The Internet as new territory? By no means, at least not when borrowing. In 2016, the number of online loans increased by almost 23 percent.
More and more consumers have apparently discovered the benefits of a convenient loan application from home. This is shown by the latest figures from the .
Credit online by the expert instead of going to the house bank
The fact that the first way to finance leads to the house bank, apparently no longer applies to many Germans. After all, in times of digitization, virtually every lender is available to them. It’s hardly surprising that many consumers are looking for suppliers who are particularly knowledgeable in terms of financing. In the past year, almost half of the loans in Germany were taken up with specialized financial institutions. By focusing on lending, many of these institutions are at the forefront of digital borrowing. For example, Bank already offers a completely paperless loan online, in which the signing of the contract also takes place digitally.
Low interest rates do not lead to unreasonable borrowing
But despite all the convenience of online credit and still prevailing low interest rates: to increase consumption on the pump can not be tempted by the German citizens. On a total of 231.2 billion euros in 2016, the credit debts of private individuals in the German financial institutions amounted to (construction financing except). This value has remained virtually unchanged for around ten years. Just because lending rates have been very low for quite some time now, it is not unreasonable to borrow money. Quite the contrary: Anyone who lends money, makes before borrowing an accurate picture of his financial resources and therefore has no problems serving the rates. According to the banking association, around 98 percent of loans to private individuals were duly repaid in 2016.