The short-term overdrawing of his account can be expensive. Many banks require immense interest rates for a credit line. Those who want to remedy the high lending rates, should take action quickly.
Who covers his account and the overdraft facility takes, pays high Dispo interest rates generally. The cheapest banks demand six percent , the most expensive providers over 14 percent. If the agreed dipo framework is then overdrawn, some banks even demand up to 20 percent. If you are looking for a way out of the high collection charges, you can temporarily take out a loan for repayment. Even low credit sums can often save hundreds of euros a year.
The consumer center of North Rhine-Westphalia advises consumers, under any circumstances, to use a permanent credit, because even the cheapest credit line is more expensive than a favorable installment loan . The interest rates of an installment loan are sometimes less than five percent. This is 16 percentage points less than the most expensive credit line. Thus, it is definitely worthwhile to end the overdraft of the current account by rescheduling.
For consumers, who spontaneously need a little more money on a regular basis, but who usually pay for it quickly, there is also a way out of the high interest on disputes. The Consumer Center recommends in this case a framework loan , which represents a cheaper alternative with a fixed interest rate . With good credit rating can be with some banks a so-called call facility agreed. Compared to the credit line, a call-off loan is cheaper and can be redeemed at any time. Stiftung Warentest comes to this conclusion and believes that call-off loans are a sensible alternative to discretionary credit.
However, anyone who moves more often in the MRP area or even lends money beyond his credit line should absolutely compare the terms of his bank with offers from other banks. Because it makes itself felt, whether one must pay six or 20 per cent on lending rates for 1.000 euro , makes in the year already a sum of 140 euro. Who does not want to save them?