How serious is a loan comparison on the Internet?

Whether new clothes, the next dream vacation or a great TV – buying goods over the Internet is usually not only more convenient, but in many cases also cheaper than in the store. However, when it comes to opening a new account or taking out an installment loan, many consumers are skeptical and reluctant to do their business in the branch rather than on the World Wide Web.

In principle, a certain caution against buying goods and services on the Internet is not inappropriate – taking a loan through a reputable comparison portal is not only safe and convenient, but also significantly cheaper than in a bank branch.

Banks are looking for new sales channels on the Internet

Banks are looking for new sales channels on the Internet

For the banks themselves, the sale of their products via a comparison portal is a welcome new sales channel: by listing them in a credit comparison, the institutes can save themselves high expenses for marketing campaigns or customer acquisition. If a loan is successfully brokered via the comparison portal, the bank only has to pay a commission to the portal. In this way, both the bank and the customer benefit: the bank saves high expenses and can therefore offer its customers the loan at more favorable terms.

In addition to the usually more favorable terms that banks offer for their loans in online comparisons, users benefit from another advantage: service hotlines with credit experts from comparison portals and direct banks are usually also available to their customers outside of the usual bank opening hours. Additional contact options for the consultants on the comparison portal and the customer advisors at the direct bank also exist via email, fax or post.

These features distinguish a serious credit comparison

These features distinguish a serious credit comparison

But there are certain features that separate the wheat from the chaff and distinguish a serious online loan comparison from dodgy providers. So-called “trust seals”, ie special awards that confirm the trustworthiness of the website or the provider, provide clear evidence of a trustworthy credit comparison. A well-known element of trust is, for example, the TÜV logo. Another source that can confirm the seriousness of a credit comparison are generated and genuine customer ratings, which are collected by an independent rating company.

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