Credit request for free & without affecting your Bank Learn in a few seconds whether you get a loan or not. Your loan request does not affect your Bank score! Immediate payment in a few minutes By flash transfer, the money will be transferred to your account within 60 minutes. Pay off conveniently in a few and short installments Stay financially flexible and pay back your loan in a few, manageable rates if the repayment period of 30 days is too short.
The installment loan is one of the most popular forms of credit that are given to consumers or private individuals. It is usually given as an annuity loan, which means that the installments payable monthly – also called annuities in the jargon – are always the same. These rates are in turn composed of an interest and a repayment portion, the levels of which vary over time. Installment loans are therefore also considered to be very consumer-friendly, since they can be easily integrated into your own budget planning because of the constant annuities.
Who receives a loan on installments?
Installment credits can be given to all groups of people who prove to be creditworthy. These include, for example, employees, the self-employed, freelancers and students. The respective creditworthiness is determined individually and is primarily based on the regular income of the applicant. Difficulties in lending usually occur when the income is not high enough or other liabilities already exist whose repayment is still pending.
With Person, it is much easier to get an installment loan online than other banks. This also applies if your own credit rating is rated as moderate. Since Person only lends instant loans for relatively small sums, the credit risk also remains manageable – for both the lender and the borrower.
Installment loans compare with an online calculator
The most expensive loan, according to experience, is usually the one that is completed prematurely and without a thorough comparison. The offers on the market are extremely diverse and, depending on the amount and duration, even supposedly small differences in the interest rate lead to far more significant changes in the repayment amount. The most important comparison value is always the annual percentage rate, because this gives information about the actual costs, which are connected with the installment loan. Person therefore offers its customers a free online calculator for installment loans, with the help of which interested people can quickly get an overview of totals, terms and conditions.
Benefits of financing through Person
Person has been active in the credit market since 2012 and was the first provider to establish short-term credit in Germany. As an innovative lender, Person offers its clients the following benefits:
The advantages of Person at a glance
- Fast payout of the installment loan
- Bank-neutral inquiries
- flexible installment payments for loans
- favorable interest rates
- Lending even with medium credit rating
1. Free installment loan calculator
With our free calculator, you can quickly see what kind of cost an installment loan brings. Simply select the loan amount and the duration using the slider. If you like the conditions, you can immediately proceed to the application with a mouse click!
2. Bank-neutral installment loan inquiries
Normally, credit requests to banks are forwarded to the Bank, where the data can be stored for up to one year and negatively affect the Bank score. However, this is not the case with Person, as requests for installment loans are Bank-neutral.
3. Flexible installment
Do you need a little more time to repay your loan than planned? We offer a flexible installment for loans. For example, with our installment option, you can repay the amount in two parts in 60 days.
4. Cheap interest rates on installment loans
Due to the low credit sums and the short maturities you pay very low interest rates on your installment loan at Person. This is how you lend money at a particularly low price and without taking a high financial risk.
Installment loans without purpose
In a comparison of loan offers earmarked installment loans usually fall away, even if they attract with comparatively favorable conditions. Typical examples are real estate or car loans. These are tied to the acquisition of a house or a condominium or to that of a motor vehicle. Since these objects also serve as security for the bank, the purpose of the respective installment loan is limited. On the other hand, loans from Person can always be freely ordered. So you can use the money of your installment loan for other purposes than originally planned.
Flexible repayment in installments with Person:
Since 2012, Person is known for short-term loans. Usually, these will be returned to us within 30 days. However, you also have the option to extend the term, which is especially suitable for slightly higher amounts up to 3,000 euros. If necessary, Person will give you up to 6 months to fully repay the installment loan.
Free loan calculator
Person offers its customers a free loan calculator, which can be combined with credit lines and installment loans. This will save you having to go to the bank to ask for terms and possibly even risk a message to the Bank. Our loan calculator provides you with a binding result on the amount of the loan, the term, the repayment amount and the interest rate. If you are satisfied with the terms of your installment loan, start the application right away!
Calculation example: This costs a installment loan
You are a new customer and need a quick loan over 300 euros, because they can pay back in two weeks. Enter the appropriate details in the free loan calculator, you will receive a repayment amount of 301.63 euros. Interest rates on this offer are low at 1.63 euros. If you need a higher amount at a later date, the interest rates can be determined very quickly. At 900 euros over 30 days results in a repayment amount of 910.43 euros – here too, the interest paid to be very manageable.
In three steps to fast installment loan
1. Select loan amount Simply select the desired amount for your loan and a duration of between 7 and 30 days using the two sliders on our online loan calculator. Immediately you will see the APR, the debit interest and the total amount of your loan. 2. Make a loan application In the next step you will be redirected to a form where you will first provide personal information and then provide sensitive information about your financial situation. This is followed by the determination of the credit line. 3. Confirm identity For verification, we offer two options. The identification via VideoIdent is fast and uncomplicated from home or on the move with a web or mobile phone. At Postident, you can verify yourself at a post office using your ID card.
Requirements for an installment loan with Person
Before a loan agreement is concluded between you and us, it is of course necessary to fulfill certain conditions. Both lawmakers and general credit security of reputable providers demand this. If the necessary documents are available, nothing stands in the way of an installment loan:
Conditions to be met for a loan on installments
- You are at least 18 years old
- Her main residence is in Germany
- You have an account with a German bank and
- have a fixed monthly income of more than 500 euros
Required documents for an installment financing
- ID card or passport
- Copy of the last payroll
- truthfully completed request
Use installment loan to reschedule debt
A debt rescheduling allows you to combine several installment loans into one to make the liabilities clearer or to replace an expensive loan with a cheaper one. A typical example is an overdrawn credit line at the bank. Such loans are extremely flexible, but also very expensive.
Person can help you in such a situation and help to save interest costs. Simply apply for a quick loan equal to your liabilities with the bank. Once the loan has been approved, we credit the amount in your account. Since you are now back in plus, there are no high disbursement interest and you save a lot of money.
Installment credit without Bank
For Person, credit inquiries are basically Bank-neutral. But what does that actually mean? For example, requesting installment credit from a bank or other financial institution will inform the Bank, which may affect your base score. This data will also be stored for one year.
In addition, there are also numerous providers on the market, the installment loans “without Bank” or “despite Bank” offer. However, this does not necessarily mean that the Bank does not notice the credit business, but rather that no credit check is carried out. Customers should rather refrain from such providers, because they are not considered dubious for no reason. Reputable providers always conduct a credit check to ensure the security of both parties – including Person. The fine difference: with Person also persons with a rather weak credit rating receive a installment loan!