Instant Loan Austria: Borrow Money Fast with Immediate Payout

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What Is an Instant Loan?

An instant loan is a personal loan with particularly fast processing and payout. Unlike a traditional bank loan, you often receive the money within 24-48 hours in your account – sometimes even the same day.

Instant Loan vs. Regular Loan: The Differences

Feature	Instant Loan	Regular Bank Loan
Processing Time	24-48 hours	5-14 business days
Application	100% online	Often with branch visit
Identification	Video-Ident or online banking	PostIdent or in person
Document Review	Digital, automated	Manual, thorough
Interest Rates	4.9% – 10.9% p.a.	4.5% – 9.9% p.a.

Who Is an Instant Loan Suitable For?

Typical Situations

• Unexpected repairs: Car, household appliances, heating
• Urgent purchases: Medical aids, replacement for broken devices
• Short-term financial gaps: Delayed salary, unexpected bills
• Time-critical purchases: Auctions, limited offers

When Is an Instant Loan Not Sensible?

• For planned purchases (a regular comparison pays off more here)
• If you already have other loans
• With uncertain income situation

Requirements for an Instant Loan

Basic Requirements

• Age: At least 18 years
• Residence: Main residence in Austria
• Account: Austrian bank account
• Income: Regular income (employed or self-employed)
• Credit: Sufficient creditworthiness (KSV check)

Required Documents

Document	Details	Employed	Self-Employed
ID	ID card or passport	✓	✓
Proof of Income	Pay slips (last 3 months)	✓	–
Tax Assessment	Income tax assessment	–	✓
Bank Statements	Last 3 months	✓	✓

Tip: Have all documents ready digitally (scan or photo). This speeds up the process considerably.

How Instant Loan Application Works

Step 1: Fill Out Online Application

Enter the following data:

• Desired loan amount
• Desired term
• Purpose
• Personal details
• Income details

Step 2: Identity Verification

Modern instant loans use fast identification methods:

• Video-Ident: Via webcam with an employee (approx. 5-10 minutes)
• Digital Signature: With mobile signature or ID Austria
• Online Banking Ident: Via your existing online banking

Step 3: Upload Documents

Upload the required documents:

• Pay slips or proof of income
• Bank statements
• If applicable, rental contract

Step 4: Automated Review

The provider checks:

• KSV creditworthiness
• Income situation
• Household budget

Step 5: Payout

If approved, the money is transferred:

• Express payout: Often within 24 hours
• Standard payout: 1-3 business days

Costs and Conditions Overview

Typical Conditions for Instant Loans

Loan Amount	Term	Interest Range (APR)	Example Payment
€3,000	24 months	5.5% – 9.9%	€132 – €138
€5,000	36 months	5.5% – 9.9%	€151 – €161
€10,000	48 months	5.5% – 9.9%	€233 – €252
€20,000	60 months	5.5% – 9.9%	€382 – €424

Use our Loan Calculator to calculate your individual payment.

Tips for Quick Approval

1. Prepare All Documents

Have all required documents digitally ready:

• ID (both sides, clearly readable)
• Pay slips (last 3 months)
• Bank statements (last 3 months)

2. Make Realistic Statements

Don't exaggerate income or expenses. False statements lead to rejection.

3. State Purpose

A specific purpose (car, renovation) can speed up approval and enable better conditions.

4. Check Credit

Request your free KSV self-disclosure in advance and correct any errors.

5. Only Submit One Application

Don't submit binding applications to multiple providers simultaneously – this can affect your KSV score.

Instant Loan: Pros and Cons

Advantages

• Fast availability: Money often within 24-48 hours
• Easy process: 100% online, no branch visit needed
• Transparent costs: Fixed payment, fixed term
• Flexibility: Often extra payments possible

Disadvantages

• Higher interest possible: You sometimes pay a bit more for speed
• Less advice: No personal contact person
• Standardized: Individual solutions more difficult

Alternatives to Instant Loans

Revolving Credit (Standby Credit)

• Credit line you can use as needed
• Interest only on used amount
• Flexible repayment
• Good for recurring short-term needs

Mini Loan

For very small amounts (€100-€1,500) and short terms (30 days to 6 months).

Overdraft

Overdraft facility on checking account – but usually with very high interest (10-15% p.a.).

Private Loan

Borrowing money from family or friends – cheap, but with risk for the relationship.

Frequently Asked Questions About Instant Loans

How Quickly Do I Get the Money?

With complete documents and positive review: within 24-48 hours. Express options sometimes allow same-day payout.

Can I Get an Instant Loan Despite Negative KSV?

With negative KSV entries, an instant loan is difficult. Alternatives:

• Guarantor
• Mini loan (smaller amounts)

Are There Hidden Costs?

With reputable providers, all costs are included in the effective annual rate. Watch for:

• Processing fees
• Account management fees
• Express surcharges

Can I Repay the Loan Early?

Yes, this is generally possible. Since 2010, the early repayment fee can be maximum 1% of the remaining balance (for remaining term over 1 year) or 0.5% (for remaining term under 1 year).

Is My KSV Score Affected by the Inquiry?

• Rate inquiry: No, not recorded
• Binding loan application: Yes, recorded

Comparison portals generally make rate inquiries that don't affect your score.

Conclusion: Using Instant Loans Wisely

An instant loan is ideal for urgent, short-term financing:

1. Compare despite time pressure – the differences can be significant
2. Look at the effective annual rate – not just the speed
3. Have all documents ready – this speeds up the process
4. Borrow only as much as necessary – and as little as possible

Related Articles:

• Loan Calculator Austria
• Loan Interest Rates Austria
• Loan Comparison Austria
• How to Get a Loan in Austria

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Disclaimer: Payout speed depends on the provider and completeness of your documents. For binding approvals, contact the respective lender.