How to borrow - FAQs

All you need to know about how to get a loan at PeerCredit.

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13 articles in this collection
Written by Patrik Kachyňa

How does borrowing at PeerCredit work?

We directly connect people who want to invest with people who want to borrow, so everyone can potentially get a better rate.
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Written by Patrik Kachyňa
Updated over a week ago

How do I apply for a loan at PeerCredit? (step-by-step)

Apply for a loan in less than 10 minutes, get the loan offer in 24 hours if you are eligible.
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Written by Patrik Kachyňa
Updated over a week ago

At what interest rate can I get a loan?

The interest rate of a loan depends on your credit score. We provide loans from as little as 5.5% APR.
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Written by Patrik Kachyňa
Updated over a week ago

How much can I borrow and for how long?

We provide loans to eligible borrowers from £100 to £10,000 for up to 5 years. The final conditions depend on the individual conditions.
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Written by Patrik Kachyňa
Updated over a week ago

How do I submit a copy of my identification documents when applying for a loan? (step-by-step)

To make sure it’s really you, we will need to verify your identity. You will be asked to upload a copy of your identification documents.
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Written by Patrik Kachyňa
Updated over a week ago

What documents do I need to submit when applying for a loan?

We require only necessary documents that we need to assess your loan application. You will submit everything online.
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Written by Patrik Kachyňa
Updated over a week ago

How do I submit my bank account statements when applying for a loan? (step-by-step)

To properly assess your loan application, we will ask you to upload your bank account statements for at least the last 3 months.
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Written by Patrik Kachyňa
Updated over a week ago

What are the quality requirements for my bank account statements?

Please follow these instructions to provide us with full and readable bank account statements.
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Written by Patrik Kachyňa
Updated over a week ago

What are the fees for the loan provision?

We charge a fair loan provision fee for our support and services that depends on the loan amount and duration.
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Written by Patrik Kachyňa
Updated over a week ago

What is the Provision fund contribution?

To help lenders protect their invested savings, we operate a provision fund. As a borrower, you will contribute to the fund.
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Written by Patrik Kachyňa
Updated over a week ago

Can I repay the loan early?

You can fully or partially repay the loan anytime for with no additional charge.
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Written by Patrik Kachyňa
Updated over a week ago

What is ‘APR’?

The annual percentage rate (APR) represents the annual costs of the loan including lender interest and all fees.
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Written by Patrik Kachyňa
Updated over a week ago

What if I am late with payments?

Please contact us immediately if you are struggling to pay your loan in time. Late payments are subject to additional fees.
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Written by Patrik Kachyňa
Updated over a week ago