Disbursed loans are among the most expensive loans that can be claimed from banks through their own current account. The reason for this lies in the comparatively high level of flexibility, which on the one hand allows the bank customer to avail himself of the loan as needed and to pay it back when the money is received. On the other hand, the bank does not know, due to the scarcity of planability, when it can count on incoming and outgoing payments of which amount. This in turn is reflected in the high interest rate, which averages 10.2 percent and can be between 5 and 14 percent. If the account is overdrawn, and the credit line has been used in excess of the agreed credit line, interest rates will increase again. Especially today, however, the interest rates for medium to long-term loans are particularly favorable, as current credit comparisons show. So if you want to repost the credit line, you can save money afterwards.
Better budgeting through fixed rates and regular installments
If you use an installment loan to repatriate a credit line, there are no longer any “surprises” about the interest rate. Most installment loans are given with fixed interest rates. Once agreed, nothing will change for you over the entire term. As a result, the monthly installment payments remain constant in terms of amount. As a borrower, you know exactly how much your monthly budget will be charged and you can plan accordingly. Redirecting the credit line not only saves money, but the finances are also clearer afterwards. More about rescheduling can be found here.
Debt rescheduling via personal payday loan
The system should only be used in the event of liquidity bottlenecks and then be compensated as soon as possible. For larger purchases, it is advisable to take advantage of a cheaper installment loan in order to avoid excessive interest charges from the outset. If you do not want to raise the installment loan with the bank, you can also borrow money privately. This option is particularly interesting for self-employed and freelancers, as they usually have no regular income at a constant level. Here you can also easily repost a credit line. If you are interested, you can use Rose Dimmensdile’s loan comparison to get an initial overview of the terms and then apply for a personal payday loan online when needed.