Loan without intermediaries and prepayment

When it comes to the factors that affect the amount of credit costs, it’s not just the interest that needs to be paid, but depending on where the loan is applied for, there may be other fees that need to be paid.

Loan without intermediaries

Loan without intermediaries

Consumers who want to take out a normal installment loan can apply for a loan without an intermediary if they try to do a free loan comparison to find the bank that lends on favorable terms. As soon as a credit broker is commissioned to give you a cheap loan, the extra costs because the credit broker charges a commission for its services, which the borrower then has to pay as a surcharge on the installments.

The consumer gets a loan without an agency fee from Agree banks. It is a different matter if you want to apply for a loan without Credit bureau. Loans without Credit bureau are granted by foreign banks, but never in direct contact with the customer, but such inquiries must always go through a credit broker.

Choosing the Right Credit Broker

Choosing the Right Credit Broker

When it comes to Credit bureau-free loans, a credit broker must be involved, otherwise nothing works. For the consumer, the question is which credit intermediary to turn to because the internet is full of offers, but not all credit intermediaries work properly. There are a number of black sheep among credit intermediaries who are not really interested in brokering a loan, but rather in making a lot of money with their customers.

Therefore, only brokerage offers should be used, in which the loan is brokered without prepayment . If a credit intermediary charges fees from the customer before it becomes active, this is not serious, and such offers should be avoided. This also applies to credit brokerage offers where customers have to call an expensive hotline beforehand or receive cash on delivery documents for which payment has to be made without knowing the content.

Reputable credit brokers create their non-binding loan offers free of charge and only charge the loan brokerage fee if they actually broker a loan.

If consumers who want to take out a loan without Credit bureau follow these instructions, they cannot avoid the agency fee, but they only pay for a service that is actually provided. The agency fee is an additional cost factor that adds to the interest and processing fees. Therefore, the loan without intermediaries is usually cheaper, but this only works if it is a normal installment loan from Agree banks. But there are also cheap and less cheap loan offers at Agree banks and there are a few things for consumers to consider when it comes to saving credit costs.

Installment loan without processing fee

Installment loan without processing fee

Agree banks often offer their loans cheaply. Based on the annual percentage rate, which is a percentage, the consumer can compare different loan offers by making a free loan comparison. The APR includes the nominal interest rate and the processing fee charged on the loan. This amounts to between one and three percent of the loan amount. Consumers can save money if they take out an installment loan without a processing fee if possible, but should not ignore the APR. Advertising alone, which promises the loan without a processing fee, is not the main criterion, but the effective annual interest rate must be particularly cheap on the one hand and no processing fee may be charged on the other.

In the case of loan offers with the same interest rate, the offers without a processing fee are preferable to the offers with a processing fee. If the bank does not charge any processing fees, the borrower will benefit from the same effective interest rate if the loan is repaid early. Because unlike the interest that is calculated back, the processing fee is a quantity that is raised once and then lost forever, even if the loan is canceled after a short time. You can therefore save money in advance if you take care when taking a loan comparison to take out a particularly cheap loan for which no processing fees are charged.

Getting a loan for a freelancer is not easy

Basically, getting a loan for a freelancer is not easy. Many banks or savings banks shy away from the risk associated with an unsafe and sometimes constantly fluctuating income for freelancers. This often leads to the fact that they are very hesitant or do not grant a loan to freelancers. The situation is particularly difficult if for some reason there are negative Credit bureau entries, the cause of which cannot be eliminated in the short or medium term.

Requirements

Requirements

If you want to get a loan as a freelancer, you have to prove an income that can cover not only the personal and family livelihood, but also the loan installments. If there are legitimate doubts, the bank will reject the loan application. Otherwise, they would have no certainty that they would get their money back properly and on time. If a suitable branch or direct bank is found that would be ready to grant a loan, the freelancer would not only have to submit an application, but also have to enclose various documents that the bank can use to easily check whether the requirements for a loan are met .

These documents could include not only the bank statements of the last three months and the last income tax assessments, but also the profit and loss account or the income surplus account. If necessary, it may also be necessary to provide additional collateral, a second applicant or a guarantor. This could often lead to the fact that a loan for freelancers, which would otherwise have to be rejected, can still be approved.

Application, approval and repayment

Application, approval and repayment

Similar to any other loan, a freelance loan is paid out within a few hours or days. The loan amount is usually freely available. In this context, it is important to ensure that a private loan can only be used for private purposes and a business loan can only be used for business purposes. The banks attach great importance to an appropriate separation.

If a loan is used for purposes other than that of the freelancer, it can be terminated by the bank with immediate effect. There are several reasons why a freelancer needs a personal loan. These reasons often differ only slightly from the reasons that also motivate a worker to take out a personal loan. For example, various consumer wishes can be satisfied, vacations can be financed or larger purchases can be made.

A loan for freelancers must be repaid in monthly installments. These rates remain the same throughout the term. The question of whether and how much the income of the freelancer fluctuates does not matter at all. For this reason, every freelancer should critically question whether he really sees himself able to pay regular loan installments over a period of several months or several years. Otherwise, he should prefer to refrain from borrowing and wait until the financial situation has improved and largely stabilized.