Financial freedom is more important to more and more people. But what happens if a short-term cash injection is needed? Here, the Metabank installment loan can help, which is granted between 5,000 euros and 50,000 euros. With fixed monthly installments up to the borrowers always, what financial burden comes to them. With the installment loan, all wishes can be fulfilled, because he is at leisure and has a flexible duration between 12 and 84 months. We show how the installment credit of Metabank compares in credit and how easy it is to get.
- Net loan amount: 5,000 -50,000 euros
- Maturities between 12 and 84 months
- Interest below usual market average
- Special repayments possible at any time
Installment credit – fulfill wishes from 5,000 euros
Anyone who makes a credit comparison, quickly realizes that there are countless credit options at the banks. They differ mainly in terms of:
- Number of repayment installments
- borrowing rate
- amount of funding
- annual percentage rate
- running time
The Metabank installment loan offers borrowers a generous financial freedom without being too restrictive. According to our Metabank experience, the financing amount for this installment loan amounts to a maximum of 50,000 euros, which means that even larger requests can be met. Even at maturity, borrowers are extremely flexible: between 12 and 84 months. Also with regard to the borrowing rate, the installment loan can keep up in the credit comparison, although of course the interest rate can change again and again and be adjusted according to market conditions.
Free use for loan payment
The sum of the Metabank installment loan is paid once and is not tied to any purpose. For example, borrowers can finance a holiday at short notice, modernize their own four walls or invest in a new vehicle. The imagination has no limits thanks to the flexible financial means. Even with the monthly repayment, borrowers always know what to expect. Fixed installments are held on closing of the loan to ensure an economically sustainable financial burden and secured repayment.
Tip: The Metabank installment loan can also be a way to replace more expensive loans with other banks. The credit comparison shows how many consumers can actually save with the offer of Metabank and whether the installment loan is worthwhile
Metabank installment loan in detail
To be able to assess the Metabank installment credit correctly, we take a closer look at the conditions. As the Metabank experience shows, borrowers can easily calculate the conditions with an individual calculator based on the desired loan amount and duration. What stands out: There are no extra costs or hidden fees charged. Instead, the Metabank makes the conditions transparent and even offers the possibility of free special repayment. The annual percentage rate of charge is also defined in advance and will not change during the term of the loan.
Metabank installment loan – financing without net and double bottom
At first, borrowers can conveniently calculate their desired credit online and simply apply online at the click of a mouse. However, the net loan amount must be at least 5,000 euros. The minimum term is twelve months. Of course, credit seekers can choose the maximum amount at their loan request (50,000 euros) and the maximum maturity at 84 months. The loan calculator shows immediately how much the monthly installment and the total amount would theoretically fail. We have done the practical test and show the Metabank experience:
With a net loan amount of 5,000 euros and a term of twelve months, we have a monthly installment of 425, 11 euros. The annual percentage rate is 3.79%. Thus, the total amount for the loan including interest payment is 5,101.32 euros. If you compare these conditions in the credit comparison, you will notice that the offer is extremely fair. If you want to save, you should use the loan calculator for the direct comparison and compare the conditions.
Metabank experiences: installment credit often better than the market rate
The terms of the Metabank installment loan are not only presented transparently, but are also competitive in the credit comparison. The effective market interest rate can be adjusted again and again, but at 3.79 percent (September 2018 test) it is below the market average. In comparison with other banks, we have seen that the market interest rate averages over five percent. If we look at a loan amount of 10,000 euros and a maturity of 84 months, the difference is enormous:
- Metabank installment loan: total amount for credit 11,374 euros
- other banks: total amount over 12,000 euros
We have here, according to the terms of the loan comparison of a savings of over 600 euros.
No risk for borrowers
Especially with particularly attractive loan offers, borrowers often look for the hook. However, our Metabank experience shows that it actually does not seem to exist in this case. Initially, borrowers can easily check their credit online and do not have to stick to normal business hours. If the offered conditions for the Metabank installment loan meet with approval, it can simply be applied for online. Even with the repayment, the bank is flexible and fair. Customers can even claim special reimbursements for free, as often as they wish.
The Metabank offers favorable installment loans from an interest rate of 3.79% per annum
Replacing other loans with Metabank installment loan
Many consumers often have several small loans at significantly worse terms. Those who seek a credit settlement often find that interest rates are not always optimal; too much for the loan is paid. Again, the Metabank installment loan can help. Since it is not bound to a purpose, of course, the transfer of other loans is possible. For this, the borrowers should first add up all open loans and enter the desired amount as a net loan amount into the credit calculator of Metabank. The terms can be variable, because the loan can be applied for between 12 months and 84 months.
A monthly rate increases overview
Instead of serving different monthly installments at several banks, the installment credit of Metabank leaves a monthly installment that customers can repay flexibly. This helps to get an overview of your own finances. In addition, borrowers can additionally save by cheaper interest rates. The triggering of other loans also terminates the residual debt insurance that many borrowers have concluded to hedge. This saves additional money so that borrowers end up with significantly lower monthly expenses.
Calculate savings with credit calculator
Metabank also supports its customers in the lending process. There is also a calculator available online for free, with the customers learn how they could actually save. Let’s look at an example. Anyone who has a balance of 5,000 euros and a remaining term of twelve months at a previous monthly rate of 650 euros, he will save with the offer of Metabank installment loan monthly 224 euros.
Apply for Metabank installment credit: That’s the way it works
If you want to apply for the Metabank installment loan, you only need a few minutes online. The form is divided into different categories and can be easily retrieved from the loan calculator. The structure of the form looks like this:
- credit request
- preliminary examination
- application completion
In the first area of the form, the applicant’s credit request is recorded. Here, the future borrowers will find the net loan and the term as well as the monthly installment, the interest and the total amount. There are also general information (for example, if applicants are already customers). In the further course of the first step, personal data must also be recorded. As we have seen in the credit comparison, this approach is similar for other banks. In addition to the personal data, the occupational group is also queried. To deposit is also the tax ID.
Represent financial situation
In order to apply for the Metabank installment loan, customers must also present their financial situation. This includes the disclosure of current income or savings. The number of dependent children is also in demand here. With this information, the bank assesses whether the applicant can afford a monthly installment in the desired amount from an economic point of view or not. After these data have been entered, the complete presentation takes place in the third step – “Overview”. At this point, the applicants can review their information again and change it if they wish. Later, this is still possible, but with a much higher cost. Therefore, before taking any further steps, customers should take the time to re-examine all entries.
The installment loan can be conveniently requested online at Metabank
Preliminary check for installment credit already online
On the basis of the information, a preliminary examination is carried out online. Here, it is judged from a neutral point of view whether the desired net loan amount can even be repaid with the economic income. In the preliminary examination, the Bank assesses whether the borrower ever receives the documents for completing the application, according to internal criteria. Each bank evaluates according to individual specifications, as the credit comparison shows. However, according to our experience, there is little transparency here so that borrowers do not always know why their loan was actually rejected. Demand for customer support can help, but is not always promising.
Documents are delivered and the application is prepared
If the preliminary examination for the Metabank installment loan is positive, the borrowers receive the documents for the conclusion of the contract. They are sent as PDF documents together with the terms and conditions and the price-performance index of the bank to the customers. To conclude the contract, only the legitimization with a signature is necessary. To verify the identity, a valid identification document (such as a passport or identity card) is required. After the signed documents have been received by Metabank, further processing takes place. In the next step, the desired loan amount is paid in full to the account. If another loan is to be replaced with the installment loan, the payment will be made directly to this credit account to clear and trigger the loan.
Note: The application for the loan can easily be made online. To ensure the highest level of security, all information is transferred over an encrypted SSL connection.
Private credit information also at Metabank installment credit
With the application for installment credit, they also agree to a transfer of data to the Private credit. There are, according to credit comparison, some banks that offer a loan without Private credit, but the Metabank is not one of them. The application data are transmitted to the protection community and stored there. The mere request does not necessarily have to have a negative impact on borrowers. However, if you make too many loan requests within a short period of time, you may get a rejection from some banks because of their internal valuation criteria.
Information about creditworthiness
The data is transmitted to Private credit for all credit inquiries at Metabank. It provides information about the creditworthiness of customers and stores all information about their payment behavior. Are invoices paid on time or are there delays in payment? Do other loans already exist and have they not been paid on time? On the basis of this information, the credit institutions also assess the creditworthiness and decide on a license or rejection. Once a year, borrowers can obtain information about their stored data from Private credit free of charge. If erroneous information is noted there, the customers can also insist on deletion of this data (in case of proof of false information). If a loan has already been made, it will first remain in the Private credit with this note, but it will be deleted after a certain period of time.
Note: On the basis of the Private credit and internal credit check, it can of course also come to the rejection of a credit request. This happens first and foremost to protect consumers if, for example, the financial burden would exceed the income.
Conclusion: Metabank installment loan up to 50,000 euros possible
The Metabank installment loan can be applied for with flexible terms of between 12 and 84 months. Even with the desired loan amount, customers have the choice between amounts of 5,000 euros and up to 50,000 euros. As our Metabank experience shows, flexibility is the top priority anyway in installment loans. There is no use and also variable free special repayments are possible at any time. Thus, the Metabank stands out significantly from other banks in the credit comparison. Measured by the interest rates, the bank can also keep up. They are even lower than the market average. Anyone who chooses a installment loan at Metabank can even think about the replacement of other loans by saving interest. This is helped by a free comparison calculator, which is available online on the bank’s website. Would you also like to take advantage of the installment loan? The application is conveniently online in just a few minutes. You will know in advance whether the desired loan amount is approved and then you can already dream of your financial freedom.