How does an instant loan with special repayment work?

Private borrowers in Germany no longer just want a loan that can convince with a low interest rate; for many borrowers, application, availability and flexibility in repayment also play a decisive role. The trend in borrowing today is clearly towards online loan products, because these can very often convince with quick and easy application, flexible repayment and low interest rates.

Especially when it comes to the speed of application and availability, instant credit products from the Internet often have the edge. Today, quite a few banks also offer an instant loan with a special repayment. The special repayment proves to be extremely practical for the borrower, because he can make use of an additional and flexible form of repayment. The amount of the special repayment is variable and can be individually influenced by the borrower within a certain framework. It is not uncommon for the special repayment to make up between 30-50% of the remaining debt per year, so the option for the special repayment makes perfect sense.

Instant loan with special repayment – This advantage arises for the borrower

Instant loan with special repayment - This advantage arises for the borrower

As already mentioned, the special repayment is an additional repayment that can be made at the borrower’s discretion. For example, if the borrower can unexpectedly raise money through an inheritance or other circumstances, he can use it to repay the loan. Due to the special repayment, the residual debt can be reduced directly and the loan liabilities can be prematurely released. Since the total interest costs for all loans with installment repayment are determined from the remaining debt, the borrower can significantly reduce the total loan costs through a special repayment.

Secure instant loan with special repayment at a low interest rate – this is how borrowers secure the best conditions

Secure instant loan with special repayment at a low interest rate - this is how borrowers secure the best conditions

Borrowers who want to call up an instant loan with a special repayment at the best interest rates and save a lot of money should of course focus on the interest conditions when making the comparison. The effective interest rate should always be selected as the basis for the loan comparison, as this is variable in amount. In addition to the bank’s borrowing rate and fees, the effective interest rate also includes factors such as term and loan amount and the borrower’s credit rating. In practice, borrowers with a positive Credit Bureau and a high regular income can always secure an instant loan with a special repayment at the best interest rates. The same applies to borrowers who choose a short term and a low loan amount.

Compare instant loans with the option of special repayment – be sure to use the loan calculator

Compare instant loans with the option of special repayment - be sure to use the loan calculator

Only by comparing credit calculators on the Internet is it possible for the borrower to quickly and easily compare several credit products with regard to specific requirements (term, income, loan amount and much more). The loan calculator comparison often allows very low interest rates to be called up.

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