Bank Loan: cheap, fast, flexible?
Fine Bank Bank offers private customers a free installment loan (Fine Bank private loan) and construction finance (Fine Bank real estate finance). Favorable interest rates and complete flexibility in repayment make the personal loan the ideal car loan. Fine Bank is one of the largest credit institutions in Germany. It ranks second among direct banks in terms of customer numbers with almost 4 million customers.
In addition to the loan offer, the Fine Bank cash account is a main product in the private customer area – a practically free current account with cheap cards and other attractive additional services such as credit interest and immediate overdraft facility at particularly low debit interest rates. The credit institution has 26 locations across Germany with its headquarters in Berlin.
Fine Bank is not only active in private customer business
But also as a commercial bank. In doing so, she focuses in particular on the sectors of housing, renewable energies, education, healthcare and agriculture. Liberal professions and municipalities are supported by the provision of financial services.
The Fine Bank feels particularly committed to the principle of sustainability. The bank wants to develop “effective solutions for ecological, social and economic challenges”.
Apply for and compare the Fine Bank personal loan
Apply for the Fine Bank online credit using the form of our cooperation partner. The application route is self-explanatory.
Fill in the fields for loan amount, term and purpose and decide whether you want to take out the loan alone or together with another person.
As the request progresses, information about your employer and your income and expenses will be required.
As soon as you send the completed form, you will receive your individual Fine Bank loan offer free of charge and without obligation.
The loan offer will be created for you in a few moments. In addition, Good Finance also carries out an automatic loan comparison.
If the comparison shows that other direct banks have better loan offers for you, you will also receive them.
After you have received the loan offers, you can decide whether you want to accept the Fine Bank loan offer or the loan offer from another bank.
The banks involved in the financial check loan comparison generally remain bound to the offer for at least a few days.
The actual application process only begins when the signed loan documents are sent to the bank.
An overview of the credit terms
At present (March 2020), the Fine Bank is granting the personal loan at annual interest rates that depend on creditworthiness and at term-dependent rates.
Active customers (existing customers) who request the loan via online banking receive an interest bonus of 0.2%. A Fine Bank cash account is required.
The following screenshot provides an overview of the loan terms:
The conditions of the Fine Bank personal loan
Net loan amount 10,000 dollars, term 84 months, APR 3.49%, borrowing rate (tied) 3.44%, monthly Installment 134.10 dollars, total amount 11,264.57 dollars.
As part of the lending process, residual credit insurance is offered under the term loan protection. Completion is optional.
The contribution is raised as a one-off payment and co-financed through the loan. The net loan amount and monthly installment increase accordingly.
The contribution to loan protection is therefore not levied separately, but is included in the loan rate.
However, this does not say anything about the cost of the insurance. The inclusion in the loan settlement does not mean that the costs are particularly low.
On the contrary: residual credit insurance, also known as installment protection insurance or residual debt insurance, can make a loan considerably more expensive.
In our opinion, residual credit insurance is generally superfluous when taking out customary installment loans. They should not be taken out because they often make the loan unnecessarily more expensive if insurance cover is often insufficient.