If a loan is requested from a bank, the credit rating is the decisive criterion for the grant. The monthly income is checked, which is available for a repayment of the loan – there is a disadvantage, if there are already other payment obligations. Nevertheless, you can get another loan in such cases.
Credit even with existing installment
Especially if only a small loan is needed, the first way could lead to a bank. The loan houses from the Alpine republic offer their loans online especially to German customers. The reason: German banks let check the creditworthiness of a customer by the credit. But because usually every credit and every other installment of the credit is reported, it is often rejected. So this can be the case even if the debtor has so far repaid all credit reliably. A loan, however, is awarded without such a test: The deciding factor is only the monthly income.
The decisive factor is that the earnings are above the seizure limits. For the bank, a seizure of salary in the event of default is the only security. Because the risk for the lender is therefore comparatively high, the credit costs for such a loan are less favorable despite installment payments: more than 10% APR usually has to be included in the calculation. The loan amount is set at 3500 euros and the repayment term is 42 months. If more money is needed, another loan can be taken on a spouse.
Credit possible despite installment payment with two persons
In many cases, however, this sum will not be enough either. If the creditworthiness of a loan is inadequate and a loan is under-capped, consider taking a loan with two people. Many banks offer this option because a loan taken on two people is also in their interest. Both debtors are equally liable for the repayment of the loan.
To the creditworthiness of the debtor, which is already burdened by the further installment payments, then the creditworthiness of the second debtor can be added. Depending on how it is ordered, interest rates of around 5% per annum are possible, with a loan of € 10,000 and a term of no more than 48 months. However, first of all a second person must be found who is ready to sign such a credit agreement. In addition, the strict credit criteria also apply to them: The debtor must be at least 18 years old, an employment contract with a time limit or during the probationary period is an exclusion reason.