In the meantime, many banks and credit institutions have got used to the needs of consumers and provide loans that can be applied quickly and easily via the network. Nowadays, more and more debtors are increasingly opting for a loan product that convinces with low-interest rates, easy application, and quick access.
Pay quickly with instant credit – free of credit risk
The range of products has increased particularly significantly in recent years, and above all the many small online banks have led to a significant increase in the range of products. But there are also online providers who are self-employed.
The online banks on the Internet are often trademarks of large banks with a permanently installed branch system. Online bank lending is so popular because it has low-interest rates.
It is not uncommon for borrowers to be able to take out an instant loan with no credit risk. The instant loan without Credit Checker does not differ significantly from a conventional direct loan product; the only major advantage is that there is no information from Credit Checker. Since the loan offer without Credit Checker has increased significantly in recent years, borrowers should make use of a credit rating comparison on the Internet, which is not only free today, but also quick and by name.
When comparing several instant loan offers without involving the Federal Financial Supervisory Authority, the interest rate must of course always be taken into account. First and foremost, borrowers should be able to differentiate between debit and effective interest rates. In contrast to the borrowing rate, the effective interest rate is variable and can, therefore, differ considerably.
The effective interest rate is usually a variable interest rate
In addition to the borrowing rate, other features are taken into account in the effective interest rate: For example, the effective interest rate is largely determined by the loan amount, the duration, the creditworthiness of the borrower and the fees charged by the house bank.
Because an instant loan that is granted credit-free is not subject to a credit check, high-income borrowers can get a particularly low-interest rate. The effective interest rate is also significantly influenced by the maturity and the loan amount. Particularly favorable interest rates are available to all borrowers who have opted for a short-term and favorable loan situation.
The main reason for this is the lower default risk for small loans, but not least the lower capital commitment also ensures the lower effective interest rate.
With the help of the credit calculator, the borrower has the option of including individual parameters in the comparison. Including maturity, loan amount and repayment, etc., debtors can quickly select the range of services that best suits their needs.