Today, more and more private individuals are using overdraft facilities at least once in their lives. The disposition loan proves to be a helpful instrument for short-term financing, especially when consumer goods are to be purchased and smaller investments are to be made. However, if the overdraft facility cannot be repaid as quickly as originally planned, then the cost of the loan increases quickly and the overdraft facility is often a very cost-intensive affair.
In the medium and long term in particular, it is therefore worthwhile to offset an overdraft facility with a loan. Those who want to offset an overdraft facility with a loan have numerous options available today. More and more banks and savings banks are now offering a loan specifically to compensate for a credit facility or a loan with free use.
Anyone wanting to offset an overdraft facility with a loan should of course always pay attention to the interest rate, only if the interest rate for the loan is below the previous overdraft facility does rescheduling of the loan make sense. The numerous online banks on the Internet in particular can score points today with incredibly low interest rates, simple applications and quick availability.
This should be taken into account when choosing the loan
In order for the balancing of a overdraft facility with a loan to make sense, borrowers should pay particular attention to a low effective interest rate when comparing.
The effective interest rate is actually variable for all credit products today and can be very strongly influenced by the borrower. In comparison to the borrowing rate, the effective interest rate takes into account not only fees and risks, but also the credit framework and the creditworthiness of the borrower. By choosing a short term and foregoing a high loan amount, borrowers can often secure a very low effective interest rate. However, creditworthiness also has a significant impact on the effective interest rate and the total loan costs. Borrowers who can provide evidence of a regularly high income and positive Schufa information can also hope for a low effective interest rate.
Overdraft facility with another loan
In order to be able to replace the overdraft facility with another loan as quickly as possible, borrowers should use one of the numerous online loan offers today. The loan offers on the Internet can score not only with a low effective interest rate, but also with a very simple application and quick availability. Due to the immediate availability, quick action is possible, especially those who have previously used a very cost-intensive credit facility can save a lot of money this way.
Settlement of overdraft credit by credit – carry out a credit comparison with a loan calculator beforehand and save a lot of money
In order to find the cheapest loan to compensate for a overdraft facility, borrowers should make use of a loan comparison on the Internet. Numerous financial portals now offer borrowers the opportunity to take out a loan, taking into account the term, loan amount, income and much more. to look for. By using a loan calculator, a lower interest rate can usually be called up again and the total loan costs can be significantly reduced.