If you are looking for low-interest loans, every bank’s advertising promises the low-interest loan. We make it easy for you not to trust advertising and compare it yourself.
In addition, low-interest loans are often only reserved for a certain group of people. We want you to get credit as cheaply as possible. We will show you what is important here.
Low Interest Loans – Advertising
Credit advertising from almost every bank speaks of the cheapest interest rate ever. Minimum interest rates in large letters show that the key interest rate of zero percent has reached the citizen. Loan advertising, whether in the bank’s window or on the Internet, is still not so straightforward. If you read 0.75 percent effective interest, you cannot automatically know that it is the interest rate for a publicly funded loan.
Instead of trusting the advertising, it would be better to commission free loan comparisons to find the individually cheapest installment loan. Three entries are sufficient to carry out a comprehensive credit comparison anonymously. The amount of the requested loan, the planned term and the purpose are to be specified. A list of current loan offers is built up in real time.
Now real loans with low interest rates, suitable for the specified purpose and sorted by interest rates, are on the screen. Particularly low interest rates are almost always offered depending on the credit rating. Naturally, the creditworthiness of borrowers is not the same. Personal creditworthiness decides how high the interest actually required in the event of a loan is.
Compare loan interest rates with your eyes open
Hardly anyone can properly assess personal creditworthiness. To believe in credit approval is one thing. But how personal creditworthiness affects interest rates is more of a case for the crystal ball. The representative example provides assistance in this case. The effective annual interest rate given in the example is approved by 66 percent of all applicants.
Another option would be to look for interest rates that are independent of creditworthiness. Interest rate offers that are independent of creditworthiness apply to anyone who can demonstrate the necessary creditworthiness for lending. Advantage, a slightly lower score does not immediately drive up interest rates. The disadvantage of having a particularly good credit rating is that the interest rate remains constant, although a lower interest rate might justify it.
Loans with low interest rates are not the same for every term or loan amount. An example would be the small loan over 3,000 USD at 1.99 percent. If $ 3,001 were requested or the term was requested beyond 36 months, the effective interest rate would increase to 2.69 percent. If you really want to find your loan at the cheapest interest rate, you should play with the variables.
Fast online credit and low interest rates – no contradiction
Every borrower knows the problem from his overdraft facility, quick money is expensive. But, the speed of a low-interest installment loan from the network has changed a lot. Almost all direct banks now offer video ID for legally required identity verification. The Internet loan thus remains at the speed level of the information superhighway.
Running to the post office, annoyed about incompatible opening times and mail delivery, that’s over. Video ID or Videoident allows legally binding credit applications within a maximum of half an hour. A Skype account and the option for video telephony are required. Both should be present in practically every household.
A representative of the bank calls within a maximum of 30 minutes. He checks the ID card and the documents to be submitted. Now upload the documents and the loan application is legally binding. It can be edited and decided immediately. Loans with low interest rates can therefore be in the account about 48 hours after the first contact.
Tip: The examiner works under time pressure. Please have the necessary documents at hand.
Low interest rates – even with limited creditworthiness?
The desire for low interest rates can be easily fulfilled if the credit bureau attests top marks and the score “flashes golden”. The wish is not easy to fulfill if the negative credit bureau excludes regular loans with low interest rates. Ultimately, personal options determine which options are available. Unfortunately, there is still no standard solution for everyone.
If it is a minor matter, for example a slightly too low loan income, a solvent co-applicant could solve the problem. Due to its good credit rating, it compensates for the small weakness. Regular loans with low interest rates are accessible again. It would be a little more difficult if no guarantor or co-applicant should be addressed.
In this case, credit intermediaries offer their support in finding a loan. Unfortunately, the business has a bad reputation, not necessarily without reason. Especially with poor creditworthiness due to a negative, numerous warnings against dubious brokers are known. – This raises the question of which intermediary can be trusted? We answer this legitimate question with two names.