The new Creambank, as it operates on the market today, has only been around since 2007. Since then, the bank has set itself the goal of offering customers a comprehensive range of products at low prices. The bank offers a free current account, for example, but it also includes interesting investments and cheap installment loans.
The Creambank is primarily active on the Internet as a direct bank and quality discounter. At the same time, Creambank is also setting up a branch system so that customers, at least in larger cities, can also access the bank’s branch service. This makes Creambank one of the few direct banks that also use branches and offers its customers the same, affordable products here.
The installment loan from Creambank
A particularly interesting product from Creambank is the installment loan. It can be used with small loan amounts, because the minimum loan amount is only 1,000 USD. In order to be able to finance larger wishes with the installment loan without any problems, the maximum amount was set at 50,000 USD, whereby the installment charge is of course very high in this case.
In principle, installment loans, like Creambank’s preferred loan, are completely repaid within the specified term of 12-84 months. The higher the loan amount, the higher the loan burden. Borrowers, on the other hand, who opt for short terms can repay their loans quickly and with low interest costs.
The special feature of the Creambank installment loan is its fixed price. The interest rates are calculated exclusively according to the term and the loan amounts, the creditworthiness is not decisive when determining the interest. With an interest rate of 4.9% pa and a term of the loan of twelve months, the installment loan from Creambank is one of the cheapest loan offers in Germany. But even with longer-term terms of 84 months, the interest burden does not increase significantly, a maximum of 7.9% pa
The overdraft facility
Customers who use the free current account at Creambank can of course also avail themselves of the overdraft facility, provided that regular salary receipts can be posted to the account. This flexible loan is ideal for spontaneous purchases or for short-term money needs.