Do you also no longer feel like annoyed about the excessive disbursement interest at your house bank? Today’s issue of our credit counseling session is about how to get rid of your expensive dispo quickly and easily.
Dispo: Flexible, but expensive
The credit line is basically useful. If you need extra money quickly, the framework of the bank helps. Unfortunately, the interest rates that large banks charge for credit lines are extremely high. Over the past few years, the banks have not passed on the sharp drop in interest rates or passed them on to their customers to a very limited extent. Consumers who are in the red with their account, therefore, must continue to reach extremely deep into the bag.
Make good use of the credit line
Even if the interest rates for the dispo are actually too high – sometimes it is not possible without additional money. When suddenly unexpected expenses have to be shouldered, many bank customers are reluctant to accept the high disbursement costs.
The interest rate is annoying, but remains at a limited time use of Dispos but without major consequences. But this is where the problem starts for many people: they can not make up their accounts within a few days or weeks. They are for months, even years in the minus. The bottom line is an enormous interest burden.
The credit line should never be a permanent solution . At the latest after six to eight weeks, the account must be balanced again. If this is not possible, it will be high time for an installment loan as an alternative. Such a loan is noticeably less expensive than a credit line and therefore significantly reduces the financial burden.
Installment loan instead of dispo
The idea is quite simple: To say goodbye to the expensive credit line, you take out a favorable installment loan. The loan amount you select so that you can bring your account in the plus and may create a small cushion.
The extremely high discount rates are calculated on a daily basis exclusively for overdrafts used. As soon as you have cleared out your account, you no longer use a credit line – and therefore you no longer pay the expensive disbursement interest.
Instead, your cheap installment loan will benefit you from the extremely low interest rate that is currently applied to consumer credit.