Top provider for loans Whether a small “household loan”, low-interest car loan or long-term real estate loan – the financing offers in Germany are very diverse. The numerous credit providers have specialized in certain sectors or even niches in order to stand out from the competition in at least one segment. A credit comparison is therefore worthwhile for consumers. Who actually writes and advises here? About us
Which loan provider is right for me?
The house bank
Borrowers often choose to go to the house bank first. The processes are known here, sometimes there is a permanent contact person. Basic data is already available at the house bank so that the desired products can be selected quickly and easily.
The big disadvantage of a house bank is the choice: Of course, the clerks only offer in-house products, no third-party products. After visiting his house bank, the customer does not know whether there is currently a cheaper loan from another provider.
Direct banks only offer their products on the Internet. So these are purely online loans – a conversation with a bank employee is not necessary. One of the great advantages is the possibility to go through several financing options in peace and without time pressure.
By processing over the Internet, direct banks save personnel costs and pass this savings on to customers in the form of lower lending rates. The processing time from application to payment is usually shorter than that of the house or branch bank.
Which loan providers are reputable?
All branch banks and the credit providers listed in the comparison portals have been checked by the supervisory authorities and are generally considered to be reputable companies. These have a place of jurisdiction in Germany, a valid imprint and can be reached via several contact options. The terms of the contract should be transparent, show the annual percentage rate and contain no hidden costs.
Loans that appear as small-format and “cheap” advertisements in newspapers and magazines should generally be rejected. There is a great risk of falling for a “loan shark” here.
Customer opinion and complaint statistics
There are several ways to assess the loan provider
On the websites of the comparison portals, it makes sense to analyze customer ratings. Even if these were created subjectively, the borrower can get an idea of the respective provider.
The Federal Financial Supervisory Authority (BaFin) is a good and neutral point of contact. This keeps complaint statistics for banks and insurance companies. Based on their quota, it is also possible to find a good provider.
By comparing the loan providers, it is quite possible to get a tailor-made loan on fair terms. A critical look at the terms of the contract and your own financial situation protect against nasty surprises.