Long-term loan up to 12 years – Personal loan

The longer the term, the lower the monthly installments

The longer the term, the lower the monthly installments

An online loan with a long term is always an installment loan. Long terms are intended and useful for amounts in the middle and higher range, for small amounts they usually make little sense. The repayment over several years enables low monthly installments and thus more freedom for the borrower, since the financial burden is not so high. However, the committed borrowing rate has a say as well as the annual percentage rate, because the amount of these two values ​​provides information about the total cost of the loan. However, compared to short-term loans, the overall cost of a long-term loan is generally higher.

The online loan with a long term offers an incentive, especially for large purchases and investments, privately or commercially. The purchase of a new car, a condominium or company machines are examples that justify long-term financing, since they enable quick capital release with slow repayment. A debt rescheduling loan, in which several individual loans are combined to form a total loan, can also be created as a loan with long terms.

Long terms mean long credit commitments

Long terms mean long credit commitments

Home builders or homebuyers can sing a song about the loan commitment, because depending on the amount of the loan, they pay their installments up to 30 years a month. This is also a psychological burden in the long term if living conditions change, earnings decrease or drop completely, for example due to unemployment. Therefore, the online loan with a long term is always a computing task that has to be solved.

The points that should be clarified before concluding such a loan contract include, among other things, possible insurance in the event of death and illness, which can be realized through residual debt or life insurance, as well as the prepayment penalty, which the bank pays in the event of early cancellation or termination of the contract can request.