Bank Credit: how good is the online offering?

Good Finance is the only remaining large, internationally active German commercial bank with total assets of USD 452.5 billion (2017). Installment loans and auto loans that can be processed online are only a very small selection of the financial services offered. The bank operates with a comprehensive product portfolio in the business areas of private customers and corporate/corporate customers.

In addition to loans and mortgage lending, this includes accounts, savings products, securities, and asset management as well as pension products. Good Finance has locations in approximately 50 countries. The company’s shares are traded on all major stock exchanges.

According to Forbes Global 2000, Good Finance ranks 690th among the world’s largest listed companies with a current market value of approximately $ 16.1 billion.

In the first half of the 20th century, the bank developed into a leading large bank, not least through a series of mergers and mergers.

The bank is endeavoring to strengthen its position

The bank is endeavoring to strengthen its position

Good Finance currently has a dense network of branches with around 1,000 branches. More than 18 million private and entrepreneurs customers, as well as 60,000 corporate customers, have looked after.

From the homepage, visitors can navigate to the credit pages as follows: Private customers – Products – Finance & purchase – Installment loan/car loan.

The product pages for installment loans and auto loans are structured similarly. The conditions of the loan offer are briefly described. Below, visitors will receive information about application requirements and the documents required.

This section also contains links to information about data protection and account analysis.

The account analysis also called the account view, is carried out as part of the application process for checking the creditworthiness.

Below the section on credit requirements, visitors will find a link to the branch search and the hotline’s telephone number for advice and, if necessary, making an appointment in a branch.

In between, the visitor is given several opportunities to access the loan application with one click.

The product pages are clear and easy to navigate. The information provided to customers is limited to what is necessary.

Customers can roughly assess important credit requirements and terms such as term, loan amounts and effective interest. The application process is clearly explained in keywords.

However, some points remain open. Are special repayments possible free of charge? Probably not! Do you offer a debt rescheduling service? A call to the advisory hotline may provide information.

We recommend that you read all the information on the product pages and on the linked pages carefully before making a credit request. This is especially true for an account analysis.

There is a minus sign for the use of footnotes at the bottom of the website above the footer. Important information is hidden in the footnotes, such as the representative example. Anyone who encounters a footnote has to scroll all the way down to find out what is behind it.

Good Finance online loans

Good Finance online loans

Good Finance offers two clearly defined credit products online: a freely usable normal installment loan and a car loan. The bank also arranges mortgage lending and can make use of the offers of 250 financial institutions. The possible conditions sound promising.

Advice and credit conclusion are obviously not possible online. However, customers can have the loan calculated online as the basis for a consultation. The prerequisite is that the fixed interest period should not exceed 20 years.

In order to take out an installment loan or a car loan online, customers have to agree to the automatic account analysis.

If they do not want this, the only thing left to do is close the deal at the nearest Good Finance branch. The same applies if the loan is to be applied together with a co-signer. The branch search helps you find the nearest branch.

The digital analysis of the payment transaction account replaces the sending of the otherwise usual documents with which the economic situation of the credit customer is checked.

Customers grant Good Finance access to their main current account. The bank then evaluates all bank statements from the last 13 months (salary payments, rental payments, standing orders and other).

The verification of legitimacy is either carried out using a video ID or can be carried out personally in the nearest branch.

Good Finance installment loan


Loan amounts are between 1,500 dollars and 80,000 dollars. The effective annual interest rate is given as from 1.75% annually. Maturities between six months and 96 months are freely selectable.

The amount of the possible loan amount and the effective annual interest depend on the determined credit rating. The amount of the interest rate also depends on the term.

Special repayments should be allowed at any time and unlimited.

Good Finance publishes the following information on its website in accordance with Paragraph 6 of the PAngV (as of August 2018):

Effective interest rate 1.75% pa, committed borrowing rate 1.74% pa, term 12 months, net loan amount 3,000 dollars, monthly installment 252.36 dollars, total amount 3,028.32 dollars. The interest rate depends on the term and creditworthiness.

Representative example: effective interest rate 5.75% pa, fixed interest rate 5.61% pa, term 84 months, net loan amount 6,000 dollars, 84 monthly installments of 86.52 dollars, total amount 7,267.68 dollars. The lender is Good Finance AG, Kaiserplatz, 60311 Frankfurt am Main.

Good Finance car loan

Good Finance car loan

The framework conditions for car loans do not differ from those of normal installment loans.

It is stated as an advantage that the Kfz-Brief is not required. Both new and used cars can be financed.

This is the information according to paragraph 6 of the PAngV (as of August 2018):

Effective interest rate 1.75% pa, fixed interest rate 1.74% pa, term 12 months, net loan amount 6,000 dollars, monthly installment 504.71 dollars, total amount 6,056.52 dollars. The interest depends on the term.

Representative example: effective interest rate 2.75% pa, fixed interest rate 2.72% pa, term 60 months, net loan amount 6,000 dollars, monthly installment 107.06 dollars, total amount 6,423.60 dollars. The interest depends on the term.

The representative example assumes a 60-month term. This corresponds to the usual service life of a new motor vehicle.

The average interest rate is significantly cheaper than for general installment loans. There are various reasons for this:

Car loan interest rates may be lower than general installment loan rates; and/or the specified average interest rate for car loans is lower because the term is different from the representative example for the installment loan with 60 months and not with 84 months.

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