Home Help Center Installment Loan Interest Rates and Terms Question

Home Help Center Installment Loan Interest Rates and Terms Question

For most installment loans, the interest rate is credit-dependent. Depending on the creditworthiness, each borrower receives an individual interest.

The credit-independent interest rate, on the other hand, is a standard interest rate. All borrowers receive the same interest rate. Nevertheless, the creditworthiness of the applicant is not important. After all, even banks with a credit rating-independent interest grant banks only if the borrower has sufficient creditworthiness. The bar is often higher for credit-independent loans.

For while banks can offset a higher credit default risk by a higher interest rate on credit-based lending rates, such a risk-off is not possible for credit-independent loans.

With an appropriate filter setting in the credit calculator on Verivox.de, interested parties can search specifically for fixed rate offers.

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