It is often assumed that branch banks offer their loans more expensive than online direct banks. But is that really the case or is it a widespread rumor?
Both options, whether house bank or direct bank, have advantages and disadvantages. The big advantage of conventional house banks is the mostly dense branch network. Regular personal consultations allow a personal relationship to be formed between the customer and the bank advisor. Many customers simply appreciate the possibility of being able to contact their bank advisor at any time and trust them. Such a closeness to the customer can be established and maintained solely by the large number of consultants. It is obvious that the high branch density and staffing levels also cause gigantic costs. Branch banks therefore have much less scope when it comes to the conditions of their products.
Online direct banks have increasingly appeared in the banking sector
In contrast to branch banks, rely on modern technology and lean processes instead of personal customer contact. Automation and modern means of communication such as the Internet replace manual processes and bank advisors. Online banking made it virtually unnecessary to go to the branch. Direct banks also offer advice, just not in a personal conversation, but by telephone or via the online dialogue. This technology-oriented approach is characterized by an enormous increase in efficiency. The cost structure of direct banks differs significantly from that of the branch banks. This is also reflected in the conditions for loans. In this way, direct banks can base their credit conditions more on the key interest rates, ie
Nevertheless, practice shows that there is no clear answer to the question “Who offers me the better credit – the house bank or the direct bank?”. On the one hand, the special type of financing is decisive, on the other hand, the length and intensity of the customer relationship can also influence the credit conditions. For example, if you have been a long-term customer at your house bank and have known your bank advisor for 20 years, they already know your income situation very well. The longstanding relationship of trust can tip the scales when negotiating credit terms. If you present your house bank with a specific, cheaper loan offer from a direct bank, this can also lead to a lower interest rate at your house bank. In addition,
Researching the interest rates currently available on the market is definitely worthwhile. Credit comparisons offer the opportunity to quickly get an overview of loan providers and interest rates. Many consumers obtain individual offers from several banks in parallel and compare them directly with one another.
But there is an easier way
If you do not want to bother to hurry from bank to bank and obtain various offers, simply contact Thinkmoney Credit. We are connected to over 300 partner banks and financial institutions, including branch banks as well as direct banks, and can thus determine the best loan offer for our customers in real time. Getting the best loan is not time-consuming, it only takes a few minutes. After filling out the Thinkmoney credit form, you will receive the loan offer that suits you best within a short time. However, you do not have to do without customer proximity and personal contact. Because we also accompany you beyond the payment of your loan.