Rakuten Bank Super Loan review

Borrowing runs from ¥100,000 to ¥8,000,000. That is a wide range, covering smaller sums for an unplanned cost as well as larger loans for a major expense. The loan comes as a personal loan, with a credit line also available.

The APR is 1.9% to 14.5%, which starts low for a Japanese lender. The rate type is variable, so the figure can change over the life of the loan. Most personal loans on the site sit at a median of 14.43%.

Yes, the credit check is hard, so an application can affect your credit record and needs a settled credit history. Hard checks are common here: 76.8% of personal loans use them.

Rakuten Bank is registered with the Kanto Local Finance Bureau as a deposit-taking institution, and the lender is Rakuten Bank, Ltd. It also runs as a direct lender, so you deal with the bank itself rather than a broker.

Two types are available: a personal loan and a credit line. The credit line is the flexible option, letting you draw as needed, while the personal loan suits a fixed lump sum you need in one go.

Support runs through phone and help centre, so you can call or work through the help centre. Phone and help centre are the commonest channels on the site at 84.2% and 71%.

Rakuten Bank lends in a single market: Japan. Its headquarters country is JP and the amounts are in Japanese yen, so the offer is aimed at residents rather than people borrowing in euros or Philippine pesos.

The bank was founded in 2001 and has since developed into an online direct lender in Japan. That history matters because the deposit-taking registration shows an established regulated bank behind the loan.

The APR of 1.9% to 14.5% is well below the personal loan site median of 14.43%. For a euro comparison, Sofkredit lists 10.74% to 18.06%, a different market and currency.