Good Credit Bank offers financial products for individuals, entrepreneurs, smaller and larger companies and international companies. It is a member of Good Credit, a pan-European commercial bank operating in 17 European countries. Good Credit Bank has been operating on the Czech market since 2007. It offers a truly broad and comprehensive portfolio of financial products for the average citizen.
Compared to competitors, Good Credit Bank has been criticized in the past due to higher fees for keeping credit products. In many reviews, Good Credit Bank also mentioned with regard to the confusing offer. It counted too many similar financial products and rather discouraged the client.
At present, however, Good Credit Bank has worked on its products and offers only the essentials in certain variants.
In Good Credit Bank’s banking products and services for individuals, its offer is divided into loans , accounts , insurance , savings and investments . The following paragraphs will present the most important information on Good Credit Bank’s major financial products.
The basic account from Good Credit Bank is called E-Money. For two months free account management is provided to all interested parties. Thereafter, it remains free of charge provided that at least USD 12,000 is sent to it every month , otherwise USD 199 is paid monthly. Persons from 15 to 26 years of age are excluded from this condition, so U Account is also suitable as a student account .
Students pay nothing for their account and they do not have to meet any other condition besides the age restriction.
Current account E-Money at the above condition includes free of charge :
- account opening and maintenance incl. another foreign currency account
- cash withdrawals from all ATMs free of charge worldwide
- Smart Banking mobile app
- internet banking Good Credit Bank called Online Banking
- provision, administration and maintenance of an authorized overdraft of USD 5,000 to 150,000
- contactless embossed payment card
- discount program on credit card
In addition to the current account E-Money, Good Credit Bank offers other variants of accounts – E-Money PREMIUM , E-Money TANDEM, and a child bank account.
The K U PREMIUM account receives, for example, prestigious gold payment cards and PREMIUM medical assistance . This includes the possibility of medical consultation 24 hours a day and other extra services. The PREMIUM account is also free of charge provided that at least USD 50,000 per month is sent to it or the total amount of deposits is at least USD 1,000,000 on the last day of the month.
For a TANDEM account , as the name suggests, it includes two accounts at once. It is sufficient to send both accounts in the sum of 12 000 USD and then the client does not have to pay anything for their management or other common operations.
Good Credit Bank offers a CHILDREN account free of charge for children under 15 years. When this age limit is reached, the CHILD account is automatically transferred to the U account for young people respectively. E-Money. The CHILDREN’S account bears 0.25% pa, up to USD 30,000. Higher amounts bear interest of 0.01% pa
Quick loan for anything from Good Credit Bank
A loan that does not have to prove the purpose of the funds is called Quick loan for anything at Good Credit Bank. Depending on the client’s creditworthiness, it is possible to borrow up to USD 1,000,000 with a maturity of up to 120 months . For loans over 300,000, a co-applicant may be required; for loans over 600,000, a co-applicant is always required.
A Quick loan for anything can be requested by a person over 18 years of age , with permanent residence and income in the Czech Republic and a functional mobile number. The reason for the refusal of the loan may be an ongoing notice or a probationary period.
An identity card , income confirmation , account statements or a tax return and, in the case of a settled or narrowed joint property of the spouses, a proof of receipt are required for processing the loan.
Good Credit Bank charges a fee of USD 1,500 for arranging the loan, which may discourage many interested parties. Good Credit Bank argues that it does not want to unnecessarily translate the fee into the interest rate, trying to keep it as low as possible. Therefore, it takes the mentioned entry fee.
The interest rate according to the price list is 5.9% pa . Thanks to the remuneration for proper repayment , the client can easily get up to 3.89% pa . This lower rate is negotiated at the outset and is subject to the following conditions:
- it must be a loan with a maturity of 60, 72 or 84 months
- there shall be no delay in repayment of the monthly installment longer than 29 days
- there must be no early repayment of all or part of the loan
In addition to the Quick loan, the interested party can also arrange repayment insurance . The insurance covers death, disability III. degree, incapacity for work or involuntary loss of employment or hospitalization.
Summary of Quick loans for anything :
- loan scope : USD 20,000 to 1,000,000
- maturity : 12 to 120 months
- interest rate : from 3.89% pa with remuneration for regular repayment, according to the price list 5.9% pa
In the event of unexpected financial problems, the client may postpone the installment up to five times, with the tenth monthly installment of the loan being postponed.
Quick home loan from Good Credit Bank
Practically the same parameters as the previous loan also has a Quick home loan . In this case, however, the spending is already documented and, as the name suggests, should be associated with housing. What specific purpose in connection with housing can be specified by the bank itself in its terms.
The client has up to 6 months to prove the purpose of the loan. As in the Quick home loan, in the case of the Quick home loan, those interested can calculate the monthly installment with various parameters. This is done through an online calculator on the Good Credit Bank website.
According to the current price list, the Quick home loan offers an interest rate of 4.9% pa As in the previous case, if properly repaid, the interest rate can be 3.89% per annum .
New mortgage from Good Credit Bank
Other financial products of Good Credit Bank include New Mortgage . Thanks to it, it is possible to borrow up to 90% of the value of the property , with a maturity of up to 30 years and the option of fixing the interest rate from 1 to 10 years . Good Credit Bank has the lowest interest rate since 2.22% pa . for mortgages up to 80% of the value of the property.
As is customary for a regular mortgage , it must be secured by a lien in favor of the bank . Collateral may be either through the purchased property or any other property in private ownership.
Upon the first visit to the bank, the candidate obtains information on all required documents and receives a preliminary offer. As an indication, calculate mortgage payments, everyone can hypokalkulačce also due to the bank’s website.
It may be important for many people that besides the money for the real estate itself Good Credit Bank also offers some extra money . With this financial means the applicant can cover the costs of furnishing a new flat or house.