Checklist: This is what a good cash loan should look like today
(djd). Anyone taking out a cash loan – for example to buy new furniture – wants to take advantage of the cost advantages. Direct banks, for example, offer their services via the Internet or telephone – this saves money. Many of them pass these savings on to their customers in the form of favourable conditions. “However, low loan interest rates are not everything,” explains Ulf Meyer, Managing Director of Süd-West-Kreditbank (SWK Bank). Especially when it comes to cash loans, one should take a close look.
Cash credit checklist
– The cash loan should include a special repayment right. “This will make it possible to reduce future instalment payments and thus save interest,” says Meyer. If you still have money in your account at the end of the month, you could easily put it into the repayment of the loan.
– The credit contracts should contain fixed interest rates, the banks speak thereby also of ?bound interest rates? Thus one makes sure that it cannot come during the running time of the credit to any interest increase.
– A good consultation around the credit desire is important. Above all, the term and repayment must match the financial possibilities and living conditions. Some direct banks offer comprehensive advice here.
– Rapid processes in communication with the bank are important so that the customer has planning security. “In addition to a quick identification check, it should be possible to approve the loan and above all to pay it out within a short period of time,” advises Ulf Meyer to check the “small print” before taking out a loan.
– Meanwhile, there are also time-saving ways for the legitimation process. For example, SWK Bank offers new customers the opportunity to quickly confirm their identity on their computer. Only a web cam is required for this new procedure. The time-consuming so-called Post-Ident procedure in the post office is no longer necessary. “The customer receives the online credit approval after just a few seconds. Payment is made two days after the application documents have been received by the bank,” says Meyer.
It’s worth comparing
Loans are cheaper than ever. Cash loans are also offered at historically low interest rates. But consumer protectors recommend it: Customers should take a close look and compare. “We are not investing in brand campaigns and expensive advertising spots, but in processes that further increase our customer satisfaction,” says Ulf Meyer, Managing Director of SWK Bank, for example. “Our recommendation rate is therefore 98 percent. Over 10,000 customers have rated us. The TÜV analysis showed a school grade of 1.58.” This provider also offers cash loans from an effective annual interest rate of 2.8 percent. Special repayments are possible at any time in any amount – without additional fees. Information: http://www.swkbank.de.