An installment loan with special repayment is so clever

Each bank has different terms and different interest rates. But the competitive pressure is very high due to the increased presence of online financial institutions and of course every bank tries to win over new customers and to retain them. You can only achieve this through customer friendliness. This also includes that an installment loan with special repayment is offered free of charge.

Improved conditions bring new customers

Improved conditions bring new customers

So far, banks have had the right to make special repayments well paid for. If a loan is redeemed prematurely, the bank will lose interest. Many financial institutions bring this elimination back in through the fees for the special repayment. For customers who have to pay off a loan from such a bank, an early loan repayment is therefore usually not worthwhile. It is different if these fees are no longer applicable. In this context, one also speaks of a prepayment penalty. This is exactly where the banks start when it comes to customer acquisition. They deviate from normal practice and offer an installment loan with special repayment free of charge.

Trust is good, comparison is better

Trust is good, comparison is better

Anyone who advertises with free repayment options does not necessarily have to be better in the remaining conditions. Many banks take more interest or do not offer to suspend rates once a year. If an installment loan with a special repayment is desired, only a direct comparison of the banks via the relevant Internet portals can provide certainty. It is important to compare everything here.

This concerns the interest, the free special repayments and the processing fees. Sometimes it is a mathematical example. If you already know when borrowing that a special repayment is not planned, you can also do without this option. To compensate for this, however, interest rates should be low, because they apply for the entire term.

Applying for loans through capital lender is easy. An online loan application is sufficient to address both banks and private investors at a serious level. Of course, the borrower decides who gets the loan.