When a loan agreement is made, most banks charge a processing fee. These costs will be added to the loan amount. The amount of this processing fee varies and depends on the bank. However, there are also banks that offer credit without a processing fee. In the main they are internet banks.

Credit without processing fee

Credit without processing fee

Menibank currently offers a loan with no processing fee. However, the loan is only free of charge if a term of 12 months is chosen. The effective interest rate is 3.45 percent. Creditworthiness is of course required.

If a term of 24 – 84 months is chosen, the processing fee is three percent. Special repayments are possible at any time. At this term, the interest rates are credit-dependent and are between 4.74% – 10.99% effect. pa.

A better offer is provided by Credither. It offers an installment loan of 5,000 – 50,000 USD for an annual percentage rate of 5.95 percent. Special repayments are possible at any time free of charge. The term can be freely chosen from 12 to 84 months. The purpose is irrelevant. A residual debt insurance need not be completed. There are no additional fees.

These examples show that comparing banks to the Internet is really worthwhile. While Menibank charges only up to 12 months, loans at Credither are free of charge, even for longer terms. But the interest rates are a little higher.

Who wants to apply for a loan, should take a little time for research. These examples have shown how different the conditions of the individual banks can be and how important it is to compare the offers. Even if it does not look like it at first glance, a comparison can help save valuable money. After all, today no one has anything to give away, neither the banks nor the consumer.

Beware of rip-offs

Beware of rip-offs

Unfortunately, there are also black sheep in this area. They shamelessly exploit the financial difficulties of those affected. This manifests itself in the fact that processing fees are required in advance, although no credit at all. Anyone who works seriously does not do that.

Credit without processing fee

Credit without processing fee

A loan without a processing fee is quite rare. As the example of the Menibank shows, the fees only apply for a term of up to 12 months. But usually a loan runs much longer. Very few banks offer a loan with a long term without fees. It is quite legitimate to ask for processing fees, but they should only be incurred when a loan agreement has been concluded and not in advance.