As with all other banks in Germany, there is also the installment loan of the savings bank. However, this is not communicated to the bank as installment credit by the bank, but appears in various other terms. For example, there is the personal loan, the education loan or the car loan.
The installment credit generally
Generally the installment loan is the acceptance of a sum in order to be able to afford different things. You get the sum transferred to his account and then pay in a certain time and with a certain annual interest rate, the total in installments. For what one uses the money, one, after commitment of the credit, is left to itself. Even purchases in a commercial transaction on financing are nothing but installment loans for a tangible asset.
The installment loan of the bank and the way to get it
The installment loan of the bank can be calculated very well online. The bank has installed an application tool for this purpose. So you can calculate the credit with any amount. The data is then sent to the bank and the credit check gets started. First, however, you have to answer a few questions on the first page of the loan calculator. These are Mulitple Choice questions. The installment loan of bank always runs through Astro. For this purpose, the question is asked at first whether the entered data of the loan applicant may be forwarded to Astro. Anyone who answers here with NO seriously jeopardizes the granting of the loan.
In addition, one must answer whether the data entered on the creditworthiness and financial situation may be passed on to the credit bureau and the bank may also receive information about the applicant at the credit bureau. Again, the answer should be yes, otherwise a loan is most likely not possible. Then you have to specify how you want to stay in contact with Astro. Either one opted for the telephone alternative or for the e-mail alternative or one selects both.
Lastly, you have to meet on the first page of the evaluation request 4 conditions to be able to calculate a loan at all: You have to live in Germany and of age, you have to earn more than 650 USD, you have to apply for the installment loan of the bank and not for a third party and you have to assure that you do not have a negative credit bureau entry. Only then does the actual loan application begin.
The installment loan of the bank and its conditions
The installment loan of the bank can be obtained with individual pricing. It all depends on how long the term is, how high the loan amount is and how good the creditor’s credit rating is. The minimum amount is 2,500 USD, the maximum 80,000 USD. The interest rate is a minimum of 4.99% and goes up to 13.99% with a one-time processing fee of 3%. An early repayment is possible at any time free of charge.