Can I top up my recently paid loan?

Day by day many questions from our customers reach us. Since some topics are repeatedly discussed, we have put together the eleven most common questions and our answers in a small series.

Today’s turn is to ask: Can I top up my recent loan payout?

Life changes every day, and sometimes unexpected costs occur. In this case, you often need a loan quickly – but what if recently a loan has already been paid out? Can the funding be topped up?

The answer: An increase is usually at the earliest five to six months after the payment of the last loan possible. Theoretically, we can also start a trial before, but in practice the chances are not very good. The reason is simple: The banks assume that with a disbursed loan the current financial need should be covered. If a few weeks after the transfer opens again a gap, then evaluate the institute as a negative signal. Anyone who needs money again shortly after receiving a loan can give the impression that he does not have his finances under control. Of course, this does not have to be the case, the banks interpret another loan request but quickly in this sense.

The situation is different when credit rates have always been on time for five to six months. In this case, the signal to the banks is completely different and only positive: As a borrower, you show that you are reliable and that you service your loan properly. They prove to be reliable and honest repayers as any bank desires. That’s why you are more likely to be open-mouthed now with your loan request.

A tip at the end: We always advise our customers, the loan amount not too short to calculate. If you currently need $ 3,000 and then borrow that amount, you will not have a buffer for unexpected expenses. However, if you decide directly for 4,000 or 5,000 euros as a loan amount, you can create a reserve. You do not have to use the expensive credit line when suddenly a larger issue is pending. And you do not need to ask for funding again shortly after paying your loan.