Expensive start to the year: How to avoid overdraft facility interest

According to a survey, 10.4 million Germans slip into the overdraft facility in January. Learn how you can get your finances under control and benefit from the #SmartEffect.

This Article in Brief

10.4 million Germans have already overdrawn their accounts, and by the end of January it will be around 18 million
Your overdraft is costing you money: The overdraft interest is currently 8.29% per year on average
The overview of your income and expenses brings clarity
Your way "back in the black" on your current account can be accelerated if you convert the overdraft facility into a suitable consumer loan
Contact us now for a free, no obligation credit checkup

Avoid consumption "on credit"

When it comes to purchases, it is important to have a good plan. Because if the current income is not enough to cover the running costs, only one thing helps: lower costs. Otherwise there is a risk of ever increasing debt: In addition to consumer spending, interest must now also be paid. The financial leeway is therefore becoming increasingly narrow.

Household books, which are now also available as professional apps for smartphones and tablets, have proven their worth in order to get an overview. The idea behind this: Those who meticulously record their daily expenses will quickly discover positions where savings can be made. Often, just being aware of the weekly or monthly amount of the individual expenses is helpful in order to change one's own consumption behavior and thus save money. And there are usually plenty of starting points.

Debt overdraft facility in installment credit

What many do not know: The way to the plus on the current account can be accelerated significantly if you convert the overdraft facility into a consumer loan. Almost always, well over half of the monthly interest charges can be saved, and the private account is balanced from one day to the next. Even with one or more existing installment loans, the interest rates can be reduced considerably by combining them into a comfort rate, thus saving costs. The #SmartEffect, so to speak: The financial freedom gained can then be used to save or do other things.

But what should you watch out for if you want to reschedule debts in this way or use a consumer loan to finance part of the costs for major purchases such as a new kitchen, a new television set or new furniture?

Favorable conditions

With favorable interest rates from 3.49% over the entire term, the Smart private loan offers top conditions. Because on average, the interest rate on consumer loans is over 8%.

Fast loan approval

A quick and straightforward credit check is important. You are in good hands with an investment advisor. He can convince with his experience and an online loan decision from Deutsche Bank and, if the creditworthiness is correct, immediately receives a confirmation for his customer in the customer interview. He takes care of all the formalities.

Broad credit leeway

Financing through Deutsche Bank is not always possible. Here, too, the Smart personal loan helps . In this case, a second banking partner is requested conveniently and online. This has different requirements and thus offers an alternative option for loan approval.

Full flexibility

Of course, the Smart personal loan offers full flexibility in terms of term (12 to 84 months), loan amount (1,000 to 75,000 euros) and installment. The latter determines how quickly the loan is repaid. A special advantage of the offer: special repayments are possible at any time.

The "Privatkredit Smart" highlights

- Top interest: from 3.49 *% per year
- full flexibility with the "Privatkredit Smart Plus" personal loan
- Amounts from 1,000 to 75,000 euros
- Duration 12 to 84 months
- Free voluntary repayments at any time
- Free current account from Deutsche Bank in connection with the personal loan of the Deutsche Bank
* Your financing could look like this: Net loan amount 15,000 euros, effective annual interest 3.49%, fixed borrowing rate 3.44% pa, monthly installment 201.16 euros, term in months / number of installments 84 months, total amount to be paid 16,897.15 euros. Representative example required by law in accordance with § 6a, 46 Paragraph 4 PAngV. The interest rate depends on the creditworthiness. The lender is DB Privat- und Firmenkundenbank AG, Theodor-Heuss-Allee 72, 60486 Frankfurt am Main. Standard conditions: net loan amount from EUR 1,000 to EUR 75,000; APR from 3.49% to 9.99%; Fixed borrowing rate pa of 3.44% to 9.56%; Duration from 12 to 84 months. Assuming creditworthiness