Today there are numerous banks that offer a cheap small loan. Small loans today differ in terms of interest, term and repayment, the purpose of use also plays a decisive role. A micro loan comparison can help identify the best provider. The loan comparison enables you to carry out a free and objective loan comparison using a loan calculator. Assuming a free use, a USD 7000 loan and a term of 48 months, three banks can currently differentiate themselves from the other providers on the market.
Best banks in comparison
If one assumes the specified key data of 7000 USDs, 48 months term and free use, the Fine Bank can assert itself as the best provider. After the renaming, the Fine Bank wants to convince with safe and powerful products. The Fine Bank’s 7000 USD loan impresses with a low interest rate of 4.29% -9.99%. The interest rate here depends on the creditworthiness. With a loan amount of 7,000 USD and a term of 48 months, the monthly installment is 158.71 USDs. 89% of all test reports confirm satisfaction. The acceptance rate is approximately 80%.
In addition to the Fine Bank, the offer from onlinekredit.de can convince. The 7,000 USD loan from onlinekredit.de can convince with a low interest rate of 4.35% -10.90% interest. This results in a monthly liquidity charge of USD 158.89. The acceptance rate at the provider for the 7000 USD loan, however, is only approx. 60%.
Banks offer a small loan
Cream Bank is recommended as the third provider. Cream Bank offers a small loan with 4.40% -11.95% interest. As a borrower, you have to go out with a 7000 USD loan at a monthly rate of 159.04 USD. The loan is approved immediately. The acceptance rate can be put at around 75%.
If you want to take out a small loan, you have to meet certain requirements. Proof of a permanent employment relationship is a prerequisite. A fixed income can significantly increase creditworthiness. When applying for a small loan, you have to provide information on income and, if necessary, also provide proof of the employment relationship. A permanent residence in Germany must also be mentioned as a prerequisite, as must the minimum age of 18 years. As a consumer, you must not have negative Credit Bureau. The General Loan Protection Agency is still involved in lending today.
The small loan can be used for many different investments. Small loans, for example, can be used to balance a checking account. Settling a checking account with a small loan is so interesting because the small loan is offered at significantly lower interest rates. The debt rescheduling from a short-term loan to a small loan can significantly reduce interest costs and save a lot of money. The small loan can also be used to finance a car. You can also use a small loan to finance a vacation, home furnishings, electrical appliances, etc.