Good news for consumers: banks want to lower loan interest rates | Life & Knowledge

Consumer loans have become significantly more expensive in the last year: costs have shot up by around 16 percent. Anyone who wanted to buy a top television or a new kitchen on credit had to pay more and more.

But now there are signs of a trend reversal. This is reported by the comparison portal “Smava” based on a bank survey.

Consumer loans

For the coming period, the majority of banks surveyed by “Smava” expect loan interest rates on the market to be stable, and in some cases even falling.

41.7 percent of the institutions will therefore pay interest for new loans expected to decrease by up to 0.6 percentage points in the next 3 months.

The remaining banks surveyed (58.3 percent) are expected to keep loan interest rates constant.

How much do consumer loans cost?

Most recently, interest rates averaged just under 9 percent Consumer credit due, reports the comparison portal. But there are also significantly cheaper loans, some with interest rates between 6 and 7 percent.

“In the coming months, the interest rate differences could become even larger. This is a great opportunity for those interested in loans,” said “Smava” boss Alexander Artopé. It’s worth comparing again, because… A lot of money can be saved with the best offers.

Example calculation*: 5000 euro loan over 36 months:

Example calculation*: 10,000 euro loan over 84 months:

Example calculation*: 30,000 euro loan over 84 months:

^{*Source: Smava, all information provided without guarantee}