The credit will be repaid in full within this period, and no interest will be charged. It takes place in constant monthly installments plus the agreed interest. Consumer loans: will they soon only be offered on creditworthy terms?

In the consumer credit industry, more and more credit institutions are making their credit conditions dependent on the borrower’s creditworthiness, ie borrowers with high creditworthiness pay less, those with low creditworthiness more.

Proof of creditworthiness is based on customer-specific characteristics, the so-called rating. Consumer advocates complain that the evaluation result for the consumer can generally neither be traced nor influenced, which also means that it is not clearly defined which customer properties may be used for evaluation functions at all.

Good Credit: Check consumer loans for 30 days free of charge

Good Credit: Check consumer loans for 30 days free of charge

From now on, consumer loans can be tested free of charge at Good Credit for 30 days. Anyone who has to repay their loan during this period will not receive any interest. In addition, customers can make a free unscheduled repayment of up to 50% once a year. Show H. of the loan amount. Good Credit has waived processing fees since the beginning of 2012: “Test a consumer loan for 30 days free of charge and pay no processing fee.

The interest rate for consumer loans depends on the creditworthiness

The interest rate for consumer loans depends on the creditworthiness

There is a loyalty bonus of 0.5 percentage points for Good Credit checking customers. The maximum amount of the loan is USD 50,000 and the loan term can be between six months and seven years. Consumer credit is available in all 1,200 Good Credit branches. Example calculation with an interest for customers with the best credit ratings: loan amount USD 6,000; 3-year terms: 3.95 percent annual percentage, with Good Credit loyalty bonus 3.45 percent (fixed debt financing rate 3.40 per year; monthly rate USD 175.53; total claim USD 6,319.08).

Example calculation with an interest that can be granted to two thirds of the clientele: loan amount USD 6,000; Term 3 years: 5.85 percentage points of the effective annual interest rate (fixed interest rate for borrowing capital 5.70 percentage points pa; monthly rate USD 181.71; total USD 6,541.56). Good Credit is one of the leading banks in Germany and Poland. In addition, it supports its worldwide customers as business partners in all countries.

With around 1,200 branches, Good Credit has one of the densest branch networks of all major German banks and together serves almost 15 million private customers and one million business and corporate customers. In 2012, it generated gross sales of almost USD 10 billion with around 56,000 employees.