Consumers looking for flexibility in lending typically receive arbitrary repayment terms or loan installments that can be customized. Loans with flexible repayment are rare.
In this variant, the banks would often have to wait too long until they would get the money back. Anyone who asks or intensively searches, but still has the option of a flexible repayment with the account-holding bank or online and direct banks.
Credit with flexible repayment – disposition credit from the house bank
Consumers who apply for a loan to their bank will receive a classic installment loan if they have a good credit rating and a positive private credit. For this loan, fixed interest rates and installment payments are always agreed over the entire term of the loan.
Loans with flexible repayment are usually not available at the house bank. An exception is the disposition credit. This loan is granted to bank customers with good credit requirements. For business customers, this form of credit is termed overdraft. The amount of the loan is freely negotiable. Usually, the loan amount is two or three monthly salaries.
An installment payment is not agreed for the so-called Dispo. The special thing about this loan is the very high interest rate. For almost all banks, the APR is in the double-digit range. Settlement of the disposition credit always takes place quarterly. Bank customers should therefore only choose this type of loan in emergencies and, if possible, clear out the current account within one quarter.
Online and direct banks – flexible repayment through installment breaks
Loans from the Internet are becoming increasingly popular with consumers. According to the reports of many Internet portals, every fourth loan comes from an online or direct bank.
Due to the great competition, the banks must be able to offer the consumers not only favorable interest rates but also various special services. These include, for example, installment breaks or the early repayment of the loan. These loans with flexible repayment can be easily applied for on the Internet. For the application, the online and direct banks provide an application form on their websites.
With the input of the personal data a private credit clause is signed. If the private credit information is positive, the applicant will immediately receive a message with a preliminary loan commitment. A disbursement of the credit can take place only after a final check of the credit rating. For this credit check, the banks need the last two or three proofs in copy. In some cases, applicants must also submit current bank statements. The payment is made to the current account of the applicant.
Find loans with flexible repayment – credit comparison on Creditend
The large supply of online loans, consumers can quickly lose track. A simple credit comparison on a credit portal like Creditend can provide clarity.
The comparison pages of the credit portal are equipped with a loan calculator that is very easy to use. For a comparison of the numerous loan offers the loan amount, the proposed credit period and the intended use entered into the calculator. Immediately after entering, the consumer will be shown online and direct banks eligible for a loan. For the credit comparison, the loan offers contain various information.
These include the name of the bank, the product details, the tied borrowing rate, the monthly installment and the APR. Loans with flexible repayment are very easy to find. The details of installment breaks, special repayments or even early loan repossessions are noted in the product details. Consumers should always take into account the annual percentage rate of charge for these special benefits. This interest rate always includes all costs incurred. Loans with flexible repayment are requested online immediately.
Compare loans – address special conditions when applying
The best-known loan with a flexible repayment is the disposition or overdraft facility. If you are looking for a flexible repayment at your local bank or a conventional branch bank, the client advisors should contact the institutes directly. Verbally made agreements must always be fixed in writing. Consumers looking for a flexible installment on the internet can study the product details of online and direct banking.
This is easiest possible with a credit comparison. In the case of credit agencies or on credit markets, these flexible repayment loans tend to be unavailable.