Digital loan enquiry: Get money in 5 steps without paperwork
11/06/2025
6
Minutes
Katrin Straub
Managing Director at nextsure
Do you need funds quickly, but are put off by the lengthy process with countless documents and long waiting times? A digital loan application can often be completed entirely online in under 24 hours. Find out how you can obtain your loan quickly and securely without the hassle of paperwork.
The topic in brief and concise terms
A digital credit application can shorten the entire process from enquiry to disbursement to under 24 hours.
Key technologies such as video identification and the qualified electronic signature (QES) make the process completely paperless and legally valid.
Thanks to digital account access, proof of salary is often no longer required, which significantly simplifies the application process.
Accelerated process: From enquiry to payout in under 24 hours
During classic loan applications, processing times can be five to ten working days, whereas a digital loan enquiry is often completed by the next day. Many providers advertise payout within 24 hours if all steps are carried out digitally. This speed advantage of over 80 per cent is made possible by automated processes and the elimination of postal delivery times. The entire process from data entry to contract signing takes place online. The instant credit decision offered by many digital platforms gives you an initial response to your enquiry within minutes. So weeks of waiting becomes a matter of hours.
Key technologies that make paperwork obsolete
Two technologies are crucial for processing a digital loan application quickly and without paperwork: the video identification process and the Qualified Electronic Signature (QES). The video identification process replaces a trip to the post office and often takes just five to ten minutes. Your identity is then confirmed by a certified provider via video chat using a valid identity document. The QES is legally equivalent to a handwritten signature and enables legally valid contract signing on screen. This combination meets all legal requirements and makes the process 100 per cent digital. A secure online identification process is the basis for a quick completion.
The digital process typically unfolds in these five steps:
Calculate the loan online and complete the application form.
Carry out a digital credit check (often via account access).
Confirm your identity via the video identification process in just a few minutes.
Sign the loan agreement digitally with a QES confirmed by SMS TAN.
Receive the payout, often as soon as the next working day.
Reduced requirements: Which documents you actually need
Unlike the traditional process, a digital loan application requires significantly fewer documents. Usually, three things are enough: a valid form of ID, a smartphone or computer with a camera, and access to your online banking. Instead of payslips or tax assessments, many providers use the so-called digital account review. They allow the lending system, once and automatically, to check the relevant account information such as salary deposits and regular outgoings. This step takes only a few minutes and replaces the laborious gathering and scanning of documents. A correctly prepared household budget is automatically verified as a result. This makes the process not only quicker, but also easier for you.
Security in focus: data protection and SCHUFA checks explained
The transmission of sensitive financial data requires the highest security standards. Reputable providers use SSL encryption for data transfer, which protects your information. The digital account view is also a secure process, carried out by licensed providers and based on the principle of data minimisation. Only the data necessary for the credit decision are analysed for a maximum period of 90 seconds. During the SCHUFA check, a “credit conditions enquiry” is made in the first step. This conditions enquiry is SCHUFA-neutral and has no impact on your score. Only when a binding loan agreement is concluded is a report made to SCHUFA. A loan comparison with a seal can create additional trust.
Practical example: How a digital enquiry works in practice
Imagine your washing machine suddenly breaks down and a repair bill of €800 is due. You decide to make a digital loan application to cover the costs quickly. On Monday morning at nine o'clock, you complete the online form in around ten minutes. At 09:15, you carry out the video identification, which takes only five minutes. Immediately afterwards, you receive the contract by email and sign it digitally with a TAN, which you receive on your mobile phone. Thanks to the instant approval and the fast processes, the money is already in your account by Tuesday morning. A fast loan for unexpected bills can therefore be available within 24 hours.
Selecting the right provider for your online loan
Choosing the right partner is crucial for a positive experience. Look not only at a low interest rate, but also at transparent and fair terms. A reputable provider is characterised by several features. Our experts recommend paying attention to the following four points:
Transparent costs: The effective annual rate should include all costs, with no hidden fees.
Flexible repayment: Free special repayments or the option to take payment breaks provide financial flexibility.
Clear data protection policies: The provider should explain transparently how your data is processed and protected.
Positive customer reviews: Independent testimonials provide insight into the provider's service quality.
A digital instant loan should always meet these criteria. At nextsure, we are committed to supporting you in selecting verified financial solutions. Request your personalised risk analysis now: Have your insurance situation reviewed free of charge and receive specific optimisation recommendations.
More useful links
Statista offers a comprehensive topic page on credit and debt.
Bundesbank provides detailed information on the credit data statistics AnaCredit.
marktforschung.de offers an article on the effects of digital platforms on consumer borrowing and purchasing behaviour.
Bundesbank publishes a press release on the results of the survey on lending business (Bank Lending Survey) in Germany.
Mordor Intelligence offers an industry report on the digital lending market.
SCHUFA provides information in an article on the 'Buy Now, Pay Later' boom and Credit Compass 2024.
Bank-Verlag offers an article on the topic of loans.
Tink explains creditworthiness checks with digital account check in a blog article.
Verbraucherzentrale provides information on the PostIdent procedure and alternative identification procedures.
FAQ
What is the advantage of a digital credit enquiry?
The biggest advantage is the speed. The entire process is often completed in less than 24 hours. It is also convenient to complete from home and, thanks to digital procedures such as account view and video identification, requires significantly less effort and no paper documents.
What does “digital account view” mean?
The digital account view is a process in which you allow the credit provider to analyse your account transactions once and automatically. This removes the need to submit payslips and bank statements manually, and significantly speeds up the credit check.
Does every credit application affect my SCHUFA score?
No. If you compare different offers, providers make a „credit terms enquiry“. This is SCHUFA-neutral and not visible to other banks. Only when you conclusively enter into a credit agreement is a „credit enquiry“ marker recorded, which can influence the score.
Can I also repay a digital loan early?
Yes, with most digital instalment loans, free unscheduled repayments or even full early repayment are possible at any time. Look out for this option in the contractual terms, as it gives you greater flexibility.
What requirements do I need to fulfil for an online loan?
The basic requirements are generally being of legal age, a place of residence and a bank account in Germany, as well as a regular income. In addition, sufficient creditworthiness is required, which is checked by a SCHUFA check and often by digital account access.
Is the video identification process complicated?
No, the process is very simple and user-friendly. An employee of a certified provider will guide you through the entire process via video chat, which usually only takes a few minutes. All you need to do is hold your ID up to the camera and answer a few questions.
