Money shortage in the crisis: The coronavirus brings great financial uncertainty

The state supports the self-employed and companies with financial aid packages worth billions of euros. And even if the federal government helps families and employees with one-off payments and tax benefits, they often only have the way to the bank if they are looking for a noticeable relief in their wallets. But even there the corona crisis is noticeable: Many banks are now charging higher interest rates for loans to protect themselves against possible defaults.

Quick help

Due to the current pandemic, many people are on short-time work or are even worried about their jobs. “Many customers speak to us openly about their financial worries. Shouldering temporary cuts in monthly income has been and remains an economic challenge for many. In such difficult times, we listen carefully to find solutions that meet their needs and to protect our customers from financial bottlenecks. That is why we have been offering existing customers the particularly affordable and unbureaucratically available one since the beginning of the crisis PSD bridging loan at. But new customers are also helped quickly. We remain fair and have not increased the interest rate for the PSD PrivatKredit in recent years, ”says René Königshausen, CEO of PSD Bank West eG.

Financed fairly

In order to make ends meet in the current situation without having to worry about financial restrictions in the future or worrying about the small print – this can be done quickly and easily with the PSD private loan. It can be taken out from a loan amount of 2,500 euros, the terms are freely selectable from twelve to 96 months. This allows the monthly loan installment to be easily adapted to individual circumstances and personal needs. And because it has to be quick sometimes, he can PSD personal loan can be concluded directly online.

Reduce expenses

What makes the PSD private loan particularly attractive: It is not earmarked and can therefore be used individually. In addition, the loan can be repaid faster than planned at any time through free special repayments after an unexpected financial injection. In addition, borrowers can rest assured that the PSD Bank West eG plays with open cards and there are no hidden costs in the loan agreement. That is why there is only one interest rate – and it is the same for everyone, regardless of the chosen term. So there are many good reasons to use the transparent and fair credit from PSD Bank West eG to give yourself more room in the current difficult situation. This also works, for example, if you can replace an existing, more expensive loan with another bank and thus reduce your monthly expenses.

Digital offers

The offers and services of PSD Bank West eG endure even in times of crisis. Over the past few months in particular, the cooperative bank has proven that it could always be there for its members and customers in person even during the corona lockdown – by phone, but also face-to-face via online video advice. The credit institute now benefits from the fact that it adjusted to the digital requirements of the future at an early stage. The bank is constantly optimizing its services and sales channels and has been paying special attention to making it more user-friendly for many years Online solutions. In addition to the personal loan, many other products – for example the current account or the modernization loan – have been available online for a long time, saving customers the need to go to the advice center. From the loan request to the loan payment – all steps can be carried out digitally on your home computer. No wonder that in 2020 over 55 percent of PSD personal loans were taken out online.

Safe from the start

Last year, the bank contributed around 3,300 new installment loans to the fact that many people were able to close financial gaps quickly. The reasons for taking out a loan were as varied as the people behind it: If one person wanted to bridge a pandemic-related bottleneck, the next one needed a car to find a new job. Still others used the time at home and finally got the long-awaited dream kitchen. But one thing is always true: If you want to take out your loan with a clear conscience, you should be sure from the outset that it is a fair, solid and long-term offer.

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