The offer of online installment loans is enormous. So it is no wonder that many borrowers find it difficult to pick the right provider. In our large instant loan test, we compared numerous loan offers and present the test winner.
Installment credit Test winner: The most important thing at a glance
- Effective annual interest rate of 3.79 percent
- Loan between 5,000 and 50,000 euros possible
- Maturities are 12 to 84 months
- No processing fees
- Free special repayments possible
Installment Loan Test: What makes a good loan offer?
For many borrowers, the interest rate is an important factor in choosing a loan. A low interest rate is therefore crucial for a good deal, because no one wants to pay the actual loan even huge sums of interest. In addition, however, other aspects should also be considered. Even though many providers are now waiving a processing fee, there are still credit institutions here and there that charge for processing the loan. Furthermore, it should be possible to trigger the loan before the expiry of the agreed term. A competent contact person who provides advice on questions rounds off a good offer.
We present the test winner Metabank
Metabank was founded back in 1965. The company is a stock corporation and is headquartered in Frankfurt am Main. The focus of the bank is not only on savings and asset accumulation, but also on loans. Therefore, the company provides not only the installment loan, but many other credit options. Variable interest rates and loan amounts as well as attractive terms make up the offer.
The regulation is carried out by the German Federal Financial Supervisory Authority (BaFin), and as a voluntary member of the Deposit Guarantee Fund of the Federal Association of German Banks (BdB), Metabank offers its customers additional security.
This was the test winner convince us
Our online installment credit test has determined the provider Metabank as the test winner from a variety of credit companies. Below is an explanation of why the company has more than earned the title as the best provider of online installment loans. As mentioned earlier, the level of the interest rate is very significant. The Metabank can score with very attractive conditions at this point. The annual percentage rate is 3.79 percent. The percentage that ultimately earns interest depends on the creditworthiness of the customer. The better this is, the lower the final annual interest rate will be.
The installment test winner allows his clients to borrow between 5,000 and 50,000 euros and the terms extend over 12 to 84 months. The application for the loan amount is uncomplicated online or by phone. In the case of an online application, the decision about the authorization is made immediately; in the case of a telephone application, borrowers receive a mail within a few days. If the loan has been approved, the amount will be transferred as soon as possible. In our installment loan test, we found that Metabank does not charge any fees for processing the loan application. Furthermore, free special repayments are possible at any time.
The payment date for the loan amount is freely selectable. In addition, the favorable interest rates are permanently secure and borrowers can hedge their loan on request. The test showed that a installment loan for freelancers is possible. This distinguishes the Metabank from many competing credit institutions. The purpose of the installment loan does not have to be proven, which provides borrowers with significantly more flexibility.
We were particularly impressed by the customer service of Metabank. The contact is possible by phone around the clock. During this time, customers are available to competent and friendly employees for all questions and suggestions concerning the loan. In addition, the Metabank offers a callback service. The customer support can of course be contacted by e-mail. Metabank provides a detailed and clear overview of the loan on its website. But if you want more information, videos are available that detail everything about the loan.
Our conclusion: convincing all along the line
If you are looking for an online installment loan on good terms, then Metabank is the place to go. The annual percentage rate of charge is low and depends on the creditworthiness of the customer. The purpose of the installment loan does not have to be specified, which provides for even more flexibility of the borrower. On a processing fee, the provider completely waived and with the right of withdrawal of four weeks ahead of many other providers. The professional customer support advises customers competently with questions and concerns and completes the offer of Metabank.