N26 Credit - FAQ (Spain)

Can I apply for more than one loan at a time?

No, you can only have one active consumer credit with N26 at a time. You must repay your current loan before applying for a new one.

Can I get a loan without a creditworthiness check?

No, we are required to assess your creditworthiness. This is to ensure responsible lending and protect you from excessive debt.

How do I know if I’m eligible for a loan?

Eligibility depends on your credit rating, financial situation, and other internal factors. Check your app for your eligibility status.

Why was my loan application rejected?

Eligibility depends on your credit rating, financial situation, and other internal factors. You can check in the app if your eligibility situation changes.

Why didn’t I get the loan or the terms I expected?

Loan amounts and eligibility depend on your credit rating, financial situation, and other internal factors. These measures help ensure responsible lending. You can find more information here [Insert link to Why didn’t I get the loan or the terms I expected?

How long does it take to get the money?

If approved, the money is usually credited to your N26 account within 24 hours.

How does N26 calculate my loan interest rate?

Your loan interest rate is based on the loan amount, repayment period, and your credit score. The TIN starts at 3.99%, and the TAE starts at 4.06%, with a maximum of 12.90% TIN (13.69% TAE). If you're eligible, you can view the exact rate offered to you directly in the app.

What is TAE and why is it important?

TAE (Tasa Anual Equivalente) is the annual percentage rate that reflects the total cost of your loan, including interest and any applicable fees, expressed as an annual percentage. This is the rate you should check when comparing different loan offers.

Can I change my repayment schedule?

No, the repayment schedule is fixed when you accept your loan offer.

Can I increase my loan amount after approval?

No, once the loan is active, you’ll need to repay your current loan first. After it’s fully settled, we can reassess your eligibility for a new one.

Can I repay my loan early?

Yes, early repayment is allowed. However, an early repayment fee applies:

• 1% of the amount repaid (if remaining term > 12 months)
• 0.5% of the amount repaid (if remaining term < 12 months)

What fees will N26 charge me for requesting a consumer loan?

No fees will be charged for requesting the consumer loan. The only fees that might apply are early repayment fees if you decide to repay the loan in part or in full before the maturity date.

Where can I find my loan documents?

All your loan documents are available in your N26 app and via the links provided in your contract confirmation email.

Where can I see my existing loan and contractual information?

You can view your existing loan details and all contractual information directly in the N26 app under the “Finances” tab or in the Profile section under legal documents.

What if I want to close my N26 account with an active loan?

You must repay your outstanding loan before closing your account. Please contact us.

What happens if I don’t repay my loan?

If you don’t repay your loan, we may take steps to recover the amount you owe, including using money from any of your N26 accounts to cover outstanding amounts. We may also report the non-payment to Spanish credit reporting agencies, which could affect your credit history and your ability to get financing in the future.

What is the right of withdrawal for my loan agreement?

You have the right to cancel the loan agreement within 14 calendar days from the date of contract signing, without having to provide any justification. You have 30 days to return the amount plus the interest accrued from the date of disbursement.

How do I exercise my withdrawal right?

To exercise the right of withdrawal, send an email expressing your intention to withdraw to support@n26.com.

If you have questions or need assistance with your loan application, please contact us.