Digital loan request: Get your money hassle-free in 5 steps
11 Jun 2025
3
Minutes
Katrin Straub
CEO at nextsure
Do you quickly need financial resources but dread the cumbersome process with countless documents and long waiting times? A digital loan application can often be processed completely online in less than 24 hours. Find out how you can obtain your loan quickly and securely without bothersome paperwork.
The topic in brief and concise terms
A digital credit application can reduce the entire process from application to payout to under 24 hours.
Key technologies like video identification and the qualified electronic signature (QES) make the process completely paperless and legally valid.
Thanks to digital account viewing, salary statements are often no longer necessary, which significantly simplifies the application process.
Accelerated process: From request to payout in under 24 hours
While traditional loan applications can take five to ten working days to process, a digital loan request is often completed by the next day. Many providers advertise with payout within 24 hours if all steps are completed digitally. This speed advantage of over 80 percent is made possible by automated processes and the elimination of postal delays. The entire process from data entry to contract signing takes place online. The immediate credit decision that many digital platforms offer gives you an initial response to your request within minutes. Thus, weeks of waiting become a matter of hours.
Key technologies that eliminate paperwork
Two technologies are crucial for quickly executing a digital credit application without paperwork: the video identification process and the Qualified Electronic Signature (QES). The video identification replaces a trip to the post office and often takes only five to ten minutes. During this process, your identity is verified via video chat with a valid identity document by a certified provider. The QES is legally equivalent to a handwritten signature and allows for a legally binding contract conclusion on the screen. This combination meets all legal requirements and makes the process 100 percent digital. A secure online identification process is the basis for a quick completion.
The digital process typically runs through these five steps:
Calculate the credit online and fill out the application form.
Conduct a digital credit check (often through account insight).
Verify identity via video identification in a few minutes.
Sign the credit contract digitally with a QES confirmed by SMS-TAN.
Receive the payout often as soon as the next working day.
Reduced Requirements: Which Documents You Really Need
In contrast to the traditional process, the digital loan application requires significantly fewer documents. Usually, three things are enough: a valid identity document, a smartphone or computer with a camera, and access to your online banking. Instead of income proofs or tax assessments, many providers use the so-called digital account analysis. This allows the credit system to automatically check relevant account information such as salary deposits and regular expenses once. This step takes only a few minutes and replaces the tedious task of collecting and scanning documents. A correctly created household budget is automatically verified. This way, the process becomes not only faster but also easier for you.
Security in Focus: Data Protection and SCHUFA Query Explained
The transmission of sensitive financial data requires the highest security standards. Reputable providers use SSL encryption for data transmission, which protects your information. The digital account check is also a secure method carried out by licensed service providers and adheres to the principle of data minimization. Only the data necessary for the credit decision is analyzed for a maximum of 90 seconds. In the SCHUFA check, a 'Credit Conditions Inquiry' is made as the first step. This conditions inquiry is SCHUFA-neutral and has no impact on your score. A report to SCHUFA only occurs when a binding credit agreement is concluded. A credit comparison with a seal of approval can additionally build trust.
Example in Practice: How a Digital Inquiry Specifically Works
Imagine your washing machine breaks down unexpectedly and a repair costing 800 euros is needed. You decide to apply for a digital loan to quickly cover the expenses. On Monday morning at nine o'clock, you complete the online form in about ten minutes. At 09:15, you carry out the video identification, which only takes five minutes. Immediately afterwards, you receive the contract by email and digitally sign it with a TAN that you receive on your phone. Thanks to the instant approval and fast processes, the money is already in your account by Tuesday morning. A quick loan for unforeseen bills can be available within 24 hours.
Choose the right provider for your online loan
Selecting the right partner is crucial for a positive experience. Pay attention not only to a low interest rate but also to transparent and fair terms. A reputable provider is characterised by several features. Our experts recommend keeping these four points in mind:
Transparent Costs: The effective annual interest rate should include all costs without hidden charges.
Flexible Repayment: Free extra repayments or the option of payment breaks offer financial flexibility.
Clear Data Protection Policies: The provider should clearly explain how your data will be processed and protected.
Positive Customer Reviews: Independent testimonials provide insight into the provider's quality of service.
A digital instant loan should always meet these criteria. At nextsure, we place importance on supporting you in selecting vetted financial solutions. Request an individual risk analysis now: Have your insurance situation checked for free and receive specific optimisation suggestions.
More useful links
Statista offers a comprehensive topic page on credit and debt.
Bundesbank provides detailed information about the credit data statistics AnaCredit.
marktforschung.de features an article on the impact 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 an article on the 'Buy Now, Pay Later' boom and the Credit Compass 2024.
Bank-Verlag offers an article on the topic of loans.
Tink explains credit checks with a digital account check in a blog article.
Verbraucherzentrale provides information on the post-identification procedure and alternative identification methods.
FAQ
What is the advantage of a digital credit inquiry?
The biggest advantage is the speed. The entire process is often completed in less than 24 hours. Additionally, it can be conveniently done from home and requires significantly less effort and no paper documents, thanks to digital procedures like account overview and video identification.
What does 'digital account overview' mean?
The digital account overview is a process in which you allow the lender to analyze your account transactions automatically and one-time. This eliminates the need to manually submit payslips and account statements, significantly speeding up the credit check.
Does every credit inquiry affect my SCHUFA score?
No. When you compare different offers, the providers make a 'credit terms inquiry'. This is SCHUFA-neutral and not visible to other banks. Only if you conclude a loan agreement bindingly will a 'credit inquiry' feature be recorded, which can affect the score.
Can I repay a digital loan early too?
Yes, with most digital installment loans, free special repayments or even a full early repayment are possible at any time. Look for this option in the contract terms, as it offers you more flexibility.
What requirements do I need to meet for an online loan?
The basic requirements usually include being of legal age, having a residence and a bank account in Germany, as well as a regular income. Additionally, sufficient creditworthiness is expected, which is checked through a SCHUFA query and often through a digital account view.
Is the video identification process complicated?
No, the process is very simple and user-friendly. An employee of a certified service provider will guide you through the entire process via video chat, which usually takes only a few minutes. You just need to hold your ID in front of the camera and answer a few questions.
