Get credit via mobile app – these providers offer it!

Nowadays we try to make all areas of our lives smarter. These new technologies, which should make our everyday lives more comfortable, are now also being used in the credit area. More and more providers are launching apps that promise borrowing in just a few minutes. But what can such a credit via app and which providers already offer such a thing? We have compiled this information for you below.

What can such a loan via app do?

What can such a loan via app do?

Basically, the credit products that you get through an app are not that different from other offers. The world of credit apps now offers a wide range of financial products, from mini loans to credit lines and classic installment loans. Generally speaking, this involves smaller loan amounts, often in the four-digit range. This is because real-time loans on smartphones are linked to a simplified credit check and banks require little security. That is why (so far) no particularly large loan requests can be fulfilled in this way.

  • A loan via app can be taken out very conveniently and from anywhere. You are not tied to a branch or a PC, the smartphone is sufficient.
  • Safety should also be the top priority for smartphones. Always make sure, for example using antivirus apps, that no malware is hidden on your smartphone. When dealing with financial products, you should never act carelessly.

Who offers loans via app?

Who offers loans via app?

The app offers in the credit area come from a wide variety of providers. These are offered by direct banks as well as traditional branch banks and credit brokers. Below we would like to briefly present a selection of these providers. Unless otherwise stated, you can get the apps from Android via social media site.

Loan today

The Loan today app is presented in a different color. Basically, this and the Nice bank app are the same product, since in both cases the loans are taken out through Best Bank.

Enter your desired loan via a loan calculator. Then enter your personal data and perform a digital account view by logging in to your home banking. This means that a digital account statement is created and evaluated within seconds.

  • Loan amounts of 1,000 – 5,000 USD
  • Maturities between 12 and 48 months
  • Effective annual interest rate from 2.99% (depending on creditworthiness)

Best Bank – all banking products in one app

The Berlin Best Bank is a direct bank that has completely adjusted to the digital sales channel. All financial products offered by the provider can be managed via the in-house app or alternatively in the browser. In this way, you can take out loans of up to USD 25,000.

The bank promises that a loan can be applied for and paid out in real time. You can provide and manage all the information you need in the app. However, there is an important condition for an Best loan: you have to open a current account with the bank, otherwise you will not be able to access the other financial products.

By using the in-house current account, the particularly fast loan application should be made possible. If you are already using the account for your salary receipts and important expenses, the Best Bank has direct access to all the information required for a loan. This saves you from having to submit proof of salary and other documents.

  • Loan amounts of 1,000 – 25,000 USD
  • Maturities between 12 and 84 months
  • Effective annual interest rate from 1.99% (depending on creditworthiness)

Cash provider – the superhero among mini loans?

A very young start-up in the financial sector is Cash provider, which was founded in 2017. This is a mini loan broker who realizes the loans paid out in cooperation with Sutor Bank. The corporate concept sees itself as a declaration of war against expensive overdrafts and as a very fair provider overall, since there are no hidden costs and loans are to be paid out particularly quickly.

Cash provider is a mini loan offer with low loan amounts and very short terms. Unlike the competition, the provider does not rely on chargeable additional services such as express transfers or 2-rate options. These services are offered as standard. The loan is applied for via the app, and the current loan can be managed later with the personal login data.

The layout of Cash provider is kept in a subtle comic style, the mascot of the company is the eponymous superhero. This promises to get a loan without Credit Bureau, i.e. without viewing the Credit Bureau file and later entering the loan. However, the company cannot do without a credit agency. Instead of Credit Bureau, a credit application receives information about your creditworthiness from Creditreform Boniversum GmbH. When it comes to lending, even a superhero cannot do without information on creditworthiness.

  • Loan amounts of 100 – 2,500 USD (for new customers a maximum of 500 USD)
  • Maturities between 14 and 90 days
  • Effective annual interest rate from 5.95% (depending on creditworthiness)

Cashpresso – the credit line from your smartphone

With Cashpresso you get a small credit line, which you can access flexibly at any time from home or on the go. The loan is managed either in the browser or in an app on a smartphone or tablet. In the administration you can choose how much you want to have paid out or change your installment plan for the repayment. The offer is the same for all customers, everyone receives a credit line of 1,500 USD at the same interest rate.

The application is completely paperless. In most cases, Credit Bureau information is sufficient to determine the creditworthiness. Occasionally there is also a digital account analysis, but you do not have to submit a salary statement or other documents. A payment from the credit line must be confirmed each time with a transaction number that you receive via SMS. Then it takes a maximum of 24 hours for the money to reach your account.

The repayment is made either in installments or by freely selectable amounts. You can also pay off all outstanding amounts with one payment.

  • Credit line of 1,500 USD
  • Available at any time
  • Effective annual interest rate of 14.99% (variable)

Credit at the push of a button – the Fidor Bank money emergency call

The Fidor Bank money emergency call is another offer from the area of ​​mini loans. Mini is really the right word here, since only 100 USD are paid for first-time users. Anyone who has repaid the short-term loan on time can apply for up to 199 USD next time. The situation is similar with the term: initially only 30 days are possible, then it can be extended to 60 days.

The emergency money call can be selected and applied for as an existing customer in the Fidor Bank app. A promise should be made after only 60 seconds. The payment is then made to the associated checking account at Fidor Bank. For this reason, the offer is aimed only at existing customers, without the account you will not have access to the emergency money call.

In order for your account to be activated for this offer, you must have a certain activity. To do this, you have to fully legitimize the Fidor account and provide a reference account or have a minimum turnover of 1,000 USD in the last 12 months. Only then can you apply for the mini loan for a processing fee of 6 USD, there is no interest. This fee is offset against the repayment of the loan amount.

  • Loan amounts of 100 or 199 USD
  • Maturities of 30 or 60 days
  • 6 USD processing fee instead of interest

 

“My credit” from the Nice bank

The ” My Credit ” app is provided by the Ostsächsische Nice bank Dresden. You can borrow up to 5,000 USD in just a few steps using the Nice bank’s slim app. The app then gives you a direct overview of the current loan using the integrated online banking function.

Conclusion on the loan via app

The target group of the app loans just presented seems to be clear: the offers are aimed primarily at young and tech-savvy people who want to get a loan in an uncomplicated manner. Nevertheless, a trend can be seen here, which indicates that in the future more and more banks will certainly access these sales channels. For many people, the smartphone or tablet is a natural companion in everyday life. It is therefore not surprising that banks and other financial service providers are also using these new technologies.

The most striking feature is the speed at which a loan can be taken out via a smartphone app. Fully digital contracts make this possible. However, since this is related to a simplified credit check, only smaller amounts of credit can currently be realized . So it remains to be seen what the future holds.

Borrow 600 dollars -you can easily take out a 600 dollar mini loan and pay the bills

600 dollar mini loan

600 dollar mini loan

A financial bottleneck can always occur and be bridged with the help of a 600 dollar mini loan. If you receive an unexpectedly high bill or if you cannot pay the rent because your salary was not paid in time, you can easily take out a 600 dollar mini loan and pay the bills. Here we tell you how you can take out a 600 dollar loan and what else you should know about it.

Which providers offer a 600 dollar mini loan?

Which providers offer a 600 dollar mini loan?

You can take out a 600 dollar mini loan with Best Bank, Good credit company or Nice Bank, for example. However, you should already be a customer of Good credit company, because first-time customers will not receive loans of more than 500 USD. As a first-time customer at Nice Bank you also get a 600 dollar loan with an interest rate of 10.36 percent. This is the annual percentage rate, which is only calculated over a short period.

With a term of 30 days, you only pay 5.11 USD in interest. The effective annual interest rate at Best Bank is 7.95 percent, which means that the interest rate is only USD 3.78. If you are an existing customer of Good credit company, the interest amounts to 6.95 USD.

Who can take out a 600 dollar loan?

If you are of legal age and have a German bank account, you can take out a 600 dollar loan. As an additional requirement, you must provide proof of residence in $ope for a loan with Nice Bank. Best Bank and Good credit company require that your main residence is in Germany. Good credit company also requires a minimum income of 500 USD. You only get a credit of 600 USD as an existing customer. First-time customers can only take out loans up to USD 500 there.

Best Bank expects a minimum income of 700 USD, while Nice Bank does not provide proof of income. Loans are generally not given to over-indebted people. However, if you have a negative Credit Bureau entry, this is not a major problem, because small loans are often given by the providers mentioned. Your loan application can be rejected, but it is also worth trying if you have a poor Credit Bureau score.

What is a 600 dollar loan needed for?

Not everyone can spontaneously raise 600 USD. If this becomes necessary, a mini loan can be of great help. After all, it can always happen that your boss just sweaty your wire transfer and you can’t pay your rent. Since you know that your boss will transfer the money shortly, you can safely take out a 600 dollar mini loan, which you will repay as soon as the salary is in your account. Interest is negligible, with Best Bank you only pay USD 3.78 interest on the loan with a 30-day term.

You can also pay unexpectedly high bills with a mini loan. You usually only notice a defective water meter if you check your consumption regularly or if the end-of-year billing is significantly higher than you thought. Until the question of whether the meter is really defective has been clarified, you should first pay the bill.

If you are not sure that you can pay off your $ 600 mini loan during the short term, you should look for alternatives. Also keep in mind that additional options such as direct transfer or payment in several installments increase the total loan costs very strongly. An installment loan from your house bank may be the cheaper and safer way. Most companies, such as energy suppliers, can also talk to themselves. If you are unable to pay an unexpectedly high bill, there is often the option of agreeing an inexpensive payment in installments.

How quickly is a 600 dollar loan paid out?

How quickly is a 600 dollar loan paid out?

Depending on the provider, it takes a different amount of time until you receive your 600 dollar mini loan. Good credit company transfers the money very quickly, it should be in your account within three to five working days. It can take a particularly long time at Nice Bank. Here the money is with you within up to 15 working days. Best Bank is in the middle with a period of up to seven working days.

If you really need the 600 USD, you can book a preferred processing with all providers. You will receive your loan on the same day, but at the latest within 24 hours. Certain restrictions often apply to amounts over USD 500. Best Bank charges a fee of 99 USD for faster processing and only offers this option to existing customers.

Good credit company only charges 39 USD for this service. However, loans from 500 USD are only granted to existing customers. With Nice Bank you can also have a 600 dollar loan paid out within 24 hours. The fee for this is 179 USD.

When do you have to repay a 600 dollar loan?

You will repay your USD 600 mini loan by the end of the agreed term. By default, the term of mini loans is 30 days. With Good credit company you also have the option of choosing a term of 15, 60 or even 90 days. Nice Bank also offers the possibility of a longer term. Here it is 62 days.

The repayment is automatically divided into two installments, for which a fee of 99 USD is required. If you take the $ 7.93 interest into account, you would pay a full $ 706.93 for your $ 600 loan with this option. It is similar with Best Bank. The extended term is 60 days and the 2-installment option also costs 99 USD. Because of the lower interest rates, the loan would ultimately cost you 704.68 USD.

Loan that is high flexibility in repayment thanks to optional installment breaks

Framework credit from Best bank in check

Framework credit from Best bank in check

You can use the Best bank credit line at any time without any restrictions. Available limits of between $ 2,500 and $ 25,000 are possible. If the credit line has been approved, you can withdraw amounts from 1 $ via the associated online banking.

There are no fees for account management. Interest on effective use of the credit limit only amounts to 5.99% pa.

The loan can be repaid in fixed monthly installments, and special repayments are also possible. In addition, an installment break can be used during which only the accrued interest has to be paid.

Requirements for a credit line with Best bank

Requirements for a credit line with Best bank

You should meet the following requirements so that you can apply for the framework credit:

  • You must be at least 18 years old
  • Regulated monthly income from an employee relationship
  • Or verifiable income as a freelancer
  • Workplace and residence are in Germany
  • Current account with a German bank

In addition to pensioners and freelancers, freelancers can also apply for Best bank’s framework credit , provided they can provide relevant evidence of regular income. However, this only applies to freelancers without a business registration, all other self-employed cannot apply for the loan.

As an employee you have to submit the last three salary slips, freelancers need the last two tax assessments and as a pensioner the last pension assessment is sufficient.

How do I get the credit line from Best bank

How do I get the credit line from Best bank

The application for the credit line with Best bank is initially carried out using an online form, which you must fill out. In it you indicate the desired loan amount and the installment model as well as the required information about your financial situation. Your Credit Bureau file will be checked during the application process.

You must submit the signed credit contract by post. You can enclose proof of your income in paper form or you can use the digital income check, which automatically creates a household bill by viewing your salary account. The legitimation of your person can also be done online using Videoident. You can also do this in a post office and submit it together with the loan agreement.

When the contract is concluded, a desired payment amount can be determined directly.

How is the Best bank framework loan repaid?

How is the Best bank framework loan repaid?

The Best bank credit line is generally repaid in installments. However, you can largely determine the exact height yourself. The minimum rate is $ 50 plus interest. Special repayments are possible at any time and you also have the option of taking an installment break, during which interest continues to be calculated.

Special repayments can be made at any time by transfer to the master credit account. The monthly installments and interest are automatically debited from your reference account on the 30th of each month. The interest always takes effect from the point in time when the credit line was drawn. The interest payment cannot be suspended.