N26 to offer consumer loans with auxmoney tie-up

Source: N26

N26 Credit is a completely paperless way to get a consumer credit loan that allows you to borrow between €1.000 and €25.000.

No matter what you’re borrowing the money for, N26 Credit makes it super easy to receive the money and manage your repayments. We’re pleased with the stories of loans we’ve been able to offer so far, but we’re even happier to announce that we will now be able to offer far more loans than we have before with our new partner auxmoney.

auxmoney is a loan broker based in Germany that we integrated into N26 Credit to be able to offer more people the loans that they need. We selected auxmoney because they also have a simple and paperless system for distributing loans, and are also dedicated to making this process easy. You may even be familiar with auxmoney already if you’ve seen their awesome commercials on TV. Thanks to this collaboration, we can now provide loans for students, freelancers and the self-employed, in addition to regularly salaried applicants.

As far as the actual application process in the app goes, nothing really changes. The easy three-step process to apply, verify and get approval is still totally digital, and neither of us will ever send you envelopes full of paperwork. Repayment periods are still 12 to 60 months with interest rates starting from 3.95% depending on a couple of factors like your creditworthiness. All you have to do is answer a few questions about what kind of loan you’re looking for. We’ll follow up with an instant digital credit check and make an offer where the loan comes directly from us or from auxmoney. If you choose to accept, you can make the contract official with a quick e-signature.

iOS users can start applying for loans covered by auxmoney right away, and Android is coming in the next few days.

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