However, they can not take into account how the banks to be compared assess the creditworthiness of those seeking the best interest rates. The credit of a bank and the creditworthiness for the individual customer depends essentially on the creditworthiness of the customer, ie his credit rating. The results of operations determine inter alia the lending and the interest rate dependent on the creditworthiness. Find cheap loans with the installment loan calculator. Today you are spoiled for choice and can quickly and independently compare the best online loan options between many banks.
Which financial institution has the best interest rates?
It is known that interest rates on personal loans depend on the creditworthiness of the debtor. Nonetheless, many Internet portals feel that their comparison calculators and tables make it very easy to find out which bank offers the lowest interest rates on loans. However, they can not consider how the bank to be compared assesses the creditworthiness of those seeking the best interest rates.
As a result, they usually compare loan interest rates, which credit institutions identify as the cheapest interest rates for customers with high credit ratings. If the adjustment relates only to the minority of allegedly loan-independent loan offers, credit institutions offering the best interest rates on loans are certainly excluded (see also reconciliation of non-credit and credit rating-dependent loans).
To what extent a bank determines your creditworthiness, ie which it assigns to you on the basis of your individual circumstances, is completely unclear. The bank can act as if it had the cheapest interest rates on loans, but then demand from the individual the desired high interest rates for allegedly insufficient creditworthiness. The risk premiums for real credit deficits are also calculated differently from bank to bank.
For example, for a borrower with a high credit rating, one bank may be the cheapest, while another bank may be the cheapest if credit is bad. Some banks are trying to attract particularly many low-interest clients and then convince as many people as possible of the expediency of a higher interest rate for lack of creditworthiness. 2. The others prefer not to pretend that they have the cheapest interest rates, so that not so many consumers jump out because of higher interest rates on loans.
Therefore, credit institutions that do not talk about lower interest rates than the lower limit are among the cheapest. The less a bank can take on the loan, the lower the loan amount and the repayment term. For this reason, the best interest rates are to be expected for medium-sized loan amounts and due dates. The reason for this is that there are no significant personnel costs for the individual support of the client locally.
Ultimately, it’s just a matter of “Which bank has the lowest interest rate on your personal loan needs”? Anyone who needs a loan amount must be subject to or relinquished to the bank’s corporate policy. If you really want to know which bank has the best interest rates for you, you can only proceed as described in our article “Only then can you find the cheapest loans …”.