A small loan is ideal if you are planning a not too expensive investment and would like to repay the corresponding amount quickly. Whether large electric appliance, the car repair, a new TV or the much-needed vacation – with a small loan, this is very quickly possible. What you need to know about the subject, we have summarized in this article. In addition, we offer you an extensive credit comparison.
The best opportunities for a small loan
For the house construction, the purchase of a condominium or the expansion of the yacht is a small loan, of course, nothing. The microcredit – or sometimes called housewife credit – is usually defined with a maximum of 3,000 EUR or 5,000 EUR. However, there is no official limit under the term “small loan”.
The small loan, which is usually very fast on the account, is suitable for the following issues and situations:
- Purchase of a large electrical appliance, a TV, a piece of furniture, etc.
- Repair of the car, of windows and doors or small repairs to the house
- Compensation of the MRP credit at the house bank (lending rates are lower than MRP interest)
Advantages of a housewife credit in the overview
The advantages of a small loan are obvious. On the one hand, you can quickly and easily get a much needed sum. On the other hand, the duration is usually very short; for conventional offers, the lower limit is 12 months. However, some specialized providers also offer micro loans and credit lines with 30 days or 90 days payment term. These loans are particularly suitable if you can repay the loan with the next salary. Last but not least, it is important that the interest rate of a small loan is low; also and above all in comparison to a discretionary loan.
Find a cheap microcredit and save
Our credit comparison with free credit check offers you the best way to compare loans. In the search mask on the linked page, you get the cheapest comparison offers from different banks listed for the freely chosen amount, the selected term and the individual usage. The cheapest loan is always at the top of the list. The bids come from, among others, these banks: Bank of Scotland, Barclaycard, Santander, OYAK Anchor Bank, norisbank, Postbank, Targo Bank, DKB, ING DiBa, Deutsche Bank and netbank.
Apply for a loan online – how does it work, what do you need to do?
Of course, the first time you use the Internet to find a loan, we are happy to help. With our special loan comparison page you already have a very simple tool for comparing different loan offers at hand. The search mask on the page is easy to use like a search engine. You enter your desired amount, choose a term and a use – in case of doubt “free use”. If the overview does not update itself, click on “Recalculate”.
If you like one of the offers then click on “Tariff details” (gray under the name of the bank and next to the star rating) for more information. You will then be shown an overview of the range of services and some prerequisites. To select an offer, simply click on the table row or on the bank name or on the blue circle with a white arrow on the right in the row. On the next page, select the number of borrowers and then click “Next”. Then you have to provide some information in the form of standard queries. In the end, you simply place your credit inquiry online.
Requirements for your new loan
Small loans are given more often and to more people than regular and usually much larger loans. Therefore, you benefit not only from short terms and low interest rates, but also from a simple handling of your request. Here are the individual requirements for a small loan that you should fulfill:
- A regular and fixed income; in case of doubt a guarantor
- No negative Schufa entries or no serious entries at the credit agency
- Other requirements: Age of majority, place of residence in the Federal Republic of Germany, etc.
A small loan without Schufa query – is that possible?
Yes, that too exists. While not all, but at least some of the vendors do not ask for the help of credit bureaus like the Schufa, if you are looking for a small loan or another loan then you should look for a relatively balanced score. In addition, you should not take out a loan without regulated income and perhaps even in combination with debt. This usually leads to no improvement in the general financial situation.