When it comes to taking out 5,000 USD in credit, it is worth comparing the loans to find out which bank can take out the 5,000 USD on the best terms. Many consumers already know that a credit comparison is the best way to compare banks’ offers. Nevertheless, there are always questions that we would like to answer here.
Make optimal use of the loan comparison
Anyone who makes a loan comparison must know exactly what is important in the loan comparison. There are several comparison portals where different providers are listed, without the consumer being able to enter their own wishes. Qualified loan comparison portals, in which the consumer can specify the loan amount and the term, are much better.
This changes the ranking, because a bank that takes the top position when it comes to a loan of 5000 USD and a term of 36 months does not have to be at the front when it comes to a loan of 5000 USD and a term of 72 months. In principle, these qualified comparison portals give the customer better information and really find the provider with the greatest savings potential.
Our loan comparison is designed for a term of 36 months. Here we are in first place in comparison Barclaycard. Unfortunately, the acceptance rate at Barclaycard is relatively low at only 45 percent. The Infra bank in second place has an acceptance rate of 55 percent and a rate of almost 150 USD for a 36-month term. In third place is the Creambank, which scores best here with an acceptance rate of 80 percent. Our loan comparison is variable, so that you have the option of entering other terms and finding providers with cheap offers.
Watch out for interest rates dependent on creditworthiness
Many banks today advertise with interest rates dependent on creditworthiness and many unsuspecting consumers fall for these cheap offers. That means that a 5,000 USD loan, which is advertised with 3.90 percent effective interest, is not automatically granted to every borrower at 3.90 percent. The applicant’s creditworthiness is decisive for the actual interest rate. The representative example that the banks have had to publish since the introduction of the consumer credit directive in 2010 provides a brief orientation.
5000 USD loan with fixed interest
It can often be more convenient for borrowers to focus on fixed-rate deals from the start when comparing loans. Firstly, no personal offer has to be obtained here, and secondly, the interest, especially when it comes to only 5000 USD, is usually cheaper than for loan offers with interest rates that depend on creditworthiness.