Fixed Rate Loan Comparison with Cheap Online Interest Rates
Are you currently receiving new financing and are you currently looking for a cheap loan? With Manucrediter you have a competent financing partner by your side. With our credit comparison, you can compare over 40 loan offers in just a few clicks to find the bank loan that really suits your current financial situation. Our comparison is completely free of charge for you and we compare for you independently and transparently.
When choosing a fixed loan, the interest rate plays a crucial role for you. The lower this turns out for you, the lower the total financing costs. With our loan calculator, you may like to sample a few credit options for yourself to get a first indication of the monthly loan installment. Simply vary the term to your desired loan amount. The longer the term chosen, the lower the monthly installments for the installment loan. At the same time, however, you also have to pay more interest over a longer period of time. A long term is therefore only recommended if you can not carry a higher loan rate at the current time. Otherwise, we recommend using the term as low as possible, because you can save yourself unnecessary interest payments.
A long term brings a lower credit rate with it. But you also have to pay significantly more interest in total over the longer term. For this reason, choose the term wisely and do not go for the lowest credit. At this point, we recommend the middle ground between the loan installment and the term. For a loan over 10000 Euro we would recommend you a term of 48 months. With the current conditions (around 3.00% per annum), you would have to pay for such a loan with about 700 euros (total loan amount at around 10700 euros) in interest. If you were to finance the same amount over 84 months, you would have to reckon with about 1300 Euro (total loan amount at around 11300 Euro). When choosing the running time, make sure that you do not choose them unnecessarily long. In the end, you only have to pay unnecessary interest!
What is a fixed-rate loan or fixed-rate loan?
To be able to talk about the advantages of a fixed-rate loan, it is first necessary to understand what a fixed-rate loan is. This form of credit is a normal installment loan, which you can easily borrow via the Manucrediter loan calculator. The biggest difference lies in this form in the interest rate. As the name suggests, you get a fixed interest rate when you take it. However, this fixed rate does not mean the interest rate over the term. All online loans in our comparison have a constant interest rate over the entire term. With the fixed rate at a fixed rate loan, the interest rate of the loan is meant, which is the same for all customers and thus does not vary depending on the credit rating.
Thus, there are loans with a credit-based interest rate and those with the same interest rate for all customers. Loans with a credit-based interest rate can be recognized in our credit comparison by the fact that they have an interest margin. For example, you can find installment loans with interest “X.XX% to X.XX%”. The individual interest rate can only be determined after a non-binding and free loan application. The better your credit rating, the better the interest rate will be for your financing request. With a below-average credit rating, you can thus also receive the interest at the lower end of the range. In this case, it would then be the “up to X.XX%” interest, which can be significantly higher than the “from X.XX%” interest rate.
A fixed rate loan has the same lending rate for all customers. The loans you recognize in our comparison because there is only one interest rate. The individual interest rate thus corresponds to the interest rate that you see in the Manucrediter loan calculator. Such an interest is for this reason also termed credit-dependent interest rate. However, this does not mean that you will receive this loan without a corresponding credit rating! Of course, you must continue to meet all the acceptance criteria to receive this installment loan. The difference is only in interest. Once you meet the bank’s criteria, you will receive the loan at the listed fixed rate.
What are the advantages and disadvantages of a fixed-rate loan?
The advantages of a fixed-rate loan are exactly the disadvantages of a credit-based installment loan. Depending on the credit rating, the interest may be high for a credit-based interest rate. With a fixed rate loan, you do not have to worry about it. Once the acceptance criteria are met, you will also receive the listed interest rate. Now the question could quickly arise, why one should not always take a fixed interest loan? We have the answer:
As you can imagine, the disadvantages of a fixed-rate loan are just the benefits of a credit-based loan. If you have a better credit rating, you will not be able to benefit from a fixed rate loan because all customers receive the same interest rate on their installment loan.
With our credit comparison, you have the opportunity to take advantage of a credit-based as well as a credit-independent loan. First make a free loan application to a bank with a credit-based interest rate and check the individual interest rate. If this is below the interest rate of a fixed rate loan, then take up this loan. If the individual interest is higher than the fixed interest loan, apply for the loan with the credit-based interest rate. With this tip, you can quickly and easily secure the cheapest lending rate for you!