The small loan – The cash injection for financial bottlenecks
Who is not familiar with unexpected financial expenses in life?. Sometimes the washing machine is broken, then the child needs a complete set of equipment to start school, you want to give your parents an expensive gift for their golden wedding anniversary, etc. – All this costs quite a bit of money, which you don't always have at your disposal. In such cases you can help yourself well with a small loan. The application is quite straightforward and the term is manageable.
| Vendor | |||
| Min. Loan amount | 3.000 € | 4.000 € | 3.000€ |
| Max. Credit amount | 65.000 € | 50.000 € | 50.000 € |
| More | " More Details | " More details | " More details |
Small sums, big help
As the name suggests, a small loan involves manageable sums ranging from a few hundred to approx. 10.000 euros lent. This is an installment loan, where the amount of money is paid off in constant monthly amounts. Unlike a construction loan, which can have a term of up to 20 years, the term of a small loan is usually manageable, depending on the amount between 12 to 36 months are most common, but there are also variants with a term of up to 120 months.
The installments also include the interest at the same time, as well as the processing fee of 2 to 3.5% on average, so there is no other cost to the borrower.
Small loans are not earmarked, d.h. consumer does not have to give a reason what he needs the money for. Typical cases are z. B. A car purchase, electronic equipment purchase, new furniture, etc. A small loan is a consumer loan that is provided to the customer by the bank for free use.
How to apply for a small loan?
The higher the amount, the more difficult it is to get a loan approved. For a small loan, the chances are generally not so bad. The bank only lends for a short period of time and can expect full repayment soon enough. The business thus remains manageable.
Even if it is usually only relatively small amounts, you should not take out a small loan hastily. Also in the process, pay attention to current offers from different providers and compare the following information:
- how high the interest rate is
- Which terms are possible
- how much the monthly installments are
- What processing fees come with it
- What conditions the offer is tied to
- Whether collateral is required, and if so, what kind
- whether early repayment is possible
Even though the offers will probably not differ greatly from each other, you can still save money if you make the right choice and therefore make the effort to compare.
In Austria, basically anyone of legal age can take out such a loan. For many credit institutions, the presentation of a pay slip or a salary statement is sufficient proof that the loan can be repaid, d.h. the borrower receives a blank loan, but especially for higher sums, the provision of collateral is also required.
The financial injection from the Internet
In online banks, the application of small loans is particularly simple and straightforward. The decision on an approval or a rejection is made quickly, in a positive outcome, you get within a short time the money transferred. Online banks are also very popular for small loans because the interest rates and conditions are usually particularly favorable.
Generally, a small loan is not a big deal. It is quickly repaid and thus done, but can be a very big, indispensable help at the moment.