Good Finance is a lender that offers its customers to borrow from USD 3,000 and up to USD 25,000. As this is the question of a unsecured loan, they have therefore chosen to focus on the segment with smaller private loans. The maturity is thus also in line with other similar loans as it is currently at 1 – 5 years.
When it comes to interest, it is quite high which is common among this type of loan. Regardless of the size of the loan you take, the interest rate is at the same level. If you wish, you can pay extra or redeem the loan at any time without extra costs.
If you wish, you have the opportunity to take advantage of two payment-free months per year. However, you may not have a free month during any of the first four months after you obtained the loan. Furthermore, there must also be four months between the different payment-free months. Another prerequisite is that you have handled your repayments according to the plan.
Important to know about these months is that you do not pay anything but that debt will grow during this time. The interest you would have paid for the month will be put on the debt and the loan will be extended by one month.
Conditions for borrowing from Good Finance
If you want to borrow money from Good Finance, you must first have turned 20 or do so during the current calendar year. You should then have a fixed income that is deemed to be large enough to handle the repayments. This is determined when the credit check is performed.
When it comes to payment remarks, it is possible to borrow even though there are active ones. However, the debt at Good Credit must be repaid and you as a borrower must not have debt relief, be bankrupt or under trustee.