Small loans in the market


Who does not know it. You want to go on vacation, buy a new car, renovate new furniture or the apartment, but the money is not enough. Now you think about a loan. So-called small loans are offered for this. The amount is up to 4000 dollars or 5000 dollars. There are many ways to get a loan. Here would be the house bank, money lenders, friends, or there are many banks with good offers on the Internet. It is not easy to make the right choice here. The following article shows three banks. The conditions for the sum of 4000 dollars and a term of 48 months are described.

Small loans – how much amount you can obtain?

Small loans - how much amount you can obtain?

The Bank has an effective interest rate of 4.40 – 11.95% with a loan amount of USD 4000. The monthly rate is 90.88 USD. The interest rates given for a loan of USD 4,000 depend on the customer’s creditworthiness. However, there can be regional differences here. All three banks promise a free loan request. The request alone is not yet a conclusion. Also, no negative entry is made in the credit check when lending. As soon as the signed application has been received by the lender using the Post-Ident procedure, payment is made by bank transfer or less frequently as a cash payment.

Requirements for the granting of a loan

Requirements for the granting of a loan

There are a large number of requirements. These can vary widely between lenders. In general, the lender will first contact credit check to be able to classify the customer. If the customer has other loans, he will make the payments and much more. On the other hand, the lender starts a credit check. What is the income, what security can the customer offer or are there collection orders against him. Based on this data, the amount of the loan, interest and term such as 4000 dollar and 48 months term is determined. If you want to take advantage of an offer for the loan without credit check request, you have to expect higher interest rates. The next step is to find a suitable frame for the customer. Basically, short interest rates have low interest rates but high monthly rates and long term rates have a higher interest burden with low rates.

A suitable means is ideal for the customer without running the risk of bottlenecks. If all points have been resolved positively, the sum is usually transferred. From this point on, the borrower undertakes to make the monthly repayment. It is advantageous to take out credit insurance in the event that the customer loses his job or becomes insolvent due to other circumstances. In this case, the customer should immediately contact the bank to either take out the insurance or to suspend payment until the situation improves again. If available, the bank can also use the customer’s collateral, such as real assets, life insurance or building society contracts.

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