How to open a German bank account
A simple step-by-step guide on how to open a bank account in Germany. Open an online Germany bank account and documents required to open a German Bank account
Read MoreCredit Loan in Germany
Are you a foreigner and looking to get a loan in Germany? It may be a small loan to furnish your new apartment after moving to Germany, or a big loan to buy a car or a house in Germany.
This article provides all the basic information you need to know about getting a credit loan in German, the types of loans in Germany, the requirements of getting a loan and other alternative ways to obtain a loan even if you have no credit score in Germany.
Types of Loans in German
There are different types of credit available in Germany depending on the purpose of requiring the credit. The main types of credit loans are:
- RatenKredit – Installment Loans: Personal Loan with a variable monthly payment
- RahmenKredit – Personal credit loan with a fixed monthly payment
- AutoKredit – Loan for buying a Car, Car Loans for auto financing in Germany. Read more about How to get a Car loan in Germany.
- Wohnungskredit (Immobilien)– Credit for a Home, Home Loan or House Mortgage Loan
- SofortKredit – Instant Credit
Requirements for getting a Loan in Germany
Germany is a credit conservative country and does not offer credit loan easily unless you meet some basic requirements. Therefore, in order to obtain a credit loan in Germany from a bank, you will have to meet at least the following requirements:
- A good SCHUFA score., i.e good credit rating. Learn more about how to keep a good Schufa credit rating here.
- A residence permit (preferably permanent), or at least a resident permit or Visa that covers the entire period of the loan.
- Regular and stable income: You should be able to provide your salary slips. If you are a freelancer you can show your previous year tax returns and regular monthly billing. If you get regular work from a single client, you can ask the company to write that you might be getting regular work from them and the possible amount you will earn from them.
If you have the above conditions, you can try for a loan in Germany from a bank, which usually has a lower interest rate.
However, do not be disappointed since you can also get credit loans from other institutions if you do not have the above requirement, but with a little bit higher interest rate.
Reason is important
Although at the end it is all money, a lot depends on if you are applying for the right type of loan with the right loan provider.
For example, if you are applying for a mortgage, you will have a high chance if you have more than 20% downpayment of the value for the house. There are many options for getting a mortgage.
If you are applying for a car loan, it is better to apply directly with the car dealer as they have better deals and connection with the banks.
Where to get a loan
There are different institutions which provide loans in Germany. Depending on the institution, the rate of interest changes.
1. Credit loan from Banks
The first option is to try the bank you are using for a loan. Normally, they provide credit with the lowest interest rate and easier documentation as they know the client. Sometimes, you can also use other securities (stocks, fixed deposits) with the same bank as collateral for a favourable interest rate
However, this comes at a cost. You will have to show a very good credit rating and a stable income. For this, you would have to be living in Germany for at least a couple of years and should have a permanent residence permit or one with a long validity period. Examples are the Sparkasse banks, Volksbank etc.
- Lowest interest rate for Home loans
- Provides larger loan with a longer repayment period
- Requires good credit score
- Usually 2 to 4 per cent interest for long-term house loans
2. Loan from Credit Institutions
They provide easier credit than the banks and most of them are online. However, the fees are usually higher than the Banks. some examples of such credit institutions in Germany are Barclays Credit or EasyCredit.
- Low-interest rate for small and short term loans
- Especially for personal loans with small loan amount with faster payment terms
- Requires a decent credit score
- usually between 4 to 10 per cent interest on short-term loans.
3. Peer-to-Peer lending
They are mainly websites which provide an interface between lenders and borrowers. In some cases, the investors just invest in the website which then selects the people who may borrow.
This can be an option for foreigners who have not been in Germany for a long time but need a credit loan in Germany. They have a high-interest rate depends on the credit score. So, if you have a decent credit score you can get a loan with a lower interest rate compared to someone with a negative credit score.
Examples of peer-to-peer lending systems are Smava, and Lendico.
- High interest rate
- For personal loans with no or negative SCHUFA score
- Can also get credit with a lower credit score
- usually between 3 to 14 percent interest on short term loans.
4. Mini Loans
It is good financial practice to have an emergency fund saved up which covers at least 3 months of your expenses. But, we understand that time might be tough and sometimes you might end up living paycheck to paycheck. The first advice is to ask your family or friends, but when living abroad it might not be possible.
These loans are short-term loans to meet an urgent requirement which cannot wait till your next paycheck. Sometimes also called payday loans, they usually run for a month or two and are for very small amounts. It is also more lenient with a credit score. But, the interest rates are very high and can go as high as credit card rates of 15 per cent.
Some options for mini loans are:
Warning: Use this only as a last option, and always pay back on time.
- Immediate loans
- Short duration (as small as 1 month)
- Small loan amounts, normally €500 and a maximum of up to €1500.
- Also for lower credit score
- High-interest rate
Personal Loan for Foreigners
It is normally a challenge for foreigners to successfully get a loan because of their credit score (SCHUFA) as they do not have a long creditworthiness history. However, there as some ways you can get a loan.
Ask your bank
Your bank will have details of your financial status, as they see the income and balance you maintain. Therefore, unlike other banks who have no information about your creditworthiness, your house bank will be more relaxed even if are new and do not have a Schufa credit history.
If you have a bank account with a branch, approach your bank in person to discuss this and explain them the reasons.
Overdraft credit (DispoKredit)
Depending on the amount of loan you require, maybe you can opt for an Overdraft credit facility with your bank (DispoKredit). This allows you to withdraw from your bank even if you do not have enough balance left in your account.
Usually, the overdraft amount is low. About €600, or 50% of your monthly net income. However, if you just need a short term loan for a small amount, this is a good option.
Overdraft incurs higher interest charges (about 8% p.a) which will be incurred each month.
Intermediary services
There are some service providers who act as an intermediary between loan providers and you and get a small commission from the bank.
But since they have a good deal with the loan providers, overall it does not cost you a lot more than usual. However, sometimes, these intermediaries offer good deals to promote their services and you might be lucky to get a great deal.
Some options for loan intermediary:
Schufa Scores
Making Credit Requests
There is a difference between checking for loan condition when shopping around, and applying for a loan.
When shopping for loans, make sure that you are only making a conditional request (Konditionen Anfrage). This request will only be visible to you and not be to the others. So the other banks will not know you are shopping around.
Do not apply for a loan using the hard credit request (Kredit Anfrage). This request will remain on your credit report as a request which others can see. This will affects your credit score. Even when it comes time to apply for the loan, do not apply for more than one loan at a time.
To keep a track of your requests, register for an online account with SCHUFA.
Compare Loan providers
50 thoughts on “Credit Loan in Germany”
Leave a Reply Cancel reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
- Home
- Bank Account
- Credit Cards
- Loans
- Invest
- Guide
- Deals
First of all, thank you for this useful forum. You cannot imagine how your articles help making the banking system clear and accessible.
Second, according to this article, one must be a German resident to get a mortgage.
I am a German citizen but lives outside Germany.
In the attached link for an article its says that getting mortgage for non-resident is possible.
https://www.expatica.com/de/housing/How-to-get-a-mortgage-in-Germany_740222.html
I would be glad to have your advice.
I’m Professor james perry from Washington DC in USA, I’m a private loan lender. Although this is a Loan Lending Group Of Company Worldwide.In this company we offer various types of ?? loans, please kindly contact me on my personal email: jp6742096@gmail.com
Are you thinking about buying a house in Germany? Our professional advisors and free online mortgage calculators at LoanLink will help you navigate every step of the property purchasing process with ease – visit here to learn more! https://www.loanlink.de/
Hello I am elli my personal request for a loan of 50 thousand for correction and car pls reply
Guten Tag,
Ich bin bei der Suche eines Kredits von € 25.000,-
Bei einer Rückzahlung von 36 Monaten
Wer kann mir Geld leihen ?
Mit freundlichen Grüßen
Ich bin Professor Christopher Brown aus Washington DC in den USA, ich bin ein privater Kreditgeber. Obwohl dies eine Kredit-Kreditgruppe von Unternehmen weltweit ist.
In diesem Unternehmen bieten wir verschiedene Arten von 💶 Darlehen, kontaktieren Sie mich bitte unter meiner WhatsApp-Nummer: +2348024581796
LNachricht an uns per E-Mail rn6243307@gmail.com für schnellere Ausleihe okay
Hi all,
I live in Germany, Munich since 2 years now. I have a job with a net salary of 1220 Euro, a bit more with monthly bonus.
I’m looking for a loan of at least 2500 Euro to completely furnish my apartment but so far no luck with banks and other lending institutions.
I just need a loan between 2500 to 3500 Euro to repay in 36 to 48 months with interest.
If you are interested in lending you can contact me here: kcromeo7@gmail.com
Kind regard
Cyrille K.
Hello I am looking for some help or assistance here.
I need credit loan amount betweeen 30 – 40 K Eur for personal reason.
I am resident permit holder duration with 2 years this of course would like to extend.
Do I have any chance here to borrow this amount?
Please send me a message.
callhitomi @hotmail.com
Hi,
I am Farhath Faily and am here in Berlin to follow my Masters in Computer Science in a private Hochschule. I pay to my chule for my studies and I require a loan facility to pay my fees.
I can provide further details about me. Is there any possibilities to get an education loan?
Kind Regards,
Farhath
I’m Professor Christopher Brown from Washington DC in USA, I’m a private loan lender. Although this is a Loan Lending Group Of Company Worldwide.
In this company we offer various types of 💶 loans, please kindly contact me on my WhatsApp number: +2348024581796
this person is a criminal, a fraudster. The phone number is from Africa and not the united states. please block this individual.
If you are looking for a home loan to buy property in Germany, you can check the mortgage rates here and get a free quote today: http://www.hypofriend.de
Hello
I am student in Germany and receive money from my parents which send from my country.
I need mini loan .
Is it possible to apply for loan?If yes, how much?
ARE YOU FINANCIALLY DOWN? Do you need a loan
to start up business or pay off bills?
you the loan. Contact us via[ahmadsadloancompany@gmail.com for fester responds
I’m Professor Christopher Brown from Washington DC in USA, I’m a private loan lender. Although this is a Loan Lending Group Of Company Worldwide.
In this company we offer various types of 💶 loans, please kindly contact me on my WhatsApp number: +2348024581796
Yes
Just write us on Gmail: rn6243307@gmail.com
For more information
Get a loan for car and house, email:markrb87@gmail.com for more information
I need a loan
I’m Professor Christopher Brown from Washington DC in USA, I’m a private loan lender. Although this is a Loan Lending Group Of Company Worldwide.
In this company we offer various types of 💶 loans, please kindly contact me on my WhatsApp number: +2348024581796
I need a loan of about 25000 to buy house my salary is 1500 + my 600 which I get as a window is it possible
ARE YOU FINANCIALLY DOWN? Do you need a loan
to start up business or pay off bills?
you the loan. Contact us via[ahmadsadloancompany@gmail.com for fester respond
I’m Professor Christopher Brown from Washington DC in USA, I’m a private loan lender. Although this is a Loan Lending Group Of Company Worldwide.
In this company we offer various types of 💶 loans, please kindly contact me on my WhatsApp number: +2348024581796
ARE YOU FINANCIALLY DOWN? Do you need a loan
to start up business or pay off bills?
you the loan. Contact us via[ jp6742096@gmail.com for faster responds
Yes it
Just message us via email rn6243307@gmail.com
For faster response
ARE YOU FINANCIALLY DOWN? Do you need a loan
to start up business or pay off bills?
you the loan. Contact us via[ahmadsadloancompany@gmail.com for fester responds
I’m Professor Christopher Brown from Washington DC in USA, I’m a private loan lender. Although this is a Loan Lending Group Of Company Worldwide.
In this company we offer various types of 💶 loans, please kindly contact me on my WhatsApp number: +2348024581796
Good day everyone,
Are you interested in getting loan? search no further contact us today for you easy access loan.
anderssonlainafinansieraan@gmail.com
Do you need a loan ?
anderssonlainafinansieraan@gmail.com
never thought i would be free from HIV again after been diagnosed in 2012, i have tried everything possible in life from one hospital to another, series of tests, different kinds of medication, i had already lost hope until i meet Great testimonies online about Dr. Allen specialist in herbal medication from Africa, i contacted him and he prepared HIV herbal medication for me which i took for 6 days and now i am completely cured. i want to use this medium to express my gratitude to him for saving my life and curing me from HIV , for taking away all my pains and sorrows, I”m indeed grateful and i am so happy I”m now completely free from HIV . i will continue to tell the good news of your great works to everyone, if you have EMPHYSEMA, HERPES, HEPATITIS B,ZIKA VIRUS,HPV or other disease contact him Email:Drallenben ig address @drallenbenherbal +220 789 3700
I want to get a loan of 3000€ and i was asked to pay 150€ before I could get the loan.
Is that real or I’m trying to be a victim of scam???
Please reply me, thanks..
If you need a loan, we offer a loan of 5,000 to 50,000,000 euros. If you are interested, please send us an email to ericordazs2@gmail.com with your telephone number, the desired amount and the desired duration.
WELCOME TO GLOBAL GOLD INVESTMENT
ADDRESS: SANTA CLARA COUNTY, CA
COUNTRY: UNITED STATE
The ways people make money are different worldwide. Some work very hard and make little. While some work very little and make big returns. Research has made it clearer that the total number of people who work very hard to make little money is 95% While just 5% work very little and make big returns. While some people struggle their whole lives trying to become financially stable and independent. And no matter how hard they try, they still have a period where their finances get off track and they find themselves in a situation saying, I need a personal loan quick but I have bad credit. While some remain financially unstable due to lack of enlightenment. Here we deal on Short terms investments which are designed to provide good returns in a short period of time. Here you can invest and get profit returns after a minimum of 7 to 10 days, one month, three months, six months and a maximum of one year. We understand that so many people are now online posting similar ad that you will invest and make a profit after 3 days. The major question is, are these people real? Our Offer closed for almost 2 years now. Then due to developing and managing of online sports bet. We have invested so much in sports betting and that is where we do make our money. If you know little or more about online sports betting, then you will know it is possible to make over 20,000USD daily. All that is required is just to predict the outcome of a particular game to be played. which club, country or individual that will win a particular game. And as a firm, We have a reliable source of odds daily. And all we do is to stake high. Our professional traders have accumulated a great experience of sports betting trade and developed a lot of highly profitable funds management schemes which allow us to put high profit returns rates for our customers.
THE MAXIMUM DEPOSIT ON OUR SHORT TERMS INVESTMENT RETURNS WITHIN 50 TO 60 DAYS IS 5,000 USD. AND BELOW HERE ARE THE RETURNS PLANS:
200usd gives you a return of $2,000 within 14 to days 20 days
300usd gives you a return of $3,000 within 14 to days 20 days
500usd gives you a return of $5,000 within 20 to days 30 days
1,000usd gives you a return of $10,000 within 30 to days 40 days
5,000usd gives you a return of $25,000 within 50 to days 60 days
Kindly get back with the following info below if your interest over the investment
1) Name:
2) Address:
3) City:
4) State:
5) Country:
6) Age:
7) Nationality:
8) Valid Mobile Number:
9) Amount to invest:
HERE ARE OTHERS CATEGORIES YOU CAN ALSO INVEST INTO:
1: GOLD AND SILVER: Gold and Silver are considered great investment both on the short terms and long terms. It is an investment involved in the trading of precious metals in the entire cycle of the Gold industry. If you are on the lookout for an uncomplicated and hassle-free way to earn returns than this is the option for you.
2: CRUDE OIL AND NATURAL GAS: Is also an investment both on the short terms and long terms. It trades you little money in crude oil and natural gas cycle. The money is being generated from sales made on petroleum and other solid natural gas in some of the countries that produce Petrol in the world. So whenever a customer purchase
petrol or gas in his or her car every day, Some percentage is been generated.
3: FARM PRODUCT: This engage your money on the importation of all farm product around the world for manufacturing. This farm product includes Timber, Rubber, Palm Oil, Cassava, and many more in the entire cycle of the FARM PRODUCT industry. Returns are 100% guaranteed with no risk involved.
TERMS AND CONDITIONS
1. All applicant must be above 18 years of age. And if you really want to know how this investment works, then you must take action by investing with any amount in the plans above and wait for 14 to 60 days for your returns.
2. We do not claim the highest interest rates available online. And this has never been our primary aim. All we consider most important is stability and timely.
NOTE: Your bank deposits are secure investments, but the returns these instruments offer are very low or even with no profit returns, with the primary benefits being only safety.
We make Payout to our clients in two forms. Here are the 2 payout payment options
1. Bank to Bank Transfer.
2. Western Union or Money Gram
We guarantee you 100% profits returns. Hurry now to invest with us today.
Thanks
Management
Ich habe eine sehr wichtige Botschaft, die ich mit allen / jedem, der einen Kredit von einem echten Kreditgeber benötigt, teilen kann. Ich freue mich, diese Notiz mit allen zu teilen, nachdem ich und meine Frau in den Händen einiger erbärmlicher Trottel waren, die behaupteten, irgendeine Art von Darlehen anzubieten. Es ist sehr schwierig, einen echten Kreditgeber zu finden, und danke an Amelia, die mir, meinen Familien und Freunden geholfen hat, ohne Geld für endlose Gebühren herauszuholen. Kontaktieren Sie sie per E-Mail creditdirect4@gmail.com ODER Whats-App +1 (201) 455-7718
URGENT LOAN OFFER AT A LOW INTEREST RATE APPLY NOW.
We are legit loan lender that offer loan to people who are in need of Loans. We give out loans for the purpose of business investment, taxes, debt,
*Car Loans
*Business Loan
*Business Expansion Loan
bills,Etc With 2% interest rate. Please contact us today.
Thanks.contact via E-mail Smartloan853@gmail. Com or WhatsApp+1(318)202-9219
Are you looking for an urgent loan
Need urgent cash APPLY NOW
Get 3% Interest For All Types Of Loan
Get The Cash You Need Fast. Loans From $1,500 – $950,000.00
QUICK LOANS; Apply now
Business Money Finance Loan Now
APPLY FOR BAD CREDIT LOAN AND SOLVE YOUR FINANCIAL PROBLEM IN 24HRS
URGENT LOAN APPLY NOW
FAST LOAN SERVICE
BEST PLACE TO GET AN URGENT LOAN
WE ASSIST THOSE THAT NEED FINANCIAL SUPPORT
Get a GUARANTEED cash Loan
LOAN FINANCIAL SERVICE CLEAR YOUR DEBT APPLY FOR A LOAN NOW
GET YOUR LOAN IN YOUR BANK ACCOUNT WITHIN 24 HOURS APPLY NOW
QUICK AND EASY FUNDING (LOANS)
CLICK HERE TO APPLY FOR AN URGENT LOAN
CONTACT NOW FOR THAT LOAN YOU NEED
WhatsApp: +15072002144 or Email: cashworldfinancelimited@gmail.com
Suchen Sie einen dringenden Kredit
Benötigen Sie dringend Bargeld JETZT BEWERBEN
Erhalten Sie 3% Zinsen für alle Arten von Darlehen
Holen Sie sich schnell das Geld, das Sie brauchen. Kredite von 1.500 bis 950.000,00 USD
SCHNELLE DARLEHEN; Jetzt bewerben
Business Money Finance Loan Now
Beantragen Sie ein schlechtes Kreditdarlehen und lösen Sie Ihr finanzielles Problem innerhalb von 24 Stunden
DRINGENDES DARLEHEN JETZT BEWERBEN
SCHNELLER DARLEHENSERVICE
BESTER ORT, UM EIN DRINGENDES DARLEHEN ZU ERHALTEN
Wir unterstützen diejenigen, die finanzielle Unterstützung benötigen
Holen Sie sich einen garantierten Geldkredit
FINANZDIENST FÜR DARLEHEN LÖSCHEN SIE IHRE SCHULD JETZT FÜR EIN DARLEHEN
Holen Sie sich Ihr Darlehen innerhalb von 24 Stunden auf Ihr Bankkonto
SCHNELLE UND EINFACHE FINANZIERUNG (DARLEHEN)
KLICKEN SIE HIER, um ein dringendes Darlehen zu beantragen
KONTAKTIEREN SIE JETZT FÜR DAS DARLEHEN, DAS SIE BRAUCHEN
WhatsApp: +15072002144 oder E-Mail: cashworldfinancelimited@gmail.com
Hello, Good day to everyone reading this, I am here to testify and let everyone know how to get loan without too much stress, I have applied with so many companies and banks and never got my loan, I cried to my pastor who directed me to a loan company, I contacted them and followed the instructions, I got my loan of 280,000 USD in less than 24 hours.. this is really amazing, I never believed that such companies still exist.. if you are out there and want a loan waste no more time. contact them on email and i can assure you of a successful loan. email . ( REPUBLICFINANCE@OUTLOOK.COM ) WHATSAPP +1 305 768 1620
Apply our PERSONAL LOAN. NO COLLATERAL
You must be:
21- to 60 years old.
Employed or Self-Employed
You are welcome to apply.
✅No collateral
✅Lowest interest rate as low as 3%.
✅Loanable amount $5000 to $500,000,000 USD.
✅No hassle and few requirements only.
✅ Applicants are welcome anywhere in the world
Please contact [openloancustomerscare@gmail.com] or WHATS-APP our company business WHATS-APP via +1(662)762 0449
Ich bin Dr. Ryan Liam aus der Schweiz in Genf. Ich bin ein privater Kreditgeber. Obwohl dies eine Loan Lending Group of Company weltweit ist.
In dieser Firma bieten wir verschiedene Arten von Darlehen an. Bitte kontaktieren Sie mich unter meiner E-Mail-Adresse: ryanliamslone@gmail.com
DO YOU NEED A LOAN TO START UP YOUR BUSINESS OR PAY UP YOUR BILLS?
CONTACT US ::smithloanfirm8@gmail.com
Hallo vrienden, ik heb zojuist de juiste leningverstrekker gevonden na zoveel ervaring met oplichting. zij verstrekken een lening zonder vooraf te betalen vergoeding. heb je een lening nodig om een huis te kopen, een zakelijke lening, een lening om een projext te starten? contact E-mailadres: {express_investors@outlook.com}
whatsapp: https: //wa.me/+1 (567) 3421175
Attention:
Do you need a loan to solve your financial burden or to invest? If so! Contact us today for loan assistance. Note: We offer a short-term and long-term loan at an interest rate of 3%. You can borrow from a minimum of $ 5000.00 and a maximum of $ 250 million.
Please contact us for more information.
Sincerely yours,
Sir unty.
unity.Loan Company.
unityloan56@gmail.com
Sir a m from TANZANIA seeking for a loan worth 150,000 $ to buy a home in my country
Sir a m from TANZANIA seeking for a loan worth 150,000$ to buy a home in my country
Hello,
I provide German mortgages for expats. Being a one man show I can provide best rates.
Please test me: https://www.german-mortgage.de/
I would also love your feedback about my website and your questions about how to get approved for mortgage in Germany and what you can afford.
I am here to testify on how I make money with Mark Robert’s ATM card and how I have my own business today. Get your empty ATM card today and be one of the lucky ones. This PROGRAMMED empty ATM card can be hacked into any ATM around the world. It really changed my life for the better and now I can say that I am rich and can never be poor again. You can withdraw a maximum of 5,000 euros per day. I can proudly say that my business is doing well and I have up to (5 million euros in our account). It’s not illegal, there’s no risk of getting caught because it’s programmed to do so. In a way that is incomprehensible, it also has a programmed technique that makes it impossible for the CCTV to recognize you. For details and costs of how to get yours today, email Mr. Mark Robert, the ATM card programmer, at your email address. via E-mail universinfo846@gmail.com. GOOD LUCK
Do you need a loan urgently for business, personal reason, here your chance we offer loan worldwide at low interest rate 2%. For your loan application contact us via email: (markscortfirm@gmail.com)
MY TESTIMONY FROM A LEGITIMATE MONEY LENDER
Have you been looking for a loan? Do you need an urgent personal or business loan? contact Condred loan world he helps me with a loan of $300.000 some days ago after been scammed of $2500 from a woman claiming to been a loan lender but I thank God today that I got my loan worth $300.000. Feel free to contact the company for genuine financial service. Email: condredloanworld@yahoo.com or on skype id: scottloanhomeplc Whatsapp number: +79096170803
I loved your blog and thanks for publishing this content about credit loan in Germany!! I am really happy to come across this exceptionally well written content. I like how you have researched and presented these exact points so clearly. Thanks for sharing and look for more in future!!Great to find Gvkfinance.co.nz which has same kind of wonderful tips, if possible then visit.