The end of the expensive Dispos: smava brings cheaper alternative on the market

According to the German Bundesbank, consumers in Germany overdrawn their accounts last year with a total of over 380 billion euros. On average, they paid an effective interest rate of 8.5 percent. The portal even speaks of up to 12.63 percent. The overdraft is therefore extremely expensive. Even though banks have been able to lend money for as little money as they have never done for years. After credit privatization (Privat-Zu-Privat-Kredit) and Kredit2Go (fully automatic instant loan), the credit portal Smava now goes on the offensive again with the new product Kredit2Day – this time in cooperation with solarisBank. Consumers can now and permanently via borrow money for an annual percentage rate from 0.69 percent. The money will be paid immediately after the contract.

Alexander Artopé, co-founder and CEO of smava“Kredit2Day is a real alternative to the credit line. It’s transparent, fair and cheap, “says Alexander Artopé, CEO of Smava.




4 Euro instead of 86 Euro – Kredit2Day is up to 96 percent cheaper than credit

According to the Bundesbank, anyone who pays their own account effectively pays 8.5 percent interest. With a loan amount of 1,000 euros and a term of 12 months, this results in interest costs of 86.18 euros. Who lends the 1,000 euros for the same period on, pays in the best case 3.73 euros (annual percentage rate: 0.69%), in the most expensive case 30.87 euros (APR: 5.80%) in interest. *


Overview of credit terms


Net loan amount: 1,000 – 35,000 euros

Duration: 24 – 84 months

Annual percentage rate: 0.69 – 5.80 percent

Zun Kredit2Day>

A permanently available alternative to the credit line

Credit2Day is permanently available. It can be used by employees and civil servants with sufficient credit standing for between 24 and 84 months. Special repayments, as well as premature repayment, are possible at any time and free of charge. “Through fully digital and automated loan processing, payment will take place immediately after the electronic signature,” says Marko Wenthin, chief commercial officer and co-founder of solarisBank. This makes the Kredit2Day, at a lower cost, flexible as a credit line.


Consumers benefit from fintechs and the digitization of financial products

The credit portal Smava and solarisBank belong to a new generation of financial service providers, so-called fintechs. Purple Payday Loan offers typical financial products such as loans. However, unlike traditional financial institutions, fintechs primarily use digital processes and technological innovations for their provision and processing. Consumers benefit from this development: with the help of fintechs they usually get faster and cheaper to their desired financial product.


* Repr. Ex. In accordance with § 6 PAngV: 1,000.00 € net loan amount, term 12 months, 0.69% off. The annual interest rate, 0.69% fixed interest pa, 12 mtl. Installments of € 83.64 each, total € 1,003.73. solarisBank AG, Anna-Louisa-Karsch-Strasse 2, 10178 Berlin


* Repr. Ex. In accordance with § 6 PAngV: 1,000.00 € net loan amount, term 12 months, 5.80% eff. Annual interest rate, 5.65% fixed interest pa, 12 mtl. Installments of € 85.91 each, total € 1,030.87. solarisBank AG, Anna-Louisa-Karsch-Strasse 2, 10178 Berlin

More purchases and with prices about to touch the ground




 . It is the summary of what the statistics of the General Council of Notaries show. The sale of flats goes up and the price drops somewhat, although the latter has a “trap”, because in reality it only lowers the price of the houses but not that of the flats.

The sale of homes was in August in 17,045 transactions, representing an interannual increase of 13.9% , which is accentuated to 20% in the corrected series of seasonality. According to their data, the average price of homes has fallen by 8.6% year-on-year in the same month.

The monthly average of operations is of 28.023, superior to the 23.589 of a year ago For the notaries, the rebound of the purchase of housing in the last months comes explained, in part, by the normalization in the number of operations after the completion of the deduction for home purchase in Personal Income Tax at the end of 2012, but also reflects the stabilization of monthly sales . Thus, between January and August of this year the monthly average of operations stood at 28,023, higher than that registered in the same period of the previous year (23,589).

By type of housing, the sale of flats showed an interannual increase of 14.2% , lower than the expansion experienced by free-price flats (16.2%). This increase in flats transactions is due to the expansion of sales of second-hand flats (22.6%), since the purchase of new free flats contracted by 17% year-on-year. The sale of single-family homes, on the other hand, showed a year-on-year growth of 12.7%.

As for the average price, the square meter of homes purchased in August was 1,111 euros, which represents a year-on-year fall of 8.6% , mainly due to the fall in the average price of single-family homes (-25.8 interannual%).

In the case of the average price of flats, the opposite effect occurred, as they increased by 0.4% , similar to the revaluation of free-price flats, up to 1,231 euros per square meter (0.3%) . Among them, the price of second-hand flats was 1,200 euros (0.8% year-on-year) and that of new flats of 1,475 euros per square meter, 2.3% more.

More mortgage credit

The notaries point out that the evolution of the mortgage market for the acquisition of housing also reflects the improvement observed in the real estate sector, by registering even an increase in the credit as a whole in seasonally adjusted terms. Thus, the number of new mortgage loans made in August was 13,060 , which represents a year-on-year drop of 0.7%, although the calendar corrected series represents an increase of 5.2%. The average amount of such loans was 128,485 euros, which represents a contraction of 2.2% compared to August of the previous year.


The average amount of housing loans was 103,630 euros. On the other hand, mortgage loans for the purchase of a property amounted to 28.5% year-on-year in August (7,193 credits), mainly due to the increase in the granting of loans for the acquisition of a home (+ 31.5%), while for the rest of the properties an advance of 2.2% was observed.

The average amount of loans for the acquisition reached 114,277 euros (-2.6% year-on-year), while in the case of housing the average capital was 103,630 euros (-8.9% year-on-year) and for the rest of real estate, the credit averaged 230,080 euros (+ 53.7% year-on-year).

Finally, the percentage of purchases of homes financed by a mortgage loan stood at 38.8%. In addition, in this type of purchases with financing, the amount of the loan represented an average of 73.9%.

The business network, which operated throughout Spain


The Civil Guard has dismantled a network that defrauded more than 1,200,000 euros to small and medium-sized companies (SMEs) throughout Spain through the granting of false credits , in an operation in which ten members of the organization have been arrested and charged to another nineteen in A Coruña and Madrid.

, captured its victims through the Internet , reports the Directorate General of the Civil Guard. So far 178 affected have been detected although this figure can be increased considerably, according to the researchers’ estimates.

The network offered loans from the Official Credit Institute (ICO) to SMEs, who never received them , so those implicated are accused of alleged crimes of belonging to a criminal organization and fraud.

They offered the processing and granting of subsidies, financing and credits The investigation was initiated after the complaint filed by a neighbor of the Asturian town of Tineo in which he stated that he had been the victim of a scam for an amount of 1,200 euros , which he had paid to some companies located in Madrid and A Coruña.

After contacting these companies through the Internet, they had assured him of granting a loan from the ICO. The Civil Guard verified that these companies offered the processing and granting of subsidies, financing and credits with a good web positioning and a very careful corporate image.

The agents located a large number of people scattered throughout Spain who claimed to have been victims of scams in similar circumstances.

In most cases, the applicants were in a limited economic situation because they had to make an important payment for the processing of credits that were presented to them as an economic solution and that they never received.

All these people agreed in the description of the way in which they had been captured by a company located in a central street in Madrid with which they had contacted through the Internet.

Modus operandi

The operators of this company, after having telephone conversations and exchanging emails with potential customers, assured them of an easy grant of loans for variable amounts and asked them for advice and administrative expenses amounts of money ranging between 900 and 1,900 euros.

Once the interested parties agreed to contract the services offered, after making the corresponding income and transfers in a bank account of the company in Madrid, they were automatically transferred to another located in A Coruña, which was responsible for the alleged processing of the credits

In this last company, what had initially been offered as an easy procedure and granting of loans was to become an excessive and successive request for documents to carry out these requests.

These efforts were delayed in time to the point that in some cases the periods contracted by customers were extinguished and in others they gave up on contracted services tired of collecting and submitting so much documentation.

Once all the members of the group were located, ten of them were arrested and another nineteen were indicted for the aforementioned crimes.

So far 178 complaints have been collected for these events although the Civil Guard considers that the number of affected may be greater and that they will increase. In the operation, called Antelope , agents of the Judicial Police Organic Unit of the Civil Guard of Oviedo have participated with the support of agents of this Corps of A Coruña.

'Leasing' and 'renting' take off as new forms of rental financing

  • Banks expand their catalog of goods and services available in 'leasing' and 'renting', which do not require purchase and are accessible to companies and individuals.
  • The new investment in these two types of modalities grew 40% at the end of last year.
  • In Spain there are two types of financing that were born practically within the automobile.
  • View or download the PDF of 'My Pocket' for the month of September.
Renting y leasing

Leasing and renting open a way of financing companies, especially SMEs, at a time of difficult access to credit or traditional loan. GTRES

The beginning of the economic recovery in Spain is being measured from different areas. One of them is the activity in leasing and renting, two formulas that allow you to enjoy a good or service paying a rent and without needing to buy.

According to the Spanish Association of Leasing and Renting (AELR), the new investment in these two types of modalities grew 40% at the end of last year, above the 6,500 million euros. It was the best result obtained in the last three years. And the good run has been extended to 2015. In the first quarter, companies allocated 1,539 million to this activity , representing an increase of 20% compared to the same period in 2014.

In August, 7,021 vehicles financed by renting were registered (16% more than in the same month of 2014). Both for AELR and for AFI (International Financial Analysts), which jointly carry out this type of statistics, the strong improvement in this financing demand it is due to the recovery of industry, construction, the excellent evolution of the tourism sector , and support plans for the purchase of vehicles, such as the PIVE Plan.

"Based on the historical behavior, it is observed that for each increase of one percentage point of the investment in leasing and renting , that of the economy as a whole grows 0.27%," the experts conclude.

In all sectors interest has grown in the use of these two rental formulas; even in the least usual. Elevating machines, computers, tablets, medical equipment, furniture, pleasure craft, even airplanes for the airlines have been leased. But special attention has been given by customers to vehicles, public works machinery and those destined for industrial production. One reference: in August, 7,021 vehicles financed by renting were registered (16% more than in the same month of 2014).

Leasing and renting have a similar purpose, which is the enjoyment of a good without the need for an initial outlay . The main difference is that leasing gives purchase option at the end of the lease. The renting is a rent in itself.

More than half of the entities in Europe used this financing system for the development of their businesses. Of their advantages companies and citizens can participate, although the offer is much more developed for the business world, especially for the smaller ones (SMEs) ). For individuals, it focuses almost exclusively on car rental .

But for all, it is a convenient and easy way to access a series of services that, in a traditional way, such as through a loan, would be more complicated. Banks have extended their offer significantly in recent years. Until recently, it was difficult to find the possibilities that are present in the catalogs of financial institutions.

There are also more automotive brands that offer this alternative . The use and enjoyment in this type of rentals is subject to a series of conditions. But the requirements are usually more lax than a loan in itself, although the interest rate applied to the rent may be similar. The payment in the renting is usually somewhat higher because it includes expenses such as maintenance, repairs or insurance. But the advantages go further.

Companies can enjoy tax deductions with important advantages for their income statement. For example, according to Santander calculations, the financial / fiscal savings for a company requesting furniture leasing could reach 4% compared to other financing options, since it allows greater deduction in the VAT part. The savings would rise to 7% in the case of real estate leasing .

Banks also receive important benefits; basically two: customer loyalty and commissions. Most importantly, the delinquency rate is much lower than that of loans or loans.

The take-off of leasing and renting is taking place at a European level. According to the consultant Oxford Economics, SMEs in the Old Continent invested more than 120,000 million euros through leasing last year. More than half of the entities used this financing system to develop their businesses. This balance shows that in addition to the economic reactivation, companies, especially SMEs, continue to have difficulties in accessing traditional bank credit.

The Internet is also making a significant dent in this environment . In addition to computer equipment rentals, one of the novelties is web renting, which allows having an online presence with its own management in exchange for paying a monthly fee to a company that is responsible for the design, domain contract, positioning, updating, maintenance … Rentingweb, Moweb or Waka Solutions are some of the entities with this service.

Automotive brands develop their own offer

Leasing and renting are not new financing formulas. Its appearance dates back to 1920, in the United States, when the company Bell Telephone System decided to rent its terminals because of the difficulty it encountered in selling them. Companies like IBM quickly imitated this model in the face of its success.

The economic development and the changes in the needs and financing offers have meant that both leasing and renting have been extended to all sectors and countries.

In Spain there are two types of financing that were born practically within the automobile. For example Leaseplan, car rental, has been present in the country since 1985.

The dealers, the brands themselves, apart from the banks, are the ones that have increased the offer the most. Today you can find renting and leasing of own brands such as Renault, Audi, Mercedes, Volkswagen, Toyota, Nissan, Seat, Hyundai … Up to Porsche!