Many bank customers have been able to recover their processing fees, which have therefore been unduly paid, from the bank. So, if you currently encounter an offer in the personal loan sector where the bank charges processing fees, you should either alert the bank to the improper nature of these charges or opt directly for another offer that does not require additional fees. The 100 loan is quite effective in this case.
In connection with the taking up of personal loans, some customers complain that they will only get the loan from the bank provided that residual debt insurance is taken out. In principle, the lender is of course entitled to make some conditions for the lending. The demand for the conclusion of credit insurance is quite understandable, because after all, this insurance protects not only the bank in case of loan defaults, which occur because of the borrower. For example, he becomes incapacitated or even dies.
Therefore, it is quite controversial whether the residual debt insurance is in principle a sensible hedge or from the customer’s point of view only a superfluous issue. Every individual case must certainly be considered here, because, for example, those who already have occupational disability insurance and term life insurance need in rare cases additional residual debt insurance. However, it is also true that some banks act consistently and do not carry out the lending should the borrower refuse to take out such insurance.
Numerous offers in the consumer loans category: Credit comparison makes great sense
By far the majority of banks today offer a consumer loan in some form, whether as consumer credit, installment loan, purchase loan or on-demand loan. Due to this extensive offer, almost all experts recommend that you first compare the offers before taking out a personal loan. The loan comparison offers the chance to compare 20, 40 or even more loan offers in one go. However, it has become problematic in recent years that more and more banks are pricing in credit-based interest rates, making a comparison difficult. Only one interest margin can then be specified in the respective credit calculator, because only the creditworthiness of the customer actually determined by the lender results in the interest rate to be paid being determined.
Nevertheless, a comparison of the offers is still effective and useful, because so at least the relatively expensive loan offers can be sorted out directly. Consumer advocates recommend carrying out at least two different comparisons, as the credit comparisons on the various portals differ in terms of quality. For the top three offers that you identify on the basis of such a credit comparison, it is advisable to make an individual loan request. This is also conditional on the bank estimating a credit-based interest rate. Then you can let submit by filing various documents, which interest rate you would have to pay in the specific case.
Conclusion on personal loans
Personal loans are by far the most frequently used types of loans, be it in the form of a consumer credit, an installment loan, a consumer credit or an acquisition loan. All these different names basically signify one and the same type of loan, namely an installment loan that is given to private individuals. On the one hand, the extensive range of the banks is good for the customer, as there are very favorable offers due to the high competitive pressure.