Combining different loans and credits provides an overview and always yields substantial savings . Especially now that interest rates are historically low, from 3.5%. You save hundreds of euros per year if you can pay off all outstanding credits such as overdraft, credit card debts and mail order credits in one fell swoop through one Personal Loan with a lower interest rate.
If you have loans from different lenders, it is also difficult to keep a good overview. After all, you pay a different (and often too high) interest rate for each loan amount. The interest rates for small loans are proportionally higher than the interest rate for one large loan. If you combine all loans into one Personal Loan , you shorten the term and lower your monthly costs .