However, if you need amounts of 500 $ or to find a small loan with a loan amount of 2000-5000 $, it is important to compare the current conditions. Hello, I’m unemployed, but I get child support. I need a loan of 1500 USD. imant who knows at Weiz-AUSTRIA? The Viennese Start-Up Credi2 with InstantCash now offers 1.500 USD mini credit within 10 minutes in Germany and Austria. For a $ 1,500 loan, banks usually require submission of recent or recent income tax assessments. With the Video-Ident procedure, you do not even have to leave your house to apply for a mini-credit!
Requires 1500 USD short term amortization
Find the right loan – we support you. Need a loan? You can get credit quickly and easily on our online marketplace. But not only borrowers can invest profitably from the direct business, and private investors can use the new financial model to invest their assets profitably: that means for investors: a consistently good credit quality and a higher predictability of revenues.
The company is a comparatively young supplier of a quick micro-loan, which has been active in Austria as well as in the Federal Republic for about a year. However, the Austrian financial services company standing behind the article “InstantCash” can not be regarded as a classic of a mini-credit like Viloan.
The company acts instead as a credit intermediary. Simply put, cash flow takes care of lending on the internet without a branch. The so-called “key feature” is the assertion that the whole process from application to payment in no more than 10 min. can be completed. InstantCash offers you the technology for this.
The bank has partnered with Dundes bank to settle the loans. The heart of this new credit service is the website of the provider in combination with the program available for Apple iPhone and iPod touch. What options are there with us? Exactly out of this effort was not only the current product name “InstantCash”, but also the promise of 1,500 USD in 10 min. deliver.
InstantCash himself describes his offer as overdraft, without linking it as usual with a bank account. That’s why we prefer to call this loan a readily available small loan. So back to the credit offer of the Austrian startup. Using the USD 1,500 InstantCash will calculate an effective annual interest rate of currently 14.9% after an initial interest rate of 9.99% pa
With this interest rate, this loan offer is well above the market level and can no longer be described as interesting – as we first wrote. This rate, which has been in place since the beginning of September 2017, is not only about 50% higher than the national average of almost 10% for an overdraft, but also significantly higher than Vexcash’s current highest mini-loan with 13.95% per year.
With this rather significant increase in interest rates, InstantCash has certainly lost the momentum of a credit offer that initially seemed to be interesting. At this time, we already make a significant downgrade of our rating of cash overdrafts! Important note: According to InstantCash, there are no additional fees for borrowing.
By the way, if you are convinced by InstantCash and you believe that this could be well received by friends and acquaintances, you should try the corresponding invitation card of these people for InstantCash. For each accepted tender, the company will provide you with an additional credit line of 50, -, which means that up to 5 acquaintances can be invited.
What does InstantCash stand for? This is associated with the inclusion of up to 1,500 USD as a syndicated loan. But before you can really plan on the loan, you must identify the applicant. Such identification must be legal with us as with any other house bank. If the video chat is successful, all you have to do is sign up for the necessary credit agreement by electronic signature.
InstantCash sends the user to A-Trust, the technical service provider behind the signature process. These campaigns, which can be done entirely on the internet, also explain why the company uses this motto: “1,500 USD in 10 minutes! To what extent is the cash-office loan repaid? The Austrian company has come up with something very special in repaying the loan together with Dundesbank.
Anyone who takes out the loan undertakes to repay 5% or 20 USD of this loan each month. Note: Effective June 30, 2017, InstantCash has also changed its repayment terms to the detriment of its clientele. In principle, however, the following rules apply to InstantCash: The repayment rate of the loan – taking into account the minimum repayment rate – is always determined by the borrower.
This free space remains valid until full repayment of the loan every day. Another plus of InstantCash is that the date of the due date is not determined by InstantCash or the German Haulage Bank, but can also be arbitrary. The following calculations are no longer valid, as the interest and the minimum repayment have changed to the damage of InstantCash from 1 January 2017!
To illustrate the flexibility of the repayment options for cash-overdrafts, the following 3 cases are shown: As mentioned above, if the cash-for-sale loan is fully repaid within 30 days, it will not pay interest in such case. The monthly rate determined and determined by the customer is then retained by the company InstantCash with direct debit authorization.
If it is necessary to change the desired tariff or the minimum tariff, this can be done without any additional charges in the personnel area of the InstantCash account. The minimum amount of 3% of the loan amount used in this execution is payable at the latest at the end of the month. Decisive are the 3% of the stated loan amount.
However, this does not mean that (if possible) a larger part of the loan can not be disbursed to InstantCash. For annoying topic created the company InstantCash (Germany) or the company InstantCash (Austria) the following line: Direct debit created the company created the company credit bureau or the company InstantCash = no InstantCash-credit! If you have a paid credit bureau (KSV), please do not register with InstantCash.
The cooperation with the company created a service advantage. InstantCash ensures that potential buyers will know within a few minutes after registering whether they are even eligible for a loan. The creditworthiness data for Austrian debtors are requested by these agencies: A check whether the debtors also have a regular fee, apparently does not take place.
To what extent this has a negative effect on the credit default rate, must be presented only in the subsequent period. Who is the cash-to-cash credit? After adjusting the terms of the overdraft facility to the detriment of potential buyers, this credit is definitely only of interest to those who have a loan amount well over 600 to max. 1,500 for a maximum period of 30 days and want to avail of the interest exemption for these 30 days.
The prerequisite for this, however, is that a debtor subsequently is able to repay this loan income within the interest-free 30-day period. If not, the current 14.99% annual interest rate will hit your wallet hard, making the InstantCash overdraft facility really costly. More expensive than any other mini-loan and most of the overdrafts available on the domestic market!
That’s why we can not really recommend the cash-overdraft! Is the InstantCash a mini-loan or something? With regard to the cash offers of cash flow, the question is whether it should be an overdraft or rather a microcredit or microcredit. If you take a closer look at the loan offer, the solution should be: That’s the answer:
Basically, the offer of the startup in Vienna is a combination of several loans. However, a campaign on the homepage of the provider makes it possible to “identify” a connection to the mini-loan or 30-day loan in the classical sense. The one who now registers on InstantCash, has the opportunity to get the 1,500 USD for free use for 30 days without interest.
Can we compare this “generally” with the mini-loan offers of the lenders listed here on our Internet portal? For 30 days with no interest per immediate decision, InstantCash will provide you with a higher loan amount (1,500 USD). For longer terms, a comparatively high interest rate of 14.99% is calculated. The credit offers of the Austrians are now available for citizens of the Alpine country as well as for German nationals.