The installment loan from Best Bank offers loan amounts between 2,500 and 50,000 USD. Thanks to the organization as a direct bank, the loan application can be submitted entirely online.
Editor’s note: The overall installment loan from Best Bank is a relatively cheap offer. Use the possibility of a complete digital contract to get the loan as soon as possible
Further facts about the Best Bank installment loan
Best Bank is based in Bingen am Rhein and is one of the direct banks. This saves the costs for a branch network and the provider can offer you better conditions for loans overall. The installment loan from Best Bank offers loan amounts between 2,500 and 50,000 USD with terms of 24 to 84 months.
The interest rates depend on the creditworthiness and can be between 1.90% and 4.65% pa. According to the Best Bank, two thirds of borrowers receive an average annual interest rate of 3.19%.
Requirements for an installment loan from Best Bank
Borrowers must meet the following requirements to receive an installment loan:
- Legal age
- Main residence in Germany
- Regulated income from an employment relationship
- Employee relationship with an employer based in Germany
As part of the application process, you will need to submit your last two salary statements and bank statements from the past four weeks. In addition, you should be employed by your current employer for at least six months or no longer be in the trial period.
Best Bank does not grant installment loans to the self-employed, freelancers, pupils, students or the unemployed.
How do I get the loan from Best Bank?
Applications are made entirely online at Best Bank. As a direct bank, it is not possible to apply for the loan on site at a branch. To do this, you have the option of concluding the contract for an installment loan completely digitally. To do this, you can draw up an electronic account statement and legitimation using a video identifier. For loan amounts up to 5,000 USD, these processes are sufficient so that the loan can be paid out after around 2 working days. With higher loan amounts, however, you must always also submit your proof of salary.
Otherwise, Best Bank also offers the submission of contract documents using the Postident procedure. However, this increases the time until the loan is paid out.
Repayment & repayment of the Best bank loan
The installment loan from Best Bank is repaid in fixed monthly installments. The monthly interest is also paid together with the installments. The interest rate is set when the contract is concluded and cannot be changed over the duration of the term. It is also not possible to change the installment amount or extend the term. Nevertheless, you can carry out special repayments free of charge at any time at Best Bank.