zaemus offers loan loans from DKK 1,000 and up to DKK 6,000 with the option of deducting them over 36 months – even without interest rate cancellation during the first 60 days. Behind zaemus is Basisbank , which also offers other forms of online loans in the Danish market.
zaemus is a whole new way to offer micro loans. Micro loans are loans of up to 10,000 kroner and are traditionally offered so that the loan will be fully redeemed within 30-90 days. At the same time, the first loan is usually offered free of charge , ie without paying interest or fees.
However, at zaemus you can borrow up to 6,000 kroner. However, instead of a short maturity of only one month, the zaemus offers a repayment period of either 12, 24 or 36 months. The first 2 months are also interest-free and you do not have to pay repayments. In fact, you can choose between a maturity of 14, 26 or 38 months when you raise a microphone at zaemus. (First 2 repayment months and then 12, 24 or 36 months with installments).
It is a little easier to borrow small amounts. But if you expect, you will find that, in particular, the smallest amounts will be much more expensive to borrow in this way. Especially if you choose the longest possible installment period. However, because you pay off for a long period of time, you do not notice it on the private economy in the same way as if the loan expires after 30 days.
Do you borrow for example. 1,000 kroner and choosing a repayment period of 36 months, the loan ends with costing you 1,880 kroner in interest and fees. If you had borrowed 1,000 kroner on a traditional micro loan with full redemption after 30 days, the loan had only cost you 200 kroner for example. Vivus .
Looking at the monthly price, you will lose just under 50 kr. At zaemus if you choose the loan over 38 months. By comparison, Vivus’s monthly price of 4 x this = 200 kr., If you only borrow for just one month.
Should you borrow smaller amounts, it may be better to take a traditional micro-loan if you have the required economy to repay the entire loan at a time within 30 days. Should you borrow for a year or longer, zaemus will be a cheaper option. It is therefore important to clarify exactly how much time you need to borrow. If you have any doubts about which microphone is the cheapest for you, go to our microphone overview and see what options you have.
Who can borrow?
zaemus offers loans to all who:
- Is over 18 years old
- Is authoritative
- Has permanent residence in Denmark
- Have a fixed income
- Not registered with either the Experian (RKI) or the Debtor Register
- Has an active email address
- Has an active phone number
- Has NemID
How much can you borrow?
You can borrow between DKK 1,000 and DKK 6,000, running at NOK 1,000 at a time. You can not borrow 1,500 kr., 2,500 kr., 3,500 kr., 4,500 kr. Or 5,500 kr. – only nice round amounts up to 6,000 kr.
In short, it’s small amounts and the domain name also makes it a loan that you can “scratch” when it’s needed.
How long can you repay the loan?
You can choose to repay the loan over 12, 24 or 36 months. In return, two months after you have taken the loan, you must begin to deduct. This period is interest-free. So in reality, you can choose between a term of 14, 26 or 38 months. First, you have 2 repayment months and then 12, 24 or 36 months with installments.
What does it cost to borrow from zaemus?
When comparing zaemus with other lenders, do not look at the interest rate, but on the amount called OPP. It stands for Annual Costs in Percent and indicates how much percentage of the amount you pay back over a year that goes to interest and fees for the loan. Thus, the loan is cheapest, which has the lowest OPP.
But just in the case of zaemus, there is a truth with modifications if you borrow a small amount. Here, a traditional micro-loan on the paper will have a much higher OPOP because of the extremely short maturity. OOP values of 1,000% and above are therefore not uncommon for traditional micro-loans.
OPP is a good guide to most loans. But OOP, it’s a good idea to compare loans that are taken under very different conditions – such as A low-term loan with extremely short maturity was against a low loan with a very long maturity in relation to the loan amount.
Therefore, it is a good idea to look at OPP if you can choose 2 loans that both meet your exact needs for loan amount and maturity. However, if you only need to borrow a smaller amount or in a coretar time than offered, then it is best to look at the total cost.
Both OPOP and total costs are disclosed by all loan providers, so it is easy to compare the loans. Set the loans to your needs and then compare the total cost to find the cheapest loan for you.
What should they know to approve of the loan?
zaemus needs quite a few information to be able to approve of a loan. In fact, you only need to inform:
- Phone number
- Social Security number
- Account number where the money must be entered
It’s quick and easy, if you’re tired of borrowing money, zaemus can be a loan for you.
You do not need security
As with any other loan providers online, you should not provide security for your loan. This means that the zaemus can not claim to have what you have borrowed the money for or anything else worth compensation if you can not meet your loan repayments.
Normally you will also be able to borrow loans of this size in the bank without having to provide security for the loan. Security is usually required first on loan amounts above 25,000 kr. The security is most often done by stating a mortgage in the loan you borrow, but no loan from zaemus is required.
14-day right of withdrawal
Like other online loan providers, you have 14 days of cancellation when you borrow from zaemus. If you choose to make use of the right of withdrawal, you must immediately return the full loan amount. You do not have to pay interest for the period you have had the money in your account. As for the loan, interest is free for the first 60 days.
How fast do you get an answer to your application?
zaemus promises answer within a few seconds after you submit your application. It is faster than the majority of all the network’s loan providers.
How quickly does the money enter the account?
Within zaemus’s normal opening hours, the money will normally be credited to your account within 30 minutes of signing your loan application with NemID.
The zaemus also promises that this is the case at the weekend. Here they are open between kl. 11.00 and at. 16.00. So if your bank processes cash transactions this weekend, the money will be found in the account 30 minutes after your digital signature has been received by the zaemus.
Can you pay more or pay the loan before time?
It is not clear from zaemus’s website whether the loan can be redeemed before time. Since it is possible to repay loans or pay more back on the other loan types offered by Basisbank, we basically assume that it is also possible at zaemus.
By paying more back when you can afford it, you can save a lot of money on the long run, as well as usually short several months of the repayment period. Therefore, it is always a good idea to pay a major repayment on your loan in the months you can afford it.
Similarly, there will usually be a large interest rate savings by repaying the loan before time.
Apply for the loan before deciding
If you are in doubt that zaemus is something for you or if you want to compare the loan with zaemus with other loan providers, it’s a good idea to apply for the loan before you decide. Then you will find out whether you can be approved by the loan provider and you will be able to close the loan agreement further before you decide.
It is completely risk-free to refuse to raise the loan anyway. The loan documents are only binding once you have signed them with your NemID. Until then, you can completely refuse to withdraw the loan by notifying it in writing to the loan provider and not signing the loan agreement with NemID.
In the case of the zaemus, it is especially important to compare larger loan amounts of DKK 5,000 and DKK 6,000 with traditional consumer loans . Here the lower loan limit is usually 5,000 kroner. Therefore, both interest and terms can often be more beneficial for a consumer loan – even if you choose the shortest possible installment period of 12 months.