Online Loans Instead Of Branch Loans

Those who have to bridge an unexpected financial bottleneck , for example due to an urgent repair or an unexpectedly high bill, usually resort to a quick loan. This is usually the use of the credit line associated with the checking account. If the sum of the credit line is insufficient, the usual procedure is to go to the house bank. The latter then submits a branch loan corresponding to its own needs. Or? Not quite or better said: ever rarer. Because with the emergence of the Internet, the offer of so-called online loans developed and these enjoy, according to recent statistics, a steadily growing popularity. Does this mean in the long run the “off” for the classic branch loan ?

Online loans offer decisive advantages

Online loans offer decisive advantages

It is undisputed that the online loan offers a whole range of advantages, especially from the consumer’s point of view, where the conventional branch loan simply has to fit. Advantages, which are mainly under the aspect of favorable credit conditions as well as under the factor of the convenience. It is verifiable fact at any time that online installment loans are significantly cheaper, especially with regard to interest rates, compared to the installment loan concluded on-site with the local bank. Even if these are credit offers with the so-called credit-based interest rate. Especially online loans of so-called direct banks, which operate in the market without their own, cost-intensive branch network, not infrequently appear in online credit comparisons at the forefront. Where, on the other hand, classic branch loans, for which corresponding costs for the branch network of the bank as well as the necessary personnel costs are priced into the loan conditions, simply fall behind.

Online Credit: Request a comfortable home from the couch

Online Credit: Request a comfortable home from the couch

But also the term “online” leads the online credit to an ever higher acceptance among the consumers. Because Online means first of all independence from opening hours, appointments and “Rennerei”. An online loan can be applied for any time of the day or night, because the Internet knows no opening hours. It is not without reason that the term ” couch credit ” has been increasingly used lately . The entire loan application will be processed more online or digitally. From the application , through the credit check , the identification check up to the digital signature of the credit agreement and the fully automated loan payment to a reference account . Everything is possible without even having to leave the house or just the “couch”. Provided that one sees oneself in the position, without consultation, to be able to find the best loan offer for own need. Because exactly is still a disadvantage compared to the branch loan – the lack of individual, personal advice from a credit specialist.

Consulting is still the main argument for a branch loan

Consulting is still the main argument for a branch loan

Statistics show that, especially for larger loan amounts with long maturities, the need for individual advice for most people is the key to a branch loan. You are also prepared to accept slightly worse credit terms for this service from the bank branch. Although now almost every 4th German the online loan would give priority, so shows especially in high loan amounts such as real estate loans, the advantage of the bank branch. Individual advice serves the feeling of security and rewarding credit customers as before.

There are no fewer credit customers, which are quite solvent, but carry financial missteps from the past thanks to appropriate SCHUFA regulations, although these processes have long since been settled. If banks were to show more individuality here and, for example, to include loans in their portfolio despite SCHUFA, this type of loan would receive much more respect and acceptance and, above all, gradually deprive the black sheep in the industry of the scam.

 

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