Would you like to move and are urgently looking for a quick loan for the deposit? Or has the deposit pushed your overdraft facility to the limit and should the overdraft facility be settled as quickly as possible?
Our loan advisor on the deposit costs shows you ways to finance the rental deposit quickly and easily. Even for Good Finance recipients, there is a loan offer for the deposit if the move is ordered.
Loan for the deposit – who should pay that?
Moving three times is like burning down once. That’s how people put it 100 years ago. Nevertheless, tenants have not stayed in one place for long. It is usually the workplace that requests the move every three to five years. Whether it’s a career jump or the fate of a soldier, moving always costs a lot of money. Rents are skyrocketing in the metropolitan areas, but living space is becoming scarcer. At the same time as the rent, the amount of the deposit continues to grow.
Those willing to move cannot avoid the rent deposit. Without a loan for the deposit, the household budget cannot manage this additional expense. In addition, there are almost always renovation costs, some new furniture, the takeover of the existing fitted kitchen and the actual move.
Deposit credit – rental deposit from the bank or insurance?
Following the great need, there are now various options for the rental deposit. Borrowing an installment loan for the rental deposit would be classic. If there is no further financing requirement, a small loan is sufficient as a loan for the deposit. Up to 3,000 dollars net loan, good credit comparisons currently offer small loans at an interest rate independent of creditworthiness of 1.99 percent effective interest.
For example, if the deposit is 2,200 dollars and would be financed for 36 months, the monthly installment is 62.99 dollars. The favorable interest rate has a noticeable effect on the financing costs of the surety loan. In total, the three-year financing costs 67.53 dollars interest. If the monthly burden of the installment loan is still too high, the alternative to the installment loan might be interesting.
The loan for the deposit may be avoidable because many landlords want to see cash through a deposit guarantee. If an insurance company guarantees a sum of 2,200 dollars, it costs 9.63 dollars per month. Usually, the whole year is debited 115.50 dollars in advance. The only annoying thing is that this money is gone. While a “classic” rent deposit has to be returned later by the landlord.
Online credit or house bank – fast money in the account
The modern housing market often leaves tenants no time window to wait for loan applications. In the metropolitan areas, the apartment has the potential tenant, who immediately puts cash on the table for the rent deposit. The fastest loan is and remains the overdraft facility. No one can pay out a loan faster than the machine “spits out” the money. For this, the house bank earns proper interest on the overdraft.
In addition, the ordinary household budget rarely survives a loss of liquidity of several thousand dollars in one fell swoop. Interest-free and fast installment loan to compensate the deposit comes today from the loan comparison. The credit for the deposit or the overdraft facility can be in the checking account within 48 hours. Provided the application was made via video ID.
Is increasingly replacing the old post-ID procedure for legally effective applications for online credit. The small loan listed as an example, with an effective annual interest rate of 1.99 percent, could also serve as an example for the fast online loan. Only Skype is required for video telephony so that the identity check can be carried out. A call back via Skype can be expected within a maximum of 30 minutes after submitting the application.
Deposit credit with limited creditworthiness – problem-solving
Issuing a loan for the rental deposit becomes problematic if the personal creditworthiness no longer permits regular credit without problems. The quick loan for the deposit is unfortunately all about the good score. It would be possible to lend through a regular auditing bank if a solvent guarantor or co-applicant enters into credit liability.
A solution to the problem, which we pointed out at the beginning, would be to take out deposit insurance. The requirements for the pledge for the guarantee are significantly lower than for any regular loan request.
We recommend applying for the loan for the rental deposit through Good Credit. The portal has a very good reputation for arranging credit from private to private. In addition, risk-taking banks are involved in Good Credit. If the personal creditworthiness is sufficient for a bank’s quick risk loan, there is no need to wait for a sufficient number of private bids.