common reason for a bank refusal is that loan seeker applies to a bank whose published terms and conditions already exclude them as loan customers. Not all financial institutions grant loans, particularly to temporary workers and the self-employed. Many banks also give an indication of why they could not fulfill a loan request.
If your income is too low for the repayment rate to be paid, an extension of the loan term often helps. If bad Schufa information is the cause of the loan refusal, an immediate loan can be obtained through a Swiss financial institution despite the bank refusal. Unlike German direct banks, the federal banks generally refer to loans with a processing time of up to one week as immediate loans.
The waiver of proof of income helps with lending
In many cases, direct banks approve an instant loan without proof of income despite the bank refusal. This is especially true if the income of the loan seeker is made up of various factors. Quite a few financial institutions only count the income from their main job and child benefit, but not secondary earnings and maintenance payments.
In the case of instant loans without proof of salary, dishonest information is, of course, impermissible, but no one can prevent the applicant from adding up all the regular income he has generated and, if the amounts are not paid monthly, forming a monthly average.
Fixed-term contract of employment
Even employees with a fixed-term contract of employment often successfully apply for an instant loan that can be obtained without the presentation of customary bank documents, despite a bank rejection of their first loan application, since the instant lender is not aware of the provisional employment relationship.
The waiver of the submission of the employment contract and proof of income has practical reasons because, in view of the shortened credit processing time, a complete examination of the submitted documents would not be possible anyway.