In the overview below, we give you a list of the best providers according to various aspects such as the best, fastest or most transparent installment loan . Because the lower the monthly rate, the lower the monthly burden.
Tip : Depending on the individual situation, conditions often differ significantly from the minimum interest rate. So it makes sense to get comparative offers. Please note, however, that information is sent to Credit bureau with every credit request and that a large number of credit request entries in Credit bureau can reduce the chance of a cheap loan. Credit offers without Credit bureau can, however, be obtained at any time and without a Credit bureau note as a comparison offer.
Further information on the installment loan
As the term installment loan already indicates, the installment loan is a fixed loan amount that is repaid to the bank in “installments”. The loan amount is usually granted for consumer goods such as cars. Therefore, the installment loan is also called consumer loan.
An installment loan can be applied for by any non-legal person who has a permanent employment relationship, is of legal age, resides in Germany, acts in his own name and on his own account and for whom there is no negative entry in the Credit Bureau
People with a negative Credit bureau entry, employees at temporary employment agencies and the self-employed are generally excluded from an installment loan.
The interest rate on an installment loan is fixed for the entire term of the loan granted. In order to receive the cheapest interest rate as an applicant, it is necessary to compare the installment loans of the various credit institutions.
Cost of an installment loan
The term of an installment loan depends on the personal possibilities of the applicant and the amount of the installment loan. Before submitting the application, the applicant should be clear about their financial budget. In order to keep the possible risk of non-repayment of the loan amount as low as possible, installment protection should be taken out. Rate protection is available in various options.
The cost of an installment loan is calculated from the processing fee and normal interest rate. In summary, it can be stated who wants to take out an installment loan as an applicant should calculate and compare some points in advance:
- own budget
- Amount of the installment loan
- Loan term and interest rate
- Offers from various banks
- check a possible rate hedge
- calculate possible alternatives to the installment loan.
- The potential applicant can get individual answers conveniently, professionally and factually competently through a credit comparison.