Online credit experiences
Online loans enjoy the reputation of being awarded faster and are significantly cheaper than loans from a branch. However, real online credit experiences also reflect this positive finding?
Online credit experience – here we have researched
Looking for relevant online credit experiences, it was particularly important to us that we find authentic reports. Real information, posted independently by individual lenders.
A censorship of the information undercuts good rating portals. Whenever a bank or other sponsor has editorial control, the door is open to manipulate.
That’s why we researched independent platforms. These were, for example, ekomi, where valuations free from any influence show real customer satisfaction.
We also consulted the major comparison platforms. We also use our own offer.
Reviews that our users post are therefore very meaningful. In addition, it is important to us that our users are satisfied with the credit.
That’s why we regularly evaluate the feedbacks that are posted here.
Good credit – explained in keywords
With money of the same currency, there is no good or bad. Loans, hence “money as a commodity”, are therefore not to be judged by the quality of the “commodity”.
This depends on the price (credit costs) and the special conditions. These points are good online loans:
- Low interest rates
- Flexible terms
- Good ancillary conditions such as installment breaks
- Free special repayments
- Fast processing
- Simple application
- High acceptance rate
First finding – no uniform opinion
As a first result, we note that there are no consistent online credit experiences. You can find hundreds of different lenders on the net.
The corresponding offers are correspondingly different. Nevertheless, we dare to generalize something.
The evaluation is as concrete as possible, but in some places we unfortunately had to cut corners.
Online loans from branch banks are rarely cheaper
Branch banks online – online loans equal to local loans?
If you are looking for online credit experiences on the net, you will also find numerous offers from chain stores. For example, you can apply for a loan from the internet at almost all savings banks and Volksbanks.
The result of our research on online loan experience with chain stores is somewhat surprising. Often the terms between loan from the net or on the spot are the same or similar.
Big differences, as one knows when comparing direct bank (without branch network) and branch bank, are the exception.
According to customer statements, it is even the case that employees actively encourage online applications. These online loans are a bit faster at best, but you are not noticeably cheaper.
Online credit experience for interest rates
Basically, you can find much cheaper rates on the internet than with branch banks. In particular direct banks are positive in this respect.
Only then can you separate the good and the bad ones. If you apply for a loan “blindly” from the first-time lender, it is quite possible that you are paying too much.
Online credit experiences for the processing time
Even online loans can take a long time to arrive on the account, according to the reports. In particular, ekomi found numerous descriptions that supposedly quickly disbursed loans would have taken weeks or even months.
So-called instant loans would also later, as promised, disbursed. These are still very expensive in many cases.
Borrowers were full of praise for loans with instant account checks that do not require documentation. Banks are actually making these loans fully digitized, according to the accounts.
With luck you have the money even on the same day. It does not take more than two working days.
Other positive online credit experiences
Finally, a few positive experiences come up. Firstly, it seems relatively easy to find a loan with installment breaks on the net.
Second, lenders often offer free special repayments. Third, it is also noticeably easier, according to the online credit experience, to find a loan with a specific purpose.
In conclusion, this may be one reason why borrowers often perceive online offers as cheaper. In particular, two uses turned out to be online ratings reviews.
Student loans and loans for renovations particularly highlighted borrowers.
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