If you just need cash quickly, you don’t have a large selection. Cash loans are almost non-existent in our modern times. Anyone looking for a cheap cash loan must contact a branch bank. The house bank offers itself, even if it cannot always score with low interest rates. Other branch banks also offer cash advances.
The advantages of a cash advance
In contrast to the classic loan model, the cash loan is not transferred to the account. The borrower receives the money in cash at the counter. In contrast to the direct banks, the branch banks mostly ask about the purpose. The money can be used for all sorts of purposes, but the banks want to know the reason for the cash loan cheaply.
The overdraft facility
Another form of cash advance is the overdraft facility on the checking account. If you had a good Credit Bureau when you opened the current account, you get a overdraft facility from the bank. The money can be withdrawn cash at the machine or at the counter within the specified credit line. The use of the dispos is only worthwhile for a short period of time. The interest for this is very high.
Another advantage is that the customer does not have to wait long for the cash loan to be paid out. With an online application, it takes several days for the money to reach the account. The cash credit is immediately available after checking the Credit Bureau and the income situation of the customer. If you’re in a hurry, there’s no way around a branch bank.
What the customer should pay attention to with a cash loan
A cash loan also shines through the conditions. Before taking out a loan, you should inquire beforehand whether free special repayments are possible. Most branch banks charge fees for this. It is a matter of negotiation whether the branch bank waives it or only charges a small percentage of fees based on the loan amount.
When looking for a suitable bank, it is also interesting to see whether it grants a break in payments. Astro Bank is a branch bank where the first installment must be paid after 89 days. In addition, it also offers an annual installment break if the customer has a financial bottleneck. The Astro Bank has a broad branch network. As with other branch banks, the cash loan can be taken directly after a promise. A payment to the checking account is not necessary. Before a commitment is made, the Credit Bureau is also checked at the Astro Bank.