In order to secure a loan, the banks sometimes require that they take out residual debt insurance. It jumps in when the borrower becomes unable to work, becomes unemployed or dies. In addition, consumers should know that such insurance makes the loan more expensive. However, there are plenty of banks that also grant a loan without residual debt insurance.
Those who are well advised save money
Taking out residual debt insurance is not wrong if the amount of the loan is high. With real estate loans, the property is at stake in an emergency. In this case, it is even worth taking out residual debt insurance with full benefits. In the event of an insured event, this then takes over the remaining payment of the loan.
For banks, residual debt insurance is an additional security that some credit institutions do not want to do without. Smaller loans are made unnecessarily more expensive and the benefits are missing. With a loan of, for example, 3000 USD, the conclusion is not worthwhile. If the bank insists, then you should look for a credit institution that offers a loan without residual debt insurance.
Find the right bank with a comparison calculator
Many loan seekers are already using the comparison calculator on the Internet. Here you are guaranteed to find a bank that offers a loan without residual debt insurance. By the way, the borrower also saves money. Online loans are significantly cheaper than at branch banks. In addition, online banks also have better conditions.
Comparison computers work independently and free of charge. The consumer does not assume any obligations when using it. If you just want to find out more, you don’t have to worry about an entry in the Credit bureau. This is only reported to Credit bureau when a loan request is made to a bank.
Credit without residual debt insurance from abroad
Without a corresponding credit rating, a loan from Agree bank will not be approved. A loan approval can be granted abroad under certain conditions. Anyone who has a permanent job with a corresponding minimum income of USD 1,100 net can look forward to a foreign loan. In contrast to German loans, there is no residual debt insurance.
However, a foreign loan is only granted to employees who can demonstrate that they have been subject to social security contributions. The unemployed, students, freelancers and self-employed are completely excluded. Even pensioners cannot apply for this loan. With a good Credit bureau, however, it is not absolutely necessary to go abroad. There are also banks in Germany that do not take out residual debt insurance. With a comparison, the search is done quickly.