Low-interest loan – available from what bank?

A low-interest loan is not only available from numerous online and direct banks, but also from some branch banks.

Cheap loans are found quickly

Cheap loans are found quickly

It is therefore advisable to compare the conditions of the individual banks before deciding on an installment, consumer or overdraft facility. If it is not earmarked, a low-interest loan is freely available and could, for example, be used to pay for repair costs, to finance larger consumer goods or to replace expensive loans.

Credit-dependent and credit-independent credit

Credit-dependent and credit-independent credit

A low-interest loan can be both credit-dependent and credit-independent. A credit-dependent loan would always be given if the amount of the annual percentage rate is marked with the additional comment “from …%”.

Otherwise, it is a credit-independent loan. In general, it cannot be clearly stated which form of credit is cheaper. This depends primarily on the personal requirements of the borrower and in particular on his income and creditworthiness. A credit-dependent loan grants all people who have good, very good or excellent credit ratings particularly favorable conditions and therefore very low interest rates.

For all other people, a credit-dependent loan is usually less cheap. Here it would be more advisable to switch to a credit-independent loan. This is a low-interest loan that is offered to all people who meet the relevant requirements on the same terms.

Apply for credit online

Apply for credit online

It is often advisable to apply for an installment loan online. This saves most banks an enormous amount of administration and advice, which enables them to offer the loan at a particularly low interest rate. A credit comparison on the Internet could also provide more detailed information on this topic.

If a loan application has been received by the bank, it will be checked immediately. It is not only the customer’s personal income situation that plays an important role, but also his Credit Bureau information. If there are serious negative entries, it is impossible to grant loans in Germany. Since all banks are obliged to obtain Credit Bureau information from the customer when applying for a loan, there can be no exceptions to this rule. Statements to the contrary are dubious and should therefore only be viewed with extreme caution. In certain circumstances, however, it would be possible to obtain a loan without a Credit Bureau from abroad, particularly from Switzerland. Those who are interested could contact a German credit broker who will try to find a suitable offer.

Similar to any other loan, a low-interest loan must be repaid in equal installments. These installments are drawn from the customer’s checking account and are due monthly.

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