It may happen that there is not enough money at the end of the month. Above all, those who need money quickly and easily will not get ahead with the multi-day application process for a regular installment loan. In such a case, taking out an expensive instant loan should only be the very last option. It’s worth checking some simple options in advance to bridge the bottleneck.
Ten Legit Ways To Get Money Fast
Check the discounts on the current account
Everyone has a checking account. If you have had yours for a long time and have also received regular salaries, chances are good that the bank has also granted you a credit line. This means that you can overdraw your account with a certain amount.
It’s not for nothing that the bank lends you money in this way. Some banks charge 10 percent or more of overdraft interest per year, others offer their customers better conditions. If you have a regular salary and a sufficient credit score, you can consider switching banks if your previous bank is too expensive to do so. You can find an overview of the cheapest overdraft conditions in our comparison of overdraft and overdraft interest.
Check credit line of credit
There is often a credit card for the current account. If you have one, check what type of card it is. The so-called charge credit card charges expenses once a month – often on a day of the current month – with the checking account. In this case, the bank grants a certain credit line for at least one month.
The DKB currently offers a free charge credit card with otherwise good conditions. If you have a regular salary and a sufficient credit score, you can think about such a card.
You can also borrow money for a month free of charge with a revolving credit card, a card with which you can pay off your debts in installments. However, you should not use the installment payment due to the high-interest rates. The Santander Consumer Bank offers a revolving card on good terms, but you have to take action yourself and pay your card debts once a month. Because the Santander Consumer Bank does not automatically debit sales.
Credit from friends and family
Those who are in financial need and for whom neither overdraft nor credit card is an option can ask friends and relatives for a personal loan. The loan from private individuals is a loan without credit.
Another advantage: Both contracting parties can determine the conditions (term, repayment, collateral) for the loan themselves. If in doubt, you will receive the money immediately. In order to avoid later disputes, we recommend that you write down the most important points of the agreement (loan amount, payment and repayment dates, interest rate). Use our contract template.
Loan from private via platforms on the Internet
If you are denied the opportunity to borrow money from friends or family, you can also try to get a loan from private individuals via platforms on the Internet. The credit agency plays a role here. However, providers also use their own models to assess the creditworthiness (creditworthiness) of their customers.
The platforms work with both private lenders and banks. The customer receives the loan from the bank; he also pays the loan installments back to them. The bank then passes the interest on private lenders. You can find out more about our personal loan guide.
Expensive instant money and short-term loans only in an emergency
If you want to borrow money quickly, you will also find offers on the Internet such as instant money from Targobank, emergency money calls from Fidorbank – or short – term loans. Providers are Vexcash, Cashper, and Xpresscredit.
All offers have in common that the money is transferred to the account on the same day. However, that costs extra. Anyone wishing to receive the Targobank instant money on the application day must pay 25 euros. Short-term loans are more expensive: depending on the amount of the loan, Xpresskredit also charges a fee of EUR 99 for the transfer on the same day. If you do not repay the loan on time, you will have to pay interest on late payments and dunning fees.
Instant credit or short-term loans are not possible without a credit check. Some providers check whether borrowers have a negative credit statement. In that case, no credit is given. Others check the creditworthiness according to their own criteria.