Good Finance is a smaller bank with its headquarters in Hamburg and a few branches scattered across Germany, including Berlin. The financial service provider was founded in 1969 to handle the merchandise credit business of Otto Shipping. In 1976, the bank, originally designed as an installment bank, received a full bank license.
Good Finance primarily offers credit cards. In addition, she advertises an installment loan online in cooperation with Good Credit Bank and offers an owner loan.
In addition to credit products, savings products (overnight money and savings certificates) are also offered, which can be requested online or “managed” online.
Another line of business is the financing of goods
The homepage is dominated by the current online main product, the Visa credit card. Finally, the navigation also takes customers to the two loan offers, the direct loan, and the owner loan.
The individual product pages offer a quick overview of the conditions. If necessary, the information according to the consumer credit directive is listed relatively clearly.
Direct contact is possible by phone (via hotlines), by email or in a branch. The website has a FAQ section arranged by-product, in which some essential questions are addressed. As far as the loans offered are concerned, the conditions for granting are detailed.
Otherwise, the information is somewhat superficial. It is therefore advisable to use the callback service or the hotline to obtain more detailed information.
Good Finance loans
There are two loan offers on the bank’s website: the direct loan, a conventional installment loan and the owner loan, a loan for property owners.
The bank offers its advertised credit products and also dealer loans through sales partners. Sales partners are provided with a number of tools.
In this way, they can offer their customers a preliminary, immediate decision. For this purpose, a preliminary credit check is carried out according to the so-called traffic light principle based on a Credit Checker request and a bank’s own scoring system.
The installment loan is not a separate loan offer. Good Finance apparently brokered a loan product from Good Credit Bank. Visitors are redirected to the website of this bank in order to get the loan application.
Loans between USD 2,500 and USD 50,000 are brokered. The terms are between 12 installments and 84 installments.
Good Credit Bank offers a debt rescheduling service. Loans without Credit Checker will not be arranged. In addition, there can be no negative characteristics at the Credit Checker or Info score.
Self-employed and freelancers are not eligible to apply. All other requirements are described in our article about the Good Credit.
Submitting a loan application via the Good Finance website is actually superfluous. It seems to make more sense to contact the Good Credit directly or, even better, to use a credit comparison that contains offers from the Good Credit Bank.
The owner loan is intended for apartment owners. Home loans are also known as home loans.
Loan amounts between USD 5,000 and USD 60,000 are offered. The long terms of up to 180 months are interesting. The loan is not necessarily earmarked for residential investments.
It can also be used as a general-purpose loan for any other purpose. In addition to the usual purchases, larger debt restructuring campaigns are particularly important.
The loan is offered with a 5-year and a 10-year fixed interest rate
In addition to the fixed interest rate, the extent to which the loan should not only be used for residential purposes but also for consumption purposes is obviously decisive for the interest rate. If the “consumer debt rescheduling” is higher than 50%, this has a negative effect on the annual percentage rate.
Early repayment of the loan is obviously only possible after a special agreement and against the prepayment penalty.
Suspension of repayment is not expressly provided for, but it can perhaps be agreed afterward in the event of financial bottlenecks. Credit increases are not excluded after prior contact. However, another credit check will very likely be carried out.
No further information is given on the website regarding the application requirements. The owner loan cannot be applied for online. A prerequisite is contacting us by telephone or in writing.