In an online comparison to the 9000 USD loan, which should be paid off in 48 months, Lite Bank, Good Finance and Cream Bank appear in the first three positions with the cheapest offers. However, an interest rate of up to is offered for these loan offers, which means that the effective interest rate depends on the creditworthiness and is determined individually for each applicant.
The interest rate can also be improved if a second borrower is identified who has a good credit rating.
The 9000 USD loan from Lite Bank is offered at an effective interest rate of 4.29% to 9.99%, with the 4.29% only available until October 31, 2011 and rising again to 4.75% from November. The committed borrowing rate set for the full term is 4.21%. According to the sample calculation on the Internet, the monthly rate would be USD 204.05.
However, the monthly rate actually to be paid is only finally determined after the interest rate has been set. Lite Bank does not charge a processing fee for this offer. Online kredit offers the 9000 USD loan with a sample rate of 204.28 USDs per month.
The annual percentage rate is between 4.35% and 10.90%, but will increase to 4.99% to 10.90% from November, as the cheaper option is an offer until October 31, 2011. The committed borrowing rate for this 9,000 USD loan is 2.78% and is fixed for the entire term. However, Good Finance charges a processing fee of 3.00%.
With a possible monthly rate of USD 204.48 and an effective interest rate of 4.40% to 11.95%, the credit offer for Cream Bank’s USD 9,000 loan is in third place. But also here the lowest interest rate increases again from November to 4.50%, since the October offer expires.
A processing fee is not charged and the committed borrowing rate is fixed at 4.41%. For all offers, early repayment or special repayment is possible after six months at the earliest. In such cases, a processing fee will not be reimbursed proportionately or in full.
Requirement for approval of a 9000 USD loan
In order to receive a loan approval, some prerequisites must be met. First of all you have to be of legal age, have a permanent place of residence as well as a bank account in Germany. A regular income is another elementary requirement. The employment contract should exist for at least six months, no longer during the probationary period and for as long as possible.
It is also important for the credit check that a positive Credit Bureau information is available. When making a loan request, you should also bear in mind that a preliminary agreement is not a binding contract. Only after the required documents have been submitted, identification by Post – Ident and the creditworthiness check completed is the final interest rate determined and the valid credit agreement concluded.