Loan amounts between 1,000 and 34,000 dollars

Loan amounts between 1,000 and 34,000 dollars

Good Credit Bank is one of the largest banks in the UK. In Germany, it is best known for its credit cards, but the bank also issues installment loans. The biggest advantage of the foreign lender, who has also been active in Germany for 20 years:

The Good Credit loan can be taken out not only by employed persons but also by the self-employed and freelancers. Small loans are possible from a loan amount of 1,000 dollars, which makes the installment loan particularly attractive to people who want to bridge short-term payment difficulties.

Loan amounts between 1,000 and 34,000 dollars

Loan amounts between 1,000 and 34,000 dollars

It is particularly difficult for freelancers and the self-employed to obtain installment loans from banks and savings banks on favorable terms. For customers without a regular income and without collateral in the form of savings or real assets, banks are reluctant to take the risk of granting a loan.

The Good Credit loan is, therefore, a cheap alternative for this target group; The installment loan is also granted to employees and civil servants. The borrowers only have to provide proof of income, for example in the form of a salary certificate.

The current income tax notice is sufficient for the self-employed. Loans of between 1,000 and 35,000 dollars can be taken out for a term of 12 to 84 months. Processing fees are not charged, additional residual debt insurance can be taken out.

Flexible special repayments are possible

Flexible special repayments are possible

The Good Credit loan is a very flexible loan offer: special repayments are possible at any time without having to pay fees. If borrowers have a slightly higher budget available in a month, they can cover a larger amount of the loan by making an additional transfer; the monthly rate or, if desired, the loan term is then reduced.

An increase in the loan amount is also possible after a minimum term of six months. Good Credit Bank also promises that borrowers can return their loan within eight weeks of entering into the contract if they receive a cheaper offer from another lender.

Individual security packages

Individual security packages

The Good Credit loan advertises with an effective annual interest rate of 2.9 percent; As with any installment loan, the interest rate depends on the chosen term and the customer’s credit rating. Borrowers with lower incomes must, therefore, expect higher interest rates, which can even be around 12 percent if their creditworthiness is poor. The bank’s online loan calculator provides an initial overview of the amounts and interest rates for the Good Credit loan, from which the individual offer may vary slightly.

For self-employed as well as for employees and civil servants, specially coordinated residual debt insurance, so-called security packages, are offered, which can be taken out optionally. This residual debt insurance covers the payments of the installments in the event of death, in the event of incapacity for work and for the self-employed in the case of a business cessation for economic reasons, for employees in the event of unemployment.

The security package is associated with additional costs, which are due to the first installment payment. The Good Credit loan is, therefore, an uncomplicated and flexible alternative, especially for self-employed and low-income workers who would not receive a loan or only very unfavorable conditions from their house bank.


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