Too often, people make the mistake of paying in advance to companies unknown to you or securing a device online at a fraction of the normal retail price. The sellers often do not even try to give the appearance of a reputable company!
However, the price is so low and the offer is of course limited to a single day. This creates artificial pressure to use this unique opportunity. Business models that promise a home work with tens of thousands of euros and almost zero workload work similarly. There, of course, the homeworker only has to make a down payment for goods or components. So that nothing similar happens to you with a loan, you should read why there is always credit without prepayment.
The internal credit rating is free of charge for you
With personal loans, every bank lives only from a relatively low interest margin in the low single-digit percentage range of the outstanding receivable. That is why the bank simply cannot afford to default on a larger scale! In recent years, less than 3% of retail loans have more or less failed. Obtaining information and internally calculating the probability of repayment is therefore a work process to protect the bank.
These costs are not passed on as a flat rate, especially not if no contract is concluded. The second part, which is a bit complex, is to write down the ID data or the PostIdent procedure. This is required by law and is therefore not charged extra. For these reasons, it is a signal of extraordinary unreliability or dubiousness if any other prepayment or agency fee is required.
The processing fee will only be charged upon payment
As you can read in the previous paragraph, the processing fee is therefore only charged when the payment is made. Only when the contract is concluded, for example, there is a 2% surcharge on the loan amount. However, this is included in the interest rate given to the customer, since the banks would have to state the final price. The credit without prepayment has thus become a reality.
Why the loan is not possible for everyone!
If a provider does not grant a credit without prepayment, then he argues in newspaper advertisements or in notices, particularly in economically hard-hit regions, that there is credit for everyone. Often with the additional, animating note: “Also for hopeless cases”. The loan seeker should be extremely careful here. Even a well-meaning lender cannot undermine the laws of mathematics and banking! For example, if he gives a loan to those who have the worst credit rating “L” or “M”, the probability of default would be higher by 40%. This note alone shows that a loan with a lot of promise often does not deliver what it promises.
It is therefore better to rely on the credit without prepayment with a bank or savings bank or a well-known provider of personal loans.