Loans applied for through Elekti are unsecured consumer loans, meaning you do not need to provide any collateral. You can apply flexibly for different loan amounts depending on your needs. Loan amounts typically range from around €500 up to €50,000–€60,000. You can choose a repayment period that suits your situation – usually between 1 and 15 years – but you can also repay your loan faster if you wish. The right loan term for you depends on balancing the size of your monthly installment with the total cost: a longer term reduces your monthly payment, while a shorter term lowers the total interest paid.
Interest rates and fees: Nominal interest rates typically range from about 4% to 20%. The final rate you receive will be determined individually by the banks, based on their assessment of your financial situation. A strong financial profile and clean credit history help secure a lower rate. Through Elekti, you will always see all costs transparently: every offer includes the Annual Percentage Rate (APR), which covers not only the interest rate but also any arrangement fees, account management fees, and other charges. This way, you know exactly what the loan will cost you per month and over the full term. Our partners do not charge any fees for submitting a loan application or receiving offers – applying is free of charge.
If a lender charges, for example, a setup fee or a monthly account fee, these are always included in the total cost shown in the offer and reflected in the APR. Our service ensures that you get a fair and comparable presentation of each loan offer: comparing interest rates, fees, and other terms is easy when everything is provided in a standardized format.
Other terms: Elekti acts as a credit broker and does not participate in negotiating or arranging loan terms – these are agreed directly between the bank and the applicant. Lenders may require applicants to meet certain basic criteria (such as age, income, and good credit history). Based on your application, you may receive positive offers or be declined. Offers you receive are personal and usually valid for a limited time (typically a few days or weeks). If you do not accept an offer before it expires, it will automatically lapse, but you can always submit a new application later.
Repayment terms are agreed directly with the bank. You can repay the loan early at any time if your financial situation allows – this will reduce the total cost. Any extra costs for early repayment will be outlined in your agreement, but consumer loans can generally be repaid early without significant additional charges.
In summary:
Whether you need a small flexible loan for unexpected everyday expenses or a larger lump-sum loan for something like a home renovation, you can find a suitable option with us on competitive terms. Transparent conditions and fair interest rates ensure you know exactly what you’re applying for – with no unpleasant surprises later. Elekti gives you a strong negotiating position with banks.