Start here without obligation and free of charge your request. The repayment credit is particularly suitable for smaller investments for their financing. Its advantages lie above all in the high flexibility: it can be used in whole or in part up to the agreed credit line and can also be repaid in the same way. The disadvantage of a loan with Dina lies in the relatively high interest rates that are payable for this.
Credit with Dina
A credit with Dina can be applied for at the own house bank, where also the own giro account is led. This is an important prerequisite because the MRP enables account management in the target, that is, in the negative. The line of credit determines how much money customers can withdraw from their account without showing a credit balance. The basis of assessment is the regular income or the average monthly income. The credit line is usually two to three times the value.
Up to this line, interest rates are currently averaging between 12% and 14%. Caution is advised when the credit line is exceeded. If such an overrun has not been previously agreed with the bank, it can quickly become very expensive. Interest rate hikes to more than 20% are not uncommon among banks. The credit with Dina should therefore be used wisely, even if it is relatively easily available and quickly applied.
It is not suitable for medium to long-term financing
But rather for the short-term bridging of liquidity bottlenecks. If larger sums are needed, it is better to use call or installment loans. The former work much like a Dina, but require a monthly minimum repayment. Installment loans, on the other hand, can also be used over the long term, as the interest rates are much cheaper compared to the credit line.