Bankile is more well-known in Germany as a publisher of credit cards and rather less than a bank, which also awards installment loans. Nevertheless, many consumers report that they could also gain experience with the Bankile credit. The German subsidiary of the English company is based in Hamburg, but is regulated by the British regulator FCA (Financial Conduct Authority).
The Bankile test shows the strengths, but also the weaknesses of this loan. However, it can already be said at this point that the offer of the British convinced, as the subsequent Bankile credit experience.
- Interest rate of 1.89 percent to 4.99 percent
- Telephone accessibility until 8 pm
- Only a proof of income needed
- Credit decision also by phone
- Installment loan also for self-employed
- Any special repayment possible
There is a need for improvement here:
- Maximum loan amount only 35,000 euros
Bankile holds a special treat for new customers. Irrespective of the amount of the loan and the term, an annual percentage rate of 1.89 percent per annum applies for all new customers, assuming the appropriate credit rating. The telephone availability from Monday to Friday between 8 and 20 o’clock also benefits employees, who can not conduct credit during the day – a circumstance that has a positive effect on the Bankile test. The loan decision can be made by phone or online, only the last proof of income is needed. Self-employed individuals are making positive Bankile credit experiences as there are few banks that issue special loans for this target group. Another positive factor in the Bankile credit experience is the fact that special repayments are made at any time. As an improvement, the credit test shows the low loan amount. This amounts to a maximum of 35,000 euros.
Bankile offers different loans for different customer groups. From the self-employed to the employee
Cheap installment loan than to overdraw the checking account. Consumers can calculate the interest rate advantage directly on the computer. However, the Bankile credit is not earmarked for the account settlement, but is at leisure. New customers benefit from credit-based interest rates as low as 1.89 per cent effective pa Also interesting is the loan program for existing customers. Already starting from 2.45 per cent effective and also credit-dependent, old customers of the house can avail of loans. As part of the VIP program, in conjunction with a corresponding promotion code, existing customers are able to retrieve a desired loan amount without having to re-check their creditworthiness or income. The experience with the British provider shows that the lending business can also be handled extremely uncomplicated.
The Bankile installment credit exists – assuming creditworthiness – from as low as 1.89% pa
Experience with the loan for self-employed
Especially for self-employed, it is usually very difficult to obtain a loan on moderate terms. For many lenders, the uncertain and sometimes not regular income represents a hurdle in the loan. The Bankile sees it differently after the experience. Freelancers and the self-employed alike have the opportunity here to apply for the so-called PROFI loan (an installment loan). All you have to do is submit an income tax assessment. On this basis, the monthly net income is calculated. In addition to the small hurdle to lending, the PROFI loan offers another advantage: The binding to a purpose is eliminated. The borrower can decide for himself if he wants to use the loan for business or private purposes. For public employees, teachers, soldiers and policemen, on the other hand, the ABK Bank speak for themselves.
Students and freelancers a tailor-made loan offer.
While lending for clients with limited access is realized in most cases, customers with a good credit rating also benefit. You get a very low and attractive interest rate, starting at 1.89 percent effective pa The worse the credit rating, however, the higher the effective interest rates. If there is already a negative Private credit entry, the Bankile usually rejects the loan application. The loan request remains free until the conclusion of the contract.
Requirements Bankile credit
- Minimum age 18 years
- Regulated income
- Residence + current account in Germany
- No negative Private credit entry
You may also be interested in this: Credit Requirements: Critical Borrowing Criteria
The Bankile credit can be quickly applied for in just three steps. First, the selection of the loan is made and personal information is provided. Here, the applicant can also optionally opt for a security package to secure the loan. Subsequently, the personal information must be made. These include, inter alia, the marital status and the income situation, the housing situation and the monthly expenditure as well as information on the current address. The third step is to enter the bank details. Although it is not yet clear that the application will be approved immediately, it will be confirmed immediately after submitting the application. Although this is transmitted digitally in the first step, it still has to be printed out and sent to the bank using the PostIdent procedure.
Residual debt insurance is also included as an option. The insurance company behind it is the Cardend insurance, which is also the legal contract partner of the customer. If you have any questions about the contract, the policyholder can still contact the bank or the insurance company directly.
In a calculation example, the cost of residual debt insurance can also be represented. If you take out a loan of 12,000 euros, the additional costs for the residual debt insurance amount to about 1,400 euros. Including all interest, the costs for the insurance then correspond to approximately 1,600 euros. However, a consideration with APR does not take place. The premium amount is added to the loan amount and deducted monthly.
Bankile does not leave its customers alone: a comprehensive guide is also available to answer any important questions
In the event of incapacity for work, the residual debt insurance is paid in full or in part. However, those who can no longer exercise their profession due to mental illness must expect a separate examination. The insurance company may refuse payment in individual cases.
If the worst scenario occurs in the form of the death of the borrower, the residual debt insurance comes to full disbursement. For this purpose, the relatives must present a death certificate in addition to the death certificate. Any resulting costs will not be borne by the insurance and must be provided by the surviving dependents.
If you no longer want to take out the residual debt insurance, you can cancel the contract at any time. For this purpose, a written notice to the insurer. Reasons for termination need not be stated. The unclaimed one-off amount is then paid to the policyholder. However, there are also fees for processing. These amount to 10 percent of the repaid amount.
prematurely. Also in this case, the Bankile experiences are consistently positively influenced.
The Express Credit: Apply today, tomorrow in the account
- Special repayments are possible at any time without any costs.
- If the need for credit rises, it can also be increased at any time within the framework of the household budget. The bundling service of the provider makes it possible to replace several loans with other institutes and summarize with Bankile.
- The Best Price Guarantee grants a right of withdrawal within eight weeks if proof of a more favorable loan exists under the same basic conditions – this also applies to self-employed and freelancers.
Experience with the Bankile loan suggests a comparison with a low-cost syndicated loan. Within the given framework, the loan can be increased at any time or partially or completely repaid without additional costs for the borrowers.
Added to this is the optional risk protection against occupational disability or unemployment. Also the death can be included in one of the security packages. Special unscheduled repayments also enable a premature repayment of the loan and thus save interest.