Interest free credit

Interest free credit

The interest depends on maturity and creditworthiness. It is a normal installment loan with a fixed interest rate and an agreed monthly repayment rate. It is a normal installment loan with a fixed interest rate and an agreed monthly repayment rate.

Respond to the current interest rate on loans

Respond to the current interest rate on loans

Thus, the interest rate was lowered by a good 40 percentage points, previously it was 13.9 percentage points. In addition, the expenses for the services of the “super deal” are converted. The loan offers include micro-loans from EUR 100 to max. EUR 600 with a repayment term of max. 60 days.

Respond to the current interest rate on loans

Respond to the current interest rate on loans

Thus, the interest rate was lowered by a good 40 percentage points, previously it was 13.9 percentage points. In addition, the expenses for the services of the “super deal” are converted. The loan offers include micro-loans from EUR 100 to max. EUR 600 with a repayment term of max. 60 days.

Small loans: 10% interest is more than enough.

Small loans: 10% interest is more than enough.

For micro-loans, which are paid in cash, the federal government sets the maximum rate down – a double positive decision. The consumer will have less interest, and banks and credit institutions will take applications more seriously because they can no longer easily cover any impairment with excessive interest income. While investors hardly receive any return on their savings banks, savings banks and lending institutions were able to keep the interest rates on small or consumer loans at a higher level:

You can raise up to 15% interest on these loans, which is a tremendous value in terms of all other interest rates. Fortunately, the Federation has followed this request today, limiting the interest rate on cash loans to 10%. For credit over a card, a maximum of 12% interest can be charged. SKS Managing Director Sara Meldez is convinced that this is a good innovation for consumers: “Consumers no longer have to pay such a high interest rate on microloans – but in our view, confident an interest rate of 5% still.

This also benefits consumers, as the lower interest rate does not encourage them to be careless about borrowing.

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