Consumer credit: why and for whom?

Madame walks past a furniture store and admires a set of furniture. The problem: she does not have the funds to acquire it. What to do? She can use consumer credit.

Consumer credit: definition

Consumer credit: definition

Consumer credit is a loan contracted from a bank or a specialized financial institution. Its purpose is to allow the purchase of consumer goods. Does not fall within this framework the purchase or construction of real estate. There are two major groups of consumer credit. The first is unrestricted credit. Here the money is made available to the borrower without proof of use. He can spend it as he pleases.

The second group is restricted credit. From the outset, the funds are intended for a specific, well-defined use: purchase of living room furniture, new or second-hand car, for example. Three parties are involved in the transaction: the bank, the seller and the borrower. Without going into details, there are other versions of this type of credit: revolving, dedicated, free credit, etc.

The steps to follow to obtain a consumer credit

The steps to follow to obtain a consumer credit

Before talking about the procedures themselves, it is good to know who can benefit from a consumer loan.

Anyone aged 18 and over can claim consumer credit. The first condition is to be solvent. This means having a stable source of income, not being over-indebted. Special mention is made for students whose parents stand surety. The funds are intended to finance his studies and all his related expenses: housing, study costs. Some establishments even grant, under certain specific conditions, a personal loan to a job seeker to enable him to recover his financial situation.

The steps to follow : the first thing to do is, of course, to talk to your banker. This will explain in great detail all the details concerning the rights and obligations of the borrower. The goal is to allow him to make an informed decision. Then come the administrative procedures for the constitution of the loan file. Upstream, however, it is possible to compare the interest rates charged by banks and other credit institutions to choose the best offer. This can be done online. It is also possible to be granted a quick personal loan, within 48 hours, by choosing this option.

Mini credit starts with a loan amount of 500 dollars and through the immediate payment

Unscheduled car repair. High reimbursement of utilities. Dream vacation in summer. There are many situations in which a small injection of cash through a mini loan is the ideal solution for you. A small credit from Lender Bank starts with a loan amount of 500 USD and through the immediate payment within 24 hours, you can go through everyday life more relaxed – without worrying about your finances.

Free credit request With a net loan of $ 4,000 and a loan of 72 months, 2/3 of the new customers receive in advance. an eff. Interest rate pa of 7.9% or less (born debit rate 6.45% pa) Important: In your own interest, please do not make any further credit inquiries, as multiple inquiries (also from other providers) can lead to irritation and the blocking periods can be imposed by the banks in question.

Why Lender Bank for your mini loan?

Why Lender Bank for your mini loan?

Do you need a small loan? Lender Bank has been in the credit business since 2007 and knows what is important for borrowers who only need a small loan amount. Lender Bank has always supported people who do not get a loan from their house or other bank. So that it is fair and balanced and everyone has the chance of a certain loan amount, we personally check your loan application before lending.

Professional lenders focus on the pure product – the mini loan. Lender Bank does not mediate additional products such as insurance or credit cards, nor additional contracts that you do not need. We also do not charge any fees for the brokerage of small loans and have therefore been successful as a loan provider on the market for over 12 years.

Mini credit at Lender Bank

  • Loan contract drawn up by the professional on the situation
  • Free inquiry and processing with social responsibility
  • No additional contracts like family insurance, credit card etc.
  • Early repayment possible at any time
  • Real-time info SMS, and real-time customer area
  • Express payment by Postident online from Deutsche Post

How does the request for small loans with Lender Bank work?

How does the request for small loans with Lender Bank work?

You simply submit a free and non-binding loan application using the form and receive a personal offer from our financial experts for a personal loan within 20 minutes that suits you and your situation. If you accept the loan offer and sign the loan agreement after the immediate approval, an uncomplicated video identification process takes place digitally, so that you do not have to go to the post office. As soon as all data and your creditworthiness have been checked, you will receive your instant credit within 24 hours on the specified account.

Requirements for the small credit from Lender Bank

  • Borrower must be of legal age
  • Resident in Germany
  • Regular income

Instant credit in just a few clicks

Instant credit in just a few clicks

In order to make you a suitable offer for your loan amount, we need in the first step within the credit form in addition to personal data, such as name, date of birth and address, of course your desired amount of at least 500 USD and your desired rate of at least 20 USD. In the second step, you provide information about your living quarters, marital status and tax bracket. Before submitting the form, you must also provide information about your profession and your income. From all the information we have our personal offer for your mini credit from Lender Bank, which we will send you as soon as possible after sending your information by email.

How does the Lender Bank mini loan work?

How does the Lender Bank mini loan work?

Mini credits from Lender Bank refer to loan amounts between 500 USD and 5,000 USD. Accordingly, the loan term is not as long as for a larger personal loan that is paid off over several years. In addition, despite a short-term loan, the interest is not as high as that of an overdraft facility, which, depending on the current account, means that you can expect interest of almost 15%.

In contrast to this quick loan, Lender Bank charges a debit interest rate of 4.80% (depending on creditworthiness) and an effective annual interest rate of 4.91% on the mini loan. With a net loan of 4,000 USD and a term of 72 months, almost 70% of our new customers receive an effective interest rate of 7.9% per year – or cheaper (tied debit interest rate 6.45% pa) when they repay their loan.

To determine your personal interest rate based on the term and the amount of the loan, simply make a free request and we will send you your personal offer for a mini loan.

Is a mini loan possible despite Credit Bureau?

Is a mini loan possible despite Credit Bureau?

It is important to the lenders that you repay the loan on time through the monthly installments. As a professional credit broker for a Credit Bureau-free loan, we build on a monthly minimum income of USD 1,100.00 net – to keep out dubious credit inquiries. If we have all of your information on the credit form, you will receive a personal loan offer that meets your requirements.

What is a mini loan?

What is a mini loan?

A mini loan, also called instant loan or personal small loan, is a small consumer loan for private individuals, the amount of which is determined by the respective credit institution – but usually does not exceed USD 10,000. Because loans with loan amounts over 10,000 USD no longer count as mini loans. Traders, on the other hand, receive a so-called micro loan if they want to borrow a small amount. In contrast to larger loans, when applying for a mini loan, an easier credit check is carried out with regard to creditworthiness and income. The often missing indication of the purpose is also a sign of the consumer loan, which you can apply for in a few clicks conveniently and easily with Lender Bank.