It is not at all rare that customers need a loan despite a loan. This situation is particularly prevalent when, in the case of a current long-term mortgage loan, further financing, for example for a new car or complex dental treatment, becomes necessary.
Basically there are several alternatives to get another loan. For smaller amounts, it is simply possible to make use of the existing disposition credit for the checking account or to extend the overdraft facility. If a larger loan amount is needed, the inclusion of a consumer loan is recommended.
The use of the disposition credit
Even those who have taken up a larger loan usually has an overdraft on their current checking account. If only amounts of a few thousand USD are missing, it can be beneficial to use this credit line. If necessary, you can also ask the house bank if the overdraft can not be increased by a certain amount. You can immediately dispose of the money borrowed in this way by making a corresponding transfer or cash withdrawal.
However, every customer who uses his disposition framework for a loan despite a loan should strive to pay back the borrowed money as fast as he possibly can. Because the interest rates for the discretionary credit are very high for most banks, they are usually well over ten percent, so that over a longer period of use high interest costs arise.
The inclusion of a consumer credit
If a larger purchase needs to be financed, the credit line is often not enough. Then the inclusion of a consumer loan can be useful. Such a loan despite loans can be obtained either at the house bank, another presence bank or from an online bank via the Internet. In any case, the prerequisite for a loan despite loans is the sufficient creditworthiness of bank customers. This means that the contractual operation of the consumer loan must be guaranteed.
Only if sufficient monthly income is available so that, after deducting all fixed monthly commitments and living costs, there is enough financial leeway to raise the loan installments, will the client be sufficiently certified to have creditworthiness. Of course, these calculations must also take into account the loan installments for the existing loan.
In order to choose the cheapest possible loan, it makes sense to use a credit comparison calculator, which is offered on numerous finance portals on the Internet. Here you enter the total amount of the loan despite the loan and over which period of time its repayment is intended. From the offers presented then, the customer can choose a loan and then immediately make a loan application online.