The consumer loan drawn up with Good Finance is repaid monthly from your checking account. To do this, you need to make sure that there is a sufficient amount of money in your Good Credit account that can be withdrawn on a particular date. The minimum loan payment amount and repayment date are always specified in the credit agreement, so the borrower only has to comply with the terms of the signed agreement.
The consumer credit will be repaid until the total amount of the loan received, together with the annual percentage rate of charge, has been repaid in full. The customer of Good Finance also has the right to repay the consumer loan received before maturity without penalty or other additional payments.
An example of a consumer loan repayment at Good Finance
The customer has applied for a consumer loan at Good Finance in the amount of EUR 1000 with a repayment term of 12 months at an annual rate of 17%. The minimum monthly payment for a consumer credit is € 91.20. The total amount of the loan is EUR 1114.90, including the calculated annual interest rate of EUR 94.40 and the fee for processing a consumer loan at Good Finance – EUR 20. As a result of this calculation, the effective annual interest rate (APRC) is 23%.
But this example of calculation is just a rough example. You will find out the exact terms of your consumer loan at Good Finance by contacting a customer service center. Remember that every credit must be reasonable and your options realistic. Irresponsible treatment of financial liabilities can lead to penalties and damaged credit history.
Advantages of Consumer Credit at Good Finance
- The consumer credit application is processed within half an hour.
- Possible amount of consumer loan: from 150 to 10 thousand euros.
- The interest rate is 12%, but each borrower is assigned an APRC individually.
- Consumer loan repayment period: from 3 months to 5 years.
- There is no need to transfer the borrower’s income to a current account with Good Finance.
- Advantageous Individual Credit Programs for Retirees.
Requirements for potential borrowers who have completed an application for a consumer credit:
- Age of the borrower – 18 years.
- Mandatory monthly “net” income level (after payment of all taxes and financial obligations) – starting from 225 euros.
The customer can apply for a consumer loan through Norvik Internet Bank or at any Customer Service Center. A copy of your passport or ID card (or other identification document) must accompany the potential borrower with the application.The amount of credit available to you or the annual percentage rate of charge is calculated individually for each borrower, depending on the level of income and their regularity. The creditor’s keen eye will certainly also focus on your existing financial obligations and credit history.
Tariffs for services at Good Finance
- Examination of documents when applying for a consumer credit is free of charge.
- Execution of the loan and its issue in cash – 2% of the loan amount, but not less than 14.23 euros.
- The interest rate on loans granted before May 15, 2014 remains at 20-30%.
- The interest rate on loans granted from May 16, 2014 is 18.99% per annum and is calculated only for the amount of credit used.
- The enhanced interest rate on loans granted from May 16, 2014 is 17.99% of the used credit limit amount.
- Partial or full early repayment at Good Finance is free of charge.