The Instant Care bank installment loan offers consumers the opportunity to fulfill their dreams quickly. It is available for free use, ie the Instant Care bank loan is not earmarked. At the same time, it offers a relatively large amount of flexibility in terms of design.
Instant Care bank installment loan terms
The bank specifies relatively common ranges for the loan term and loan amount. Borrowers can choose freely within this specified range and thus put together their individual loan.
- With the loan amount, borrowers can choose an amount from 3,000 USD.
- The maximum loan amount is USD 50,000.
- The term can be between 24 and 84 months.
The customer influences the amount of the monthly repayment rate by specifying the loan amount and term himself. The longer the term is chosen for a certain loan amount, the lower the monthly rate. This flexibility allows borrowers to easily adjust the Instant Care bank loan repayment to their financial framework.
The Instant Care bank installment loan offers the borrower a high level of transparency and does not require asterisk texts and any additional conditions. Borrowers do not have to fear hidden costs and fees. In addition, borrowers do not have to take out residual debt insurance to be able to take advantage of the loan offer.
The interest rate depends on the credit rating of the Instant Care bank installment loan. This means that applicants with better credit ratings receive cheaper interest . In this respect (in the case of credit-dependent loan interest) it is necessary to obtain a personal offer. This is the only way to find out how high the loan interest will be in your own case.
The annual percentage rate for the Instant Care bank loan is currently at least 2.49% and a maximum of 4.99% . The loan interest is fixed over the entire term, so that the borrower enjoys a high degree of planning security and can plan ahead.
A great advantage of the Instant Care bank installment loan is that the loan can be repaid early without any additional fees . Other banks require prepayment penalties for special repayments and early repayments. With the Instant Care bank installment loan, borrowers also remain flexible with regard to repayment.
Instant Care bank installment loan at a glance:
- Loan amount between 3,000 to 50,000 USD
- Possible term from 24 to 84 months
- Credit-related interest rate with an effective annual interest rate of 2.49% to 4.99%
- Instant Care bank installment loan interest rates are fixed throughout the term
- Credit can be repaid early without additional fees
Who is the Instant Care bank installment loan for?
The Instant Care bank’s installment loan is aimed at private customers and imposes certain conditions on its borrowers. For example, the requirements for the Instant Care bank loan include
- that the prospect should have been with the current employer for at least six months.
- In addition to employees, trainees and pensioners can also take advantage of the loan offer.
- The prospect should also have a checking account in the SEPA area. The salary should also go into this account.
- It is also a prerequisite that the applicant’s place of residence or habitual residence is in Germany.
- If you want to apply for the Instant Care bank loan together with your partner, you must have a common place of residence.
The Instant Care bank installment loan is not earmarked, which is why it can be used for a wide variety of purchases. In the case of non-earmarked loans, the borrower freely decides on the use of the money. Whether you want to finance a vacation, renovation, wedding or new furniture, the Instant Care bank leaves its customers with all options with the installment loan.
The installment loan can also be used to combine other loans or to reschedule a loan with poorer conditions . The Instant Care bank loan is also recommended for the settlement of the mostly very expensive overdraft facility. As an alternative to the installment loan, the bank offers car loans, a special-purpose loan that is particularly suitable for the purchase of a vehicle.
How is the Instant Care bank loan applied for?
Those interested in credit can easily calculate the Instant Care bank installment loan online and apply for it straight away . An installment loan calculator is available to consumers on the bank’s website. The credit request is given here. The monthly repayment rate is calculated from the selected loan term, the desired loan amount and the personal interest rate.
After completing the online application, the bank makes a non-binding offer to the applicant. Due to the interest rate dependent on the credit rating, the bank checks the creditworthiness of the applicant and only then makes a corresponding offer. The creditworthiness is checked by means of a Credit bureau query , which, according to the bank, does not result in any disadvantages for the applicant. If the response from the bank is positive, the interested party prints out the loan application, signs it and sends it to the bank, including a SEPA direct debit mandate. The bank requires the following documents to complete the loan application:
- Account statements of the wage / salary account for the last 4 calendar weeks
- Proof of salary for the past 3 months
- the current pension notice for pensioners
- for recipients of parental allowance, the parental allowance notice
- possibly proof of rental income
This evidence can be sent in copied form by post or as a photo by email. The bank offers the Postident procedure to check the identity of new customers. Existing customers can identify themselves with a copy or a photo of their ID card or passport. If the credit decision is positive, the desired loan amount will be paid out within a few days.
Instant Care bank installment loan in market comparison
The Instant Care bank installment loan also performs well compared to installment loan offers from other banks. With possible loan amounts of 3,000 to 50,000 USD, the bank’s offer is suitable for borrowers who want to take out a small loan as well as for applicants with larger requests. With a maximum interest rate of 4.99% , the Instant Care bank loan is also comparatively cheap . Interest rates at other banks are often somewhat higher. It should be noted, however, that the Instant Care bank only grants its installment loan under certain conditions and you should have the best possible credit rating. See also our credit comparison Instant Care bank credit vs. Bank11 installment loan .