Is the cheapest loan also the best loan for you? That may sound strange because why should we pay more than necessary? The answer is that the loan must fit you. In addition, banks work with a credit score report. Not everyone gets the lowest interest.
To be right at home with the door: the cheapest loan is only available if you borrow at least 25,000 euros. Up to 75,000 – 100,000 euros can be borrowed. The lowest interest rate from advertisements only applies if you take out a high credit. The majority of people want an ordinary credit up to roughly 15,000 euros. The interest on these loans is higher than with a credit of 50,000 euros. Furthermore, the loan must fit into your budget. The banks keep a certain minimum limit what customers must earn before they can take out a loan. These limits depend on your personal situation. If you have a family with children, you need a higher income to borrow than someone who is single. The revolving credit has a slightly more favorable interest than the personal loan.
Which credit score report do you get?
In addition to the income and the family situation, a number of other factors also count towards the determination of the interest. An important factor for borrowing is whether you have a permanent employment contract. People with a temporary job (temporary work phase C) can also qualify for a loan. Furthermore, it is checked whether you have already borrowed before and the credit score report is checked if you have outstanding debts outstanding. Debts at Wehkamp, a telephone subscription with mobile, red cards, customer cards and a credit card are also debts. Owning a home makes a big difference when applying for a loan. Your personal information ultimately determines a credit score report. This credit score report largely determines the level of your interest. The higher you score in the credit score report, the lower the interest will be on your loan. The cheapest loan is therefore strongly determined which credit score report you achieved.
Terms and conditions revolving credit
– Age between 25 – 68 years
– No negative credit score report listing
– Permanent work
– Temporary job with employment contract (stage B or C)
– WIA / WAO (structural)