Spontaneous short vacation, surprising repairs or additional money simply free to use: A cheap call credit fulfills all financing requests without having to be canceled at your bank. Repayment and special repayments are possible at any time free of charge – make your finances easier and more flexible from now on.
Who does not want this: More financial freedom on favorable terms and without fixed terms. With a fixed budget and variable interest rates, you can stay mobile today without fixed loans and fixed monthly payments in finance.
Because with the modern credit facility, you as a consumer set a limit together with your bank that is permanently available to you. So you determine the amount of credit that the bank will hold for you without asking. This agreed credit line is then the highest available loan amount that is now available to you. With this, you can plan financially in everyday life and always use it as needed.
Framework credit or call credit – both are known
Framework loans are often known in Austria as demand loans or call facility. With this special variant, as a consumer, however, you pay back the credit line used with monthly loan installments – with variable interest rates and also without a fixed term.
From this perspective, on-demand loans are a mix of installment loans and flexible framework loans. Most of these are processed via a separate credit account – for example, a mini-credit account next to an existing current account and salary account or a credit card.
On-demand credit – sufficient income and good creditworthiness are important
Your personal credit rating also determines the conditions and the amount of the loan for the credit line and call credit. The limit of disposal provided is based on the one hand on the income and financial situation of the borrower.
Furthermore, your general creditworthiness as the applicant and his entries at naturally play an important role. The following applies to reputable providers: The better this turns out, the higher your available credit limit at the respective credit institution.
The effective annual interest rate on call and framework credit is crucial
The interest on a credit line – regardless of whether it is an effective annual interest rate or a debit interest rate – usually oscillates in Austria between the interest rate for a classic consumer loan and the interest for overdrafts on the current and salary account. This is usually five to eight percent a year. No matter whether you want a net loan amount of 500 dollars or 5,000 dollars – a precise comparison in our interest calculator is always worthwhile.
Because banks can change their interest rates for credit lines at any time, whereby the level of the interest rate – both the fixed borrowing rate and the annual percentage rate – is mostly based on the reference rate of the European Central Bank (ECB), as is the case with overdraft facilities.
Editor’s tip: Your bank should immediately discuss any changes in interest rates with you as the borrower. Because interest in framework loans is usually collected monthly. A regular comparison from provider to provider can be worthwhile. An effective annual interest rate that is one percent lower quickly brings you 100 dollars and more per year in the cash register.
Framework credit – pay attention to differences in payment and repayment
Has your free credit line been permanently applied for? Then the sum is now ready for you to call. This has many advantages:
If you need money now, simply call up the necessary amount on the credit line account. However, you do not have to use the entire credit line right away, because banks often do not require minimum amounts for access. As a consumer, you only pay interest on the amount that you are currently using. The call credit is, therefore, a cheap money reserve without a fixed term of the credit line.
However, there are differences when it comes to repaying call credits. Many banks agree with their customers on a monthly minimum rate that is due at the specified time. This is based on the amount of the credit line called up and is levied as a percentage.
For you as a consumer, the minimum rate also means that you can pay off larger sums. Depending on your budget, you yourself determine how long you have to hold what amount in your call account. However, you should note that the earlier the repayment is made, the more interest and cash you save.