How to find the optimal loan amount

In order for you to be happy with your loan in the long term, the loan must fit well with you. So you should be able to easily afford the monthly installment. How high your rate will be depends very much on the loan amount and the chosen term. It therefore makes sense to think about the amount of funding.

Carefully choose the loan amount

Carefully choose the loan amount

Instead of simply entering a sum in your credit application “from the gut”, you should better determine your needs. If you want to make a certain investment and, for example, purchase a car or furniture, the sum is quickly fixed. But if you want to reschedule, for example, you need to spend a little more time calculating.

Increase loan amount and replace old debts

Increase loan amount and replace old debts

So far, you may be paying two, three, or more times your monthly installments. If credit and financing contracts are older, interest rates are likely to be too high by today’s standards. A replacement of old debts by a new and much cheaper instant loan makes sense.

For Crediter to help you find a cheap loan, you need to know your needs. So you should add the remaining debt to the various lenders. In this way, you will receive the sum that you must at least receive as a loan in order to be able to replace the existing obligations. So that one or the other unexpected issue does not immediately tear a big hole, you can usefully take into account a little additional “buffer”.

Count on “sharp feather”

A tip: Always calculate with “sharp feather” when determining the loan amount. If you borrow significantly more money than you actually need, you are doing a bad business. You then have borrowed money in the account, where it brings you little in the face of lean savings interest. On the other hand, of course, you have to pay the agreed interest to the lender. Therefore, take only as much money as you actually need – and make sure that you do not financially accept. Crediter will help you with this and will only look for those loans that are economically sound. So you do not fall into the debt trap, but remain financially on a sound course. Here you can apply for your preferred loan.