Cheap Loan – easy and fast
At Bank, you are in the right place if you are looking for a cheap loan that is tailored exactly to your needs. In just a few minutes, you can apply for Loan on the Bank platform and receive the online loan immediately within 24 hours. Bank connects borrowers and private investors, creating benefits for both sides.
- Cheap Loan between € 2,500 and € 25,000
- Free request on interest rates
- Loan is paid out immediately
Favorable interest rates – benefit from cheap Loan
Anyone who is currently looking for a cheap online loan, has chosen the right time for it. The current low-interest environment allows borrowers to borrow at extremely low rates and implement planned investments. At Bank, you also benefit from a fully automated and digitized Loan process, which makes it possible to offer you a cheap Loan.
Apply for a Cheap Loan – How It Works
You start the loan process with an anonymous and free condition request on www.Bank.com , enter your financial data and get informed immediately if and at what effective interest rate you get a cheap loan. If you like the offer, register in a few steps and then enter your personal information. After you have finished entering the data, your data still needs to be verified. It works quite simply and conveniently through our online banking interface. Simply log in with the access data of your online banking and your data will be digitally verified. Alternatively, we offer you the option of manually uploading your bank statements and salary statements via photo or PDF. Compared to manually uploading data, you save a lot of time by digitally analyzing your account. You do not have to collect documents and then scan them. With the fully automated process, if you digitally analyze your account, you will immediately get a commitment whether you will be offered a cheap loan from Bank. When you have received the commitment, it only takes a few minutes for the Loan agreement to be completed. For the legitimation and the contract signature our partner IDnow is responsible. By means of innovative eSign , legitimacy and signature are handled in one process step. What does that mean? This means that you do not have to print any contract documents, sign them and then take them to the post office, as is usual with the PostIdent procedure. Instead, you will be connected to IDnow via the camera via your web browser or smartphone or tablet. An employee of IDnow will legitimize you by means of your ID card and you finally confirm that you want to sign the Loan agreement. With the digital signature, you can complete the entire loan process in under 5 minutes. Upon completion of the contract, Bank will pay your cheap Loan to you within 24 hours.
You need that for a cheap loan
- PC, laptop, tablet or smartphone with internet access
- E-mail address where you will receive relevant documents
- German bank account
- Regular income
- Personal identification document and a minimum age of 18 years
Cheap Loan – what are the fees?
Bank works with transparent fees and no hidden costs. Of course, the application form for an online loan is completely free with Bank. Costs will only be incurred upon payment of the loan amount. At this time, Bank charges a small commission for arranging the loan. The amount of the commission depends on the Loanworthiness and duration of the loan and amounts to between 0.10% and 2.25% of the loan amount.
Save cash with a cheap loan
Comparing different loan offers can save you a lot of money. Often it is helpful not to accept the first offer you receive from your house bank. Providers such as Bank offer you a completely digitally processed Loan process from which you as a borrower can benefit. The following comparison of two Loan offers shows clear savings potential in the area of interest costs with a cheap loan from Bank.
|Bank Loan||Classic installment Loan|
|loan amount||8,500 €||8,500 €|
|Loan term||60 months||60 months|
|Eff. Annual interest or disbursements||2.89% *||6.00% **|
|interest costs||630.62 €||€ 1,322.08|
|saving||€ 691.46 or over 8% of the loan amount|
* Loan provided. Repr. Example: Eff. Annual interest 4.62%, b. Debit interest 3.70% pa, net loan amount 7.500 €, term 3 years, commission once 1.25% of the net loan amount.
** Exemplary loan comparison from the interest rate statistics of the Deutsche Bundesbank
Free eradication for more flexibility
- Loan is repayable at any time
- Free repayments on specified dates
- Prepayment Compensation in accordance with the provisions of § 502 BGB
If your financial situation changes during the term of your online loan and you decide to prematurely pay off the borrowed loan, Bank offers a special opportunity. At predetermined times, you can redeem your cheap Loan early without being charged. Of course, you do not have to wait until this time, but can repay the loan at any time for a small prepayment penalty according to §502 BGB. Further information about conditions and fees can be found in our price and service list .