Anyone who needs a loan during parental leave should not face any major problems today. Employees who decide to take parental leave cannot be terminated during this period. Only the limited financial options should be taken into account. Especially during parental leave, it is all the more important to refer to a comparison of several offers on the Internet before signing a contract.
This is how it works with the low effective interest rate
Above all, a loan during parental leave should offer a low effective interest rate. The effective interest rate for most offers is variable today and is primarily dependent on the borrower’s creditworthiness as well as the term and loan amount. Even during parental leave, the borrower is entitled to 60% of the income, which of course limits the creditworthiness, nevertheless, for example, the effective interest rate can be positively influenced with a positive Credit Bureau.
Borrowers have the opportunity to influence the effective interest over the term and loan amount. A high loan amount and a long term lead to higher effective interest rates, which can be explained primarily by the higher credit default risk. Since the banks take less risk with small loan amounts and short terms, borrowers can benefit from significantly lower interest rates.
Borrowers who opt for a loan during parental leave should definitely resort to a loan with the option of special repayment. After parental leave has expired, the conventional income is available to the borrower again, so that the repayment can also be carried out more easily.
Securing the lowest interest rate permanently – A comparison is essential
In order to be able to benefit permanently from the best individual offer, borrowers should make use of a comparison on the Internet. The comparison of several offers is possible today free of charge on the Internet. With the help of a loan calculator, the borrower has the option of including individual information in the comparison. By taking into account a certain loan amount, term and repayment, borrowers can directly filter out the best offers and call up the lowest interest rate permanently.