Details and often asked questions
1. Can we get a loan even though my bank has refused to give me personally that loan?
There are lots of explanations why banks refuse loans. Sometimes, the mortgage quantity is too low for them. Whether one is given financing of Euros 5,000 or 50,000: The processing prices are exactly the same for a bank. But, when you look at the case that is second the lender earns 10 times the maximum amount of.
As a result, numerous German banking institutions do not grant loans below Euros 2,500. At Auxmoney, one could already get loans from Euros 1,000. The payment is all about Euros 23 to 30 each month.
Loans from Euros 23 every month
Another explanation could possibly be A schufa”-rating that is“bad research business). Banking institutions rely upon many cases into the repository “Schufa”. Nevertheless, the Schufa will not understand sufficient about individuals, who reside in Germany since just a limited time or are fairly young. Few information during the Schufa end in a ranking that is bad.
Auxmoney makes use of the Schufa primarily as an exclusion criterion. Consequently, then no loan will be granted if the Schufa states that someone is in bankruptcy. For the development regarding the Auxmoney-Score, other bureaus, including the Credit Reform, Arvato and Burgel, have actually a greater weighting within the creditworthiness score. (daha&helliip;)