The credit portal Smava expands its negative interest loan significantly: The negative annual interest rate of minus 0.4 percent is valid until 7 October for a loan amount of 10,000 euros. This is the case in Germany for the first time. In 2017, we were the first provider in Germany to introduce a negative interest rate on installment loans https://www.paydaynow.net/installment-loans-no-credit-check/ for a loan amount of € 1,000.
Alexander Artopé, co-founder and CEO of Smava
“More and more consumers are using Smava because they pay us significantly less for their credit than they do at their house bank. For example, Smava has become one of the most important contact points for online loans in Germany. Other providers are now geared to us and also offer negative interest rates. More and more consumers are benefiting from cheap online loans, “says Alexander Artopé, CEO of Smava.
Rent 10,000 euros, repay 9,959 euros
The negative interest rate of minus 0.4 percent applies to a loan of EUR 10,000 with a maturity of 24 months. That means: “I borrow 10,000 euros and only have to repay 9,959 euros,” said Artopé. “At this point, consumers can not borrow 10,000 euros anywhere else in Germany.” Loans can be applied for by employees, workers and civil servants with at least a good credit rating. The negative interest loan is offered exclusively by Smava as “Kredit2Day” in cooperation with the lending solarisBank AG. These are the loan terms in detail.
Credit application check is SCHUFA-neutral
In Germany, bank loans may only be disbursed after a thorough and positive credit check. This test is therefore carried out nationwide in a comparable manner. This means that potential creditors must provide information about their person as well as their finances. In addition, a SCHUFA information about them is obtained. In the case of the Smava negative interest loan, the lending solarisBank AG solicits this information. For this purpose, she makes a “request credit terms” to the SCHUFA. Inquiry Credit terms do not affect the credit applicant’s SCHUFA score.
Smava continuously lowers interest rates to the benefit of more and more borrowers
In 2015, the credit portal Smava was the first online provider to launch a zero-percent loan in Germany. Shortly thereafter, other providers offered such a loan. The same can be observed with the negative interest loan. In 2017, Smava brought it to market as the first provider in Germany. Since February 2018, other providers offer similar, by also offering a negative interest loan. “More and more consumers are benefiting from low-interest loans,” says Artopé.
Smava is growing very fast and will provide loans of over 2 billion euros in 2018
From year to year Smava establishes itself more strongly as one of the central online centers for installment loans in Germany. This explains why the volume of credit brokered by smava is growing rapidly. In 2017, smava brokered loans with a volume of 1.2 billion euros. In 2018 it will be more than 2 billion euros.