Auxmoney: The online loan broker is so serious
If you are looking for a loan or investment online, you will quickly find the Auxmoney website. This practical tip shows you whether the provider is really reliable and what you need to look out for as an investor and borrower.
How serious is Auxmoney really?
At Auxmoney, money is lent from private individuals to private individuals. Anyone looking for a loan can post their project online for free. If you want to invest money, you can take a look at the numerous projects and, if necessary, support the loan with your own money.
- Auxmoney has been criticized for many years. Above all, the high fees and the rating procedure gave cause for complaint. In the meantime, Auxmoney has revised its concept.
- TÜV Saarland checked Auxmoney and found the service to be safe. Basically, it can therefore be said that you are not ripped off at Auxmoney.
Auxmoney for loan seekers: serious lending
- At Auxmoney you have a chance of getting a loan even with a poor credit rating. As long as you have a regular income, you get a loan even with negative Schufa entries.
- Auxmoney does not grant loans only in the case of an arrest warrant, bankruptcy, openly titled claims or an affidavit. After registering, every interested party must complete a free credit check, which, according to Auxmoney, takes into account over 300 criteria.
- Auxmoney classifies borrowers into different credit ratings. Depending on the credit rating, the interest rate is between 3.95 and 16.2 percent.
Auxmoney as an investment: is that serious?
- According to Auxmoney, the average return on investors is 5 percent. Depending on the creditworthiness of the borrower, a return of 3 to 6.8 percent is possible for investors.
- Investors can start from an investment of 25 euros. This gives you the opportunity to invest in different projects to spread your risk.
- You will automatically receive the loan repayment from Auxmoney in the middle of the month. Auxmoney once deducts 1 percent of the amount invested from the first repayment.
- The loan default rate is 4 percent. In the event of a delay in payment, Auxmoney will take appropriate measures, including enforcement. In the worst case, your money is partially or completely gone in the event of failure.
In the next practical tip, we will show you the 5 best alternatives to Auxmoney.