Unscheduled repayments are payments made by the borrower that are unscheduled and in addition to the monthly repayment installments. They are basically for faster repayment or. Debt relief. A special redemption right must also be separately named and listed in the contract. Not all banks offer free unscheduled repayments at all times. Many unscheduled repayments are possible only 1x per year sometimes free of charge. If fees are charged for unscheduled repayments, they often amount to between one and three percent of the unscheduled repayment amount. For example, if you want to pay off a loan in its entirety before the end of the term, you may even be charged an early repayment penalty. But how does the easyCredit unscheduled repayment work?? And will there be a cost for this? Everything important about easyCredit unscheduled repayment can be found on this page of Qomparo.
The most important information at a glance
- EasyCredit offers different services in terms of security, flexibility and additional services: Basic and complete package.
- Basic package: Special repayments 1x in 12 months free of charge up to 50 per cent of the net credit amount
- Costs of 0.5 to 1 percent are due for unscheduled repayments made several times a year and amounts exceeding 50 percent of the net loan amount
- Complete package:Unscheduled repayments and installment increases are possible at any time free of charge.
The easyCredit unscheduled repayment in the basic package
At easyCredit you can take out an installment loan online, by phone or in one of the more than 50 easyCredit stores or. The easyCredit special repayment package can be taken out at over 10,000 branches of the FinanzGruppeVolksbanken and Raiffeisenbanken. Customers can always choose between a basic and a complete package comprising security, flexibility and additional services.
The Flexibility basic package is particularly suitable for borrowers who do not prefer rapid repayment. But here they can still fall back on the option of unscheduled repayment. Once a year – that is, in twelve months – a special repayment in this package is even possible free of charge. Limited is this special repayment however on 50 per cent of the net credit amount.
However, if the borrower wants to make unscheduled repayments several times a year or more than 50 percent of the net loan amount, fees will be charged for doing so.
- 0.5 percent of the unscheduled repayment amount for a remaining term of less than twelve months
- 1 percent of the unscheduled repayment amount for a remaining term of more than twelve months
GOOD TO KNOW!
Even if a quick repayment of your loan with easyCredit is less important to you and you prefer to repay in constant monthly installments, the free easyCredit unscheduled repayment 1x per year is still available to you with the basic package. Up to 50 percent of the net loan amount can be repaid here and completely free of charge. Fees of 0.5 or 1 percent are payable if unscheduled repayments exceed half the amount or are made more frequently in a year.
The easyCredit unscheduled repayment in a complete package
Since people have different needs and ideas – also with regard to their loan repayment, easyCredit also provides its customers with a complete package for the repayment of the loan. This keeps open the possibility of repaying the installment loan in part or in full more quickly.So if the borrower has additional liquid financial resources available, unscheduled repayments or early repayment of the entire loan amount are possible at any time and free of charge. In this context, the borrower can also decide whether to increase his monthly installments.
Unscheduled repayments of up to 500 euros are recorded as an advance payment on subsequent installments, while unscheduled repayments of more than 500 euros result in a reduction in installments, for which easyCredit sets up an adjusted payment plan for this case.
How the complete package differs from the basic package in terms of costs is not shown transparently on the easyCredit website. However, since the debit interest rate is a creditworthiness-dependent effective interest rate that can vary between seven and twelve percent, it is conceivable that the costs for the two service packages will differ in terms of the interest rate amount. Thus the interest will be higher sometimes, if a borrower decides for the complete package.
NOTE!
easyCredit unscheduled repayments are also free of charge and can be made at any time if the borrower opts for the complete flexibility package when concluding the contract. A free early redemption of the loan as well as rate increases are also included in this package. The free unscheduled repayment options are probably reflected in interest premiums.
What about the easyCredit unscheduled repayment costs??
Individuality is written large with easyCredit according to own statement and is reflected in the transparent and individual consultation, whose expiration consists only of three steps:
- Determination of the individual needs of the borrower
- Determination of the financial leeway of the borrower and the appropriate individual scope of benefits
- Preparation of an optimal and individual offer by easyCredit
The first step is to find out which term and which loan amount are appropriate for the customer in connection with his or her financial leeway. As a member of the banking association easyCredit is committed to responsible lending. The possibilities at a glance:
- Loan amount between 1.000 Euro and 75.000 Euro selectable
- Term between 12 and 120 (84) months
- Creditworthiness-dependent APRs from 7% to 12
- Repayment in constant monthly installments
- Unscheduled repayments are possible and depend on the respective benefit package
- No processing fee
- Right of withdrawal of one month
- Extensive coverage possible
- Loan increase possible at any time with positive credit rating
NOTE!
In its individual consultation in three steps easyCredit would like to provide its customers with an individual offer tailored to their personal needs and possibilities. The optimal scope of services is to be found out and offered on the basis of the financial scope, the individual wishes and security needs.