4000 Euro credit: installment loans and alternatives to it
A € 4,000 loan does not have to be a classic installment loan from a bank. This is currently very cheap, but often cumbersome and not available to everyone. As alternatives offer z. For example, a short-term loan, a framework loan, mortgage or a foreign loan. Here, the costs are a bit higher, but the chances of a commitment as well. An overview of various 4000 euro loan providers.
Even small loans are often cumbersome for banks
Installment loans are currently cheaper than ever. However, the low interest rate policy of the ECB benefits only those who have at least a good credit rating. Those who are self-employed or not employed for such a long time, earn little or have only mediocre private credit scores, have to pay considerably more. For many banks, consumers with slightly below-average creditworthiness no longer receive loans, precisely because interest rates are so low.
The reason: banks want to shine in the competition with low interest rates. In addition, the institutions are transparent and refrain from individually setting the loan interest. The consequence: Low unit interest rates, which exclude a part of the interested parties.
With smaller amounts of credit, the expense that can be associated with borrowing is also significant. On the one hand, many banks are investing in the development of fully digital application paths. On the other hand, many institutions still require extensive proof of income and proof of identity, including printout, going to the post office and, if necessary, calling back by an administrator.
For a 4000 euro credit, this effort is not always justified. It may therefore be worthwhile to take a look at alternatives to the installment loan. Framework loans, short-term loans, loans without private credit, securities loans and mortgages are eligible.
4000 euros loan with revolving credit line
Anyone who needs 4,000 euros in credit can apply for a revolving credit line (“framework credit”). Such credit lines are offered separately or in conjunction with credit cards. Account holders can access the credit line at any time – by bank transfer to their own account, cash deposit at the ATM or card payment.
The repayment is flexible. Payments of any amount can be made at any time. In addition, a minimum repayment is due per month, which, depending on the provider, amounts to between 2% and 10% of the amount claimed on the settlement date. The minimum repayment at 4000 euro credit thus starts at 80 euros.
Interest accrues only on shares actually used in the credit line. Framework loans are thus suitable as a liquidity reserve. Especially in connection with credit cards, the acceptance criteria are often moderate. Since a proof of income is often waived and up to 4000 € credit a flawless private credit sufficient, even students can apply for the framework loans.
Once established, the credit line is available at all times, even after an interim repayment of the loan. Account holders can borrow 4,000 euros without renewed application.
4000 Euro credit as a lightning loan with same day payout
With some German Payday Loan offerers a 4000 euro loan with immediate payment is available. This loan amount marks the upper range of amounts available as microcredit. The advantage of these loans: The money is available in the best case within one hour on your own account and can be withdrawn the same day.
The loan applications are typically straightforward. The identity is verified by videoident and the contract is signed with digital signature. Proof of income can be uploaded in electronic form. This does not require a trip to the post office.
However, those who earn little or no income should not have false hopes. A 4000 euro credit without proof of income does not exist even with payday loan providers. If it is advertised to refrain from such proof, this usually refers to very small loan amounts below 200 euros. These do not legally constitute consumer credit and therefore do not require a qualified credit check.
In general, payday loans are not cost drivers, because the terms are short and the loan amounts are manageable. However, the nature of the loans (quick and easy) depends on additional services, which can be very expensive. These include z. For example, the same day payout and repayment of the loan in several installments.
Short-term loans are often available on the same day and easily available. With many additional benefits, the small loans but expensive.
4000 Euro credit without private credit from abroad
If there is a negative private credit entry, a credit comparison in the German market is unnecessary anyway: Almost no bank grants loans without a positive response from Wiesbaden. In this case, 4000 euros credit without private credit from abroad are possible. However, this requires that there are no “hard” negative characteristics and that the applicant obtains a sufficient income from a secure employment relationship.
The choice of loan amounts and terms is limited. Typical are net loan amounts of approx. 3,000 to 8,000 euros for medium durations of three to four years. The interest rates are roughly at the level of an average disposition credit.
The foreign banks waive the request for a query at private credit and do not report this to the borrowing. Nevertheless, a credit check takes place. This relies on the one hand on public directories, in which hard negative features are listed. On the other hand, applicants must provide self-assessment. Single persons without maintenance and credit obligations have to earn at least € 1,150 net per month for a € 4,000 loan. The self-employed, students and the unemployed are definitely not getting the loans.
4000 euros loan from the pawnbroker
4000 Euro credit are also available from the pawnbroker. Mortgage loans are very straightforward: a valuable asset is deposited and borrowed at a certain percentage of its market value. For a 4000 euro credit z. B. a high-quality watch worth about 6,000 euros. The loan is immediately paid in cash and repaid by default after three months. If a repayment is not possible then the loan can be extended. An interest rate of 1.0% accrues per month. In addition, fees for the storage and insurance of the deposit must be paid.
Mortgage loans are a very straightforward way to raise liquidity. The only requirement is the possession of a non-encumbered asset suitable for deposit. The loan will be paid on the same day. Income and private credit of the borrower are not checked. Even if the loan is not repaid, there are no potential negative consequences, apart from the fact that the deposit will be auctioned at auction. If the redeemed value exceeds the demand of the pawnbroker, the difference must be reimbursed to the previous owner of the item.
Meanwhile, there are also individual online pawn shops. Here, the pledge is sent by post and the loan is paid by bank transfer.
Securities loan even with a small deposit
Securities loans are another alternative to installment loans. More and more banks are also offering them for relatively small amounts: 4000 euros credit and less is possible unlike ten years ago.
A securities loan works much like a credit line. The holder of a custody account is granted a credit line that can be accessed at any time. The access takes place z. B. by transfer to a checking account. The loan is secured by the securities held in the custody account.
As a result of the collateralization, there is almost no risk of default for the bank, with the result that interest rates on securities loans are very low. The repayment is flexible: Often not even a monthly minimum repayment is required. The interest will be charged to the credit account.
The amount of a security loan will depend on the market value of the securities in the portfolio. Typically, blue chip stocks can be encumbered with 50% of their market value, industrialized bonds with 80% of their market value.
There is a certain risk: if the prices of the loaned securities fall very sharply, there may be a reduction of the credit line by the bank. If the amount of the loan in question exceeds the granted credit limit, there is a tolerated overdraft. In the worst case, this leads to the short-term termination of the credit line.
Securities loans are available without proof of income and many banks even without private credit information. Dispositions are possible immediately after setup. Some brokers even set up a credit line for their clients without request. Important: It must be possible to pay off the loan in a current account: Some providers can only use the lines of credit to buy securities.
As an alternative to the lending of securities accounts, the lending of life insurance policies and savings contracts may also be considered. 4000 Euro credit are then available from about 6000 Euro repurchase value or Bauspar credit. The short-term lending of such contracts is often much cheaper than the termination.
Interest-free promotional loans for new customers
4000 Euro loan interest-free for six months? With new customer actions that is possible. Banks occasionally apply framework and discretionary loans with an interest-free start-up phase. If the loan is repaid within this phase, there are no costs.
Banks are not wholly unselfish: the providers hope for a greater utilization of the loans by the customers of the interest-free period. The calculation: Not all will repay the initially interest-free 4000 euro loan within the interest-free phase.