Easy and Fast Loans from Low Interest Banks

Easy Credits

Believe it or not, there are already very easy and fast loans from banks and, as you might think, these are quick loans with low interest rates .

Not only are these loans urgently and quickly approved, but they are also with online application and application.

Some of them only have an identity card, without proof of income from an employment contract, no guarantor, no collateral and approval in minutes.

On this page you will find fast-interest loans with a low interest rate – urgent cash loan for urgent needs.

1. WEB Credit from CCB

WEB Credit is a very interesting quick consumer loan offered by Central Cooperative Bank (CCB). It is for everyone who needs quick approval and emergency loans with low interest rates without a guarantor.

Credit approval is extremely fast – only up to 2 hours . The maximum amount you can get is up to 3000 leva.

However, to get this credit, you need an electronic signature. This electronic signature is obtained very quickly and easily from any CCB office.

Let us summarize the advantages of this quick loan from CCB:

  • Maximum loan amount: up to 3000 BGN
  • No guarantor and no income records.
  • Maximum repayment term: up to 2 years.
  • Beneficial interest rate compared to that of fast loan companies.

In addition to this fast credit, CCB offers another one called Credit Today, which is for much larger amounts – up to BGN 50000, but it is expressly approved.


2. BACB Express

2. BACB Express

This is also one of the easiest and most urgent quick loans from Bulgarian banks, offered by Bulgarian American Credit Bank. It is for amounts up to $ 3,000 with a response to minutes and very fast approval.

These are easy credits only against identity card and repayment term of 3 to 24 months. It is important to note that the bank runs weekdays until 22 pm and during holidays.

Absorbing money from this credit is very easy and fast – from any CashM ATM. Let us summarize the advantages of the loan:

  • Quick credit only against identity card
  • Answer in minutes.
  • from 150 to 3000 leva.
  • The bank runs weekdays until 22 pm and during holidays.

The repayment is in monthly installments. In addition to this fast credit, the bank also has one easy online application – Virtual Micro Credit.


3. Small Credit from UBB

3. Small Credit from UBB

If you are looking for a fast bank loan of up to BGN 1000 at low interest rates, UBB has something to offer. They offer a small credit for individuals from BGN 500 to BGN 1,000 with repayment term up to 12 months.

You decide whether to transfer your salary to the bank or not. In addition, retirees can benefit from this credit.

The main advantages of the loan are:

  • Very fast response and quick approval.
  • Fast loans with low interest rates.
  • Repayment of equal monthly installments.
  • Maximum amount: 1 000 BGN

In addition, you can participate in the Loan Protection Loan program as desired.

These easy and fast loans from a bank have another advantage – you can repay your monthly installment at an ATM.


4. Fast Money Credit from TBI Bank

This is a loan for those who are looking for quick loans from larger banks and for those who are looking for fast loans up to 10000 without a guarantor.

The approval is extremely fast – from 5 minutes to 1 hour. The repayment period is up to 36 months. You get cash without a guarantor and no collateral.

You can easily apply online, credit by phone or on-site at the bank office as best you can. Let’s summarize the benefits of this fast loan from a bank:

  • Maximum amount – up to 10000 leva .
  • No guarantor and no collateral.
  • Applying: online , by phone or in an office.
  • No unnecessary documents.
  • Approval – 5 minutes to 1 hour.


5. Credit Unsecured by Texim Bank

When it comes to withdrawing and lending quick loans from banks, Texim Bank is one of the most famous. It offers several quick and easy credits.

Here we will look at a loan without a trainer up to 7000 leva. Approval of this credit is only within 2 hours. There is no requirement to transfer your salary to a bank account.

You can apply by phone, online, or on-site at the bank – as best you can. The repayment is in equal monthly installments and the loan is for up to 7 years.

There is no charge for early repayment of the loan. Let us summarize the characteristics of this loan:

  • up to 7000 BGN
  • Approval up to 2 hours.
  • No guarantor and no transfer of salary.
  • You can apply online, by phone or on site.

Texim Bank also has another very fast credit – Express Credit at Easy Pei.


6. “Fast, Credit” by UniCredit Bulbank

Finally, but not least in our article on fast credit from banks we will point out this credit from UniCredit Bulbank. This is an express consumer loan only against an ID card and a response within 2 hours.

The interest is fixed for the entire term of the loan. Fast credit without a guarantor and no requirement to transfer your salary to a bank account.

The maximum loan amount is up to BGN 10000 and the repayment term is up to 72 months. Let’s summarize the benefits and features:

  • Amount of 500 to 10 000 BGN
  • Only with an ID card.
  • No guarantor and no collateral.
  • Fast approval – up to 2 hours.



Easy Online Loans: With Minimum Documentation

Easy Credits

Already in Bulgaria there are many fast and easy online loans with minimal documentation and with urgent and easy approval in minutes.

Easy credit is the one that is granted for a few minutes today and in most cases is not a guarantor, only with an ID card and no other documents.

On this page we have selected some of the most famous fast-paced loan companies that offer both urgent loan payments and larger loans in monthly installments when there is an urgent need for money.


Vivus is a company that offers some of the easiest online loans. In addition, every first loan is free of interest and no cost. You are returning the same amount.

The application process is very convenient and fast – all online. You get an answer if you are approved for up to 15 minutes .

All loans from Vivus are free of guarantee and with a minimum of documents. Besides, the company also works on Saturdays and Sundays for those who have an unmet need for quick money on a loan.



Creditisimo is the other leader in the fast and easy online credit market in Bulgaria. There’s no way you have not heard this company. She first introduced the service – credit to pay without interest. Creditisimo offers 2 products:

  • Loan up to $ 600 without interest if you return it to a specific grace period – up to 30 days. Moreover, every 5th credit to pay is also interest-free.
  • Loan in installments up to BGN 2500 , with repayment of equal monthly installments and up to 12 months.

Creditismo’s answer whether you are approved or not is too quick – just 7 minutes .



In recent years, Fermatoum has become a well-known company with its 24-hour credit. Not only Saturday and Sunday, but also 24 hours a day, 7 days a week, they offer fast credit with easy approval.

They also offer larger amounts: up to 3500 leva . The approval is one of the fastest for our country – up to 5 minutes , and the money can only get up to 10 minutes today.

The application is convenient and accessible, and you can apply for any device that has Internet access – mobile phone, PC, laptop, tablet, etc.


Micro Credit

Another company that offers fast and urgent loans for larger amounts – up to BGN 3300. In fact, Micro Credit has several interesting and innovative credit offers:

  • CrediNet – easy online credit up to $ 3,000 without attending an office. Every first loan is free of interest. Approval only with ID and no guarantor.
  • CrediHome – Fast credit without proof of income and with minimal documentation. Maximum amount up to 3000 leva, no guarantor and only against ID card.
  • CrediGo – credit from 600 to 3300 leva for people with proven income. You also have a 30-day grace period. Fixed interest, repayment equal monthly installments, no guarantor and no collateral.

You get the money in cash or in your bank account – as best you can.

Net Credit

Net Credit offer money in no time. Quick, easy and convenient and with minimal documentation. You also have the opportunity to receive the money today . The company has 2 types of products:

  • Loan up to $ 500 – fast credit to pay without a guarantor and no interest on every first loan.
  • Contributed credit – up to BGN 1500 and a repayment term of up to 12 months.

The application process is very handy – all online. And the approval and release of the money is for a few minutes, entirely online.

Fast and easy loans in Sofia, Varna, Plovdiv, Burgas and all other settlements in Bulgaria.

Cash Loan

Cash Loans also have interesting offers for quick loans with urgent and easy approval – just 6 minutes . They are one of the most popular micro-lending companies in Bulgaria with a simplified procedure and a minimum of documents.

Besides 100% online credits, they also offer loans in Lafka. The maximum loan amount is up to 2000 leva . You get quick money on a loan only against an ID card .

Cash Loan also offers refinancing of fast loans.

Cash Loan also offers refinancing of fast loans.

Stick Credit

Compared to other companies, Stick Credit is recently on the market. They offer fast and easy credits with extremely fast online application through their site. The application form is short and simple.

Besides online you can also apply by phone. The answer whether you are approved or not within minutes. They offer 2 types of products:

  • Credit up to 400 BGN – Everyone has no interest.
  • Credit up to 1500 leva . – repayment of monthly installments.

The company also works on Saturday until 5 o’clock.

Smile Credit


Smalli Credit have long been on the market and offer very easy online credits in minutes and only with 4 clicks. Their credits are unsecured and expressly approved – up to 20 minutes . Smile Credit have 2 types of products:

  • Loan up to 500 BGN without a guarantor.
  • Credit from 600 to 1500 BGN without guarantor.

The whole procedure is entirely online without wasting time, for urgent needs and financial difficulties. They also offer the possibility of refinancing fast loans.


Fast Loans | Credit Loan

Rousse – the fifth largest city in Bulgaria, also known as “Little Vienna” – offers opportunities for both young and older people looking for a new start in their lives. The city has a prestigious university, located in a strategic location – on the Danube River and on the border with Romania, and boasts a special beauty with which it has won the nickname. There is no dispute that Rousse attracts people, but nobody and nowhere is financially insured. After a brief look, we understand that the lowest house prices vary between 200 and 300 leva (at the expense of quality, of course). And the average salary in Ruse is not different from the average for other regions of the country. Accordingly, a young person there is very likely at least once to experience the need for additional and quick income. The benefit in these cases may be the drawing of quick credits in Rousse against an ID card.

Fast loans in Rousse


The ways to get that extra and quick income are counted on your fingers. When we exclude family, friends and banks, we can get up to two. Let’s look at the first – fast loan companies in Rousse. There are many companies in the city that offer the service and most of them operate across the country. It’s not hard to find their placement, just because the choice is really great. You have certainly heard about most of them on TV and radio, but there are some that will be new to you. What is slightly disturbing is the bad reviews we can see when searching for the Google service. Suppose you ignore them and choose one of the most famous and probably trustworthy companies.

Credit only with ID card


The maximum amounts for a first loan from such a company vary, but suppose you need a relatively small amount. Most proposals will be up to 400-500 leva, of course, the variations will be small. And, as you can see from the title of the paragraph, you can apply for fast credit in Rousse for an ID card without needing any other paperwork. This is a much more convenient solution than the endless additions to bank loan documents. Here you present an ID card and nothing more. Other documents are not needed at all, everything is done without documents! The only document you need is the one you already carry with you.

The answer also comes relatively quickly and varies from 5 minutes to an hour. You can easily find information about each company’s conditions by opening your browser and searching for Google companies . You’ll find everything you need – from the credit ceiling, response time, and specific requirements.

Interest and charges

Interest and charges


Do not miss the interest rate when making the contract because it may be too big for you. The other important point to consider is credit fees. In addition to interest rates, be aware of the extra fees you will pay to get a loan, if any, of course. But on average – if you take a 300 BGN quick credit, you will refund about 390 leva to the creditor.

Be careful not to overdue your payment, because then you may be charged with punitive interest rates that will cause your concerns, although many companies have certain grace periods. But the fact remains – if you overpay the credit, you probably will not go away without any detriment.

Very well read about the conditions of each of the fast loan companies in Rousse for identity card and in general for Bulgaria. Look for reviews and opinions. Look at how well the company is geared to meeting the needs of its customers.

Online fast credit in Rousse for ID card


As we said at the beginning, there are more opportunities for fast financing and your urgent financial needs . This is the withdrawal of online fast loans in Rousse. In short, you do not need more than an identity card – or rather the basic data from her. All application is online, which resolves the inconvenience of going to the office and waiting in queues, if any. You will fill in several data fields and select the amount and time to return. Upon approval, your money will arrive after 15 minutes, no more. And you will not even get out of the couch at home . You do not even need to be in Rousse at this moment.

No interest and fees

No interest and fees


The main worrying moments are always about interest rates and possible hidden charges. Frequently, however, fast-paced companies have no interest and fees at all. Yes, you have rightly understood. Let’s say you download 300 leva for the Rousse rent of the apartment, which has been bothering you for a few days. Or, the electricity bill after December was bigger than you expected. Click to $ 350 on the site, and if you’re approved, in 30 days you’ll need to refund exactly $ 300. Let me specify, however, that this condition usually applies only to the first loan of the respective company. That is, if you withdraw again from the same company, the loan will now come with a certain interest rate. But it is possible that the amount of the loan will also increase as you will already have the confidence of this firm for fast loans in Rousse.

Fast Loans in Ruse in Bad Credit Story?

Fast Loans in Ruse in Bad Credit Story?


If you are wondering if you can borrow fast loans in Ruse, if you have a bad CCR – it can not be said for sure. Some companies lend in such situations, but many would not do so. You can certainly apply and receive a response to your request. You do not have to explain the reasons for the withdrawal, the rent you pay, how much time you work, what salary you get, and so on. You need to provide the basic information about yourself in the application form and then wait for the answer.

Receiving fast credit in Rousse against Little Eva ID card

Receiving fast credit in Rousse against Little Eva ID card

Rousse can pose many financial challenges. Fortunately, even in heavier situations, we have the opportunity to take advantage of fast credit without filling in a lot of documents.

The companies that offer such a service are many, and we, from Little Eva, also provide this opportunity to our clients. The procedure for drawing fast loans in Rousse by Little Eva is entirely online. So even if you are not in Ruse, you can also take advantage of money borrowed from us. You need only your personal card details and a few minutes to complete your application. The first loan is with 0% interest and 0 levs. It can be for an amount of 50 to 400 leva, and the term could be 5 to 30 days. This means that if you apply for a first loan of 400 BGN for 30 days, then within 30 days you need to refund exactly 400 BGN. You submit your request to our site and within 15 minutes you get a response from us. If you are approved, after another 15 minutes you can spend your money for what you needed.


Fast loans

If you live in Plovdiv or in the surrounding area, you will find it helpful to find out what are the requirements for drawing fast loans that creditors in the area have. Before you download a loan, you need to be aware of what the lender you choose, under what conditions you can withdraw money from it and how reliable it is. This will save you a bunch of future problems. The list of fast-paced companies in Plovdiv is huge, but here we will focus on the basic things you need to know before withdrawing credit from them.

What are the requirements for most fast loan companies in Plovdiv?

What are the requirements for most fast loan companies in Plovdiv?


Reliable creditors who are sufficiently popular in Bulgaria and have already been operating on the Bulgarian credit market have the following requirements:

  • Age maturity
  • ID card
  • Net credit file
  • Some of them require proof of income
  • Some also require collateral

The maximum amount normally granted for fast-paced loans in Plovdiv, and not only in general, ranges from 500 to 3000 leva for different creditors. This amount is ideal for meeting an urgent need until the time you receive income, and you can repayments. It is intended for people who want to help, and there is no way to find quick money at the moment.

How can you download the credit and how to repay it?


Most creditors have well-developed web sites that offer an online loan application system. Their web sites are user-friendly and made in such a way that everyone can quickly and easily navigate them. Almost all such creditors have an online calculator that allows you to calculate in advance the credit installments and the due total. There are also a few companies that offer their regular customers promotions and discounts in interest rates as well as interest-free loans under certain conditions.

The repayment of withdrawn fast loans in Plovdiv and in principle is made in one installment or in monthly installments, which you can pay by credit or debit card via bank transfer via EasyPay, ePay.bg, PayPal or Cashier. Most online lenders provide different ways to pay for them to make it easier for their clients.

What fast loans are provided in Plovdiv?

The most common types of fast credit in Plovdiv and in Bulgaria as a whole, which are provided online, are non-interest-bearing credit, installment credit and wage credit. Returning customers are often offered a loyal program through which they have the right to withdraw loans on more favorable terms and which greatly ease the payment of interest. Or they get some preferential terms.

How long after the application, do you get a response to the request?


With different creditors, this time varies from 6 to 30 minutes, but in any case you get the money almost immediately if you are approved. This is one of the advantages that make this kind of credit preferable to bank loans, which you sometimes have to wait for weeks and go through a bunch of checks.

All that is required when applying for an online loan is to provide your ID card details. Some creditors may also require a document confirming your earnings. The creditor receives your credit application, makes a quick study of your credit history, and if you have a pure credit record , he may think you are trustworthy enough to give you the loan. Within minutes, you get a confirmation by phone, and then the money you need is already transferred to your account. That is, if you need fast loans in Plovdiv, you can find them for a negative short time.

Are there creditors in Plovdiv, from which you can get credit even if you do not have regular income?


Due to the great competition in the fast-paced market in Plovdiv and everywhere in Bulgaria, such firms actually exist. They are known to lend even to people with poor credit ratings, with no regular income and no alternative sources of income. You understand, however, that by doing so, they take a greater risk of the money being denied or delayed. They usually offset this risk with higher interest rates they take. So if you decide to take advantage of the services of companies that have virtually no conditions to give you credit, be prepared to pay more money later.

Some application options

There are creditors who grant fast loans in Plovdiv, who have the following approach to the client: the company sends you credit consultants who get acquainted with you and the situation in your home, on the basis of which they decide whether to approve you for a loan. If you are approved, you receive the cash in cash from the consultant. Unlike most other creditors who want proof of permanent income, you will only need an ID card to identify and access your home. Debt repayments will also be handed over to the same credit counselors who will come to your home to collect them. This method of action bothers most users, so they do not enjoy great popularity.

With online application you do not commit to the time to meet with such a consultant. You go to the creditor’s website, browse and if everything looks right – you are applying. Usually the answer arrives very soon afterwards.

Can you get credit if you have a bad credit history?

Can you get credit if you have a bad credit history?


Luckily, people who have failed to repay their loans in the past can get a chance from some lenders in Plovdiv to get credit again. By taking advantage of this chance and returning all the contributions in time, they have the opportunity to improve their credit rating and thus eventually get more favorable terms for loans in the future. You understand that the more unreliable the borrower is, the more risk the borrower takes. This is the reason why individuals should be examined individually before they are given credit. Checking is done by consultants who assess their sources of income, and even if a bad CCR could allow them to withdraw credit.

Still – be sensible! Taking quick loans in Plovdiv and elsewhere is not intended to satisfy temporary whims but to meet really urgent needs.

Is it possible to draw fast loans in Plovdiv from Little Eva?


It is possible to! Taking quick loans in Plovdiv from Little Eva takes only a few minutes. You come to our site and after a few easy steps you can have the necessary funds. Besides, the first loan is with 0% interest and 0 levs. You can choose a time limit to return it from 5 to 30 days. The money you can get in this first application is from 50 to 400 leva. This example means that if you run a first loan request of 400 leva in 30 days, it returns exactly 400 leva within these 30 days.


Small loan comparison at top conditions

Important to small loan

  • Limited loan amount
    As the name suggests, small loans are small loans. Loan amounts of a maximum of 10,000 euros are still considered small loans.
  • Often, collateral is not a must
    As the loan amounts are lower, collateral is not always a mandatory requirement. However, additional collateral often favors interest rates – so it is still advisable to specify them.
  • Select earmarking
    If you have planned a specific purpose for your loan, you should check whether it falls under one of the common uses: You should finance the used car purchase, for example, with a car loan, since the terms are cheaper than without earmarking.

A good part of the business of private banks is the issue of loans. Especially with private customers so-called small loans account for the lion’s share of the business with around 70 percent. But what exactly is a small loan and for what purposes can you use it? And are small loans in essential characteristics, such as interest rates or credit checks, different from regular loans?

Find the right small loan

The term small loan means a loan in which the loan amount paid out does not exceed a certain amount. Where the limit is exactly, however, is not set uniformly, but usually speaking at a payout of 1,000 to 10,000 euros from a small loan. Loans over 10,000 euros are generally no longer included. A credit comparison can help find the right loan.

Since the small loan is a installment loan, here are the following savings tips to reduce costs, as with a higher credit:

  • Specify second borrower
    In your loan application, specify several borrowers who live with you in a household and have their own income. This will provide you with more collateral and can often lower interest rates.
  • Select short term
    If your monthly budget allows, you should prefer shorter terms. Although this increases the monthly rate, it generally reduces the period in which you have to pay interest. Especially with small loans, the fast deferral may be possible.
  • compare offers
    You should definitely compare several offers; For example, you could find lower interest rates for direct banks than for store offers. For example, use our credit comparison.
  • To arrange special repayments
    Due to the low loan amounts not a must, but very pleasant in case you should have some money left to repay: special repayments.

When it comes to assessing creditworthiness, however, it is no easier for a micro-loan than for a loan with a higher loan amount. Here, too, the bank will require detailed information on your income and your monthly expenses, and a query of the Private credit data is common in a small loan.

The reason for this is quite simple: The bank wants to make sure that the borrower does not financially “lift” the loan and then can not pay the installment. In the worst case, it comes to the bank then namely to a total failure, which understandably want to prevent them as possible. For this reason, in most cases a small loan for the unemployed and other people without regular income is excluded.

However, if a regular income is available and this is sufficient in the opinion of the bank to shoulder the monthly installment, the microcredit is in principle open to anyone, including pensioners, the self-employed and even entrepreneurs. In general, however, the principle also applies to small loans: the worse the credit rating, the higher the interest rate and thus the monthly installments.

Small loan without Private credit

As with other forms of credit, there are also offers for small loans that do without a Private credit query. As a rule, such loans are provided by foreign banks, for which Private credit plays only a minor role. However, this does not mean that the banks do without a credit check – again, you must provide information on your income and current expenses.

In addition, you almost always buy the waiver of the Private credit query with a significantly higher interest rate, so that a small loan without Private credit is only a sensible option, if there is no other way to take out a loan.

Special caution is required for loans in foreign currencies, because not only do you pay a higher interest rate than with a regular loan in Germany, there is also a currency risk. The unfavorable development of the exchange rate can make the loan even more expensive in this case.

Top interest rates in small loan comparison

As with all other loans, you should also carry out a comparison of offers for small loans. The loan calculator from Gandalf can you here be a valuable decision-making tool, because here you just need the key data – Enter and get a comprehensive overview of the offers of the banks – loan amount and term. So you can compare in peace and choose the cheapest loan offer for you.

Step by step to small loan

If you have found a suitable offer for a microcredit, it is up to the application. The process and the required documents do not differ significantly between online application and application in the store.

  1. revenue and expenditure account
    If you have determined the loan amount and offers, you should also create a household bill. With this you calculate the maximum monthly rates for you. So you can restrict the range of offers even further.
  2. application
    As soon as you have the right offer, the application must be completed. Which details you have to give or which documents have to be submitted varies slightly from one bank to another. As a rule, banks demand:
    • Current pay slips (last three months) or profit and loss account for self-employed
    • Proof of further income or credit obligations
    • Duration of employment
    • Information on current costs and expenses
    • marital status
  3. Document review and postident
    Once your application has been reviewed and your specific interest amount has been determined, you will receive the contract documents from the bank. You must send them back signed. In order to verify your identity, the Postident procedure is additionally necessary.
  4. loan disbursement
    The last step is the payment of the loan. The payment is usually made within the next three to four business days.

Small loan as instant loan

In principle, you can apply for a microcredit as an instant loan. This means that you will receive a confirmation or refusal directly after application. In most cases, however, this commitment is only made without obligation and subject to review of your submitted documents. If this results in the fact that the bank does not see you with sufficient creditworthiness, it can withdraw the commitment again.

Since this review usually takes at least one day, a small loan is usually not paid immediately, ie the same day. In rare cases, however, a payment on the same day is possible under optimal conditions.

Uses for this type of loan

Since small credit is a simple consumer loan, it is usually lent by the banks without earmarking – so the loan amount is at your disposal as a borrower. However, if you want to use the money for certain purposes, such as buying a car or new furniture for your condominium, specifying a purpose may be useful. The bank can reward this information with a slightly lower interest rate. Although it does not have higher security due to the earmarking, it usually rates the risk of default as somewhat lower. Whether it makes sense for you to specify a purpose or not, you should discuss in individual cases with the bank directly.

If you want to use a small loan to buy consumer goods, such as a computer or a washing machine, it often makes sense to include the dealer’s financing offers in the credit comparison. Especially with electronic devices, so-called zero-percent financing is offered by large trading companies, where you pay the regular purchase price in installments over a certain period of time without interest. Of course, no bank can compete with such an offer.

Particularly often, the small loan is used for rescheduling. This means that an existing loan is repaid by the loan amount of the new loan, so that only payments for the new loan are due. This is particularly interesting when interest rates have fallen significantly since the original loan was taken out. In that case, the lower interest payments on the new loan will more than offset the prepayment penalty, effectively saving you interest.

Use as a supplementary loan

Small loans can also be used as a supplementary loan. It is therefore added to a larger loan, such as a renovation loan, a small loan to cover additional costs, for example, for the material.

Whether such a variant makes sense depends ultimately only on the interest costs. If these are lower for the small loan than for a corresponding increase in the loan amount of the main loan, the inclusion of a small loan is recommended, otherwise not. Only if the use of the main credit for the additional costs is excluded by an earmarking, the small loan as a supplementary loan is always in question. An example of this would be a real estate loan, where the ancillary acquisition costs, such as notary and brokerage costs, are often excluded as intended use.

Alternative: Credit by private

Small loans do not always have to be requested from a bank – now there is also the possibility to conclude loan agreements with other individuals over the Internet. This is usually done through brokerage platforms that work with a bank. For legal reasons, a universal bank must be interposed in Germany for this type of loan, which handles the processing of the loan. Some banks also provide direct private loans between their clients. Normally, standardized contract forms are also used here, since in Germany, however, contractual freedom generally applies, so you should read the contract terms very carefully.

Another peculiarity of private loans is that they are often provided by multiple lenders. But since the loans are processed through the universal bank, this has no further consequences for you as a borrower. However, with such a personal loan, it can take a little longer for you to receive the money, as there will only have to be enough financial backers willing to grant you a loan.

In the credit check it depends very much on which platform the lending is handled, but it is usually less strict than the banks. Accordingly, the interest rates for a private loan usually also higher – especially since the placement platform also requires a commission. For this reason, the credit on a private basis is particularly useful when banks are unable to lend money – for example to self-employed individuals, who often find it difficult to obtain credit from a bank because of their often irregular income.