Borrowers who are looking for a low-interest, high-performance loan today can access a wide range of attractive loan products. In recent years in particular, the spread of the Internet in private households has seen a significant increase in supply. More and more banks have entered the market with their credit products and have just specialized in lending via the Internet.
The offers of most online banks stand for low interest rates, flexible terms and free use, and often very short terms are available, so that, for example, a loan can be taken out for 1 year. Borrowers who are looking for a loan for 1 year can often look forward to low interest rates because the banks can expect a lower risk of default, but borrowers who opt for a small loan with a short term should still make comparisons, because here too Money saved.
Get credit for 1 year at the best possible conditions
Borrowers who are interested in saving a lot of money should focus primarily on the effective interest rate when comparing loans. It is important to differentiate between target and effective interest rates. While the borrowing rate represents the adjusted interest rate and is therefore not very meaningful, the effective interest rate takes into account all fees, risks and contractual conditions, but last but not least the creditworthiness of the borrower is also taken into account.
Borrowers with a high income and positive credit bureau information in particular can regularly look forward to the best possible effective interest rate. Even low-income borrowers can enjoy a generally low effective interest rate on a 1-year loan. Short terms are associated with a statistically lower credit default risk, which is why lending banks actually always grant low interest rates.
If you choose a loan for a short term of one year, you should choose the loan amount wisely. Large amounts of credit, especially with short terms, ensure that one’s own liquidity is overestimated and that there is a credit default, so precise planning should always be carried out in advance. A clear advantage that arises with all online offers is the simple application and quick availability of the entire loan amount.
Find the best loan for 1 year with a loan calculator
The loan comparison with a loan calculator is particularly interesting due to the reliable comparison results. Borrowers can include individual details on the term, loan amount, usage, etc. in the loan calculator comparison and quickly make an initial selection in this way. The best individual offers are available below for a further comparison in detail. The credit comparison today is free of charge, non-binding and objective with virtually all financial portals. Borrowers who use a loan comparison on the Internet can permanently get the best interest and save a lot of money even with a short term.