Instant Consumer Lending / ProductBack
Which are the advantages of this loan?
It is a very simple and time-saving way to apply for the desired loan via your mobile phone or desktop browser. It is also completely paperless, fully digital and can be done in up to seven minutes.
Will my credit rating / scoring be checked?
We are legally obliged to check the creditworthiness of the applicant. This check is always carried out with every loan application.
Will solarisBank request my Schufa?
Yes, but the request to the Schufa is a pure condition request and thus completely scoring neutral, since the result of the credit request is not conveyed to the Schufa. The deletion of this request occurs automatically and is not visible to other banks. Therefore, having a credit rejection has no negative impact on you.
Can I apply for a loan as a freelancer?
Unfortunately not. A prerequisite for applying for a consumer loan with solarisBank is the receipt of income from gainful employment.
Is there a minimum amount I should apply for?
The minimum loan amount is 1.000 €.
Is there a maximum loan amount?
The maximum loan amount is 50.000 €.
Who can apply for a consumer loan?
All employees, workers, civil servants and pensioners can receive the consumer loan if they fulfill the following conditions: They must have a permanent residence in Germany and be over 18 years old. Each applicant must be able to demonstrate a positive credit rating and identify themselves before entering into a credit agreement.
Can I add a second borrower for the loan application?
At the current time, it is not possible to consider a second borrower within the loan application process.
How long does the process of applying for a loan take?
The application process for one loan takes on average less than 10 minutes.
Do I have to provide additional documents to prove my eligibility for the loan application?
This is one of the advantages of the solarisBank consumer loan, that it relies only on the account check and the data from the credit bureaus. No additional documents need to be submitted by you.
What does "Kontocheck" / account check mean?
Being a fully licensed bank, solarisBank has to assess the risk of a loan and decide whether a loan can be approved on an individual basis. For this purpose, solarisBank uses the information in the salary account of the applicant to automatically get an overview of your financial situation. This is a much more convenient and faster option for the loan applicant than copying, scanning and emailing bank statements, which entail the same information.
How does the "Kontocheck" / account check process work?
The “Kontocheck” / account check analyzes your salary account information to provide an overview of your finances. To do so, you have to enter the access data for your salary account while applying for the consumer loan. Your account information will not be saved but only used for this one-time data query.
How fast will the loan be paid out to me?
The moment of payment depends on the identification process you choose. In the videoident process, this process can be completed quickly, which means that the payment can also be fast. On average, the payout can already be given on the account between three and eleven working days.
What should I do if my bank account has changed?
Please contact us with an e-mail to firstname.lastname@example.org. We will then send you the form for a new SEPA direct debit mandate by e-mail.
What does a SEPA direct debit mandate mean?
A SEPA direct debit mandate is the legal justification for the collection of SEPA direct debits. A mandate includes both the payer’s consent to collect payments by SEPA direct debit to the payee and the order to the own payment service provider to redeem the payment.
How can I cancel my loan agreement?
You can revoke the credit agreement within 14 days after payment. The revocation must be made in text form. The easiest way to do this is by e-mail. Send your revocation to the e-mail address: email@example.com
Can I apply for loan even if I do not receive any income?
No. Only if you can repay the loan in monthly installments, you can and should take a loan.
How do I pay my loan installments?
The installments are deducted directly from your account by direct debit mandate each month.
Why was my loan application rejected?
The credit decision is made on the basis of all the data available to us and is generally not based on a single factor but on an assessment of your overall economic situation. Please make sure that the current account used for the application is an individual account on which your regular salary is paid.
What can I do if I need the exact amount of the credit balance for an earlier repayment?
Please send us an e-mail to firstname.lastname@example.org adding the date when you want to pay back the loan. We will calculate the balance and send it to you by e-mail.
Can I reimburse the loan earlier?
Unscheduled repayments are possible at any time free of charge. If the loan is repaid in full before expiry of the contractually agreed term, an early repayment penalty will be payable: 0.5% of the amount prepaid with a remaining term of less than 12 months, 1% of the amount prepaid with a remaining term of more than 12 months, up to a maximum of the borrowing interest that the borrower would have to pay in the period between the early repayment and the agreed repayment.
To which account can I transfer special payments?
Please send this request to email@example.com. We will send you an e-mail with the correct account number.
How does the back/reversed settlement of the loan work in terms of payment?
The loan already disbursed, plus the interest to be paid for the period of use, must then be repaid to solarisBank within a maximum of 30 days from the date of revocation.
When does the customer receive feedback on successful loan approval?
As soon as the KYC process has been successfully completed, the customer will be informed about the credit decision via e-mail within one day. The duration of the KYC process depends on the applicant as (s)he has to go through the videoident process.
I have not yet received a response. What could be the possible reasons for this?
Either the identification process has not yet been completed or the credit check has not yet been completed. If you do not receive a reply from us within one banking day, please feel free to contact us by e-mail at firstname.lastname@example.org Please also check the spam folder of your e-mail inbox.
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