Fully digitally lockable installment loan offer with disbursement – who do I get the credit for?
- Written by: Bessie Perez
- Category: Uncategorized
- Published: February 13, 2020
Best loan Credit is a fully digitally lockable installment loan offer with disbursement amounts between 1,000 and 25,000 USD
Annotation: Please note that an installment loan at Best Bank can only be taken out in combination with an in-house checking account!
Conditions of the Best loan
Best Bank is a direct bank with a purely online offer. The financial products offered are managed entirely via an app or in the browser via online banking.
The loan amounts at Best are between 1,000 and 25,000 USD with possible terms of 12 to 84 months. The term is selected in steps of twelve and cannot be selected in other grades. The interest rates depend on the creditworthiness and can effectively be between 1.99% and 19% pa.
An installment loan is either paid out directly by the Best bank or processed through the partner Nice Bank. This is intended to give a larger group of customers access to a loan.
Requirements for an Best loan Credit
You can only receive an installment loan from Best Bank if you meet the following requirements:
- Minimum age of 18 years
- Permanent residence in Germany
- Regular monthly income
- Current account at the Best bank
A key requirement is the Best current account. Without this, an installment loan cannot be applied for. The loan amount will only be transferred to this account, as a customer you have to make further changes yourself. If the Best current account is not used as a salary account, your main account can serve as a reference for your income.
How do I get the Best loan Credit?
If you do not yet have an account with Best Bank, you must first work through the application for a current account. Only then do you have the option of logging into the account overview and applying for a loan. You can do this directly in the browser or via the Best app.
When you apply for an Best loan Credit, you will first be asked for some personal information about yourself and your financial situation. If you have been using an Best checking account for 3 months as a salary account, you do not need to provide any further information. Otherwise you can log in via the online banking of your main account, which can be used to check the details of your financial situation.
Finally, verify yourself using the Videoident procedure. For this purpose, a direct interface to the partner company is integrated in the app. Best does not offer legitimation via Postident.
Repayment & repayment of the Best loan
Based on your personal information, the Best Bank offers you various repayment models from which you can choose the right one. Basically, the loan is repaid in fixed monthly installments.
A rate break is possible once a year. Free special repayments are not granted by the provider. A prepayment penalty applies for each unscheduled repayment.
You can view and manage your payment schedule at any time via the account management in the app.
Protection of the Best loan
Best Bank does not offer any form of protection, such as residual debt insurance. Recently, however, it has become possible for the provider to digitize and manage his insurance using the app. For this, Best works with the partner Clark, who acts as an insurance broker in this case.
You can use the app to manage your existing insurance policies, an overview of their costs and make claims. For this, Clark receives an insurance mandate, which allows the company to contact the insurance companies on your behalf.