You are interested in 37000 Euro credit, that’s clear. But how far have you already got on with credit planning? Only one last loan comparison, then the application? Or is your personal loan planning still in its infancy?
We are prepared for both. The affiliated credit comparison of creditend is one of the market leaders. Applicants who are still planning, expect below “compact information” about your loan, 37000 euro loan amount. In addition, an “example comparison” with 84 months duration (7 years).
37000 Euro Credit – Objective
Of course, nobody takes high credit, 37,000 euros is already a round sum, just incidentally on. Behind the loan application is in most cases a concrete goal. “Handfest” in the truest sense of the word, because the money is usually invested in a tangible asset. For 37000 Euro credit is a fancy new car in front of the door. Maybe even the right garage for it.
Others invest the money in their quality of life and a comfortable home. In all cases, the objective of acquiring a tangible asset supports the loan. The bank gladly accepts valuable goods as collateral. The physical security reduces the pressure on the personal creditworthiness of the applicant. For the bank, the loan in the amount of the mortgage lending value is secure.
Thus, the personal credit rating only has to cover the difference between the loan amount and the mortgage lending limit. Also, of course, provide proof that the borrower is permanently able to pay his installments.
Credit 37000 euros – what is the bank testing?
The credit check for 37000 Euro credit runs on several levels. External information is provided by the Bank of credit bureau, directly from the applicant, proof of income and regular spending information. First to the credit bureau at credit, 37000 euros so a higher loan amount. For modern credit procedures is requested no longer necessarily the complete credit bureau excerpt.
Usually, the bank asks only the score. Depending on the bank, different scores are given with a specific weighting. For 37000 Euro credit, freely usable and without 2nd applicant, the rating should be “A”. The score in addition to significantly exceeding the 700 points mark. In terms of income and expenditure, the bank expects a salary that allows a sufficiently high seizure margin.
In addition, the comparison of revenue and expenditure must demonstrate a sufficiently high surplus. Because, only from the budget surplus, the borrower is able to pay his installments.
Which documents are to be submitted?
In addition to the salary statements, it is also often necessary to submit account statements. They show, in more detail than the budgetary accounts, whether the claimant is actually getting along with his money. Also, what are the actual regular costs.
Moreover, whether current risks exist. For example, with a salary account at the dispolimit, if there are chargebacks. A chargeback due to lack of cover is a sign of the “short-term insolvency”.
The situation would be very similar if the payroll account shows payments to collection agencies. In both cases, high credit, 37,000 is a lot of money, would be virtually impossible. The credit risk is much too high for the bank.
Credit examples – compare interest rates correctly
Most users of free credit comparisons trust technology blindly. Of course, the loan calculator can not know how good the personal creditworthiness of the searcher actually is. Thus, the comparison lists the interest rates sorted by the lowest initial rate. In the current comparison, the Scotbank leads the list. In second place is credit bankive and so on.
For the average person, this listing is for 37,000 euros credit, maturity 84 months, rather uninteresting. Finally, only those with TOP creditworthiness pay the favorable TOP interest. A realistic interest rate comparison is only possible via the “representative example” according to Coale. It shows the conditions for which at least 2/3 of the bank’s customers use the offer they are looking for.
You can also see how much risk the bank usually takes. The higher the interest rate according to Coale, the more risk-taking the bank decides.
Cheapest loan, 37000 euros to Coale
In the current comparison of 37000 euro credit, freely usable with 7 years running time, the Intrasavings Bank offers probably the most favorable credit.
In the p.23 Coale example, the bank’s clients pay 3.29 percent APR on their loan. According to a representative example, € 37000 leads to a monthly installment of € 492.93 at a term of 84 months.
To the credit balance after 7 years and 84 installments thus to a total repayment of 41.405,96 euros. This results in a total of € 4,405.96 in borrowing costs due to the € 37,000 loan, which lasts 7 years.