The international economic crisis has already lasted for several years. There were few and tentative signs of recovery during this period, and events such as the Greek crisis shook the world. As the key interest rate of the European Pentram Bank has been cut several times, interest rates on savings deposits are sometimes only just above zero. With very large balances are even negative interest in the room, or are actually charged on a case by case basis. However, a significant or even an increase in interest rates is unlikely in the medium term.
However, this development implies that interest rates linked to the general interest rate have also fallen steadily during this period. This not only benefits large companies or state and public institutions, which depend on constantly available capital for new investments, but also small and medium-sized enterprises as well as private individuals. Depending on the amount and duration of the current interest rates are sometimes under 3 percent per year, while in 2008, 5 percent and more were paid for daily deposits, with, of course, much higher lending rates in this period.
Whatever larger purchase is required, for which a large amount of money is needed in the short term – in the past, applying for a loan was a complicated matter. Many have visited their house bank out of habit and convenience and had to keep to opening hours, make difficult appointments and sometimes take on-site waiting times and fill out numerous forms. Also, the processing times and waiting for a notification whether a loan is granted at all, could demand a lot of patience.
A quick and easy option has always been an overdraft on account, at least for small to medium amounts, but the general interest rate cut was barely passed on. Because of the very high expenses that is generally not recommended.
Later it became possible to look over the internet for a suitable offer for a loan. Of course, it is also possible in this way to inform yourself comfortably from home about the offers of your own bank, at the same time, of course, it also makes sense to compare those of other banks. The conditions can vary depending on the amount of money, duration and purpose – all this can be easily compared today and apply for it online. Of course, even today a loan is not a gift, and sufficient evidence of collateral or regular income is usually a requirement of reputable banks and credit intermediaries, but settlement has become much easier.
In order not to have to search long for suitable offers by hand or over general search engines, comparison portals offer for on-line credits.