For what period can I take a cash loan?

Probably cash loans are the most popular way to get extra money that will allow you to finance sudden expenses. However, for what period it is best to take a cash loan so that it is the most profitable, but also that it does not burden your budget too much.

In most banks you can take a cash loan for min. 3 months, and its maximum duration is up to 10 years.

 

Loan period and creditworthiness

Loan period and creditworthiness

The loan period has a huge impact on your creditworthiness. After all, the cash loan installment you choose cannot charge your monthly budget. That is why sometimes the choice of a longer loan period will be much better – thanks to this, the monthly load will be lower and the chances for a cash loan will increase.

On-line cash loan

Online cash loan

You can find online cash loans on the market from most banks on the market. The period for which you can get such a loan usually does not differ from those taken at bank branches.

Early repayment of cash loan

cash loan

Typically, banks allow for early repayment of the loan . However, don’t forget to check your credit agreement to see if the bank will charge you an additional fee. It is worth paying attention to this already when signing the contract with the bank.

Cheap cash loan

Cheap cash loan

The cheapest cash loans are, of course, the ones you take for the shortest period. The longer the repayment period, the more you pay for it. In addition, it’s good to know that if you apply for a small amount for a short period of time, you’ll be able to apply for a cash loan without earnings statements.

If you don’t know how to get the cheapest cash loan, it’s best to compare credit products prepared by banks. You can do it using a comparison tool, there you will also compare cash loans without BIK.

Finance your dream wedding cheaply with an installment loan.

 

Planning a wedding can be a very nerve-wracking and exhausting task for the newlyweds – in addition to the perfect dress, the right location, the right food, the right table decoration and many other small and large details have to be selected, ordered and organized.

The expenses that the happy couple has to spend on arranging their dream wedding seem to be infinite. Since many of these expenses have to be made before the “big day” and therefore a large amount of money has to be raised within a very short time, the bride and groom should look for a suitable source of finance in good time if the saved capital is not sufficient for the perfect dream wedding.

With the right wedding credit, the most beautiful day of your life will be perfect

With the right wedding credit, the most beautiful day of your life will be perfect

In order to avoid having to turn over every euro twice to plan their wedding or to have to forego certain things holistically, many couples in Germany are now taking out a loan for their wedding. Financing the wedding and the subsequent celebration with a bank loan is currently a very inexpensive decision: Interest rates for consumer loans in Germany are at an all-time low – cheaper than now, consumers could no longer borrow money from the bank for a long time.

When choosing the right wedding loan, the soon to be married couple should make sure that the bank enables their customers to make free special repayments during the repayment of the loan. In addition to the monthly repayment installments contractually agreed with the bank, borrowers can then make unscheduled payments and thereby reduce the outstanding loan amount.

Money gifts from friends and relatives can be used to quickly repay the loan. This not only shortens the term – the total loan costs, which correspond to the sum of interest and principal, are also reduced in this way.

Joint borrowing ensures better conditions

Joint borrowing ensures better conditions

However, the future spouses should pay attention not only to free special repayments, but also to the effective annual interest due on the loan when comparing different wedding loans. To a certain extent, the bride and groom can even influence how high the interest the bank charges on loaning the money: If the future spouses apply for the loan for their wedding together, the higher credit rating usually ensures lower loan interest.

If a loan default occurs during the repayment phase, the joint loan application increases the security for the bank. In this case, the bank can seize the salaries of both borrowers to pay the outstanding debt. It is important for the joint application that both borrowers are employed indefinitely and have a Credit Bureau file without a negative entry. Celebrate the best day of your life with your friends and families without having to look at the money – with a cheap loan for your dream wedding!

The available credit for families with children.

Families with children may need funding at various points. It starts at the moment when the youngsters see the light of day and the small car is not enough to carry the stroller. Many of the new parents would also like to improve from the living situation. Then for many, the wish for a small house with a garden is at the top of their wish list.

Loans for families with children and a wide variety of wishes

Loans for families with children and a wide variety of wishes

There are very special loans in the form of car loans and real estate loans, especially for the two requests mentioned. Such dedicated loans always have advantages and disadvantages. A real estate loan can usually be obtained at low interest rates due to collateralization via liens. However, the achievable interest rate advantage requires additional expenses that arise from the costs of registering the liens. Bank closing fees for a dedicated loan for families with children are also quite respectable.

With classic car loans, the lenders require collision insurance as security and this also causes additional costs, which often even outperform the interest advantages. If you compare the loan offers, you should therefore not only concentrate on the interest, but always compare the complete loan costs including ancillary costs.

Sponsored loan interesting for families with children

Sponsored loan interesting for families with children

If you are looking for a home, you can also use the promotional loan to be requested through the house bank. It can be obtained for the new building as well as for the renovation of an old building if the requirements of the energy guidelines for Lite Lender’s energy-saving houses are met.

Funded loans, like unrestricted consumer loans, have the advantage that interim repayments are always possible without prepayment penalties. Long terms and low interest rates with a long fixed interest period complete the list of plus points.

Consumer credit as a loan for families with children

Consumer credit as a loan for families with children

If the parents are employed and have successfully passed the trial period stipulated in the employment contract, the non-earmarked consumer credit could also be used as a loan for families with children. It is characterized by short processing times and mostly no closing fees. When choosing the provider, it depends on the personal economic situation. If you have a good income and a “clean” Credit Bureau, you will often get away with a credit-dependent interest rate.

All other interested parties are advised to take advantage of the offers, which set the same interest rates for all customers. In terms of the possible amount, consumer loans are now also suitable as real estate financing, since sums of up to USD 100,000 are sufficient for some banks as non-earmarked loans for families with children.

Loan buy-back: instructions for use

Here is how a credit buyback operation works.

Credit repurchase: the basis of this financing

Credit repurchase: the basis of this financing

A repurchase or consolidation of credit (the two terms indicate the same operation) is a banking operation which consists in combining several loans into one. In fact, the credits concerned are settled and the remaining sums due are carried over to a new credit contract.

This new loan offer contains the same terms as a conventional loan: rate, duration, monthly payment and optional insurance. The advantage of buying back credit is to reduce the amount of the new monthly payment by lengthening the repayment period.

Nature of the loan

Nature of the loan

Law specifies that there are two types of loan consolidation: the so-called consumer buyout and the so-called real estate buyout. In fact, it is the share of mortgage loans to be taken over which determines the nature of the new loan. If this share is greater than 60% (compared to the total sums to be taken over), then this is a buyout of mortgage, if the share is less than 60%, it is therefore a buyout of consumer loan.

The costs related to this financing

The costs related to this financing

A credit consolidation is not free, the operation may incur costs when it is set up. First, the application fees. The arrangement of this type of financing is more complex than a conventional loan and requires more supporting documents. Early repayment of loans can also lead to compensation (depending on the contract), up to a maximum of 3%. The guarantee request (mortgage via the notary, bond) can also be a source of costs.

Steps to take

Steps to take

A borrower can call on his bank or a banking intermediary to request the consolidation of his credits. His bank will then rely on its own funds to make a proposal. If the bank does not offer these types of financing, the borrower can turn to an agent, broker. It is an organization which acts as the intermediary between the borrower and the credit institutions which exclusively finance loan repurchases. Lending companies also offer a free, no-obligation study via its online request form.