Credit from private comparison – Find and apply for the best credit from private individuals!
A personal loan helps to better serves due expenses and accrued liabilities. Many private loan offers are available on good terms.
In order to provide you with the best possible information, we have developed a loan from a private comparison with our finance team and experienced experts for a good overview.
If you also want to delve deeper into the topic or are interested in specific aspects, you can find a detailed guide under the comparison. Find the best loan from you now and apply for it directly online!
What is a personal loan?
Unlike a conventional installment loan, a private loan is not granted by a bank, but by private individuals. The loans are granted to individuals as well as companies. The lender always decides whether to grant a loan. He can determine who he wants to work with and on what terms the cooperation should take place.
As a rule, you can find a loan from private individuals on appropriately set up portals. In our comparison, you can see which portals offer which services or loans. Borrowers and lenders must register there and will then be merged accordingly.
Lending ultimately depends on various factors. The Credit Bureau and the income as a single component are not fundamentally decisive whether a loan is granted by a private person or not. In general, however, you must be able to provide the lender with sufficient collateral to recognize whether you can repay the loan in full or not.
Who offers a personal loan?
Mostly it is private investors who see lending as an exciting way to invest their assets profitably. You benefit from the interest you have to pay on the loan. But there are also institutions that invest and multiply your money in this way. It is always important for you that you know where the money comes from and who you are dealing with.
Do not be tempted by lure offers that show from the start that they cannot work under any circumstances. Tests show that there are a lot of black sheep in this industry who like to take advantage of the needs of money seekers.
So make sure to use our comparison if you are looking for a suitable lender and find the best loan from private. We have looked very closely for you and checked who offers his money, on what terms this happens and what you can expect from the lender.
Is there a free personal loan?
Unfortunately, a private loan cannot be offered for free. Application and admission are always free of charge. Because the donors may not charge a processing fee for these processes. However, you only get the money if you pay an effective interest rate on the sum of money from the loan.
How high the effective interest rate depends on the donor. Make sure that this does not lure you with the borrowing rate. This is because it only contains the pure interest rate and is therefore significantly lower than the effective interest rate. The effective interest rate, on the other hand, includes all costs and fees so that when you look at it you know exactly how expensive your loan will be. The effective interest rate can currently range between 3 percent and 18 percent.
Tip: Do not get involved in offers where you have to make advance payments as a borrower. Do not take out insurance to get a personal loan. Such offers are usually dubious and will not bring you the hoped-for loan from a private person.
3 important criteria for applying for the best private loan
1. The cost
A personal loan is unfortunately not available free of charge. But this is not a loan, no matter what source it comes from. Since this type of loan is mostly a loan offer that is aimed at consumers with an unfavorable credit rating, you should always keep a close eye on the costs associated with the loan. Pay attention to the effective interest rate and the fact that you do not have to make advance payments for the loan. You want to borrow money and not pay money in order to be able to borrow money.
2. The service
Even if it is a personal loan, you should still make sure that the lender can offer you a certain service around the loan. So he should be reachable by phone, answer all questions competently and not hide behind any website and artistic name. You should always know who you are dealing with, who is lending you the money and on what terms.
3. The conditions
A loan is only as good as its terms. An old rule that you may already know from other borrowings.
Therefore, make sure that all issues relating to the loan are presented in a transparent manner. Hidden costs, cash in advance or full promises are always a bad sign and do not speak for the provider.
However, if the lender shows his open side, he sets out all the conditions openly and if these conditions can also be adapted to the borrower, then you have found a good lender whose services you can confidently use.
Tip: There are good conditions if you can arrange a break in payment and also special repayments. Likewise when the monthly installments can be tailored to your financial options.
Credit from private in the test – our conclusion
A personal loan is one way to borrow money that is urgently needed. It is often used when the traditional banks do not want to or cannot grant a loan due to the unfavorable creditworthiness of the prospective customer. Despite all of this, the private loan should not be seen as the last emergency anchor. Because this type of loan has more to offer than just filling in gaps that others cannot fill.
We recommend that the private loan always be included in the credit decision. There are many good deals in this area, all of which come from private donors. However, make sure that you apply for the loan directly from a provider if possible. Our comparison and external tests will help you. If you use a credit intermediary, they will impose a fee on their work that makes the loan unnecessarily expensive.