Sometimes it’s time to say goodbye to old things – the repair-prone car, the power-hungry fridge, or the sagging couch. Even a loan can “get along” – and he too can be “exchanged” for a new loan.
Many loan agreements are concluded with long terms. The conditions agreed at the beginning of the contract are then valid for five, six, seven or even more years.
On the one hand, that’s good because it gives you as a borrower planning certainty. You finally know your fixed monthly installment, which can not go up. On the other hand, a loan taken years ago is almost always too expensive by today’s standards.
For while loan interest rates are fixed in the loan agreement, interest rates on the capital markets have developed dramatically downwards. Interest rates on loans have more than halved in many places and are now lower than ever.
If you still have an old loan, you pay too high interest rates month by month, and therefore too high rates to the bank. With the replacement of the old loan with a new loan, you can immediately and permanently reduce your monthly burden.
Given the currently very low interest rates, you almost always make a good deal when you replace old loans – even if you have to pay a fee of 0.5 to 1 percent of the remaining debt to the old bank.
A loan repayment is particularly useful
Do you have a current loan?
Then you can now find out for free how much money you can save each month!