Many people planning to borrow are drawn to their local bank first. There, they may not get the most favorable terms, but they have a clerk or officer they've trusted for years at their fingertips. In a personal conversation all questions can be clarified. However, in this case, financial irregularities of the past often come to the table, possibly a credit check is carried out via schufa and finally everything fails because of a problem that the person seeking credit thought had been solved long ago. Or the house bank takes a juicy interest surcharge, because somewhere in the past financial irregularities were present and / or no reserves are present.
Borrowing yes or no: the pros and cons
Maybe the bank is right and a loan is not a good idea in the current situation. Finally, everything that is financed by a loan is somewhat more expensive than without a loan. Because there is always the interest and sometimes other fees added. Who is anyway in a financial bottleneck, should therefore check two points beforehand: can the desired project also be financed by cutting back on the expenditure side, i.E. By increased frugality? And how necessary is the planned purchase at all? If it's an urgent heating repair – or a new, state-of-the-art TV set that doesn't necessarily have to move into the living room now?
An online loan as an alternative to the house bank
If you have carefully examined your own financial situation and the necessity of taking out a loan, you can turn to an online financial service provider as an alternative instead of the house bank. In contrast to the local bank, such service providers seem rather remote, few people have already established a relationship of trust with such a service. But this should not be an obstacle, after all, it is possible to compare all services and their conditions digitally, from the comfort of your sofa.
The experts of the comparison portal kredit nordic have already pre-sorted and included only reputable providers. Visitors of this platform have the possibility of selecting their on-line credit very purposefully, by considering the different offers in short form and comparing on direct way. In this way, they can quickly and free of charge to the appropriate financial service provider and can enter into negotiations with them.
In most cases, this negotiation is "done" quickly, the most important data is exchanged and the loan is approved quickly. The hurdles are usually relatively low, house banks are much more skeptical in this regard. Also the disbursement usually arrives promptly, often already in the morning of the next day. The advantages of taking out a loan online are therefore obvious, the only thing missing is personal contact. But in digital times, people have already become accustomed to the fact that many processes are initiated virtually and go smoothly in the process.
What speaks for and against a private loan?
One last popular borrowing option should be brought up at the end: how about a private loan? That can be borrowed either from friends and acquaintances or on a crowdfunding portal. Even in the latter version, ordinary private individuals take the position of the lender. The person taking out the loan does not have a personal relationship with these people.
Who turns with its request however to the close circle of friends and relatives, gets itself a new risk with on board. The old saying "money spoils a friendship" has unfortunately often come true, even if it doesn't necessarily always have to come true. The relationship should therefore be on solid footing, so that it is not unduly burdened by the financial transactions. In addition, it is advisable to draw up a written contract, even for personal loans, in order to avoid disputes in advance. Appropriate documents can be downloaded from the internet.
Decision question: are there also bank loans without schufa?
Some people take refuge in a personal loan because their own schufa score does not look good. But this does not have to be the case! There are actually financial service providers who grant loans without schufa, so-called swiss loans. This is usually done online and is based on other collateral rather than the dry numbers from the well-known credit reporting agency. Those who, for example, have a regular cash inflow due to a fixed employment relationship, have the best prospects. As a rule, at least three salary statements are required. In addition, lenders usually set an upper limit for such loans, due to the increased risk for them. The interest rates for swiss loans are usually somewhat higher, but this is also done to compensate for the risk of default.
Thoroughly scrutinize your own creditworthiness
Especially for people with a bad schufa score, it is fundamentally important to check your own creditworthiness skeptically. Can I really afford the repayments including interest in the long term?? Have I left the past difficulties behind me? Every adult person knows himself better than a schufa score can express it, therefore this procedure makes sense.
It is not advisable to take out an overdraft facility (dispo). Nowhere else do such high interest rates apply, in some cases they are over 12 percent. All too often, the high interest burden creates a vicious circle that can only be escaped by rescheduling the debt. But that is already another topic.