How do I best fund a funeral?
When a person dies, each of the mourners wants the deceased to gracefully take the last rest. However, a good and proper funeral is associated with high costs. But many families and relatives can not afford the funeral expenses alone. Here financing a funeral loan could be an adequate solution.
What to do if there is no money for the funeral?
A loved one has left you and you would like to bury him dignified. But the cost of a good funeral is high. After all, for an average funeral, between 5,000 and 10,000 euros must be paid. get paid. Ideally, the deceased has already taken out a mortgage insurance during his lifetime, with which the funeral costs can be paid. Unfortunately, few people think of taking out such insurance, so the funeral is financed at the expense of the survivors. If the funeral exceeds your financial scope, there may be a possibility of debt financing.
Which financing alternatives are there for the funeral / burial?
If you want to finance the funeral, the following financing alternatives are available:
1. Classic installment loan
2. Online installment credit
3. Private loan
What is a classic installment loan?
Probably the most popular form of financing for a funeral in Germany is the classic installment loan. This means that the bank pays out a pre-determined loan amount which you will have to repay after a certain term plus interest. As a borrower, you are required to pay a precisely calculated loan installment to the lender every month. The advantage of this form of financing lies above all in the fact that no purpose has to be indicated to the bank.
TIP: The installment loan can be applied for at your house bank, which is usually informed about their financial situation and can prepare a corresponding offer. However, better conditions are offered by so-called online direct banks.
Financing through online loan?
The online installment loan is similar to the classic financing option. However, the interest rates that are taken by the so-called direct banks for a loan, better than a branch bank. In addition, the approval process for the loan application is much faster than at the house bank. For example, loans are offered on the Internet with instant confirmation. Since a funeral has to take place in Germany in a relatively short time, the fast processing time of the online banks plays a crucial role.
TIP: Even if online banks agree to a loan application in a few minutes, that does not mean that the loan actually came about. A loan is only valid if the corresponding loan agreement has been signed by both parties.
Private credit privately for funeral expenses?
Another financing option is Private Private Loan which is offered on the Internet by certain financial intermediation portals. Here, the money is not from a bank, but is provided by private investors. The main advantage of this financing is that even customers with a not so good creditworthiness can get a loan here.
Conclusion: financing the funeral is possible in principle.
No matter which financing you choose, it is especially important to compare all credit offers with each other. In this regard, comparison portals on the Internet offer free and non-binding credit calculator, with which you can quickly determine the best loan for you.