A loan to clear the current account can be taken at the house bank or any other German bank, savings bank or Volksbank. It is always useful if the credit line has been drawn on and if it is not possible to repay the money in another way medium or short term and bring the account back into positive territory. Before borrowing, it is very important to compare various branch and direct banks. In addition, you may also consider other alternatives such as a personal loan or a loan from a private broker.
For a credit comparison, there are several comparison websites on the internet. It can be done around the clock and every day of the week and on public holidays. This is a major advantage over a direct comparison of local banks. In addition, a credit comparison on the Internet only takes a few minutes and delivers a reliable, cutting-edge result. It can be repeated at any time if you have not found the right loan or if you are looking for a new loan.
In a credit comparison, you should look at the possible loan sums, interest rates, maturities, and other credit terms of banks and private lenders. For a loan to clear the current account, smaller loan amounts in the three- or four-digit euro range are usually sufficient. If you meet the requirements and wish it, you are, of course, free to accept larger loan amounts and to use the money that is not needed for the balance of the current account, otherwise.
A loan may be granted if the customer meets the credit requirements of the bank or the private lender. The credit conditions of German banks, savings banks or local banks are generally very similar. In the vast majority of cases, the loans are only given to employees or civil servants who have a sufficiently high income and also have a positive private credit information. However, a loan to clear the current account may in many cases also be possible for self-employed or freelancers, who are already well-known to the bank and have distinguished themselves by their reliable payment behavior. Further details can be obtained from the banks.
The interest rates for an installment loan are almost always significantly lower than the interest rates for a credit line. For this reason, you can save money in the short- and medium- or long-term by choosing a loan to clear the checking account.
Application, authorization and payment
Similar to any other loan, a loan must be requested to clear out the checking account on the Internet or in the bank branch or the private lender. In addition, the current proof of income and evidence of additional securities must be attached. The loan application will be reviewed within a short time and will be approved if all the necessary conditions are met. Now the money can be paid out. It would be ideal if the transfer is made directly to the checking account, which should be balanced with the loan amount.
The loan conditions are agreed individually. This applies to the loan amount as well as to the amount of the monthly repayment installments, the length of the term and other important details on borrowing and repayment.