A long-term installment loan is particularly suitable for purchases that are very expensive. These include, for example, real estate, cars or high-quality facilities for apartments or houses.
A longer term gives the consumer lower loan rates over the entire term of the loan. However, this makes the loan more expensive.
Longer-term loans are available from many financial services providers.
Quick read – in a nutshell
- Long-term loans keep monthly rates low
- Thanks to low interest rates, the amortization is not too short
- Choose yourself – at first without obligation – your term with up to 144 months
- Apply for your loan now tested safely
Long term installment loan – financing with the bank
For large purchases, consumers often require high installment loan. These loans are provided by banks to their customers.
Installment loan with a long term – and of course low interest rate
Many bank customers often have longstanding business relationships with their bank.
If you want to apply for a long-term installment loan from your bank, you need an appointment with your client advisor. At the appointment, the bank customer must bring a valid ID.
For high-priced purchases should also cost estimates or purchase offers are presented. All data that the customer advisor otherwise requires for the installment loan can be taken from the data set on his computer.
In any case, a remark statement will be obtained and a loan check will be carried out. A loan of up to 10,000 euros is usually covered by the salary.
Bank customers need additional collateral for worse loan conditions. Without these collateral, the bank can reject a long-term installment loan.
Loan comparison – installment loan from the internet
For consumers, installment loans from the Internet are becoming increasingly popular. This can be seen in the fact that now every fourth loan comes from an online or direct bank.
The loans of these banks can be conveniently applied for from home and are also often much cheaper than the offers of many branch banks. However, those who are looking for a cheap installment loan with a long term on the Internet today, need a lot of time manually.
Much easier is the search for an installment loan . On the loan portal, loans from 500 to 120,000 euros can be compared.
Extra long repayment terms of up to 12 years are offered. To help consumers find the right loan offer quickly, provides a loan calculator.
In the loan calculator, the loan amount, the repayment term and the intended use are entered. The consumer immediately receives numerous loan offers that correspond to the information provided above.
After selecting the offer, the loan can be applied for online immediately.
Online and direct banks – observe loan requirements
Consumers who have found a long-term loan on a loan portal are usually redirected to the bank’s website. An easy-to-understand online form is available for the application.
When entering personal information, a remark clause is signed. Thus, the consumer entitles the bank to obtain information.
For online and direct banks, a positive remark and a good loan rating are among the loan requirements. Without these requirements, a loan application will be rejected immediately and without any reason.
However, if the remark is sufficient for a long-term installment loan, the application can be made. To establish identity, institutions use either the videoidentity or the postident process.
The verification of the loanworthiness takes place via the salary statements. These documents are sent to the bank in their original form or as a copy.
If all loan requirements are met, the installment loan with a long term can be transferred to the current account of the applicant.