What are the characteristics of an installment loan?

Installment loans are the most common and best known form of credit. An installment loan can be applied for quickly and easily online. A credit institution pays an amount of money to the borrower and then the borrower repays that amount plus interest over a specified period in monthly installments. When paying the installments, one speaks of the repayment.

A payment plan is drawn up when the loan is taken out. Monthly repayments are usually expected, but there are also so-called repayment-free months. With this plan, the borrower knows exactly when and how much money is due and can plan the finances.

An installment loan as a quick solution to financial bottlenecks

An installment loan as a quick solution to financial bottlenecks

Sometimes life turns out differently than you think and suddenly the financial situation looks difficult. The laptop suddenly breaks, the car needs repairs or the washing machine gives up. We all know these situations. With an installment loan, the financial emergency can be bridged quickly and easily. An installment loan is usually significantly cheaper than an overdraft facility or overdraft facility and with our loan comparison you can easily compare the various credit institutions with each other.

Installment loan without restrictions for all wishes

Installment loan without restrictions for all wishes

An installment loan can be used for almost all possible wishes and needs. You can choose a free use from many online providers and simply fulfill your every wish. The most common uses for installment loans are very broad, ranging from a few euros to long-term investments.

The best term and rate for your installment loan

The best term and rate for your installment loan

How do you calculate the loan that is best for you? There is a simple formula: your total income minus the fixed and living expenses. You should also install a safety buffer. You will then receive your maximum credit installment. Whether you really choose the highest rate depends on whether you can save well and that there are no unexpected costs.

Perhaps it is better to choose a longer term. The basic principle here is: the longer the term, the lower the monthly installments. However, this makes the loan more expensive. With a short term, however, you have a higher financial burden due to the more expensive monthly installments. It is important to consider whether you can and want to pay off the loan within a short period of time or whether the higher costs of the longer term are worthwhile because you have more peace of mind and less stress when repaying.

Get a good and easy installment loan quickly

Get a good and easy installment loan quickly

We have some tips for you on how to find the loan that is most suitable for you quickly and easily.

  1. Compare the offer online! You can use our comparison calculator free of charge. You can save a lot of money quickly and it is very easy to get an overview of the offer.
  2. Get multiple offers! You can apply for your loan from various providers online and wait for the definitive offer to then accept the best offer.
  3. Don’t get up from the couch! Weird sounds? We naturally think that you should apply for your loan online. Online loan offers are not only easier to find and faster to apply for, but also often cheaper, as credit institutions have less administrative work thanks to digitization.

Installment loan immediately and without a consultation

Installment loan immediately and without a consultation

The credit providers online have the additional advantage that you do not have to answer unpleasant questions. Everything is anonymous and you don’t need to have a consultation. Not only is it easier to compare the offer online, you also don’t have to answer the many questions asked by bank employees.

The difference between installment loan and instant loan

The difference between installment loan and instant loan

Don’t get confused! Consumer credit, consumer credit, instant loan, loan, online loan, car loan, small loan and many more terms are used when we speak of installment loans. They all mean the same thing and the most important thing is that you take a close look at the offers and choose the one that best suits your situation.

What does a fast installment loan cost?

What does a fast installment loan cost?

In the case of installment loans, the interest rate is the decisive factor for the costs that you will face. Interest rates for individuals vary from loan provider to loan provider and depend on the term and amount of the loan. Many providers also have the fact that the loans are credit-dependent, which means that they are influenced by your financial situation and history.

The APR shows all credit costs including incidental costs and fees. This makes it the easiest comparison factor when comparing loan prices. With a glance at the effective annual interest rate, you can quickly evaluate the cost of your loan and easily get an overview of the various offers.

But don’t just let the cost guide you. If you urgently need money, other factors such as speed, simplicity (eg purely digital application process) and seriousness of the credit provider can also play an important role.