Credit bureau still played a crucial role in lending today. Even today, numerous banks and savings banks do not do without Credit bureau as a means of checking creditworthiness. As a protection association for general credit protection, Credit bureau collects all data that could be important for lending.
However, since Credit bureau is only of limited informative value, various providers willingly forego Credit bureau today, precisely because more and more borrowers have negative Credit bureau, banks are reacting to the newly created target group and are also offering an installment loan despite negative Credit bureau.
Borrowers can benefit from relatively similar conditions here, but they usually have to expect a higher interest rate. Anyone who wants to avail an installment loan despite a negative Credit bureau can now look forward to a wide range of offers and a constant interest rate level, but the high offer also has a decisive disadvantage, the comparability has decreased significantly.
Find installment loan despite a negative Credit bureau through a comparison on the Internet – that’s what matters
When comparing several loan offers, borrowers should focus in particular on the effective interest rate. Compared to the borrowing rate, the effective interest rate covers all costs associated with borrowing. In addition to the additional application, administration and provision fees, individual credit framework conditions such as term and loan amount are also recorded here.
Last but not least, creditworthiness is also taken into account. In the case of credit offers without Credit bureau, Credit bureau information is never used for the credit check, especially borrowers who have a high income can still benefit from attractive interest rates here. Maturity and loan amount influence the effective interest rate in that they define the risk that is taken with the bank’s lending.
Borrowers who choose a loan with a short term and a low loan amount can benefit from significantly lower interest rates than borrowers who choose a long term. Large amounts of credit and long terms are usually associated with a higher credit default risk, which is of course also reflected in a higher effective interest rate.
Find installment loan despite the negative Credit bureau with the best conditions – make comparisons
If you want to secure the lowest interest rate permanently, you should definitely use the online loan comparison with a loan calculator. The comparison with a loan calculator makes it possible to make a comparison taking into account individual variables, such as the term, loan amount and repayment. In this way, the borrower can quickly narrow down the search and permanently secure the best individual offer. The comparison on the Internet is not only free of charge, but also quick, easy and anonymous.