Applying for a loan: tips for a successful application

Compare interest rates: How to find the best loan

Comparing interest rates is a crucial step if you want to take out a loan. Different banks and credit institutions often offer different interest rates, and even small differences can have a significant impact on the total cost of your loan. So take the time to check the offers thoroughly and use comparison portals to find the best interest rate. Remember that the APR is crucial, as it also includes possible additional costs.

Avoid overdraft facilities: Use better alternatives

Many people fall back on the overdraft facility (or “Dispo”) on their current account when they need money at short notice. The problem: overdraft facilities often have extremely high interest rates and are therefore an expensive solution in the long term. It makes more sense to consider alternatives such as installment loans or even a short-term small loan, as these often offer significantly lower interest rates and allow for better cost control.

Choose the right type of loan: What is important for you

Not every loan is suitable for every purpose. Think about what you need the loan for in advance and choose the type of loan that best suits your plans. Whether it’s a car loan, construction financing or a classic installment loan – each type of loan has its own special features, and it’s worth comparing the conditions carefully to find the best solution for you.

We also recommend that you take out suitable credit insurance.

Strategy 2: How to present yourself convincingly in a credit discussion

A convincing appearance in a loan interview can make the difference between a standard approval and particularly good conditions. First impressions count, and it pays to be well prepared and confident in the interview. But what is the best way to do this?

First of all, you should have your finances well under control. Make sure you have all the relevant documents with you – this includes proof of income, bank statements and, if applicable, information on existing loans or other obligations. If you appear well organized, this will make a positive impression on your advisor and show that you are taking a good look at your financial situation.

Your reasoning is also important. Think in advance about why you need the loan and how you can repay it. Show that you have thought about the monthly installments and the term. A realistic and well-thought-out plan signals to the bank that you are a reliable borrower.

Last but not least: Remain calm and friendly, even when it comes to negotiations. A polite manner combined with a clear understanding of your financial situation is often more convincing than frantic attempts to negotiate better conditions. In this way, you will appear confident during the loan discussion and increase your chances of a positive outcome.

Strategy 4: Start the loan discussion well prepared

Expert advice can often lead to better conditions when applying for a loan. For example, Miro Kredit AG offers comprehensive advice and supports you in realistically assessing and improving your creditworthiness. We help you to prepare the necessary documents correctly and point out potential pitfalls when applying for a loan, such as the importance of creditworthiness and credit capacity.

Sound advice ensures that you not only get the best possible interest rate, but also a loan amount that suits your financial situation. In addition, experts can often point out specific loan offers or solutions that you might have overlooked yourself.

It is therefore worth using an advisor such as Miro Kredit to ensure that you get the best possible loan at the best possible conditions.

We can also tell you everything you need to know about minimum age loans, which plays a major role when applying for a loan.