The offer of your own bank does not seem very cheap, the offer of the bank next door is linked to various conditions such as insurance, with the third bank you have to open your own account – you can spend a lot of time looking for a cheap loan. It is not clear whether you can actually find something suitable. A real alternative are credit comparison portals that compare the offers of small and large providers.Taking out a loan needs to be carefully considered
This is how a credit comparison works
Credit comparison portals work like a search engine. The user enters various parameters anonymously and without obligation. This primarily includes the loan amount and term. The credit comparison portal then searches the Internet for the best individual offer. Hundreds of providers are compared in a matter of seconds – a comparison that would not be possible manually. A comparison by hand would be extremely time consuming. The interested party would have to open the websites of hundreds of providers and write down their offers.
A fundamental advantage of credit comparison portals is their efficiency. The consumer is only shown the offers that he can actually get. The search result list opens up immense transparency: The user can objectively understand the search and recognize that he has really only been shown advantageous offers.
Special offers on the comparison portals
The basic advantage of loan comparison portals lies in the high level of user friendliness and the listing of really attractive loan offers. Apparently small differences in interest rates can develop into considerable sums over months and years.
Many credit institutions have negotiated exclusive interest rates with comparison portals. These are only offered on the credit comparison portal. The user of the comparison portal receives the cheapest offers available on the market. If necessary, the search for the right bank is accompanied by a neutral credit advisor. This is independent and does not try to trade a maximum profit for the bank. Therefore, online loans are often cheaper than loans from the house bank.
Direct banks with advantages
Many people do not trust online credit comparison portals and credit institutions. However, the concern is unfounded. No contract is concluded with a credit comparison itself. The use of the offer is absolutely free, non-binding and anonymous. The loan agreement is concluded with the respective financial service provider.
Behind the financial service providers are banks, some of which adjust their interest rates for the Internet in order to withstand the tough competition. Some banks are also purely online banks, so-called direct banks, which have no branches. The associated cost savings are passed on directly to the end user through low interest rates.
It’s worth taking a closer look
If you want to take advantage of the offers of a credit comparison portal, you have to remember that these are initially only “shop window offers” that are only available under optimal conditions such as B. have an excellent credit rating. The offers that are actually available are only displayed when personal data has been entered – just as it is when applying for a bank branch. Ultimately, a credit agreement is only concluded after an application and written approval by the bank.
The abundance of loan offers on the Internet is so great that laypeople can hardly get an overview. The search can be made easier by a loan comparison portal. This guarantees that every offer is included in the comparison. A credit comparison is therefore extremely effective.