Loans offer various options for realizing different types of financing. They can be used for various purposes, from construction finance to consumer finance. But covering expensive purchases with a loan also involves risks. That is why thorough planning is essential when taking out a loan. Taking out a loan requires careful consideration and testing by the customer

Anyone wishing to take out a loan should, regardless of the size of the loan amount, obtain extensive information about the various possibilities and dangers. Because taking out a loan is determined by several factors and can therefore be very complex. Taking these factors into account when planning is essential for a successful and stress-free repayment of the loan.

Considerations in advance

Before you think about taking out a loan, you should do an honest and realistic budget calculation to answer the most important question: Can I be responsible for a long-term financial burden caused by a loan? If the answer is positive, you should get an overview of the various loan offers. This is important because your own bank does not necessarily offer the best conditions. However, loan comparisons can now be carried out quickly and easily on various comparison portals on the Internet. The monthly repayment amount, the term, the total amount and the amount of the APR are the most important factors to consider.

Collateral for the bank

When applying for a loan, the prospect is checked by the bank for collateral. A creditworthiness check is initiated to check the creditworthiness and liquidity of the applicant. In any case, proof of income from the bank’s employer must be presented. In addition, the bank requests credit record information for larger sums. If you do not have sufficient creditworthiness yourself, you can increase your credit opportunities by involving a surety.

Repayment terms for loans

Money bonds with a longer term and a higher amount are associated with risks for both the bank and the applicant. In order for both parties to be able to enter into a loan contract with good security, clear repayment terms must be set out at the beginning. In addition to the amount of interest, you have to clarify the monthly installments and other costs and fees. Large financings can be significantly supported by equity. The greater the equity, the greater the security for the bank and the better the conditions for the prospective loan. In addition to saved equity, the loan conditions can be improved through fixed interest rates and special repayments.

 

With the Agree Bank student loan, special repayments are possible at any time and without additional costs. The Agree Bank product “Student Loans” – without a state guarantee – is active. This means that an education loan can have a maximum side effect, especially for LL.

Educational loan

If you need a support measure for your education, you can submit an education loan. The education loan helps you to promote your school education or your life. Your salary and your capital or that of your legal guardian are generally irrelevant for the granting of an educational loan. However, you have no legal right to the education loan.

The educational loan can be granted as a loan up to an amount of $ 7,200. In the case of a degree program, the scholarship can initially only be granted until the end of the twelve. University semesters are awarded. From the end of l. University semesters you have to submit your application for the final exam and the opportunity to complete your professional training within the possible funding period (24 months).

In school-based vocational training, an educational loan can only be granted in the past 24 months. In addition, you must complete your vocational training with a professional qualification certificate or have already completed a professional qualification certificate. The training must be permitted according to German state funding. Even if you study at a foreign university, you can get an educational loan.

The educational institute abroad must be classified as equivalent. Fine Bank pays you the education loan in monthly installments of $ 100.00, 200.00 or 300.00. The repayment amount is $ 120.00 per month. You can pay off the loan in whole or in part without any additional costs or fees.

Interest is deferred for the duration of the transaction.

Applying for an education loan

Amount: Type: Your salary and assets as well as that of your legal guardian, spouse or partner are irrelevant for the approval. Please note: There is no legal right to an educational loan. You can also submit an education loan for a second or subsequent apprenticeship. The educational loan can only be drawn on until the end of the 12th semester.

The education loan can still be granted if you have completed your education within a maximum of 24 months after approval. Interest on the lending business is payable from the time the loan is granted. Repayments are collected quarterly by the credit institutions at the end of each quarter. If you receive a new grant for an additional period of training, the repayment rates will be postponed.

You are completing a full-time vocational training that you can achieve with a successfully completed school qualification. You must provide a certificate from the training center without a mandatory preliminary examination, physics diploma or intermediate diploma that you have been used to the usual activities in the first two years of training, that you will join domestic and international (including outside Europe) as part of your internship.

Note: If you study in a foreign country, the foreign training facility must correspond to a domestic educational institution. For stays abroad: for internships: for schoolchildren additionally: a school leaving certificate (not longer than 3 months) with details of the total duration and the desired degree; if applicable: Evidence of an existing vocational qualification if your vocational training is completed with a general educational qualification (e.g. Abitur).

You must apply for the educational loan in writing. You will submit a written decision after the application review. In the event of approval, you will also receive an order offer from Agree Bank. If the signed rental agreement is received by Agree Bank within the specified time, the loan agreement is concluded. Note: Please refer to the approval notice for the deadline within which the signed rental agreement must have been received.

The credit institution is responsible for you in the further process (e.g. conclusion of contract, advance payment, recall).