Of course you want and should take out your loan cheaply. – Who likes to pay more than is necessary for a comparable service?
We present credit models and offers in more detail below. It starts with low-interest regular credit. At the end of the article, we are devoting ourselves to credit options where “cheap” always precedes the noticeable reservation of the basic authorization.
Borrowing cheaply – what else?
Everyone wants to take out their loan cheaply. Anything else would be pointless. Money is only a means of payment. Of course, there is no good or bad quality money within a currency area. Purchasing an identical product at a higher price could only be justified if factors other than financing costs guide the search for credit. Supply and demand decide what is cheap.
People with good credit ratings have the best chance of financing at very low interest rates. However, you should not expect any miracles in terms of time from lending. In principle, the faster and more flexibly a loan is decided and paid out, the higher the interest rates. The classic example of this is provided by the cash credit via the current account. The overdraft facility is expensive, and every account overdraft sees this on their bills every month.
The availability in real time, without asking about the intended use and the repayment, leads to exorbitantly high overdraft rates. People who take out their loans cheaply don’t have to wait endlessly. Regular installment credit, influenced by personal score, income and loan volume, can be payable within 48 hours. Only if it is supposed to be faster or if credit requirements cannot be met, then high interest rates are threatening.
Find and apply for a cheap installment loan
The task of finding a low-interest regular installment loan makes it easier to compare loans free of charge. Three anonymous entries, loan amount, term and purpose are sufficient to find a list of suitable loan offers. For those interested in credit with a particularly good credit rating, for example civil servants, it is worth taking a closer look at credit-dependent credit offers.
Loan interest independent of creditworthiness is mostly more interesting for the “normal consumer”. Credit-independent means that everyone who qualifies for the loan offer pays the same interest rate. Borrowers with average creditworthiness find it particularly easy to “take out a cheap loan” when a small loan amount is sufficient. Small loans with a loan volume of USD 1,000 to USD 3,000 and a term of 12-36 months are granted at particularly low interest rates.
The application process for a credit comparison is self-explanatory. If the time factor plays a decisive role, Videoident can significantly shorten the time until the loan is paid out. – Because, a credit institution may only process loan applications that have been made legally binding. If you apply via Videoident, the legally binding loan application can be made within about 30 minutes.
A smartphone, a stable internet connection and a Skype account are sufficient as technical requirements for the new process.
Fast regular credit – addition to the overdraft facility
The disposition is not only tempting, but also very expensive. Nevertheless, every second owner of a checking account knows the problem of fluctuations in spending. It is in the red because not every month is “expensive”. Unfortunately, it is still not worth responding to every overdraft with an installment loan to balance the account. A low-interest loan, which unfortunately only rarely people apply for, is the call-off loan or credit line.
Taking out credit quickly is not a big affair with on-demand loans. The loan is applied for in advance. In addition to the overdraft facility, the credit institution grants a credit line to an additional credit account. If no money is needed, the credit account is zero, there are no costs. If there is a fast credit requirement, for example the checking account threatens to get into the red, the borrower transfers money from the credit account.
The withdrawn money arrives in the checking account within one booking day at the latest. Expensive overdraft rates are avoided because the interest rate for the call credit is hardly above the interest rate for installment loans. The borrower pays monthly interest for the repayment of the withdrawn money, but remains free to repay it. He can transfer money monthly for repayment or settle the claim at any time.
Favorable credit – poor credit rating
When creditworthiness is poor, taking out credit quickly sounds like a contradiction in terms. In the case of poor creditworthiness, a low income or a bad Credit bureau, regular credit providers restrict the offers. Under certain circumstances, a very small overdraft facility is granted to compensate for fluctuations in liquidity, or the offer is even limited to one credit account.
To expect a fast low-interest loan from this position seems hopeless. Whether it is still possible depends on the scale of what is classified as low-interest. For example, providers such as Great Bank from Berlin are promoting the quick mini loan despite poor creditworthiness. If, as a benchmark of comparison, what low interest rates are, regular installment loans, mini loans are of course expensive.
As a comparison measure, the overdraft facility counts over the overdraft facility, because there is no other option, the mini loan is inexpensive. New customers at Great Bank can borrow cheaply, 100 USD to 500 USD, 30 days term, at the level of high interest rates. – This is significantly cheaper than the approved overdrawing above the disposable. (Currently at the Sparkasse, overdraft overdraft costs over 16 percent APR).
Taking out a loan cheaply, as an installment loan and not as a mini loan, is possible via Best Lender despite poor creditworthiness. Best Lender has an immaculate reputation for loan brokerage, bank credit, free credit comparison and personal loan brokerage.