How micro-credit by private even if interest rates are currently as low as never before, it is still difficult to get a cheap loan, if it has insufficient collateral. Without regular income or sufficient other values such as life insurance, real estate and various securities, most banks give no credit, not even for small sums of money. Even if the interest rates on personal loans are usually higher, this option may still be worth it. Because who needs only a small amount of money and quickly want to pay them back, on this wise financial flexibility. The comparatively high interest rates into perspective with the small runtime. There are various Internet platforms on which individuals lend. Smava work and before you opt for a personal loan, you should explore of course all other options Auxmoney. An objective comparison of credit (E.g.

here) provides an initial overview of the market interest rates. For personal loans There is in Germany two platform that are recommended by Stiftung Warentest: Smava and Auxmoney. Before you can contact the private funders in contact, must register but at the Agency. Before the actual loan application, the provider checks your credit rating. Questions about assets must be answered here carefully.

Of course the SCHUFA belongs to the credit check request, without which you can get from private no credit. A loan request may be made after a positive creditworthiness check. To do this you should set out as detailed and plausible, what the money is for. Consumer credit will be rejected more often, private money lenders are more willing to finance useful published purchases such as for example a company car as a holiday trip. Then, you specify also the maximum interest rate they are willing to pay. More donors are interested in your application, the likelihood is greater that a comparatively get cheap offer. The credit is comprised usually of several instalments. Many private lenders together pay it so this whole. The personal loan a risk premium can be payable in most cases require a risk premium over the possible loan losses should be compensated the agencies in addition to the interest. This aspect is also interesting for private investors who lends money to individuals about Smava and Auxmoney, enters a low risk, because the agencies loan losses offset? The yields are not interesting, by the way, they are above market interest rates on savings. How much is the credit? Although interest rates above the Smava and Auxmoney agencies can be set in the principle itself, but the chances of getting a loan are in fact low, when to choose the maximum interest rate too low. Only if is worth the investment for the donors, is also investing. So it is one of the disadvantages of personal loans, that the interest normally exceed the level of the Bank. On average paying 10% at the two major agencies around. In some cases, it can come but at interest rates of up to 16%. For this reason, the personal loan is an option especially if quick and easy money is required and the banks deny a loan. Pay attention to possible short term, then the higher interest rates are more bearable.