55000 euro loan is taken for different applications
A 55000 euro loan is taken for different applications. Some consumers do not pay attention to their money and spend it unplanned.
Others, however, need the loan 55,000 euros for major purchases, bills or the purchase of a car.
Long term useful?
There are sometimes situations in life where a 55,000 euro loan with a long term makes sense. The loan 55000 Euro can be taken up so that this can be paid off. The credit rates can not always be set high if the salary is insufficient.
The monthly installments should be paid without any problems. In the case of a rescheduling, the purchase of a real estate or an expensive purchase of the loan 55,000 euros with long maturity added. High earning workers and civil servants often receive a long term from the bank.
If this is 120 months, the customer has to make a payment commitment for ten years. This is only possible if the income is indefinite. Furthermore, it must be ensured that the loan installments must be paid even if the borrower should lose his job.
Here, credit collateral must be used.
Credit Application – Credit Check
Before a loan is awarded 55000 euros, the lender will demand documents for review. He wants to know how solvent the customer is. The credit is a condition that the customer has a permanent employment contract.
Often it is also required that the employee is employed at the same company for at least one month. So no trial period will be available. If the employment relationship is temporary, it may not end before the repayment term.
The customer must already be of legal age for the application and act on his own account. In addition, both a bank account and the residence in Germany is required.
The correct loan security
With a loan 55000 euro often a loan security must be present. Even if the borrower can prove a good income. The € 55,000 loan must be paid by him for about ten years.
Much can happen over time, so a credit hedge protects both sides. Banks take no risk and require a credit security for the loan 55,000 euros. A guarantor is difficult to find on such a high loan amount. If a property is owned, a mortgage may be entered.
The assignment of term life insurance is also possible as collateral. In the past, life insurance policies were taken, but these are rarely used. However, it is also possible for the consumer to take out a residual debt insurance directly at the time of the conclusion of the loan.
Although this is associated with additional costs, it can be useful especially for families.
Centiloan – popular for credit comparison
Centiloan offers a good opportunity to compare the 55000 euro credit. For all comparisons, the term of 120 months should be entered in the amount. That’s equivalent to ten years.
The Bank awards its 55,000 euros loan for an interest rate from 3.99 percent. The monthly rate is 554.73 euros. Special repayments and installments can be arranged.
The other bank has a fixed rate of 5.95 percent. Thus, the credit is not credit-dependent. The monthly installment for the € 55,000 loan is € 604.93.
The last offer of a 55000 euro loan with a term of 120 months comes from the extrakredit. Here the customer has to expect a monthly rate of 712.38 euros. Depending on the credit rating, the interest rate will be between 9.95 percent and 15.95 percent.
55000 Euro Credit – Conclusion
How expensive a 55000 euro loan will become can be found out through a comparison portal. Here, the loan seeker will see what the monthly installments will be. The right term should be adjusted so that the loan becomes affordable.