Why change my loans?
You often pay too much if you have loans from several parties. For example, if you are red with the bank or if you buy on credit from mail order companies. Transfer your various loans to one advantageous loan at Bank. This way you can effortlessly save hundreds of euros per year. Find out how much you can save by transferring your loan!
Which loans will be transferred?
You can save a lot of money by transferring your loans to one well-organized loan. Which loan you can transfer we have listed below:
- Personal loan
- Revolving credit
- Credit card debt
- Mail order credit
- Redstand at your bank
How does it work at Bank?
Crossing one or more loans to Bank is fairly straightforward. With the free transfer service from Bank we arrange everything for you. All you have to do is calculate how much you can save by transferring your loan. Is the conversion of your loans in your favor? Request a free quotation from us immediately. Within 10 minutes you will hear from us if you are eligible to transfer your loans to Bank. You will immediately receive the quotation. Do you agree with the offer? Upload the signed agreement and the requested documents in an online secure environment. We carefully assess and check your application. If everything is agreed, we will transfer your loan (s) to Bank. We unload all outstanding amounts from the lenders. Have you borrowed an extra amount? Then we will transfer this remaining amount to your bank account within 1-2 working days.
What you should pay attention to when taking out loan (s)
There are a number of issues that you should look out for when you want to transfer your loans to one advantageous loan. We have listed the most important points for a loan for you:
1. Interest on your loan
For small loans you often pay a higher interest rate than larger loans. So you can save a lot of money by transferring several small loans to one advantageous loan with lower interest rates. This makes it much easier for you and the monthly costs can be lower. The interest rate will be an important factor in saving on the monthly costs and / or total costs of the current loan. Please note that the remaining term remains the same.
2. Cost of your loan
Check carefully if there are costs and conditions attached to the current lender (s) when transferring your loans. This only applies to Personal loans. A revolving credit can always be paid off and transferred without penalty. This also applies to a credit card debt or overdraft. You can not always pay a personal loan without penalty. That depends on the lender. That is why it is important to check in advance the conditions of whether costs are still linked to the transfer of loans. If this is the case, take a good look and calculate whether it is an advantage for you.
3. Term of your loan
In addition to benefiting from lower interest rates when switching loans, you can also benefit by shortening the term of the new loan. A shorter duration leads to lower total costs of the loan. You pay a less long period of interest. This means that you resolve more quickly, so that the amount on which you pay interest also decreases more quickly. A longer term ensures a lower monthly amount, but this is more expensive because you pay a longer period of interest. A loan with a short term is ultimately cheaper.