Please note that the following answer only applies to clients of our Broker offering residing in Germany.
Credit can be applied for quickly and completely digitally (without sending documents by post). The check is usually carried out within a few minutes on bank working days. Since loan amounts are collateralized with the securities held in the securities account, it is not necessary to provide proof of income, for example.
Scalable Capital may transmit personal data to Creditreform Boniversum GmbH, Hammfelddamm 13, 41460 Neuss, Germany, for the legally required creditworthiness check. Data will not be transmitted to Schufa. Further information on the processing of your data by Creditreform Boniversum can be found at: www.boniversum.de/eu-dsgvo.
Interest only accrues when Credit is used and is always calculated fairly only on the amount used for the period used. The repayment of Credit is also flexible. Credit can be repaid in full or in part at any time by paying in or selling securities. There are no obligatory regular repayment installments, as Credit has an unlimited term. You can of course set up a standing order for repayment from your current account to your settlement account.