Would you like to borrow money but also want to secure cheap interest? Then read what is important so that you don’t pay too much. Convenient credit solutions are presented without forgetting the different credit ratings.
Borrowing money – which loan fits the life model?
The advertising is full of loan offers. If the advertising is to be believed, the prospects would be bright. Borrowing money is apparently possible in unlimited amounts, at low interest rates and in every situation. But if you take a closer look, you will be surprised at how expensive low interest rates can be. Who would think of a long-term installment loan to reschedule expensive loans with an effective annual interest rate of 11.95 percent? The offer is still real. It is the extra credit that can be extended for up to 120 months.
An effective annual interest rate of 5.0 percent sounds like a cheap small loan. Interest rates of this magnitude are often offered by direct banks with a medium term. The discovery that this is a real MRP is surprising for most. Germany’s credit institutions usually charge more than double the average overdraft facility. The 5 percent offer comes from a Capital Lender. It bears the somewhat peculiar name Astro Finance.
One thing is clear, however, that the credit market offers unbelievable savings potential for those interested in credit who are looking for a suitable offer with open eyes. If you want to borrow money, but only rely on the local offers, you pay a lot. Online loan comparison is more important than ever.
Compare and not pay too much – Internet comparison
Loan comparison on the Internet is made easy with installment loans. Credit comparisons list the offers of direct banks and chain stores with an online offer, pre-sorted. It is worth playing with the terms and the loan amounts. Special promotions by individual providers, which are often limited in time, can be discovered in this way. Special offers are often only offered for a certain loan amount with a fixed term.
Unfortunately, not every comparison computer is “smart” programmed. The comparison usually does not include the seeker’s personal credit rating. If you want to borrow money, you don’t automatically have the chance to choose the cheapest offer. With poor Credit Bureau creditworthiness, the regular loan providers are often also displayed. Nobody looking for a loan without Credit Bureau can easily switch to the Good Lender loan.
The Good Lender would grant a small loan of 3,000 USD at an effective annual interest rate of 2.75 percent. Unfortunately, the offer is linked to a good credit rating, the Credit Bureau can of course not be excluded. Without Credit Bureau, only money from abroad can be borrowed. The contact person for this credit request would be Merit bank from Liechtenstein. This credit bank currently has almost a monopoly on Credit Bureau-free credit bank financing.
Bad credit comparison
Of course, money is also lent to prospective creditors with poor credit ratings. The need for credit is often high, especially with this target group, only the loan offers are difficult to find. A credit comparison calculator, like regular online loans and instant loans, does not yet exist for people with bad Credit Bureau values. Credit culture and other portals attempt to fill knowledge gaps with information.
The mediators’ advertising is often confusing and not always realistic. If, for example, an instant loan or lightning credit without Credit Bureau is advertised, there is no credit bank that actually offers this offer. The loan without Credit Bureau from Liechtenstein is a standard loan.
The bank calculates the APR on the standard term of 42 months and specifies it as 11.37 percent. The requested loan amount, 3,500 USD or 5,000 USD, is usually paid out within one booking day – after the final loan approval. Cash payment is also possible at an additional cost.
Develop sources of money in difficult credit situations
Even with poor creditworthiness, borrowing money should not be too expensive. Credit intermediaries who advertise this market segment strongly are very reluctant to use the names of specialist providers, mostly credit banks. There is hardly any advertising to be discovered on the part of the providers themselves. Only borrow the money from private, as it is possible, for example, via Lite Lender, with poor Credit Bureau, is advertised.
A broker can only carry out a comprehensive credit comparison of all about 20 providers for loans in difficult creditworthiness. The size and convenience of borrowing money should play a role in choosing the intermediary. Bon Kredit, for example, offers an application process that is as convenient as a regular instant loan. An online application enables a comprehensive preliminary credit check for all known specialist providers behind the scenes.
The cheapest offer to borrow money, always with regard to personal creditworthiness, can be found easily in this way.
Loan without remorse – borrow money on your own
There are many good reasons for not giving up your own control of financing requests. When borrowing money privately, via Lite Lender, Cream Bank or the Agree Bank, self-direction is part of the credit process. The loan request may be presented comprehensively. Certificates ensure that private donors can gain trust. A market-oriented interest rate can be determined using the bidding process.
With an approved loan from a private individual, there is still no need to pay attention to the wishes of the individual investors. A bank is the contact person for all loan processing. Self-directed, serious loan processing and market-driven interest rates make borrowing from private more and more attractive.