What a credit comparison is good for, can be seen in all areas of life. A loan is basically an expenditure made with money that you do not (yet) have. From therefore you get from the lender a sum borrowed, which you repay either flexibly or in fixed installments. The flexible variants include bspw. The overdraft facility of the current account or a credit card with credit line.
There it is usually so that you have to transfer a certain amount or share of the outstanding amount plus interest. After that you can use the credit line again. Current accounts with favorable interest rates are bspw. The DKB-cash account or the current account of comdirect bank. The credit card offers of barclays or the fee-free mastercard of advanzia bank represent examples of credit cards that offer you flexible repayment options.
Another variant is repayment in fixed monthly installments for installment loans. A significant advantage of the installment loan is that it is offered at much more favorable conditions.
Do you need a loan at all?
A loan is practical, that is no question. The temptation is also quite large. However, you should always check first whether it is not possible without it. So you have the option to postpone a major purchase and save up the money beforehand. For this purpose, a fixed-term deposit account with a fixed monthly savings rate (such accounts are also available with short terms), a securities account for fund savings plans or a call money account with which you are flexible is suitable.
Another way to avoid a loan or at least reduce the loan amount, you have through savings in everyday life. These are through the right electricity tariff, a cheap insurance or with a good DSL or. Mobile rate achievable. Choosing the right credit card can also be a viable option to save money each year. This comes from the fact that you save the money for the annual fee or the use of the credit card abroad is completely free of charge. Credit cards with included travel insurance save you extra costs that would otherwise be due when booking a trip. In addition, one or the other credit card still opens the possibility for you to get discounts on hotels and rental cars. Another interesting option is the well-known money back (cashback). Using credit cards to get cashback in the form of money, points or miles is certainly a very simple matter.
Find a favorable loan now
If it must be a loan
If you still need a loan, whether it is a new loan to make a purchase, or a replacement loan to reschedule, so you do well if you deal with the issue in advance. Only in this way is it possible to obtain favorable conditions and pay off the loan without any problems.
Desire for a new car?
A credit comparison serves as a first step to compare the savings potential, so that you can pay off expensive loans. A new loan is a worthwhile option to save money monthly. The repayment always includes the loan amount + interest and possibly. Other fees.
Testing the repayment of a loan
If you want to buy a new car and still have a few months to do so, you can enter the required loan amount into a loan calculator and determine the monthly installment amount. You consistently transfer the amount of the installment to a call money account for the next three months and see if you can handle the monthly charge. Should you notice that it is quite tight, then you have the opportunity to try out a smaller rate.
As soon as this works, you have several advantages: for one thing, you know that you will be able to cope with the monthly installments. The second decisive plus point is that you have already built up a small cushion during this time. You then either use this for the down payment, or leave the money as a reserve in the overnight account. This way you can fall back on it at any time if you do need a little flexibility.
What are the advantages of an installment loan with fixed monthly payments??
An installment loan is advantageous if you regularly slip into the dispo and thus constantly your current account is in the minus. An overdraft facility has the advantage that you can draw on the corresponding amount completely spontaneously and without registration. However, the debit interest is higher than with an installment loan and the discipline is usually lacking in continuous repayment.
So it makes sense to replace the overdraft facility with an installment loan. You save a lot of interest and are "forced" to actually reduce the outstanding amount in fixed installments. But beware: if you then use the overdraft facility again, it will be expensive. Because in that case you do not benefit from a cost saving.
Who gets a loan and for whom are the conditions best?
There are certain groups of people who receive good conditions.
If you have a fixed monthly income and this is sufficient to pay the monthly installments, then things look good for now. The chances are correspondingly lower if there is a negative credit entry or you have to fight against a garnishment order.
There's a good reason for this: lenders (i.D.R. Banks) want your money back of course. The probability of this is higher for employees with permanent employment contracts than for the self-employed. The trial period is then usually over. Young company founders in particular often do not yet have the collateral and cannot always prove a regular income.
Logically, employees in the public sector and civil servants are at the forefront of favorable conditions when it comes to loans.
Rescheduling loans through credit comparison
If a loan is already running or you are even paying off several in parallel, you should think about combining them through a single loan. The advantage is that you have only one monthly installment and the loan then becomes manageable. Secondly, you can benefit from favorable conditions and thus save:
- The total amount of credit becomes less
- The monthly loan installment becomes lower
- You can possibly. Take advantage of a rate pause if things do get tight. (the targobank offers a loan where officially at least one payment break is possible)
Prepayment penalty – free unscheduled repayment
The free special payment is important to avoid the early repayment penalty. But what does it mean?
In the case of early repayment, only part of the agreed interest is incurred. However, the bank may demand compensation. This is called the early repayment fee. The bank is by no means free in the amount, because a maximum of 1% of the remaining sum may be demanded. With a remaining term of no more than twelve months, this may only be 0.5.
Nevertheless, a loan comparison is useful, because it is worthwhile to switch to a loan with a lower interest rate (rescheduling). Provided that no negative schufaeintrag spoils you the parsley, and the score is accordingly high, the banks usually offer you a favorable interest rate. On comparison portals, such as smava or tarifcheck, you can determine and compare the best offers at any time. If you want to combine several loans into one loan and at the same time extend the term, it may well happen that the new loan is lower than the sum of the previous loans together. The lower total monthly payment then leaves you more money for other things, z.B. The vacation fund.
Determine favorable conditions by credit comparison
The conditions are often best for borrowers from the public sector. This is bspw. With the postbank privatkredit the case. With a clean schufa stands a debt restructuring by a loan with low interest rate nothing more in the way. The DKB personal loan, on the other hand, offers a uniform and favorable interest rate.
The cheapest loans can be found on the internet. This is due to the fact that the automated processes cause little cost to the banks. In addition, the internet comparison portals offer offers from real and reputable banks, whose names are generally known.
The online loan is offered by most banks. We can apply for this directly on the sites of the banks.
The comparison portals such as smava offer the advantage that you can query several loan offers from different banks at the same time. The results of the loan comparison are displayed sorted by monthly installments, total costs and the interest rate. Overall, the queries of schufa with the feature "inquiry credit conditions" are carried out neutrally. If the banks can offer a favorable interest rate, it may be possible to shorten the term, although the monthly installment is only slightly higher. Great conditions, such as shorter term and lower interest rates you can also achieve if the bank can build on a second borrower.
Loan comparison – the digital loan without paperwork goes fastest
Especially nice is the digital loan kredit2day. You apply for this loan without paperwork, it's really fast. What were the opening hours of the post office? No matter, it is not necessary!
There is actually a loan that you can apply for completely digitally. All you need for this is a laptop, smartphone or tablet. It's so easy!
Pay off a loan faster or prefer a smaller monthly installment?
Whether you will be able to pay off your debt faster or reduce the monthly installment depends on several factors.
In principle, a non-binding loan comparison offers the opportunity to compare the loan offers of the banks with each other. The overview of online loans shows what options are available at what conditions. Paying off a loan early is always a good idea. Through the unscheduled repayment you are sooner rid of the monthly installment and have even more money in the vacation fund. As long as you have the loan on the cheek, you lack of course every month the money. It can never be wrong to have more money available each month.
Vacation but no money?
If it is too tight due to your monthly expenses and only little money remains, it can make sense to reduce the monthly installment. You can do this by rescheduling the loan or by extending the term.
Determine long terms and small monthly installments with the loan comparison
The extension of the term generally makes the loan more expensive. Therefore, you must pay attention to the total cost of the loan in the loan comparison. The monthly repayment rate may be lower, but you will pay more interest due to the long term. With the loan calculator you have the possibility to compare the conditions of the loans. You can keep an eye on the total cost, the interest rate and the monthly payment. Pay particular attention to the information on free unscheduled repayment. Only by making special payments free of charge is it possible to pay off the loan in full or in part early at any time. Even if you only pay a part of it early, it can reduce the cost.
Check debit interest and effective interest in the loan comparison
The bank wants to earn something on the loan. It does this by the debit interest rate. On the credit offers you will always find two details about the interest rate. The debit interest rate is the smaller number.
Credit already from 1,99
As a borrower, you usually have to pay additional fees. These are usually added to the loan amount and the interest. So in total you have to pay the loan amount, the debit interest and the fees. The effective annual interest rate indicates how high the costs are in total and results accordingly from debit interest and fees, related to the loan amount. Accordingly, the effective interest rate is higher than the debit interest rate.
Dear support from credit specialists?
Smava offers you through the credit specialists an extensive knowledge. Often it is small formal errors that lead a direct application also directly into the rejection.
Through the advice of the team of smava this can not happen. With smava goes even more, because here get also self-employed credit.
Is a residual debt insurance necessary?
A residual debt insurance is a significant cost factor and can significantly increase the loan amount. Through the packages offered, the insurance in case of incapacity, unemployment and death should step in and transfer the agreed installments. If you have a constant and regular income and have been employed in a company for a long time, you are well covered even without insurance. This applies in particular to employees in the public sector. For all employees who are interested in taking out insurance: be vigilant is the motto, because most insurance contracts have a long list of exclusion criteria.
What you need for a credit comparison
You can determine the conditions without obligation in the comparison calculator by entering the desired loan amount and the term. Because the personal creditworthiness depends on other factors, you score as a long-time employee with a fixed monthly income. The same applies to civil servants and employees of the public sector. These have in the credit comparison often the best conditions. For the banks are u.A. The following criteria interesting:
- Is the employment contract for a limited or unlimited period??
- How long we have been with the company
- How high the income is etc.
Therefore, these details are to be entered into the comparison calculator, so bspw.:
- Name and address of the employer,
- Since when employed there
- Monthly income and
- Regular expenses (e.G. Rent, insurance, maintenance, loans already in progress)
How does it go on?
After you have made these entries, the calculator spits out the first offers. Your creditworthiness is evaluated on the basis of your income and expenses and a schufa query. The inquiry takes place under the characteristic: "inquiry credit conditions" and is thus schufaneutral, d.H. No disadvantages arise from the query.
If a chosen offer meets your sense, you print it out and bring it signed to the post office.
In the meantime, several banks have started to offer online legitimation. Smava, DKB and ING are classic examples.
D.H. You carry out the legitimation from home, via the internet. To do this, you must show your ID and provide a digital signature. The desired evidence you upload digitally and agree to the income check.
Can you also get a loan as a self-employed person?
Of course, self-employed and entrepreneurs can also apply for a loan. This is particularly easy with iwoca, because here the loan application is fast and uncomplicated possible. Through penta business account you can not only have an overdraft, but also apply for a loan.