Lite Lender Bank is one of the country’s largest banks, and then it might just be missing that the bank also offers consumer loans to its customers. There are very many privately owned financial institutions and sub-companies of companies in other industries that offer just this, but if you apply for consumer loans through Lite Lender Bank you know that you are in safe and good hands. The terms for the loans from the Norwegian major bank are also not bad, and the biggest advantage is probably that the consumer loan is unsecured. This means that you spend the money on exactly what you want, while you do not have to pledge or equity to borrow from Lite Lender Bank!
Interest and conditions
With a consumer loan from Lite Lender Bank, you can apply to borrow as little as $ 10,000, or as much as $ 250,000. The terms and interest rates will vary depending on several factors, including how much you borrow, but primarily based on your own finances / income. Therefore, we cannot determine now how good interest rates you get from Lite Lender Bank, but the average interest rate for a medium-term loan is around 16 to 17 per cent. It’s not bad at all, and when the other terms at Lite Lender Bank are good, the bank is a good alternative when you need fast money.
You pay the repayment period yourself, but it must be at least 6 months and a maximum of 10 years. On the Lite Lender Bank website you can easily use a loan calculator where you calculate the repayment time based on the monthly amount. Included in the effective interest rate is also an entry fee of $ 500 (cheap compared to many competitors) and a monthly termination fee of $ 35. At Lite Lender Bank, you can also take out payment insurance that comes into effect if you should have payment problems on the loan.
You can apply for consumer loans through Lite Lender Bank even if you are not a customer / have an online bank in the bank. Of course, it is easiest if you have it, but it is nevertheless problematic for “us others” to apply for consumer loans through the bank. The application form is somewhat comprehensive, but in 10 minutes you should have completed the application and at the same time received an answer to it. In addition, you must meet certain search criteria in order to be granted an application by Lite Lender Bank. This means an age limit of 23 years, and an income requirement where you must earn at least $ 150,000 / year regardless if you are borrowing just a little or a lot of money. You also cannot have payment notes and no active collection at the time of the search.