The private banks in Germany due to the Corona-crisis on a wave of credit defaults. "We must expect that we will get one of the deepest recessions in the post-war history. This will give the appropriate failures,“ said the President of the Federal Association of German banks (BdB), Commerzbank chief Executive Martin Zielke, recently.

Therefore, it is important that financial institutions consider in the current emergency situation "means each loan application carefully, and in a fixed set of processes," says Zielke. A number of banks go one step further and turning the interest rate screw: installment loans in Corona a crisis of an analysis of the comparison portal Verivox is that more expensive – in particular, in the case of regional banks.

interest rate offers range of 2.43 to 8.99 percent - 1363 Euro difference

The data of the Internet portal, according to the increase of the average interest rates for a new installment loan of 10,000 euros with 48 months since the onset of the Corona-crisis in March by more than a percentage point, to 5.80 percent this week (date: Wednesday, 17. June). In the same period of the previous year, there had been a slight decrease by 4.69 to 4.56 percent. Here, loan rates compare quickly and easily (display) To Focus Online loan rates comparison

The range is currently very large. In the case of the cheapest banks customers to pay for such a loan at 2.43% interest. The most expensive institutions require 8,99 percent. Over the full term of the 1364 Euro makes a difference in the interest costs.

In the case of regional banks now on average a whopping total of 6.24 percent

Verivox has been evaluated for its investigation, the representative effective interest rates (Two-thirds in interest) of approximately 200 banks and savings banks, the corresponding information on your website. A two-thirds interest indicates how much a loan for at least two-thirds of borrowers may not exceed costs.

Thus, the market is divided also, quite obviously, two: the interest rates remained at the available nationwide since the outbreak of the crisis, with slight fluctuations in the average constant at about 4.2 per cent, well below the average. In the case of regional services, especially of savings banks and cooperative banks, increased from 4,85 to 6.24 percent increase.

"We forgive every loan that we can forgive"

The independent FMH financial advice, as observed in the case of 35 evaluated institutions also increased interest rates for consumer loans in the past few months. Big jumps are not expected in the face of competition, however. Here instant loan compare easy and fast (display) For the Focus Online instant loan comparison

"Believe me, we try very to make Many things possible. We forgive every loan, we can forgive,“ said Zielke. "But we must also reject the customer's wishes, if the regulatory requirements leave us no room for manoeuvre."

More credits for high earners, crisis-Affected people have to See

With rising unemployment will increase the risk that borrowers might not pay back your loan, confirmed Oliver Maier, CEO of Verivox financial comparison. "First of all, many regional institutions have responded with higher interest rates." In the case of the nationwide available on the Offerings of the competition set the credit institutions, however, narrow limits for increases.

• All the information about the Corona-crisis in the Live Ticker of FOCUS Online

Maier, according to some banks, exacerbated the crisis in addition, your internal guidelines for the credit approval. "You build the business with Gutverdienern in secure employment and create other customer groups for stricter standards, particularly in the case of credit interested parties from industries, which were drawn from the Corona-crisis hit particularly hard." Here small loan simple and fast display) compare (To Focus Online small loan comparison

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Date Of Update: 26 June 2020, 06:26