Personal Loans – Loans from home to home

The personal loan is not given by a bank but by a private individual. There are many conceivable situations in which people are dependent on a loan.

Loans from home to home

Loans from home to home

Whether to carry out necessary repairs to the property, to buy a new car or to make the dream of a long-awaited vacation come true.

This loan does not always have to be issued by a bank, and private individuals are also allowed to use their capital. The Private Loans section may also be of interest if you can not provide collateral to a bank, or fall through the grid for any other reason and the loan request is rejected.

The personal loan is then usually granted interest-free 

The personal loan is then usually granted interest-free 

Often private loans occur within families . Here, the trust between the people concerned is very large and in emergencies, family members help each other. The personal loan is then usually granted interest-free and without formalities .

In the meantime, however, companies have also been set up in Germany that mediate lending between private individuals. Examples include smava and auxmoney. The principle is very simple. A liquid investor seeks a new form of investment for his money and comes across the possibility of private lending.

Rating system for the borrowers

Rating system for the borrowers

The respective borrower, on the other hand, is looking for a favorable loan. Through the intermediary, both sides meet more or less quickly and the business is done perfectly. The platforms also offer various features such as a rating system for the borrowers and the like for the security of the lenders.

To prevent the risk of insolvency , most recruitment agencies have established funds to hedge . This should ensure security for private investors. Nevertheless, personal loans are still scarce in Germany.

About the Author