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There are a number of ways to get a loan today

There are a number of ways to get a loan today

There are a number of ways to get a loan today. On the one hand, of course, this is the in-house bank that is available with its loan offers. There the customer will find his individual advisor who will inform him about the loan, its risks and special features. On the other hand, online credit, i.e. the credit from a direct bank, is also becoming increasingly popular.

In the event of an approval, the credit will usually be processed within a few days and transferred to the client’s account. However, there is no consultation with these loans as branches are not present in practice. In practice, however, these are generally cheaper than loans from the major bank, since the price advantage of a missing branch and few employees is passed on directly to customers.

However, people who are looking for an online loan should pay attention to some tips in order to become the right one for them. This primarily includes the selection of the lender. Offers should be avoided where the client already has to pay fees for checking his documents. You should also avoid offers from loan brokers that promise loans without prior checking.

In addition, consumers should check the financial feasibility of the offer. The installment payment for the lending business can only be increased if this settlement leads to additional income. The amount of the surplus can then be calculated directly at the relevant house bank, which loan amount or which due date is possible. For this purpose, each online bank has its own credit calculator, which can be used by every individual account holder free of charge.

As a rule, the lower the monthly repayment rates for a loan, the longer the term. This is determined on the basis of the annual interest rate. In addition to the nominal interest rate, it also includes the expenses and fees incurred and thus indicates the actual costs of a loan. However, it should be noted that, although the credit institutions are required to disclose the annual interest rate, some expenses are not included.

Commercial credit insurance

Commercial credit insurance

This includes, for example, account booking fees, but also the expenses for commercial credit insurance. But these positions in particular can sometimes be very high, making a loan offer more expensive. Therefore, it should be carefully examined what additional expenses arise before and after the loan is concluded. It is up to you whether a customer seeks health insurance against death, unemployment or incapacity to work.

Package deals that include del credere insurance should always be avoided. In addition, the interest rates for online loans are only specified for a few lending institutions at a flat rate. At many institutions, the interest rate is already calculated on the basis of the client’s creditworthiness, which is determined by internal scoring procedures. An interest premium can then be expected for investors with medium or poor credit ratings.

For this reason, the calculated interest is often far above the conditions of the advertising conditions, since they only work with customers who are perfectly creditworthy. To determine the really cheapest offer, a credit comparison should be made based on the annual percentage. This is possible free of charge on some internet pages, the house bank is often not even accessible via a reference.

For such a comparison, however, it is important that the loan amounts, the terms and the installment amount match.