Installment loan is absolutely versatile
An installment loan is absolutely versatile and that is why it is so popular: you can allow yourself a long-awaited dream vacation, do not have to make any compromises when furnishing your new apartment or can finance an expensive new purchase. Absolute freedom despite a large investment. An installment loan can also be used for smaller sums, for example for small renovations or in general for financial bottlenecks. The advantage: installment loans are usually much lower in interest rates than overdraft or overdrafts.
No matter which wish you want to fulfill: on Best bank you can compare different installment loans online and find a suitable offer for your individual situation. We show you what you should pay attention to.
Take out installment credit: quickly and easily directly on Best bank
Taking out a loan doesn’t have to be complicated. From comparison to payment, Best bank is at your side with competent advisors and professional service. Of course, 100 percent free of charge.
Installment loan in just 3 steps
Would you like to take out a loan and need the money as soon as possible? If you take out the loan online via Best bank, the money will be paid out within a few days. You can easily find loans on particularly favorable terms and conveniently take out the loan – without leaving your home.
1. Perform installment loan comparison
To find a suitable loan offer, first enter the desired loan amount, term and purpose in the Best bank installment loan comparison. Information such as income and job are also required in order to receive the most suitable offer.
At Best bank you make a free of charge condition request in this step, which is 100% credit bureau-neutral and non-binding.
2. Select offer
Choose the best offer for you from up to 22 banks. That can be the cheapest annual interest rate or maybe it is the loan offer with the greatest flexibility? You decide what is best for you.
3. Receive money
In order for you to receive your money as quickly as possible, you have the option of legitimizing yourself online via video ID and signing the loan agreement with the digital signature. Of course, the classic way is also available to you using the Postident procedure. When all the documents have been submitted and the bank approves your loan application, the loan amount will be paid to your account as soon as possible.
Installment loan comparison: The most important questions and our tips
The conditions for installment loans vary from bank to bank. In order to find a suitable installment loan for your individual situation, it makes sense to compare different lenders. With Best bank you have the ideal partner at your side: Our free loan comparison offers you an overview of the tariff jungle of installment loans – directly online.
At the very beginning, however, questions arise: How high must the loan be? How long should the term be and what can I afford? You can find answers and exclusive tips here:
How much must the loan amount for the installment loan be?
The higher the loan amount, the higher the monthly interest charge. For this reason, you should check the amount you really need for your purchase before taking out the installment loan.
Installment loan costs: How to reduce interest costs
Interest is the most important factor that private individuals must take into account when applying for an installment loan. Banks do not give the loan entirely unselfishly, because they earn from the interest that accrues. These must be incorporated into your own financial planning. The level of the interest rate depends on various factors:
Design the repayment period
The longer the term (repayment period), the higher the interest. The term should therefore not be longer than necessary.
Keep the loan amount as low as possible
The higher the loan amount, the higher the interest. Borrowers who raise their own funds for the desired purchase can save on borrowing costs.
Bring additional collateral
The more collateral the bank is given, the lower the interest rate is. A security for the bank is either a real material equivalent (e.g. car or real estate financing) or a guarantor/second borrower. As a result, the bank takes fewer risks and rewards this with a lower interest rate. You can find out exactly what counts as credit security in our suitable article.
Keep an eye on your credit rating
If you do not have a good credit rating, you have to expect a higher interest rate. This is how the bank balances the risk. However, some foreign banks also offer a loan without credit bureau, ie they do not use the credit bureau query. More information about credit bureau and credit without credit bureau can be found in this article.
The loan should be there particularly quickly? No problem with the account view
The account view helps banks to get a quick overview of your financial situation. It is only a one-time view of the account movements. The regular incoming payments, such as income, are examined in the context of the account view for loans, as are the outgoing payments. Depending on the outcome, the approval or the amount of interest for an installment loan can be influenced positively or negatively.
The digital account view is relatively new, which speeds up the check before borrowing. In this case, lenders access a digital version of the bank statements. Thanks to the digital account view, credit approval can be granted faster without any detours by post.