4000 dollars credit is still a so-called small loan
If you want to take out a loan of 4,000 USD today, you are spoiled for choice, because a number of banks advertise that they can grant 4,000 USD at the best conditions. But what is really the best offer and what you should definitely pay attention to. We made the comparison for you and took a closer look at 4000 USD over a 24-month period.
Comparison of 4000 USD loan
The top three providers in our comparison include Good Lender, Best Bank and Cream Bank in the first three places. These are the providers who advertise 4000 USD credit with the lowest rates. But is the rate level the only decisive factor? Of course not, otherwise it would be too easy. Let’s look at the acceptance rate. With Good Lender only 45 percent of all inquiries are accepted at all. It is 55 percent at Best Bank and at least 80 percent at Cream Bank that is accepted.
What to consider when borrowing
These loans are approved by the providers as so-called blank loans without the borrowers having to provide any special security. As a rule, it is sufficient to have a clean Credit Bureau information, to be able to prove a permanent position with regular income and to have a correspondingly high freely disposable income.
Nevertheless, 4000 USD is an amount that brings with it a 24-month term a rate that is just under 200 USD. This amount has to be raised every month. If the rate is too high with a 24-month term, the comparison for a loan of 4000 USD can also be made with a different term. It is not automatically the case that the best providers are always the same banks. Who makes the best offer depends largely on the loan amount and the desired term.
Please note that the offers are often offers with interest based on creditworthiness. This means that the advertised low interest rate is usually not the one that you have to pay in the end. A look at the representative example is usually sufficient here if you want to orient yourself. It is quite possible that a provider who cannot be found in places 1 to 3 will end up with the cheapest loan offer. It is then important to have a personal offer prepared in advance. Only when you have two or three in your hands can you compare again. Despite the effort, the comparison is worthwhile, because it saves money in this way.