Comparing loans online today is no more difficult than sending an e-mail. The online comparison offers significant advantages.
Applying for a loan or financing no longer requires going to the bank and an eternal conversation with the customer advisor, who of course only wants the best – usually only the best for the bank. It was previously difficult to compare different offers from different banks directly. But in times of the Internet there is of course the possibility to get an online comparison with just a few clicks and to have an individual offer created. In particular, installment loans are offered over the Internet that can be used for all possible purposes of financing. For example, if a bank only grants a loan above a certain, higher amount, you can apply for a loan online for just a few hundred euros. As with a bank, repayment is made in monthly fixed installments.
Online loans with a low interest rate
A major advantage that many banks cannot keep up with is the interest rate offered when financing on the Internet. The interest rates that are available online are often 3-5% lower than at branch banks. As mentioned above, talking to the bank used to be essential – this was something that many potential borrowers were tired of. Applying for a loan these days is much easier and also more convenient. Not only that you can apply for it at any time, whether at night or on public holidays – the loans are also paid out a lot faster, usually within a few days. An online application makes it easy to select the loan and apply. You can also compare different banks and credit providers.
For a non-binding loan comparison
Applying online is much easier than in a branch
Nevertheless, the interest rate naturally also depends on the creditworthiness of the lender. That means income, employment relationship, etc. A scoring is then created with this data, which is decisive for the interest. The current interest rate is then communicated when you apply online. After you have entered all the required data in the mask of the application, the interest rate is calculated on the basis of this. The calculation of the interest rate online does not differ from the calculation in a branch. In the bank, however, you have to face a more than detailed conversation, which you can easily bypass online and still get the same result. A real comparison of different banks, if you don’t want to do this online, takes a lot of time, because you have to walk from bank to bank and get the loan offers with the respective consultation
All in all, the online comparison is worthwhile
In summary, it can be said that the comparison of online loans is definitely worthwhile and saves a lot of time. If you think you can also call the banks and find out about the loan offers, you unfortunately have to be disappointed because they are no longer made over the phone. A conversation is therefore a prerequisite for receiving the loan offer. Those who are afraid to conclude a loan agreement without wanting to do so can be reassured, because a binding commitment to finance is often oversized when applying online and can hardly be overlooked.