Online loan record – comparison even without private credit

On our current loan offers can be compared at a glance. You can choose from loans from renowned banks. There is the possibility to take out a personal loan. Borrowing is quick and easy via an online form. After a short processing time, the money will be credited to the specified account.

What to borrow online for?

If someone has enough savings, they generally have no need to borrow. If this is not the case, a loan may be advisable to buy a house or to finance other condominium, furniture, other furnishings, a car, or personal desires.

There are several types of loans, such as:
Mortgages and mortgages to finance a home or condominium, installment loans with fixed installments over the life of the loan, motor vehicle loans, emergency loans, lightning loans, instant loans, special and special credits, overdrafts / bank overdrafts, to name only the most common ones.

If someone has a loan request, they are most likely to contact their house bank or a bank of their choice. This can be done by going to the counter. First, he will describe his personal situation and explain the need for borrowing. Then one searches for one for him in question credit type. Once this is found, a loan application can be made on a form. But not all groups of people come into question.

This can then be said to them immediately. The amount of the loan is requested on the form found on the form; the repayment and the repayment modalities are rolled over, the length of the term is predetermined, as well as the amount of the interest rate. Likewise, the personal details, such as the exact personal details, the employment relationship (s) of the future borrower (s) are listed.

Documents are requested from the bank about all relevant facts.

The processing of the loan request

If these are taught, the processing can be done. The details are checked carefully, in particular the personal data and the income ratio. Of particular note is the examination of the applicant’s creditworthiness. It will be asked to information whether someone has always met his previous payment obligations or not. If there is a default of payment, it will be difficult to get a loan. So there are also people who are not granted credit. But if everything is fine, the borrowing is usually nothing in the way.

A credit application form will be filled out with the information required by the applicant (s). The bank adds its modalities, such as the type of loan, the amount of the loan, any collateral, term, interest rate and repayment modalities. Usually processing fees are added and the terms and conditions are printed and must be recognized.

After processing and loan approval, the form is either signed to the borrower (s) and he / she can sign it alone or, usually, the person is contacted by the bank and asked to sign and sign the contract to be able to take.

The advantages of online credit

It has been described here so far an online loan, in which someone directly, in personal contact with the bank, as usual for decades usual. It is now also common to seek a loan over the Internet. The online loan is applied for and completed online. Within a few minutes, it will be obvious to the prospect if he or she is granted a loan.

Thus, the transition to the bank is saved, so the time is considerably shortened and it gives him a first overview of his options. Also, the online conditions are often cheaper. In the further processing, the online loan does not differ from the processing at a branch bank; the same documents must be provided, a credit check is made and a credit agreement is concluded.

Good to know:
Usually the usual types of credit are offered; starting with the mortgage lending. Particularly noteworthy are the instant loans, which are usually completed online and installment loans between 1.500, – and 50.000, – € represent. Lending is decided within a few days so that the money is available quickly. To mention are still small loans, which are installment loans, from about 500, – €, and to de minimis loans with a loan amount up to about 200, – €.

Lightning loans – it’s hardly faster

It goes even faster with a lightning loan, with an immediate payment by lightning transfer. An urgent loan is usually a installment loan, where the receipt of money takes place immediately after the commitment of the provider, partly by flash transfer. Otherwise the usual transfer time. Advantages of borrowing via the Internet are: good comparison options; can be applied for online; This application is time-saving and therefore simplistic ; often lower interest rates; fast cash receipt. Under certain circumstances, a private creditprüfung can be dispensed with.

Disadvantages of borrowing via the Internet are: there can be no personal advice from the bank, but which might not be advisable for less experienced people, especially on the types of loans and opportunities. Perhaps a customer is already personally acquainted with the bank and the bank employee therefore knows his situation and can therefore advise him in the best possible way.

Long-term vs. short-term loans

There are long-term and there are short-term loans. The longer a loan, the lower the lending rates in general. For overdraft or overdraft loans, the interest rate is usually the highest. This is also not really intended as a loan, but only as a short-term opportunity to bridge financial bottlenecks. However, if these exist over a longer period of time, it can be considered to convert the credit line into a normal loan.

Not every person is granted a credit line, but only persons whose previous solvency is not doubted, otherwise the repayment of the money would be doubtful and could possibly even turn out for the bank. An examination in advance takes place; but it can never be completely ruled out, for. For example, if the customer was previously unknown to the bank or is new. Also, someone can suddenly get into financial distress through no fault of their own, for example through an accident, unemployment or divorce.

Then it is advisable to speak with the bank in any case first, to look for a solution to the problem. In addition, it may be advisable to seek a debt counseling service.

However, there are also loans in which the examination of the creditworthiness of the creditor is partially waived; So there is a repayment risk in advance. If such a loan is granted, the interest rate will of course be high. In such cases, lending may be subject to the condition of taking out a residual debt insurance or loan loss insurance. It may also be possible that no credit is granted to a bank.

It can then still private loans or founders are found, including, for example, from the family or circle of friends. The more collateral offered, the cheaper the loan term will be.

Also, borrowing requires certain conditions such as:
Of age, ability to work, a permanent residence, a secured income.
In any case, lending is left to the discretion of the bank, which will always ensure that the borrower (s) are as creditworthy as possible and that they can pay punctually at the agreed rate.

Start credit comparison

Looking for a cheap online loan? Then take a look at the comprehensive comparison calculator. Here you will find current online loan offers at low interest rates. At a glance, the offers of many large banks can be compared. With a few clicks, a preliminary and non-binding inquiry can be started. In addition to bank loans, there is also the possibility to apply for a personal loan or cash advance.

For consumer and mortgage loans, credit comparisons are increasingly being offered on Internet portals. Conducting a credit comparison online is extremely time-saving, very informative and extremely convenient. The result appears immediately on the screen. There is no need to even put one foot outside the door.

Before taking out a loan, it is always worthwhile to carry out a credit comparison. Comparing different loan offers online saves time and is very effective. The terms of the loans offered are presented clearly and can be compared very well. Questions such as what does the credit cost, how long does it run, what is the repayment required, will be answered. The goal is to identify the provider with the best terms for the desired loan.

How important is the credit rating?

When comparing the individual loan offers, it is important to know that the listed conditions only apply to customers with the best credit rating. The credit rating is the degree of creditworthiness of the debtor. It is based on the amount of current income, the size of the household and the availability of assets. Existing assets can be deposited as collateral and are of greater importance to lenders than current income.

Income may diminish unpredictably as a result of loss of employment, unemployment or illness. The assumptions regarding the creditworthiness of the respective debtor for the granting of certain conditions must be stated by the lender. Most of this information can be found in the fine print.

Good to know:
For the evaluation of a loan offer, they are, in addition to the offer itself, of utmost importance.
Debtors whose credit worthiness differs greatly from the creditworthiness required for the loan offer should in addition require several individualized bids from different lenders to actually select the cheapest loan.

Calculation of creditworthiness

The higher the credit rating, ie the creditworthiness, the lower the risk that the loan can no longer be repaid. Conversely, the lower the credit rating, the higher the likelihood of default. The interest rate is the price for the default risk. The higher the default risk, the higher it is. This means that as the credit rating decreases, so does the credit default risk, and hence the interest rate on the loan.

In other words:
The credit becomes more expensive. In addition to the interest rate, creditworthiness is also the decisive criterion as to whether a loan is even granted and, if so, in what amount.

In addition to the parameters already mentioned, such as income and wealth, creditworthiness is also determined to a large extent by incidents in the past. Unpaid loan installments or unpaid bills lead to negative private credit entries. Also, the overdrawing of checking accounts beyond the scope granted by the credit institution, lead to negative private credit entries.

Have your own financial situation in view

Before the actual loan comparison online on the home computer should therefore be an accurate and comprehensive analysis of your own financial situation. The disposable income must be compared with the fixed monthly expenditure. This comparison provides scope for future installment payments. For the amount of the loan and for the duration of the claim, the purpose is primarily decisive.

Is the loan used to finance a property or is it a consumer loan? Suppose a consumer loan is to be taken and the difference between disposable income and the fixed monthly cost is 200 euros, so this difference gives the maximum amount of the loan installment. In order to build in a risk buffer for unexpected cases, in this example a maximum of 100 euros is available for fixed monthly repayments.

Since a consumer loan should run for a maximum of five or six years, the maximum possible amount of loan repayment is deducted from the repayment until then, taking into account the possible interest rates.