Frequently Asked Questions
Everything you need to know about loans, applications, and private equity
General Questions
What is Privat Equity?
Privat Equity is an online lending platform that connects borrowers with competitive credit offers. We offer personal loans, car loans, home improvement loans, debt consolidation, and business loans.
How does Privat Equity make money?
We receive a commission from our financial partners when we connect borrowers with loans. This service is free for borrowers – we never charge application fees or upfront costs.
Is Privat Equity safe and legitimate?
Yes, Privat Equity is a licensed and regulated lending platform. We use bank-grade encryption, are fully GDPR compliant, and only work with licensed financial institutions.
Application Process
How long does the application take?
Our online application takes approximately 5 to 10 minutes to complete. You will receive a preliminary decision instantly, and final approval typically takes 24 to 48 hours.
What documents do I need?
You will need a valid form of identification, proof of income (pay slips or tax returns), bank statements for the last 3 months, and proof of address. Additional documents may be required depending on your application.
Will checking my rate affect my credit score?
No! Checking your rate on Privat Equity uses a mild credit inquiry that does not affect your score. A more in-depth investigation will only be conducted when you formally accept a loan offer. Will checking my rate affect my credit score?
Can I apply if I am self-employed?
Yes! Self-employed individuals are welcome. You will need to provide additional documents such as tax returns, business bank statements, and proof of business registration.
What happens if my application is refused?
If your application is refused, we will explain why and may suggest alternatives. Common reasons include insufficient income, a high debt-to-income ratio, or credit problems. You can reapply after resolving these issues.
Rates and Conditions
What interest rate are you offering?
Our rates start from 2.9% APR for qualified borrowers. Your specific rate depends on your credit profile, loan amount, term, and loan type.
How is my interest rate determined?
How is my interest rate determined? Interest rates are based on your credit score, income, debt-to-income ratio, loan amount, and term. Better credit and financial profiles generally receive lower interest rates.
Are the rates fixed or variable?
All our personal loans, car loans, and home improvement loans have fixed rates, meaning your rate and monthly payment never change. This provides predictability throughout the term of your loan.
What loan amounts are available?
We offer loans from €1,000 to €75,000 depending on the loan type. Personal loans go up to €75,000, while specific limits may vary depending on the product.
What repayment periods are available?
Repayment periods range from 12 to 84 months depending on the type and amount of the loan. Longer terms result in lower monthly payments but higher total interest payments.
Are there any fees?
We do not charge application fees. Some loans may have origination fees (usually 1 to 5% of the loan amount), which are clearly disclosed before accepting an offer.
Reimbursement and Management
How do I make my payments?
How do I make my payments? Payments are automatically debited from your bank account on the scheduled payment date each month. You can also make manual payments via your online account.
Can I change my payment date?
Yes, contact our customer service to request a change of payment date. We will work with you to align payments with your revenue schedule.
Can I repay my loan early?
Yes! All our loans allow for early repayment without penalty. You’ll save on interest by repaying your loan before the due date.
What happens if I miss a payment?
Contact us immediately if you are unable to make a payment. We may be able to arrange a payment plan or a temporary deferral. Missing payments can result in late fees and damage your credit score.
Can I increase the amount of my loan later?
Once your loan is active, you cannot increase the amount. However, after several on-time payments, you may be eligible to refinance for a larger amount.
Credit and Eligibility
What credit score do I need?
While we prefer scores above 650, we consider applications from a variety of credit profiles. A lower score does not automatically disqualify you – we assess your overall financial situation.
Can I apply with bad credit?
Can I apply? Yes, we work with borrowers of all credit profiles. Bad credit may result in higher rates or require a co-borrower, but many options remain available.
Do you accept applications with a co-borrower?
Yes, adding a co-borrower with good credit can improve your chances of approval and potentially lower your interest rate.
What is the minimum income requirement?
There is no strict minimum income requirement, but you must demonstrate sufficient income to cover the loan payments. We generally look for a debt-to-income ratio below 40%.
Security and Confidentiality
How is my personal information protected?
We use 256-bit SSL encryption, the same security used by banks. Your data is never sold or shared without your explicit consent, and we are fully compliant with the GDPR.
Who has access to my information?
Only authorized Privat Equity staff and our financial partners (when you accept an offer) have access to your information. We never sell your data to third parties.
How long do you keep my information?
We retain your information in accordance with legal requirements and our privacy policy. You can request the deletion of your data at any time, subject to regulatory obligations.
Special Situations
Can I apply if I am retired?
Yes! Retirees with a pension or retirement income can apply. You will need to provide proof of your retirement income.
Do you offer student loans?
Students with part-time jobs or other sources of income can apply. However, income requirements still apply, and a co-borrower can be beneficial.
Can I use a loan to start a business?
For business needs, we recommend our dedicated Business Loan product, specially designed for entrepreneurs and business owners.
What should I do if I am going through a divorce?
People going through a divorce can apply, but you will need to show your individual income and debts. Joint debts are taken into account in your debt-to-income ratio calculation.