Home » Installment loans: Interest rates rise to more than 7 percent – Here’s how to save

Installment loans: Interest rates rise to more than 7 percent – Here’s how to save

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Installment loans: Interest rates rise to more than 7 percent – Here’s how to save

Borrowers have had wonderful times. In times of zero interest rates, consumer credit was cheaper than ever. The rise in interest rates comes as a shock, as the cost of installment loans is rising dramatically. In July, interest rates for installment loans exceeded the seven percent mark for the first time since the start of the turnaround in interest rates. This was the result of a current evaluation of the comparison portal Verivox.

Calculations show how much every tenth of a percent counts. Even with small loans, there are quickly more than 1000 euros in additional costs.

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