A SCHUFA credit check is mandatory for a loan application for a € 4,000 loan.
A loan of 4,000 euros is still one of the smaller loans that consumers receive from their house bank or of an online bank. According to the 2014 FinanceScout24 credit study, 4,000-euro loans are mostly used for vacations or for depositing a rental deposit. In this guide, we give you practical tips on the popular installment loan.
How to find the right 4,000 euro loan
Two factors are important for every borrowing. On the one hand, borrowers have to determine their exact capital requirements, and on the other, they must know exactly how much money they can repay monthly.
Regardless of the size of the loan, you should always consider whether it is really necessary to borrow money of this amount from the bank.
Compare prices and set credit requirements
Especially when traveling, prices can vary significantly from provider to provider. Thus, you can already save by the choice of the organizer credit costs, by having to absorb significantly less money. In addition, you should weigh in which season you travel. If you are not tied to fixed holiday periods, you have a clear advantage, because then the off-season usually offers great savings.
If you deny your rental deposit with the loan, there is no room for maneuver. In this case, it all the more depends on the credit comparison, through which you can save.
Set up the household bill and check the loan volume
Although lending by the bank is a hurdle that you need to master, much more important is later repayment. Therefore, it is very important that you set up an honest household bill to determine which amount of credit you can continuously repay over the term of the loan. Never calculate too close. This keeps your liquid in the event of unforeseen expenses and you do not need to borrow another loan in an emergency.
Tip: Select a monthly charge that is no more than one third of the amount that is available to you monthly after deducting all fixed costs. If, for example, the remaining 750 euros remain in the budget, a maximum monthly rate of 250 euros would be realistic.
Think about needs and question them
A wish is not associated with costs. But before you borrow, always consider whether financing is indeed the way to go. To finance a trip with a 4,000-euro loan would speak if such a world trip later unlikely and you have the chance right now. For example, this could be a great trip after graduation, which would not be so easy to do with a family.
If you still have the opportunity to plan your trip more cheaply, you should use it as well. After all, a cheaper holiday also means lower interest costs and lower rates. Thus, the instant loan is repaid all the faster. Keep in mind that a payment obligation to the bank may mean that you can not fully enjoy your holiday. In the background is always the idea that you have to pay installments over a longer period.
If you have questioned your needs in detail and considered the consequences, you can finally apply for your € 4,000 loan.
Step by step to the 4,000 euro loan
The big advantage of the 4,000-euro loan is that it is considered a small loan. Thus, lending terms are not as stringent as a larger five-digit loan. At the same time, installment loans of this size are offered by all house banks and online banks.
4,000 euro loan without SCHUFA
Small loans are often also given to customers with low credit ratings or less positive SCHUFA. Most foreign banks lend without SCHUFA. Make sure that they are European banks and therefore subject to European law. That puts you on the safe side.
So come to your installment loan over 4,000 euros
Compare loan offers from various banks directly online. Check the corresponding offers.
Submit your loan application to the desired bank. With sufficient creditworthiness, the personal loans no credit check citrusnorth.com unsecured loans can be approved within a few seconds. In addition to a positive SCHUFA entry, this usually requires regular income as well as a residence and current account in Germany.
Sign the loan application and legitimize yourself by most significant or videoident.
After the bank has checked your application and all documents, the money will be transferred to the specified account. Depending on the bank and procedure, the loan payment may take several working days. If your bank has its own branches, you can in some cases have the loan amount paid out in cash.
Interest rate and term
The interest and the term decide on the total credit costs. For this reason, you should first select a suitable runtime. The longer the term, the smaller the monthly installments. However, with a longer maturity, interest rates often rise, which can significantly increase the cost of the loan.
In addition, when choosing the term, pay attention to the monthly installment amount that you can easily repay. Usual maturities for a 4,000-euro loan are 12, 24, 36 or 48 months.
Mostly, terms of 60 or 72 months are possible. However, the term is usually not in proportion to the loan amount. In addition, you are then tied to repayment for more than five years. If your financial situation changes in the meantime, you may have difficulty with liquidity.
With a maximum maturity of 48 months, minimal differences in APR are less significant. This is, even more, the case with shorter terms. But especially with longer credit terms, the costs increase significantly with higher interest rates. In principle, you should pay attention to the APR before borrowing. The lower it is compared to multiple providers of the same duration, the more you save on credit costs.
Without security, no 4,000-euro loan
Even if such a loan is still among the small loans, you will not get it without having to provide appropriate collateral.
The biggest security is an income from a regular job. In addition, your credit rating counts. On this basis, banks calculate the credit default risk. For this comfortably you create your own scores. For each grant of credit, it must be ensured that the borrower can make the installment payment on time.
For self-employed mostly further tests
Not all banks give a 4,000-euro loan to the self-employed. If you are self-employed, you should ask in advance if a loan is even possible. Most banks require further proof that you have regular income. These include the account statements favorable the last three months as well as the income tax assessments of the last three years. As a rule, you must have been self-employed for at least one year to get an installment loan.
For whom is a loan of 4,000 euros suitable?
Loans over 4,000 euros are often used when the credit line has already been exhausted and no financial reserves are available for necessary purchases. Many consumers also use this loan to finance essential health care, dentures or new equipment. Since the loan is still among the small loans, lending for regulated income and a sufficient credit rating is usually very easy. For this reason, the 4,000-euro loan is usually suitable for necessary, smaller purchases, which are repaid in moderate installments over a manageable period.