Online financing or financing from the bank

Opinions differ as to whether financing is handled online or traditionally at the local bank.

Many older people still prefer the classic version because talking to the client advisor is very important to them.

However, there are many reasons to prefer online funding.

Faster processing and lower costs
A major advantage with online financing is certainly the much faster processing time. Especially if you have to make a quick decision with an intended financing, you can benefit from a very short processing time and an immediate acceptance or rejection, for example, when applying for an instant loan.

A good example of where you need a fast turnaround time is car financing, for example. If you have spotted an interesting offer, you have to strike quickly before another prospect takes advantage of the offer. A fundamental reason for financing is of course the cost factor. Online financing is also more customer-friendly here.


Since these providers have no bank branches and therefore fewer employees, there are fewer staff costs and this has a positive effect on customers. In addition, the competition on the Internet is enormous, so there is always a tough price war between these providers. As a customer, you of course also benefit from lower costs.
Greater flexibility when applying for funding

Online financing can be carried out 24 hours a day, seven days a week. Online financing also scores here. This is a great advantage, especially for working people, because it is often difficult to organize a visit to the bank during the normal working week.

In addition, you can take a relaxed approach to financing at the weekend and analyze the offers in peace. The large comparison option is also very advantageous for online financing. Of course, you only get an offer from your own bank at your house bank;

You will hardly receive offers from other banks at possibly more favorable conditions there. With online financing, there are many portals that list the individual providers with the associated services. You can then study the various offers at your leisure and then decide on the best individual solution. If an online financing application has been approved by you, you can then simply print out the application from the Internet, attach it and then send it by post. In this regard, many providers also use the customer-friendly Postident process.