Borrowing options have become so diverse these days that many consumers have no idea how and where to borrow anywhere. Because many still assume that the house bank is the best contact for financing.
Great loans can also be found in many other places. Just as safe and as flexible as with the house bank. Only cheaper or also suitable if, for example, the borrower’s Credit Bureau is not quite as optimal and the house bank therefore rejects a loan. Just like the loan from Liechtenstein.
A loan from abroad – is that actually possible?
Anyone who does not get a loan through traditional banks and savings banks because negative entries have accumulated in the Credit Bureau quickly becomes desperate and sometimes gets involved in dubious and far too expensive loan offers. Because many then think that only a credit broker can get a loan under these conditions. But this is not the case. In such a case, a loan from abroad, which can come from the small but financially very solid Principality of Liechtenstein, is much better than a loan through an intermediary.
What many do not know is that as a German citizen, you are also allowed to take out a loan abroad. Not every foreign bank offers this option. But the banks that make this possible have been doing this for several years and are enjoying increasing popularity. Because a foreign loan such as a loan from Liechtenstein has the advantage that Credit Bureau does not play a role in borrowing and therefore cannot be cited as a reason for rejection.
Why is Credit Bureau not asked for a loan from Liechtenstein?
Credit Bureau as an institution was set up to give companies in Germany the opportunity to check the economic situation of other companies in Germany and of private individuals before placing an order or granting a loan.
The banks and savings banks naturally use this option briskly and do not grant any loans without which Credit Bureau was consulted in advance. The same applies when opening an account, applying for a credit card, signing a telephone contract and in many other areas of our lives.
However, foreign companies and banks have no access to Credit Bureau’s data, as they do not operate from Germany. In the case of a loan from Liechtenstein, the Liechtensteiner Bank cannot therefore check which data is recorded in the Credit Bureau and what quality it is. A great advantage for all those borrowers who have problems with Credit Bureau.
Which bank grants the loan from Liechtenstein?
Even though Liechtenstein is only a very small country, it is known for its many banks, which at least maintain a mailbox there. The Liechtenstein loan is not granted by all Liechtenstein-based banks. Rather, it is Lite Lender that is responsible for this offer. It has been successful on the market for many years and specializes in foreign loans. The offer was designed in such a way that it is not too extensive, but is fair and definitely recommendable.
What can be expected with a loan from Liechtenstein?
In general, it can be assumed that a foreign loan is only ever available as a small loan. This also applies to the loan offer that Lite Lender has for foreign customers. There are two different loan amounts to choose from. Once 3,500 USD and once 5,000 USD. These two loan options can be used if a fixed income can be shown, the main place of residence is in Germany, a minimum age of 18 and a German reference account.
If so, you can look forward to an effective interest rate of 11 percent on a small loan from Liechtenstein as a borrower. Even if this is somewhat higher than the effective interest rate that is offered by German banks, it is still significantly below the offers that, for example, credit intermediaries or private lenders require.
You have 40 months to repay the loan. It begins two months after the money has been paid out. A cash payment is not possible. In addition, the loan is repaid in consistently high installments. You do not have to travel to the small Alpine country to take out a loan from Liechtenstein. On the bank’s website you can find not only all information about the loan offer, but also all documents and forms that are required for the application.