The small loan is intended for the purchase of larger consumer goods such as furniture, technical equipment and cars. Even those who want to go on holiday with their money, are well advised with the microcredit. He is also excellently suited for saving on the high overdraft interest and disputed interest rates. Since the interest on a permanently overdrawn account is extremely high, you can shift the costs thanks to the small loan advantageous. The cheapest interest rates for small loans are 3.71 percent.
The small loan is called by the banks also instant loan, mini loan or microcredit.
Since the loan amount and the terms of the small loan are often lower than in the conventional installment loans and the banks earn less, they often take slightly more interest than the normal installment loans.
It is important that one considers before the conclusion of the contract, as the personal possibilities for the repayment are arranged and accordingly determines the installment amount and duration. Is good to know that in a short running time, although the monthly payments are higher repayment, but that the total cost to the bank to fall delicate. However, those who choose lower rates for a longer term must be able to cope with a higher interest rate . A comparison of the conditions of the various banks is also advisable.
The loan amount can be individually between 500 Euro and 7 5000 Euro. However, some banks set limits for small loans up to € 10,000 or others up to € 75,000. The repayment terms are between 12 and 84 months.
The conditions for a small loan consist of the following points:
- The borrower must have a permanent job.
- Age of majority is a prerequisite and the Schufa examination must be positive.
A comprehensive review of creditworthiness is rather uncommon for small loans. In the case of an online application, the contract is already available the next day and the security, advice and service are just as good as with a conventional loan application. In addition, you can easily compare the different offers of the banks, because you save thanks to the online search the ways to the branches.
The next steps are taken by post and the specified amount will be transferred to the account after a few days. The online application is free and without obligation. You can therefore shortly before the holiday necessary utensils such as sunglasses or a digicam purchase, with which you can capture in pictures the stay and online can order a holiday photo book from the holiday.
To manage a loan, for example, offers a call money account, since you have no difficulty with this type of account to withdraw larger amounts of money.