At the beginning of a tempting loan offer is almost always. For example, the offer of the credit institution, 10 to give 000 Euro an effective annual interest rate of 5.16 percent. At a term of 36 months, the financing of the new living room or a world is game to travel to the children. Then, when the friendly credit consultant advises to offer to the rest of the adversities of life, the end and a special residual debt insurance, to say the least-to customer no.
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The arguments that are put forward in such situations, are obvious. “The cost you in a month at just 30 Euro more,” it says, “but if you become unemployed, become seriously ill or die, you must make it easy for your family because of the loan no Worries.” If the customer does not see that the interest rates change due to insurance, the Deal is usually perfect and the cost to trap.
The supposed cheap fee drives the cost of borrowing
“What is the man hiding on the other side of the Desk, is that the costs for residual debt insurance, are significantly higher than ordinary risk insurance,” warns Max autumn, chief of the FMH financial advice. In addition, the allegedly cheap fee drives of 30 euros per month, the cost of the loan in exorbitant heights. “Would you include this amount in the interest rate would be this instead of five in proud 12,18 percent,” said autumn.
The shortcoming is: The credit institutions are not required, the cost of the Police in the effective interest rate to press iron. “Since residual debt insurances are always completed on a voluntary Basis, may promote the banks continue with their favorable interest rates,” said autumn. The customer has to pay for his credit, in the end, many times, is not legally objectionable. Also the fact that many customers have the impression that you would be granted without insurance no credit, plays no role.
in Order to secure favourable loan terms and conditions, should be carried to a borrower, therefore, never to the Quick of a signature. A customer is unsure of whether or not the policies offered to make him mind, he can let you in the case of a consumer check. Security provide prospective borrowers also by their actual costs with the loan calculator by calculate. display: Here, free of charge, compare loans
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anyone Who has already completed a supplementary policy to its the loan agreement may call for the first 30 days after the signature, usually without further. The actual credit will remain unaffected. “The Bank can take back the loan because the customer of the insurance triggers”, reassured expert the autumn. The conclusion of the contract, is already no longer, is excluded to the full termination usually. At least from the insurance against unemployment, which accounts for most of the cost of a block, it can take the borrower, but also to a subsequent time interval.
But also without the need for expensive payment protection insurance can be used to vary the credit conditions of the banks. Who wants to calculate what interest rate you can cope with your own Budget, you can get the loan calculator a first Overview.
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