There are plenty of reasons to take out a loan. In many cases, the focus is on a long-cherished wish that should be put into practice with the help of the loan. But of course there are other – more important – reasons for borrowing. With the help of a loan, accumulated debts can be summarized and paid in small installments. Or, the current account, which has been overdrawn and is now causing problems, can be put back in a positive light with a loan for an account settlement.
Who grants a loan for the account balance?
In principle, it is the case that you can not only get a loan from the house bank or the many other traditional banks that you know well and that have existed for many decades. There are also many direct banks that work without a branch system and are therefore only accessible via the Internet. They also offer excellent loans, which are usually even cheaper than the offers of traditional banks, since the direct banks can work with a very lean administrative structure and therefore have less internal costs.
In addition, with a loan for an account settlement, it can happen that the house bank, for example, rejects a loan application for this project. Because she knows the financial problems of the prospective customer and could therefore be of the opinion that the default risk is too high when lending. Therefore, it is always better if a loan for an account settlement is not taken out at the bank from which you are in debt.
What needs to be considered?
Anyone who takes out a loan is indebted to the lender. This demands interest and possibly fees for the debt, which must be paid until the debt has been paid. With a loan for the account balance, a simple installment loan should always be taken up, since this is not tied to a specific purpose and can therefore be used excellently for the balance. In addition, the effective interest rate, which includes all interest and fees relating to the loan, is particularly cheap for a simple installment loan. Above all, when the creditworthiness is good and the loan amount is not too high.
In order to be able to use a particularly good loan offer, a comparison between different offers should be made. The required credit calculator or comparison calculator can be found here on the Internet. It is available free of charge and without obligation. Furthermore, test reports and evaluations show very well which loan offers are suitable and which are less suitable.
What are the requirements?
In order to be able to take out a loan for an account settlement, various requirements must be met. Much of it is about the borrower’s credit rating. This must be as good as possible in order to be able to take advantage of attractive loan offers. A particularly good credit rating can be achieved if there is a fixed and attachable income. Furthermore, no negative entries may have accumulated in the private credit bureau.
In addition, the borrower must be of legal age and have a permanent residence in Germany. The desired loan amount must match the monthly fixed costs and must be secured by a guarantor or second borrower if necessary.