How quickly do you get a lightning credit?
How quickly you can get a lightning loan depends on many factors. There are lightning credits that can be paid out within a few to 24 hours and lightning credits that take at least 3-4 days to be paid out. In this article we explain why there are these differences and what you need to pay attention to so that a quick payment is possible.
What does the payout time depend on?
In principle, the payment duration depends on the amount of the loan. It is possible to get loans up to $ 3,000 within 24 hours, as the offer of Litebank proves.
Loans from $ 3,000 can be paid out within 3-4 days at the earliest.
There is currently no provider on the market that pays large amounts of credit starting at USD 3,000 within 24 hours. That is unlikely to change anytime soon. These differences have to do with verification and legitimation.
Payment and processing of lightning credit up to $ 3,000
As a rule: 3-4 days
When booking additional options: within 24 hours
This is an example when all the necessary documents are available and the credit decision is positive. A payment within this information is not guaranteed
Since the so-called mini-credit risk of up to $ 3,000 is not that great, applying for a loan is relatively easy and quick, since not many documents are required for the application. The application can be filled out online and the identification takes place within a few minutes using a video ID and your ID card. Due to the fast processing, these providers offer additional options such as express processing and express transfer. While these additional options involve additional costs, they allow you to receive the money the same day.
In addition to the Litebank, all mini credit providers offer this option for a fee.
Here is an example of what it might look like in the best case: You apply for the direct money from Litebank online with the additional option express transfer. Then carry out the video identification procedure for identification. In this case, you will receive your money the same day.
Payment and processing of a lightning credit from $ 3,000
As a rule: 5 days – 2 weeks
Optimally: 3-4 days
This is an example when all the necessary documents are available and the credit decision is positive. A payment within this information is not guaranteed.
For loans over $ 3,000, additional documents are required, which can only be submitted by mail in order to be verified correctly. The postal route alone takes 1-2 working days and therefore affects the payment duration of your lightning loan.
The following documents are generally required for a lightning credit from $ 3,000:
- ID card copy front and back
- Possibly bank statements with proof of wages
- Statement of existing liabilities
- fully signed loan application
Once you have all the documents together and signed the loan application, the next step is the post-identification process at Deutsche Post. Make sure that your working hours do not correlate with the opening times of Swiss Post, so that nothing stands in the way of applying as quickly as possible.
Reputable providers can process the application within one working day once all the necessary documents have been received and, if the credit decision is positive, can issue the instant loan on the same working day.
As a rule, if you carry out all steps within a very short time, you can have the loan amount in your account within 5-6 working days. At least that’s the experience of some lightning loan applicants from the Internet.
Here is an example of what it might look like in the best case: Monday morning apply online for a lightning credit. Print out the loan application, complete it and send it to the post office at noon for the identification process. Documents are at the bank’s clerk on Tuesday morning. The same day test gives a positive result.
Amount of money is instructed in the afternoon. A bank transfer usually takes 1-2 days. Therefore, the money can already be in your own account on Wednesday or Thursday. In the best case, therefore, it takes about 72 hours from the application to the payment.
Payout duration comparison table
|Loan amount||$ 50 – $ 3,000||from $ 3,000|
|Optimal payment||within 24 hours||from 3-4 working days|
|Express transfer||yes, for a fee||No|
|identification||via video ident||by post ident|
|Required Documents||Webcam or smartphone
|ID card copy front and back
Possibly bank statements with proof of wages
Statement of existing liabilities
fully signed loan application
|Loan term||180 days maximum||12 to 36 months|
A few years ago, it would not have been possible to get loans of up to $ 3,000 at lightning speed. The possibilities offered by the Internet have meanwhile developed into a market for reputable providers who offer fast lightning loans. However, we advise you to pay attention to all costs when applying.
Lightning loans with a payment within a few hours are usually more expensive than other installment loans, where the payment takes a little longer. So compare correctly and ask yourself whether you really need the money so quickly.