Lite Bank is present as a private branch bank nationwide with well over three hundred branches. It is a subsidiary of the Spanish Lite Bank SA with its headquarters in the city of the same name in Calabria. Lite Bank’s online payday loan differs from the online banks’ online payday loans in several ways.
They have a single central administrative seat and no branch network. The customer must communicate online, which is one of several offers at Lite Bank. Here, the customer can alternatively visit a branch and possibly have the online application processed further on site.
About two weeks from submitting the application to payment
The loan can be applied for online on the Lite Bank website. This is as interesting as it is helpful for those who are unable to visit one of the branches. With the loan calculator, the applicant can determine all the essential details in advance with the loan amount, term and the monthly installment.
The application itself is divided into five areas
• Personal Information
• Employment details
• Revenue expenditure
• Loan application
• Bank details
The content and the creditworthiness check are carried out immediately after receipt of the application. If the credit rating is positive, the credit contract and documents for further processing are sent by post. Experience has shown that the application process takes several working days up to this point, and can also quickly take up to a week, including the weekend.
Now it is the turn of the loan seeker. He can speed up the application process by having all proof of income ready and carrying out the Postident procedure in the local branch of Deutsche Post AG as quickly as possible.
It takes one to three working days for these documents to be available at Lite Bank in Mönchengladbach. Including the subsequent loan processing through to online payment, the applicant must expect another one or two working days. The period of two weeks, from online application to online credit, is a very realistic time frame.
Lite Bank online payday loan with Credit Bureau
As a branch bank, Lite Bank is a Credit Bureau business partner. The Credit Bureau score is literally the measure of things for the credit check of the online application. Negative entries lead to a low score. This in turn means that the online payday loan is highly unlikely to be approved in this way.
Conversely, the loan disbursed is entered as information in the Credit Bureau database. Banks and savings banks that cooperate with Credit Bureau are committed to this mutual information. You want to avoid a possible credit default risk, which is reflected in a low Credit Bureau score.
Send documents in advance to Lite Bank by fax
From his point of view, the applicant can influence the procedure by copying the documents sent by post and sending them in advance to Lite Bank by fax. You can then continue working on the loan there, while the original documents are sent by post to Mönchengladbach. The time saved is manageable; in individual cases, however, it can be helpful every day on which the Lite Bank online credit is credited to the applicant’s checking account earlier.
However, there is not much that can be changed in terms of the general duration of well over one to two weeks.