How long it takes to get a quick loan
What is really the period in which you can have the cash after starting to apply for an urgent loan?
Are certain ads that ensure that the loan can be obtained in a matter of minutes? The answer to this last question is brief and concise: yes.
Quick loans, money in a matter of minutes
But analyzing in depth the period of time involved in a quick loan, the approximate breakdown of the application process of an express loan would be the following:
- First phase: enter the data of the application. During the first phase of the application for a quick credit you must specify the amount of money that is needed, the period of time in which you want to return the money and fill in the personal data. This process does not usually take more than 10-15 minutes.
- Second phase: receive the approval or denial of the loan. The second phase is the most important of all, since it is the one that decides whether the user is valid or not to receive the borrowed money he has requested. The time frame of this phase depends on the lender agent that is used, although the most usual is to obtain an almost automatic response in a matter of minutes.
- Third phase: receive the money in the account. In the event that the loan application has been approved, the next phase consists in waiting to receive the cash in the bank account. This phase depends a lot on the bank to which the user’s account corresponds. Even so, the income is usually made in less than 24 hours after the approval of the urgent credit.
As you can see, requesting an urgent loan is something that requires a few minutes. And if that were not enough, the money is paid almost immediately once the credit approval is obtained.