Help with debt consolidation -Please see our debt consolidation information

Indebtedness is still a problem that affects many companies in our country. In fact, according to a recent economic bulletin of the Bank of Spain, between 2008 and 2012 about 35 and 40% of companies have maintained or increased their indebtedness with the banking sector.

The report also includes the notable reduction of this type of financing in certain sectors such as construction, real estate activities or energy. In the first two cases they are related to a decrease in the dynamism of these branches of activity during the crisis and, in the case of the energy sector, it is rather a sharp cut in debt due to the reduction of renewable energy projects. Hence, financing and indebtedness are often related to the growth of a sector. The key is that this financing is sustained.

Please see our debt consolidation information 


Financing yes, but not at the cost of excessive indebtedness

And how is this possible? Well, at the time of requesting financing in the first place, it is necessary to be very clear about what we are going to use it for and if this will allow us to recover good levels of production and sales. And it is that this financing has to allow us to obtain benefits in a certain period, enough to be able to face the debt and not have to go chaining and accumulating debts and debts.

Once we have clear the purpose of our financing, we must choose the one that best suits our objective. If we often have liquidity problems because our clients are slow to pay us the bills, factoring or discounting of promissory notes will be very useful. But if what we want is liquidity to buy certain assets that allow us to increase productivity, in that case, we will need a loan for investment.

On the other hand, we can also be very useful instruments such as leasing or renting for the use and financing of certain assets, such as for example company cars.

Tips to manage debts

Tips to manage debts

However, if our company has already reached excessive levels of debt, we have to act before it is too late and the solution, in this case, is not to increase financing.

The first option is obvious, to cut as much as possible in expenses to be able to face our debts. Many times, analyzing carefully the structure of our company we can be surprised with the expenses that we have that really are not essential to carry out our activity.

Two other options that have become very fashionable during the crisis are negotiation and debt consolidation. The first one is to talk to the creditors with whom we have debts to try to negotiate them. With regard to debt consolidation at , it is about combining all the debts that we have pending in a single loan.

Loan Calculator: Get top conditions now

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 Important to the loan

  • Lower overall costs due to shorter term
    Choose a shorter term, this lowers the total cost. But keep in mind that at the same time monthly rates are rising – these should not exceed your monthly budget.
  • To arrange special repayments
    Should you ever have more money, you can reduce the credit burden with a special repayment. Therefore, make sure that your loan provides for such special repayments and that you are spared any prepayment penalty.
  • Variety of different loan types
    From call loans to forward loans and full loan loans: There are many different types. Choose the right one for you and look for special offers.

A new car, a house – such projects cost a lot of money – money that most people can not afford in one fell swoop. One way of financing offers a loan. This is a contract of law by which the borrower temporarily lends or lends money to the borrower.

When the loan is due, the borrower is required to repay the loan granted. The loan usually consists of a repayment and an interest component, which are weighted differently depending on the loan type. As a rule, the loan incurs interest which, unless otherwise agreed, is payable at the end of each year.

But there are also so-called interest-free loans, such as the Federal financial aid loan, for which the borrower does not have to pay interest. In addition to the interest rate, the loan agreement may include a loan fee, the amount of which depends on the loan amount and may vary from bank to bank.

Loan and credit

The term credit is the generic term for the loan. The loan is thus a sub-form of the loan. A loan refers to the current account overdraft mostly on high sums of money with a long term.

In fact, both are about raising debt. Loans are usually called longer term bonds with a larger amount. On the other hand, loans often have a shorter term and include lower credit sums. The legal framework for the loan is § 488 in the Civil Code (BGB). The exact wording can be found below in the text.

From a legal point of view, until the so-called reform of the law of obligations on January 1, 2002, there was another difference: in contrast to the loan, the loan was set as a so-called real contract. That is, the loan agreement was valid only when the agreed loan amount was received in the account of the borrower.

On the other hand, a credit agreement is considered to be concluded as soon as it is signed by both parties. Today the so-called consensus theory is pursued in Germany. After that the contract comes about already by the agreement of the contracting parties.

Contractual obligations b. Loan agreement (§ 488 BGB)

(1) The loan agreement obliges the lender to make available to the borrower a sum of money of the agreed amount. The Borrower is obliged to pay an interest due and to repay the loan provided when due.

(2) Unless otherwise specified, the agreed interest shall be payable after the expiry of each year and, if the loan is to be repaid before the expiry of one year, upon repayment.

(3) If a period of time for the repayment of the loan is not determined, the due date depends on the lender or the borrower terminating the loan. The notice period is three months. If interest is not owed, the borrower is entitled to repayment without notice.

loan types

loan types

Each loan must be repaid after a specified period. So you can pay the amount of money including interest, for example, in one piece or in installments, such as a bank loan. In order to best adjust the repayment to the claims of the borrower, he has the option to choose between different loan types. Bank loans differ in particular with regard to the repayment agreements.

Below is an overview of the different loan types. It’s best to check with the bank in advance to get the exact conditions. In addition, it is advisable to compare the loans of different providers to find the best possible offer. In this case, the Financedel credit comparison can be a valuable help.

call loan In the case of a release loan, an agreed loan amount is made available in the form of a credit account which the borrower can access at any time. In contrast to the discretionary credit, the repayment is made at an agreed fixed rate. If only a partial amount of the loan is debited, then only interest accrues.
annuity In contrast to the term loan, repayment of the annuity loan takes place at a constant monthly rate. The installment consists of an interest and an amortization section. The advantage: As the loan amount repaid increases, the interest rate decreases continuously. At the same time, the repayment share increases, so that the monthly rate remains the same overall. Due to the unchanged installment payment, this type of loan is easy to plan.
Building loans A special type of loan is the building society loan. This is taken out at the end of the term of a home savings contract and extends the already saved capital by a loan amount. The advantage: savers can often benefit from particularly favorable lending rates, which are already specified in the savings contract.
officials loans The Civil Service loan is for civil servants, academics, pensioners, civil servants and teachers who need capital. The official loan is a so-called bullet-end financing that borrowers in combination with life, annuity or capital insurance. In contrast to the civil service loan, the installments are not paid directly to the bank but to the endowment life insurance. With this, the debt is repaid at maturity.
Final loan With this loan type, the entire loan amount is repaid at the end of the repayment term. Only the interest rates which remain the same over the entire term due to the one-time payment of the loan amount are transferred to the bank in monthly or annual installments.
Forward loans The forward loan is a loan for the future. The advantage: The interest rate that was agreed at the conclusion of the contract, even if the loan is actually paid. The forward loan is used primarily for real estate financing. This type of loan is favored by real estate buyers, who expect interest rates to increase significantly in the future.
Real estate loans A real estate loan is earmarked for the purchase, construction or renovation of a property. Due to the security provided by the property, the terms are often cheaper than traditional loans. Partly, extensive documents such as building plans or floor plans must be submitted for application.
Patriarchal loan The patriarchal loan is a long-term loan to a company in which the lender is compensated by a profit or revenue share of the company. In addition, an additional interest may be agreed.
redeemable loan The equivalent of the annuity loan is the repayment loan. With this type of loan, the repayment portion remains unchanged throughout the repayment term. On the other hand, the interest costs decrease in the course of the repayment, whereby the installment amount steadily decreases.
Volltilgerdarlehen The Volltilger loan is an annuity loan. That is, the borrower pays a monthly fixed rate consisting of an interest and an amortization section. At the end of the term, the loan is fully repaid. This type of loan is suitable for homebuyers who want to avoid several financing rounds in mortgage lending.
Basically, the shorter the term, the higher the repayment share and the faster the loan is completely repaid.

Payout on the loan account

Payout on the loan account

Since loans are not paid out in cash, but are usually issued by banks, an account for the loan amount is also required. The borrower, the customer of the bank, must set up his own loan account. This usually has to be opened even if a checking account already exists at the bank. The banks regulate normal accounts and the money transactions taking place there separately from loans and loans, therefore they also demand the establishment of a loan account.

Fees for the management of this loan account are no longer allowed, but before 2011, these were still charged. A ruling dated 07.06.2011 (reference XI ZR 388/10) stipulated that the clause on a monthly fee for keeping the loan account in the general terms and conditions of the banks is ineffective.

The loan account is opened prior to the transfer of the loan amount and can be used for all payments related to the loan itself and the issuing of the money. As a rule, banks do not accept any other payments that are made through this account. The account should only be used for the loan amount.

The loan account must be opened at the bank which also grants the loan. An account with another bank can not be used for this.

Private loan: advantages and disadvantages

Private loan: advantages and disadvantages

You can get a loan not only from a bank, but also from individuals – such as a good friend or relative. Some companies provide loans from individuals who want to generate returns on their surplus capital to private borrowers online. This loan type is also called a private loan.

The advantages of a private-to-private loan are obvious: There are no stringent criteria catalogs for lending, as is the case with a bank loan. Private persons also determine the terms of the contract itself. Furthermore, the credit check by a credit agency such as Private credit is no longer required. In terms of collateral, too, private loans are usually very informal.

As simple as private lending appears, it still has its pitfalls. For example, if there are disputes between you and the lender, you can not contact a consumer protection organization.

In addition, it is important to record specific items such as the duration of the loan in the contract. If this is missing, your lender can terminate the loan at any time with a notice period of three months. In this case, you would have to repay the entire loan amount in one piece. Also, personal relationships can be jeopardized because of problems with the loan agreement. Private lending should therefore be thoroughly considered.

Setting up the private loan agreement

Anyone wishing to take out a private loan should in any case set up a written contract in order to clarify the terms of the contract and, in the event of a dispute, refer to the contract. The exact design of the contract is freely agreed, but certain points should not be missing. These include, for example, holding the exact loan amount and the term of the loan. In addition, the exact dates of the contracting parties, the payment date and the start of the repayment date should be determined in the contract. Should the lender give up interest, this point also belongs in the document. A signature of both parties seals the agreement.

Collateral for the loan

Especially with higher loan amounts, individuals should insist on collateral in case the loan is not repaid. The most common form of security – both for private individuals and for banks – is the so-called security transfer: According to § 929 sentence 1 and § 930 BGB thereby the lender of the borrower a valuable object is assigned as for example a car. The borrower can still use the vehicle, but must hand it over to the lender if he does not repay the secured loan.

Another common form of collateral security for a personal loan or an installment loan is the so-called security assignment. This is regulated by § 398 BGB. The rule states that if the loan is not repaid, the lender can assert claims assigned to third parties for collateral. For example, these claims may be the salary of the borrower, provided that he is an employee.

With the assignment of security, the lender has the right to approach the employer of the debtor and to claim the salary.

Interest at a low level

The interest on a loan is basically nothing but compensation for the borrowed money. The lender – be it the bank or a private person – makes so by the interest rate a profit.

The interest rates on a loan depend on various factors. These include, but are not limited to, the term of the loan and the loan amount, but also the borrower’s creditworthiness and the type of loan. The borrower is, of course, interested in keeping the interest rate as low as possible in order to reduce his overall loan costs.

In recent months, interest rates have fallen steadily. This should encourage people to borrow more money, which then flows into the economy, instead of investing money. The benchmark rate set by the European Central Bank (ECB) is a guide for banks to set their interest rates.

Currently, the key interest rate in the eurozone is at a historically low level of 0.0 percent (as of May 2017). The majority of the experts assume that the interest rates remain in the cellar for quite a while. With the low level of interest rates, the ECB wants to boost the economy, especially in the weaker economies of the EU.

Loan calculator and mortgage calculator: Aid in search of favorable interest rates

The market offers a variety of bank loans. It is difficult for the credit layman to gain an overview of the wealth of offers. For this reason, there are loan or mortgage lending calculator. The Financedel loan calculator will help you compare rates from different providers and so to find the best deal on a loan. In order to determine the ideal conditions, you must provide some information.

For example, the purpose of calculating the ideal loan is its purpose. Depending on the type of use, different loan types are suitable, as explained in the section “Loan types”. Thus, a car loan or a caravan financing can be cheaper because the vehicle can serve as security. Other parameters that play a role in finding the cheapest loan are the term and the loan amount.

After entering the necessary parameters, the credit rake calculates appropriate offers from various banks for you. Compare these together to find the best possible offer for you. In addition to the indication of the APR and the monthly installment, the Financedel loan calculator gives you an insight into the acceptance rate of the respective provider and also shows customer recommendations.

First calculate the need for money

First, calculate how much money you want to borrow before you arbitrarily enter numbers into the loan calculator. Make a list of all the costs that come with you – including utilities and taxes. The summed up costs result in the desired credit volume, also called the net loan amount. The next step is to calculate what monthly installments you can afford by setting up a household bill. With the household calculator, this is very easy to do.

Effective annual interest rate crucial

When choosing a loan, always use the APR and not the debit interest. The latter only indicates how high the interest rate is on a loan, whereas the annual percentage rate includes debit interest and other costs such as processing fees. So it represents the total cost of the loan.

Favorably influence loan conditions: You must pay attention to this

You can favorably influence the loan terms if you choose a shorter term. If the term is long, interest will be payable for a longer period, increasing the overall cost of the loan. Beware, however, of short maturities: you pay less interest overall, but the monthly installments are higher. Therefore, based on your budget, consider which monthly rate is convenient for you.

In general, the lower the interest rate level, the less the longer the maturity. But when interest rates are high, keep the maturity as short as possible.

Another aspect that can positively affect the return on a loan is a second borrower. If this is included in the contract and he has a regular income, the credit default risk for the bank decreases. Due to the greater security you are often granted more favorable terms.

In addition, you can save money by not having to take on a residual debt insurance. The insurance serves as collateral, should the borrower die, become unemployed or sick. In most cases, it is only worthwhile with a high volume of credit. Check the above points before concluding a loan to determine the most favorable terms.

During the repayment period, special repayments allow you to reduce the total cost of a loan. If you have a little money left over that you do not currently need, you can make a special payment. By repaying your loan faster, there is less interest cost.

Pay special reimbursement fees

Some providers charge special repayment fees. Check in advance whether your bank charges these fees and, if necessary, calculate whether the interest savings due to the special repayment is higher than the applicable fee.

Interest calculation for a loan: example formula

The interest calculation of a loan is based on different formulas. Depending on the intervals in which you pay the interest, the formulas differ. The annual interest formula, for example, indicates which interest accrues for exactly one year according to the nominal annual interest rate. The annual interest formula is:

Z 1 = K 0 × p ÷ 100

Z 1 is the interest income to be determined, which results from the capital K 0 multiplied by the interest factor (p). The percentage interest factor is divided by 100. The interest income thus indicates the amount at which the initial capital will bear interest for a period of one year at a specific interest rate.

Loan Calculator: Max. Purchase Price & Calculate Interest Online

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Important to the loan calculator

  • Consider all cost factors
    Include interest rate adjustments, special repayments and other eventualities to get a realistic result.
  • Always use
    Unless already done automatically, you should always specify a purpose in your loan – this will often give you lower interest rates.
  • Use modernization loan for existing real estate
    If you are a property owner, you can finance minor repairs and refurbishments through this loan.

Banks and building societies are increasingly attracting your attention – the focus is often on mortgage lending. In the course of this, the institutes always give a representative calculation example, in which the conditions are included that ⅔ actually receive from all credit customers. However, this is not enough for a comparison because there is a lack of important information on fixed interest rates, the repayment installment, special repayments and the like. An important first step to finding the right loan for you is a loan comparison in addition to the loan calculator.

This is how the loan calculator works

This is how the loan calculator works

Building societies as well as banks generally use statistical data and empirical values ​​in order to assess you as a customer for mortgage lending. In addition, they set the interest rate predominantly on a credit rating basis. However, it often makes more sense to compare different providers and find the best financing for you – the Finance Calculator calculator will help you.

The loan calculator not only calculates the required loan amount for your building project: it also shows how expensive the purchase price of your dream property can be on the basis of the data given by you. The best way to use the Loan Calculator online is to have your financial situation fully reviewed to get a true-to-life result. With the help of the calculated maximum purchase price, you can start looking for a suitable reality – however, you should not sign the contract until the mortgage financing has been completed.

An advantage of the loan calculator is that you can compare over 500 providers directly after the calculation of your loan amount. You can use the calculator completely free of charge and without obligation.

This information is required

If you would like to use the loan calculator correctly, you should enter the following information:

  1. equity
    This aspect sometimes has the most influence on the purchase price: the higher the equity, the higher the maximum purchase price. If all other data remain the same, this aspect does not affect the amount of the loan.
  2. Monthly request rate
    The monthly request rate is the amount you are willing to pay each month for the loan. The smaller this rate fails, the smaller the loan amount – and thus the purchase price of the reality. This is solely due to the fact that the providers want to get the loan back as soon as possible.
  3. Effective interest rate
    This interest rate not only indicates how high the provider pays the loan interest – also incidental costs such as the processing fees and the term are included in its calculation. So he indicates how the total cost of the loan interest. The higher the interest, the smaller the loan amount.
  4. Initial eradication
    Borrowers are prepared to pay this percentage at the beginning of the loan debt. Typically, a repayment rate of 1 percent of the loan amount is set. The higher the initial repayment, the lower the loan will be.
  5. Maklercourtage
    If a broker is commissioned to find a property or real estate, it must be paid. The amount of this commission affects the purchase price: the more the broker receives, the less left over from the purchase price for the home.
  6. Other costs
    The same applies to other costs: this includes all costs incurred in addition to the purchase price. If these are increased, the maximum purchase price becomes lower.

How to get cheap loans

How to get cheap loans

In order to obtain the best possible credit, special attention should be paid to interest, equity, maturity and intended use.

  • As low as possible loan amount
    Use as much equity as you can. Because the more you invest in the future home, the lower the loan amount, which must be repaid later. Also, raise low-interest cash investments and use them for mortgage lending.
  • Short term
    Calculate how much you can pay monthly. Then choose the appropriate maturity – the shorter, the cheaper the loan.
  • Fixed use
    Always choose a loan with a fixed purpose, as these are always cheaper than freely usable loans. For a property worth a real estate loan.
  • Involve second borrower
    Choose a second borrower who is also liable for the repayment of the loan. This gives the lender more collateral.
  • Offer additional collateral
    Provide the bank with collateral to reduce the cost of borrowing. These may be guarantors, but also land charges or capital insurances.
  • To arrange special repayments
    Special repayments can be arranged with the respective financial institution. They offer the possibility to pay additional amounts in addition to the usual repayment, in order to repay the loan faster.

Also, the loan calculator can help you to find a cheap loan : Enter all the important data and compare the individual offers together. Pay particular attention to the interest rate or the annual percentage rate of charge: this indicates what costs you actually pay each year. The interest rate, which is sometimes dependent on maturity, is regularly compared by experts and specialist journals and evaluated as an average interest rate – if the offered interest rate is lower than or equal to this, then it is a good interest rate.

Calculation: How much can I afford?

It makes sense to calculate what monthly amount you can afford before you make a loan.

  1. First, look through the bank statements of the last six months and list all regular income and expenses.
  2. Then calculate the proportionate cost of annual insurance premiums, utility bills or public charges.
  3. From the now visible monthly surplus you still have to deduct reserves for repairs, vacations and the like.
  4. Try to be as generous as possible when deducting the costs from point 3, because there may always be unexpected costs to you that were not planned.

Finally, you get a value that stays on average a month. And that’s ultimately the value that you can use as a monthly installment for funding.

If you want to pay consistent installments in the future, you can also use the Annuity Loan Loan Calculator. In this loan, the monthly rate (annuity) remains the same, it consists of repayment and interest together. The lower the interest rate that you can commit to for years, the faster you can service the loan. Especially mortgage lending, which is completed during a low-interest phase, thus also enable higher loan amounts.

Consider all costs

Always calculate the additional costs for the purchase of real estate. For example, the broker must be paid, and the notary fees and the land transfer tax must be observed. You should also remember the entry in the land register.

Installment loan or mortgage lending: what makes sense?

Installment loan or mortgage lending: what makes sense?

Who needs a loan for his construction project or the purchase of real estate, should first find out which type of loan is best for him: Worth a installment loan or mortgage lending?

What makes up the installment loan?

A installment loan can be used completely freely. Normally, you only have to transfer your salary claims to the bank. How much you can claim from this personal loan depends primarily on your credit rating and your household net income. This loan is usually used only for smaller financings up to € 70,000 – exceed this amount, high interest due. Some variants of the installment loan are:

  1. The real estate loan
    This loan can be used to build or buy a house. Since the purchase of the property is given a certain security, you often get a cheaper credit hereby.
  2. The modernization loan
    The modernization loan can be used if you already own a property but would like to make structural changes to it. This loan is earmarked – you must therefore prove your ownership by means of land register entries, tax declarations or the like.
  3. The renovation loan
    For cosmetic repairs, the renovation loan is suitable – this is earmarked and therefore attracts lower interest than a conventional installment loan.

What is a mortgage?

As a rule, a mortgage lending is used if the cost of a home over about 70,000 euros. This financing is always tied to the respective property – the bank secures the right to exploit the house through a mortgage in the land register. If you can not pay several installments, the financial institution can realize the property and repatriate part of the loan. This approach reduces the risk to the bank or building society. As a result, the institute gives you a much cheaper interest rate.

Additional costs are incurred for mortgage lending, in particular through notary fees and costs for estimates, land register entries and, if necessary, brokers. The land also requires you to pay part of the purchase price in the form of land transfer tax, sometimes up to 5.5 percent.

Sell ​​property only after eradication

If you have completely repaid the loan, the mortgage of the financial institution is also deleted. Before that, however, you can not sell the property – unless the buyer takes over the mortgage.

Step by step to mortgage lending thanks to loan calculator

If you are looking for tailor-made mortgage lending, Financedel’s Loan Calculator will help you find the right provider quickly and easily. It makes sense to first consider some considerations:

  1. What do you need financing for?
    If it is a cheap condominium or minor repairs, use a normal loan at best. If, on the other hand, you are purchasing a larger property, you should resort to mortgage lending. So you can benefit from more favorable conditions.
  2. How does the loan calculator help you?
    Using the Loan Calculator, you can find out what loan amount you received on the data you provided. You can also calculate the maximum purchase price of the desired property.

If you have decided to do mortgage lending, you should determine your loan volume – this is the only way to know how much you can pay monthly to pay off the loan. So check your monthly earnings and expenses and figure out how much you’ll ultimately have to pay for the loan. Also, find out what brokerage commissions you have in your area and what you need to pay to pay for them. With this information, you can finally use the loan calculator.

  1. Enter all necessary information in the loan calculator.
  2. Click on “Calculate Loan Amount”.
  3. You will receive an overview of the loan amount and the maximum purchase price. If necessary, change the initial repayment, the effective interest rate or the monthly installment to check your possible price range.
  4. Click on “Calculate construction rates”. You will get to a list of more than 500 providers.
  5. Enter your postal code, your method of financing and your net loan. You can also specify the repayment installment and the debit interest commitment.
  6. With “Filter & Sort” you can tailor the result list even better. Enter your employment, your provider selection and the sorting of the list here.
  7. Compare the individual offers with each other and choose the right service provider for you.
  8. Some of the listed providers can notify you via contact form, others will take you directly to the respective website. In the best case, contact several service providers in order to balance the offers tailored directly to you.

If you have come into contact with the right supplier, all you have to do is submit the required documents. Incidentally, in some cases it is possible to obtain the loan through an online procedure – however, you will need to perform a post-identification procedure to identify yourself.

Financedel Loan Calculator is the ideal way to find the right lender and loan for your purposes.

questions and answers


Can I also use the loan calculator to calculate the annuity loan?

The annuity loan is a loan in which the monthly rate remains the same throughout. However, the more that is repaid from the loan amount, the lower the interest component. In the same turn, however, the repayment share is increased – this leaves the monthly rate the same. So it makes sense to use a calculator designed for this particular loan. Nevertheless, if the above loan calculator is used, it should always be clarified with the individual providers that it should be an annuity loan.

Can I also use the loan calculator to calculate the forward / follow-up loan?

The forward loan can be completed before the loan is even used. Advantageous: If the loan is disbursed at a later date, the interest rate fixed at the time of the conclusion of the loan still applies. This type of loan is mostly used on real estate to prevent rising interest rates. The loan calculator can therefore be used for this – that it comes to a follow-up loan, but should be clarified with the appropriate provider.

What advantages does the online loan calculator have?

An advantage of the loan calculator is that you can use it completely free of charge and without obligation. In addition, the loan calculator can be operated easily and without much time. You received all offers at a glance and can compare them transparently. It should also be noted that the conditions listed are often cheaper online than in the branch banks.

Loan calculator: online calculator with top rates

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Important in the use of credit calculator

  • Note the annual percentage rate
    When comparing, always pay attention to the APR. The indication of the annual interest rate is required by law and offers you a good opportunity to compare the various offers.
  • Consider earmarking
    Assigned loans usually have lower interest rates. However, this actually binds the loan to a particular use, such as the purchase of a car.
  • Keep running time as short as possible
    Shorter terms reduce the total interest payable. But beware: The higher monthly repayment rate should not exceed your available financial framework.

Although credit calculators are clear and compact, not everyone knows how to find the best deal with them. We explain with which procedure you receive suitable results with top interest rates. At the beginning, think about what you would like to use the loan for and how many months or years you would like to repay it.

Determine the best conditions in the loan calculator

Determine the best conditions in the loan calculator

In order for you to find a low-priced offer using the loan calculator that is tailored to your needs, some aspects should be set out in advance. Decisive for the choice of the credit is, among other things, the purpose. Already with the credit comparison you can decide for the indication of a purpose of use.

You want to use the credit for your home

If the loan is to be invested in a property, the real estate financing is worthwhile: While a real estate loan usually only reaches up to a sum of 50,000 euros, mortgage lending will be increased from this amount upwards. To find a reputable provider for the loan, the use of our loan calculator for the house makes sense. In addition, you should consider some aspects in order to obtain comparatively favorable conditions:

  • Create financing concept
    To finance a property as cheaply as possible, a financing plan should be created. Take into account your life situation, your monthly income and your hedges. Using this information, you can include the real estate financing in your current costs and calculate the realistic monthly repayment. As a result, you can then create the financing concept.
  • Consider equity ratio in mortgage lending
    Although it is quite possible to conclude a construction loan without equity, but for a much higher interest rate is due, making the monthly installments are more expensive. So to get a cheap loan, you should invest equity – this can reduce your monthly exposure.
  • Observe fixed interest period
    The fixed interest period is the period in which neither the lender nor the borrower can change the borrowing rate. If the fixed interest period expires and you, as the borrower, have a residual debt, you must renegotiate the terms of the financing. So be sure to calculate that the interest rate can rise after the interest rate has expired. Be aware in advance of the final installment or the remaining debt of the loan and consider various options for follow-up financing.
  • Negotiable monthly rates negotiate
    For a number of banks it is possible to lower or increase the monthly installments during the term. This flexibility is a good idea: you can always tailor the loan to your current financial situation.

You want to use the credit for a car

The purchase of a new car is usually relatively expensive, which is why the credit is a good way to finance the vehicle anyway. For the financing of the car there are two variants:

  1. Assigned installment loan
    In the case of an earmarked installment loan, the vehicle is considered as collateral: You may only use the borrowed money for this purpose. Since the bank knows about the purpose of the loan due to this condition, usually a favorable lending rate is determined. In the loan calculator, select the purpose “used vehicle” or “new vehicle”.
  2. Three-way financing
    With this variant, you start by paying a fixed amount – then you have about three to four years to pay the installments. At the end of the term, you can either buy, refinance or return the vehicle.

Detailed information on car loan can be found in our detailed guide – the car loan calculator will also help you find the right loan.

You want to use the loan for free use

Classic installment loans can usually be used for free use – so it does not matter whether you use it to finance a new washing machine or your summer vacation. In most cases, however, it is better to find a loan that is tied to a specific purpose: since banks know the equivalent value for this loan, they usually offer lower interest rates.

So if you want to borrow for a specific purpose, like the car or the new TV, you should find out if special loans can be used for this purpose.

You want to reschedule

In the case of long-term loans in particular, it often happens that you are aware of a loan with better terms – if you want to replace your old loan with a new one, this process is called debt rescheduling. The process is particularly worthwhile with conventional installment loans with a high interest rate; earmarked loans are usually from the outset equipped with low interest rates. So, before you start rescheduling, think carefully about whether this will ultimately pay off.

Also note the cost of a prepayment penalty: To reschedule your bank, you will need to pay a transfer fee to your bank – it is always recommended to consult an expert for the credit calculation.

Rescheduling can be rejected

The bank may decline your rescheduling request and demand that you pay off the full loan. In such a case, it is best to contact the bank and discuss how to proceed.

You want to use the credit to balance your checking account

Using a disposition credit, you can cover your checking account and pay bills even when the money is tight. However, the interest on the credit line is often high, with interest rates averaging 11 percent on average. A classic installment loan, which is subject to normal market interest rates, is often cheaper in comparison. So if you take advantage of the current account credit over months, it pays to think about rescheduling.

3 tips on how to get cheaper credit terms

  • Shorter term = cheaper credit
    Important is the optimal runtime: With long term you also pay long interest rates, which makes the loan more expensive. However, if the term is too short, the monthly rates are set high.
  • Remaining debt insurance causes high costs
    Since the conclusion of a residual debt insurance is expensive, it usually pays off only for a high loan amount.
  • A second borrower lowers the interest rate
    If you name a second borrower, who also has a regular income, the risk to the bank is lower – so you can reduce lending rates.

It is therefore worth checking before accepting a loan whether this can be concluded on even better terms.

This is how you will find it in the loan calculator

This is how you will find it in the loan calculator

Here we explain step by step how to use the loan calculator to take out a cheap loan:

  1. Determine the credit volume
    First you have to calculate the required credit: List all the costs that come to you for the respective purpose. For example, if you want to take out a real estate loan, not only will the price of the house be payable – you will also have to pay the fees for the land registry, utility charges, land transfer tax and other sums.
    Collect all costs in an overview in order to calculate the necessary credit volume. Also keep in mind that the equity loan can be cheaper.
  2. Carry out a household bill
    In order to find out what monthly installments you can afford, you will need to prepare a full household bill. In the bill, compare all monthly earnings and monthly expenses. The household computer from Financedel helps you to give all the information quickly and easily. Then he sums up the amounts and calculates the monthly available credit, with which you can repay the loan.
    Incidentally, when calculating monthly payments, it makes sense to give generous financial leeway – so you can be sure that unexpected costs can be paid without too much restriction.
  3. Compare the different offers of the banks
    In order not to find the first credit but the cheapest loan for you, it is worth comparing the offers on the Internet. The Financedel loan calculator allows you to easily compare different credit providers online for free. Enter the intended purpose, the desired duration as well as the desired sum of the loan – our comparison will immediately list all the offers that are suitable for your project. However, the loan calculator will not only show you the monthly installment and the APR. You also have insight into customer recommendations as well as the acceptance rate of the provider. After inquiring about your creditworthiness at Private credit, banks often offer you a credit-based interest rate. Of course, our loan calculator is available to you as a free service.
  4. Complete the loan application
    Using the online portal of the respective bank, you can have your credit rating checked on the basis of some information, conveniently complete the loan application online and then print it out. On the other hand, some banks check your creditworthiness first and send you the documents by mail or e-mail if the result is positive. After completing the application, verify that all information is correct and sign the application at all points marked with a cross.
  5. Have all necessary documents ready
    In order to complete the loan application, important documents must be submitted. These include salary certificates for the past three months, as well as account statements, a copy of the ID card and possibly a copy of the employment contract.
  6. Perform the Postident procedure
    The credit application documents usually also contain the coupon for the Postident procedure. With the help of this coupon, you can identify yourself at a post office – this requires you to present an identification document, such as your identity card or your passport. If you have signed the Postident coupon, it will be sent to the appropriate bank together with the application and all necessary documents. Some banks now also offer the videoident procedure.
  7. You receive the loan
    After accepting your application and completing the identification process, you will receive the credit. This will be paid out within two to four business days after the exam.

It’s that easy

call option

Within 14 days of applying, you can cancel your loan, even if you have already paid the loan or parts of it.

questions and answers

questions and answers

What is a loan calculator and why should I use it?

For the most different types of loans, there are numerous providers in the network. To help you get an overview and save as much money as possible, you should use a loan calculator and perform various calculations. The interest calculator offers you the opportunity to compare different providers and to choose the cheapest loan.

Is the loan calculator free?

Yes, the loan calculator is free and the offers shown are not binding.

Debit interest vs. annual percentage rate: what is more important with the loan calculator?

The borrowing rate indicates how high a loan will pay – it remains the same throughout the term of the loan.

On the other hand, the annual percentage rate of charge is more important for the loan calculator: it not only includes the debit interest, but also essential factors such as the term or the processing fees. So he shows the total cost of the loan. With the same fixed interest period, the annual percentage rate is thus better suited to compare loans.

Is the interest displayed in the loan calculator also definitely mine?

The loan calculator usually provides only a rough way to compare different loans together. Your interest may, however, differ from this statement, because interest is always dependent on credit. The credit rating indicates how likely it is that you repay the loan on time and in full. The better your creditworthiness, the lower the interest will ultimately be.

Incidentally, your credit rating is noted in the Private credit – you can certainly also take out a loan without Private credit, but this usually has poor conditions.

What advantages does the loan calculator have online?

An advantage of the online finance calculator is that it works for free and the loans are non-binding. In addition, the product list of each loan can be compared more easily with the aid of the clear list. In addition, you have the opportunity to deal extensively and in peace with the individual offers.

Using the loan calculator online is definitely worthwhile. Already an overlooked processing fee or a few percentage points more in the APR make itself clearly noticeable in the total. However, this is always shown on the loan calculator, so that you have all the important information at a glance. Our free loan calculator will help you save!

How fast does the loan calculator determine the offers?

Based on your information, the credit comparison immediately calculates possible offers – you can then compare the non-binding information with each other. The quick query on the finance calculator also allows you to play through various options regarding the loan amount and the term (usually between 12-84 months) without having to submit a new loan application each time. Of course, you will only find reputable providers in the loan calculator. Especially good products, which have already convinced in tests, you recognize immediately on the appropriate seals.

How fast can I get the loan paid out?

If you have submitted a loan application, it will be submitted for review. After completing this exam, the loan will take approximately two to four business days to complete. If you want a faster payout, an instant loan is a sensible alternative – in this variant, the amount is usually transferred already after 24 hours. You will normally receive a repayment plan directly with your contract documents.

Car loan comparison: favorable top conditions

Category : Uncategorized

5 tips for car loan

  1. Use cash payer discounts
    Use a merchant-independent loan instead of financing from merchants or auto banks. So you can pay cash when buying a car and benefit from discounts. Although the dealer credit offers low interest rates for current models, but often higher purchase prices and rigid guidelines.
  2. Compare loans
    With offers from different banks, you can find the most suitable car loan for you.
  3. Increase creditworthiness
    For example, use a second borrower. Additional collateral can increase your credit rating.
  4. Stay flexible
    By keeping special repayments and payment pauses open, you remain flexible during repayment.
  5. Include required insurance
    Car banks often demand a fully comprehensive insurance for the vehicle. This brings further costs.

With the large selection of car loans, it is not easy to keep track. Every second new car is purchased with the help of a loan, in used cars it is more than a third. How do you recognize a cheap car loan? We explain it and show you how to find it with our loan calculator. This will take you to your new dream car without unnecessary additional costs.

How to find the cheapest car loan

How to find the cheapest car loan

Do you know what makes a car loan cheap? Compared to other uses, the biggest cost hurdle for auto finance is not always the interest rate – it’s hidden in the cash payer discount. This discount is possible if you choose a direct bank.

Car loan from a direct bank

A car loan directly from a direct bank can offer you many advantages:

  • Benefit from the cashman discount
    If you use an independent car loan, you can have the loan paid out in cash. With the dealer you can negotiate a discount for the cash payment. With the discount, the purchase price drops, so you need less credit. And with a smaller loan amount you have to pay less interest!
  • Free choice of the bank
    Car dealerships usually cooperate with just one bank or directly with the automaker’s bank. You have no choice. With a free loan, however, all credit institutions are open to you. So you can choose a car finance with the biggest interest advantages and the best conditions.
  • Keep special repayment open
    Loans via a car bank usually do not provide for special repayments or installment breaks. With the dealer credit you are so inflexible, if you pay the loan unexpectedly prematurely and so could save interest, or if you have payment difficulties!
  • No mileage limit
    The car loan independent of the dealer is earmarked and finances the car without further conditions. Merchant loans, on the other hand, often have a mileage limit anchored in credit terms. This is especially true for so-called 3-way or balloon financing. If you get over this limit, you have to dig deep into your pocket again!
  • Lower credit costs
    Through a credit comparison, you can opt for the cheapest offer from a bank. Thus, you reduce the credit costs significantly. At the same time, the independent loans are usually cheaper anyway, as they are earmarked as motor vehicle loans and the bank uses the vehicle as collateral.

Duration of a maximum of 5 years

The chosen repayment term not only influences the monthly installments, but also the interest rates: cheap car loans are available with terms of up to 5 years (60 months) because the risk of repairs and expensive maintenance is lower here. So if the vehicle is needed as security, the financier has greater chances of compensation without discounts, for example due to previous damage or the like.

Benefit from cash payer discounts

Anyone who has ever spoken with a dealer about the purchase price and financing offers, knows the fundamental problems of this type of financing: They are practically only for a limited period, for current models with special features or only if you give your used car at the same time in payment.

However, the favorable interest rates of the car dealers can have a catch: the dealer must give the financing Autobank again a security that the contract is fulfilled. If in doubt, he beats the risk on the purchase price, which you can no longer negotiate in this variant. Keyword here is the already mentioned cashman discount.

The situation is different with regard to financing – whether credit or regular installment credit – through independent institutions that identify you as a cash payer. Experience shows that you can negotiate larger price discounts, especially with predecessor models or standard equipment. Depending on the amount of the purchase price, this discount then exceeds the cost of the cheaper alternative via the car dealer.

Example calculation: dealer credit vs. car loan

A sample calculation illustrates the saving potential. For this, the assumption is that you want to finance a car for a purchase price of 15,000 euros. For this, exemplary interest amounts are selected.

  Manufacturer’s Autobank Independent direct bank
Purchase price of the car 15,000 euros 15,000 euros
Negotiated estate 0 percent 10 percent
Net loan amount 15,000 euros 13,500 euros
Effective annual interest rate 4.5 percent 5.25 percent
Duration of financing 48 months 48 months
Monthly Rate 341.44 euros 311.68 euros
Total cost of financing 16,389.28 euros 14,960.51 euros
saving   1,428.77 euros

As you can see, the monthly charge is approximately 30 euros below the comparable offer of the manufacturer’s Autobank. Thanks to the cash payer discount, savings of over 1,400 euros were achieved here. You can invest this money in new equipment details or use it as a back-up for repairs.

Calculate cash discount

Requirements for a car loan

To apply for and receive a car loan, you must meet these conditions:

  • Age : You must be at least 18 years old to use a car loan.
  • First residence in Germany : You must live predominantly in Germany and have your first residence here.
  • German Account : Your account must be held at a bank in Germany.
  • Regulated income : You must have a regular income. Depending on the bank, this can be income as an employee or self-employment.
  • Creditworthiness : Your credit rating must be sufficient for a bank to grant you a car loan. As a rule, a credit report is therefore carried out. Frequently, credit providers still want additional protection in the form of insurance (eg, residual debt insurance) or capital investment.

In 5 steps to auto finance

In 5 steps to auto finance

If you have decided to buy your new car not only from the savings, the process is usually the following:

Choose your desired car

First, you should ask yourself if you want to finance a new or used car. Used cars usually have the advantage that they are cheaper than new cars. On the other hand, you will have to reckon with repairs or replacement of wearing parts during the runtime. It is advantageous if the car dealer gives a warranty on the used vehicle, similar to what is common with new cars.

  • Price comparison : Check before financing the vehicle, if there is the same or a similar model at another dealer cheaper. For used cars, also use a price comparison on the Internet.
  • Additional costs : When choosing a vehicle, also consider other factors that influence the fixed costs for the vehicle, such as displacement, fuel consumption or loss of value.
  • Make and model: After the question of new or used cars, you decide on a car brand and a corresponding model. Take into account where your actual need is. Does it really have to be the SUV with a lot of horsepower, for example, or is an economical combination enough?

Make a household bill

If you have decided on a car, you should consider your economic circumstances. Take the statements of the last six months and break down each revenue and expenditure. Unscheduled payments should be taken into account, bonus payments are to be calculated out. The difference shows you how high your monthly installment may be.

Choose the cheapest way of financing

For the financing of the car you have various options to choose from. The following table compares all the important aspects of common credit options for you:

  car loan leasing 3-way financing
  • Paying cash discount
  • unscheduled
  • No mileage limit
  • Low monthly costs
  • Easy return
  • Lower rates compared to Installment purchase with same duration
  • Rates higher than with 3-way financing or leasing
  • Car remains the property of the leasing company
  • No assets are being built
  • Seduced to low eradication
  • Interest rate risk on follow-up financing

According to a study by GfK’s market researchers, in 2016 around 71 percent of financed cars were financed via a classic installment loan. 17 percent opted for 3-way financing, while 20 percent opted for leasing. Only two percent had opted for a different form of financing in 2016.

Have the necessary documents ready

  1. payslips
    When you work in a job, banks usually need your last pay slips. This will show you regular income.
  2. Bank statements with salary receipt
    In addition to salary statements, some banks require the bank statements of the last three months. This applies in particular to employees or trainees.
  3. Registration certificate Part 2 of the vehicle
    The registration certificate confirms that you own the vehicle. Sometimes only one copy is necessary. However, if the vehicle is transferred to the bank as part of a security transfer for the duration of the car loan, the bank will need the vehicle registration document.
  4. tax bills
    Self-employed or freelancers, who do not receive their income through employment, must use current tax assessments to prove what they earn. Often tax assessments of the past three years are required.
  5. BWA – Business evaluation
    When self-employed people apply for a car loan, banks usually require an additional BWA. This applies in particular if the most recent tax assessment date is older. The BWA is usually created by a tax consultant.
  6. Security agreement
    Some banks conclude a separate contract for the transfer of ownership of the vehicle. This contract is then part of the loan agreement.

Credit payment and car purchase

  • Disbursement: If you opt for a dealer-independent car loan, this will usually be paid out within a few working days. The prerequisite is that the bank accepts your application and you fulfill all the necessary conditions. You can then cash out the loan amount directly at the bank and buy the car.
  • Buying a car: Take advantage of a dealer-independent loan and trade with the car supplier. Often discounts of up to 30 percent compared to the list price are possible. Also, try to haggle for optional equipment or a warranty extension for new cars. As a cash payer you usually have clear advantages in all negotiations.
  • Admission and insurance: After the purchase you must allow your car. Many car dealers are taking over this service for their customers. Regardless of whether you allow the car yourself or hire your car dealer, you need valid insurance cover. Register your new car with an existing car insurance company. Or take the advantage of changing vehicles to find cheaper insurance. Carry out a car insurance comparison for this. The eVB number after the promise of the new insurer is then required for the registration.

Use alternatives to residual debt insurance

The residual debt insurance is designed to ensure that the loan can be properly fulfilled, should you fall ill or lose your job. However, such insurance costs accordingly, so they increase the actual cost of the loan. Apart from that, there are waiting periods, so the insurance does not start until after a certain time and has its own definitions of when you are considered “sick” or “incapacitated for work”.

An alternative, therefore, is to bring in eligible investments. Term life insurance or disability insurance can normally be ceded easily to the financing bank.

Useful additional information

Useful additional information

There are many more things to remember about car loan. Here you will find everything you need.

Beware of the three-way financing

Caution is advised when car loan with closing rate, also referred to as three-way financing. In this case, the financing is built up similar to a lease. They make a down payment, some even without offers, and pay a low rate over a period of three or four years.

At the end of the financing, the balloon must be paid, the final installment, which regularly accounts for more than half of the vehicle’s value. However, this depends on the recoverable residual value, which often leads to disputes between traders and buyers. Because even if you return the vehicle, it can still come to an open balance. In this case, you pay for a vehicle that is no longer in your possession.

Check the indicated residual value

Explain in detail the evaluation features of the three-way financing and check the declared residual value by independent experts. Automobile clubs and rating societies keep a list of each model type and make, based on actual sales values.

Check insurance requirements

An additional point that comes into play when financing via car banks, is the insurance condition in the contract. Typically, the dealer will require you to cover the vehicle with a fully comprehensive insurance against any possible damage. Because first the total loss occurs, is also the security for the car financing away. Of course, this will increase the actual cost of the vehicle, which you should consider when comparing.

In the case of independent direct banks, it has meanwhile become customary to dispense with sending the vehicle registration documents. You then only have to submit a copy of the registration certificate Part II and thus have little bureaucracy.

Saving with the insurance possible

Some contracts provide for borrowers, vehicle owners and policyholders to be the same. In more and more tariffs, however, the banks deviate from this regulation. Thus, the financing can run on the woman, as a vehicle owner but the man is registered. Gambling with percentages and other discounts on insurance is possible. The only requirement is that then the woman is in the vehicle registration.

So widespread is the car financing in Germany

According to figures from the German Automobile Trust, more than half of consumers in Germany use a loan for new car financing. Partial and full financing is taken into account. Around 20 percent of consumers opt for leasing new cars and only a quarter pay for the new car without credit.

In the used cars results in a slightly different picture. In Germany around 40 percent of this is partly or fully financed. Only two percent of used cars were leased in Germany in 2015. Around 58 percent of car owners have bought their used cars without financing.

Questions and answers about car loan

Questions and answers about car loan

What is a car loan?

A car loan is an earmarked installment loan for the financing of a new or used car. With a car loan individuals get a loan, which they pay back in equal amounts (installments).

Why are Autobank loans often expensive despite low interest rates?

Many of the dealer-brokered auto loans are tied to specific models or features. You can then only take advantage of the offer for a limited time. At the same time, however, you are not a cash payer, because the dealer and the car bank are linked. This means that the trader takes over part of the risk for you. Therefore, dealers can even offer zero-percent financing, because the higher purchase price, the dealer recovers the self-borne interest rates. But since you can negotiate just with old models or vehicles in need of repair, higher interest rates via direct banks are no problem (see example calculation above).

Are used cars just as easy to finance?

For used cars, most banks make no difference, because here too the vehicle is included as security. Only in the application, more information must be made, such as the mileage, the first registration and the like. In practice, the limit is often 10 years, even mileage over 250,000 are problematic.

Car loan and car leasing, where are the differences?

In the classic car loan, the granting of the loan amount is linked to the purchase of a car, that is, earmarked. The registration certificate Part II serves as collateral, while interest rates are lower than for classic installment loans. The vehicle is in your direct possession, for example, you can easily sell the car or change the owner.

In car leasing, on the other hand, the vehicle is left for a certain period of time, often between three and four years. It is, so to speak, a car rental. For lessees, the leasing rates are deductible, which is why this capital-conserving option is often chosen for models of the upper class. You pay for the loss during the term, so the installments are higher in the loan financing. If the car is returned at the end, it may be that after mileage, minor scratches and the like, a high additional payment threatens. In addition, the requirements for the motor insurance are high (fully comprehensive), you also bear the risk for repairs.

Which types of loans are customary in car financing?

The three-way financing (balloon loan), however, is a mix of installment loan and leasing. Very low monthly rates are followed by a high final installment, in some cases a down payment has to be made. Interesting for those who expect a larger payment within three or four years and then finance the balloon from own funds. Since much of the loan is paid at the end, the interest rate in the monthly installments is correspondingly high.

What are the advantages of applying for a car loan online?

A car loan is always earmarked, in which case you indicate the vehicle as collateral for the financing. Compared to the classic installment loan, this sometimes entails enormous interest advantages, because the credit rating plays a lesser role in the application process. The online comparison summarizes all matching offers, first independent of one’s own credit rating. This gives you an overview and allows you to compare whether, for example, special repayments or installment breaks are possible.

When is a car loan the best car financing?

A car loan is suitable in the following cases:

  • You can not afford your car finance in cash, but you want to become the owner of a vehicle. In this case, the car loan with consistent rates, direct commitment and foreseeable term is just right for you.
  • You want to save the interest on the dispo. If you use your Dispo, you pay very high interest rates (up to 17.50 percent). A car loan can reduce your interest costs by up to 80 percent.
  • A car loan can be made more flexible than a lease contract. Lessees are mostly business people because they can deduct the high cost of leasing tax deductible. As a private individual you can take advantage of a car loan: First, you acquire the car as a property and thus has the opportunity for a possible sale. Furthermore, you can get a car loan without Private credit.

Can I cancel the loan at any time?

Yes, you have the right to repay a installment loan early, eg by taking out a cheaper loan from another bank. However, the loan processing fee paid by you will not be refunded by the relieved bank. During the agreed interest fixing period / loan term you can terminate the loan at the earliest 3 months with a notice period of 3 months and repay the outstanding loan amount due to the legal regulations.

You can also repay partial amounts at most banks during the agreed term, so-called special repayments. In these cases, the monthly rate remains the same and it shortens the term.

The financial institution also has the right to terminate the loan. This happens after two written reminders for two consecutive, unpaid installments. The borrower has three months to pay the debt. As long as you pay off the loan, the vehicle papers usually remain with the bank.

Is only a condition request carried out?

Inquiries made via our credit calculator are treated as “request credit terms” at Private credit Your advantage: This is not visible to every other bank.

For other providers, your request may be stored as a “loan request” at Private credit, which means that it can be viewed by any other bank or corporation, which could lead to disadvantages for the prospective buyer the documents of the Private credit is, that means that no credit has been granted – that you as a customer but only for the loan conditions has interested, let alone whether you would have been accepted or rejected, does not emerge from this entry.

What is the level of the monthly rate?

How much you have to pay monthly for your car loan depends on several factors:

  • Cash payer discounts : The more discount you get on the vehicle when paying in cash, the cheaper the credit will be. Because you can use the money saved as a rule immediately as a special repayment.
  • Special repayment options: The more unscheduled repayments you can realize, the cheaper the monthly installment will be. This is the case when the loan is recalculated over the entire term.
  • Remaining debt insurance: A residual debt insurance can significantly increase the monthly installment. Therefore, check in advance whether this option makes any sense for you.
  • Credit : The higher your credit rating, the lower the credit costs, as you will have to pay less interest on your loan. In order to increase the credit rating, it is therefore often advisable to take two borrowers into the loan agreement.
  • Term: The longer the loan contract runs, the more interest you have to pay and the more expensive the loan will be. However, you can reduce the monthly installments by a longer term.
  • Annual percentage rate: the higher the interest rate for the same duration, the higher the monthly rate. This factor is especially important in the credit comparison.

What happens if I can no longer pay the loan?

If you are no longer able to pay the installment of your car loan, it is best to contact the bank at which you have taken out the loan or lease contract early on. It is recommended that you already inform the bank before a due installment could not be debited. In this way, it is possible to talk to the customer service of the bank in order to possibly receive a short-term installment delay.

If leasing or credit installments could not be deducted from your account, the lender or lessor will contact you directly. Usually, the rate is posted a second time after a first failed attempt.

From a certain number of defaults, the bank has the right to collect your vehicle, because usually the car serves as collateral. When this security can be claimed will be specified in the loan agreement. For this reason, you should read this contract in advance to avoid unpleasant surprises. Because even if the lender has collected the car, the credit continues to run and the open installments must continue to be paid.

I need the loan urgently. Is there a way to get the payout faster?

Usually, it only takes between four and six business days from the application to the payment of the car loan. You can speed up the process yourself by completing the loan application and settling all necessary documents immediately. In some cases, the loan payment can also be made faster if you visit the bank branch directly. For direct banks, however, this possibility is eliminated. Another way to speed up the process is the legitimacy by videoident method. In this case, you can legitimize yourself directly online and do not have to carry out the identification in a post office via PostIdent.

But more importantly, you do not rush to make lending decisions despite the time. Keep in mind that you are committed to paying a fixed rate with a car loan over several years. Before borrowing, make sure that you can service these rates. Also, compare different loan offers to find the cheapest car loan.

How much credit can I get from the car loan?

The deciding factor for the possible amount of credit, as with any loan, is your free disposable income. In addition, your credit rating has an impact on the lending and the amount of the possible loan. In a dedicated car loan, however, the financed car itself plays an important role, because it usually serves as collateral. Thus, it is foreseeable that a bank in a new car generally granted a higher credit than a used car.

Which interest is decisive in the comparison?

The nominal interest rate indicates the interest you have to pay each year for your loan. This interest rate is based on the net loan amount and has an impact on the amount of the monthly loan installment.

The effective interest rate includes the nominal interest rate and also takes into account all possible ancillary costs of the loan such as processing fees or payment costs

Therefore, always pay attention to the effective annual interest rate for the credit comparison because it takes into account all borrowing costs incurred. For example, an offer may appear attractive at first sight due to a favorable nominal interest rate. If, however, the effective interest rate is specified, the supposedly cheap loan offer can become significantly more expensive and no longer the best.

Mortgage loan: 1 French out of 2 has already changed banks

Category : Uncategorized

More than 1 in 2 French has already changed banks in favor of a mortgage loan, reports Bank in a study published last Wednesday. This is particularly true for Generation Y. On average, the French need 7 years to gather the necessary personal contribution.

2017 will have brought luck to the real estate sector. The French borrowed about 255 billion euros that year, says the Bank of France. This increased activity for the banks goes hand in hand with the fluidity of the clientele. 8 in 10 French have already thought of changing banks in favor of a loan, reports Bank in a study published last Wednesday.

62% of generation Y

62% of generation Y

Bank has studied the behavior of 10,000 borrowers in 10 different countries. The French think more often than others (61%) to change banks. They also concretize this idea more often (52%) than the average (44%). In the overall standings, they come second just behind the British (53%). The Macron law made this operation easier. Individuals can ask the bank to take the steps.

Behaviors change according to the age of the borrowers. 52% of French baby boomers (born between 1945 and 1960) have already taken the plunge. This rate falls to 49% for Generation X representatives (born between 1961 and 1981). On the other hand, 62% of generation Y (born between 1980 and 2000) has already knocked on the door of another bank. When they try the adventure, the overwhelming majority of customers (82%) say they are looking for a better deal.

7 years to make up their contribution

7 years to make up their contribution

The French follow their interests much more than the other nationalities surveyed (55%). This trend reflects the weight of real estate debt, more important in France than in other countries analysis site Money Bursary. The French spend 36% of their monthly income on average, and up to 40% for the youngest. Proof of the importance of this item of expenditure, 38% of French people are afraid of not being able to meet their deadlines.

Three out of four French people (76%) think that they will have a hard time getting the necessary personal contribution. To achieve this, 28% of first-time buyers rely on family financial support. This difficulty in raising funds explains why the French take an average of 7 years to make up their contribution. This falls to 3 years in the UK, compared to 5 years for the global average in the Bank study.

Housewife Loan: Compare Without Private credit

Category : Uncategorized

Important to the housewife credit

  • Spouse as guarantor
    In the case of the income-free borrower, housewife credit usually involves the spouse, who should have his own income, as guarantor.
  • Specify alternative collateral
    If the spouse is incapacitated, other guarantors or security assignments are required. This hedging is intended to minimize the risk of default.
  • Make financial statement before closing
    Before you take out a loan, you should check in a household bill, which monthly rates are financially viable for you. This makes it easier to avoid unpleasant surprises.

Although the term “housewife credit ” is already outdated and is nowadays referred to more as a loan without Private credit or small loan ; but even today there is this loan, which supports people with no or low income. However, interested parties should first inform themselves in detail about the duties, risks and opportunities.

How to find the right housewife loan

How to find the right housewife loan

The term originally belongs to a time when wives usually worked as housewives while the men went to work. Since the women were secured by the income of their partners, the banks have forgiven the housewife loan – so could the housewives now and then afford something.

At the present time, however, this loan is no longer aimed at just one target group: the so-called microcredit can now be claimed by all persons who have no fixed income and are therefore often not given credit. This also applies to people with a low monthly income of a maximum of 400 euros – if they are otherwise secured.

The target group of the loan includes:

  • Housewives and housekeepers
  • Possibly. single parents
  • pensioner
  • Students and apprentices
  • job seekers
  • Persons with negative Private credit entries

The credit for housewives is characterized by the fact that he is usually awarded small amounts of 5,000 to 50,000 euros. However, the following aspects are required for you to receive this loan:

  • A minimum age of 18 years
  • German citizenship
  • Hedging through own income or that of the partner

Earningsless spouses: What options are there?

In some cases, spouses want to take out a loan without their own income. Even with small loans, however, it is often difficult to obtain a loan in this situation. Most banks do not lend when there is no income. So the only option left to the non-earning spouse is to provide collateral to the bank:

  1. Find a guarantor
    A guarantor pays the loan installments if the non-earner can not raise them. In this case, for example, the spouse can act as guarantor.
  2. A security transfer
    If you use the loan to purchase property, you hereby grant the bank the right to own that property until the loan has been fully repaid.

It is usually not possible to obtain the housewife’s loan without a guarantor. You also have greater chances if you take out a loan with a guarantor together with the earning spouse.

The Housewife Credit: What should you pay attention to?

Before the housewife loan is completed, the individual conditions should be considered closely and compared with several providers.

Select runtime correctly

For example, it makes sense to choose the shortest possible term without being in default. The faster you repay the loan, the cheaper the loan will be – because the overall cost will be kept to a minimum. The term should, however, be chosen so that the monthly installments are to be managed. Many financial institutions therefore set a term of twelve months.

Pay interest

As a rule, low earners and unmarried spouses as well as persons with negative Private credit entries can not guarantee sufficient creditworthiness. In addition, the risk for the financial institutions is comparatively high, as borrowers often are not sufficiently secured.

It follows that the interest on this loan is usually set high. These can only be reduced by a second borrower or a guarantor – materialistic security can also be provided if it is financed by the loan.

Do not forget additional costs

The APR that is required to compare different providers does not just include the loan amount. Also, the processing fee and the cost of processing the loan incurred here – these should also be considered.

How much homemaker credit can I afford?

Prepare a detailed overview of your income and expenses in advance to find out how much credit you can afford. A household bill makes the most sense for this:

  1. Analyze the statements of the last half year.
    What revenue do you have? And what regular expenses are deducted from your account? Also list all state supports.
  2. List costs that only accrue annually.
    Also annual costs should be written down, as these can fall into the period of loan repayment.
  3. Plan extraordinary expenses.
    Is a holiday coming up or does the car have to be repaired soon? Plan these expenditures – ideally as generously as possible, in order to always be able to cover all expenditures.

Once you’ve done all this, there’s a balance left over – this is the monthly installment you can use for the loan.

Recognize cheap offers – that’s how it works

It makes sense, if you weigh before the signing of the contract several providers of housewife credit against each other. The effective annual interest rate helps here: the effective interest rate includes the borrowing fee as well as all additional costs – this means that this interest rate indicates what you really have to pay each year. The lowest possible effective interest rate thus indicates that the supply is relatively cheap overall.

Incidentally, some financial institutions also have the option of making special repayments in order to repay the total amount more quickly. Make sure that these special repayments are free. This keeps the total cost low and ensures that you can pay off the loan amount earlier.

Watch out for black sheep

Beware of black sheep: too low interest rates can point to dubious providers. So always compare several providers to get an approximate overview.

Step by step to your housewife loan

If you have planned to apply for a housewife’s loan without Private credit, you should first discuss the advantages and disadvantages of this loan in detail.

advantages disadvantage
You get a loan for a small sum without any fixed income Completely without a guarantor or second borrower, it is extremely difficult to obtain the microcredit
The Private credit query is not performed As there is little collateral for the institutions, interest rates are high
Low monthly rates for low and non-earners Even for small loans with a maximum of 5,000 euros, there is a longer term
The loan is free to use There are higher processing fees

So if you want to take out a loan, you should weigh the above-mentioned advantages and disadvantages well – it makes sense to consult with the second borrower or the guarantor in order to then be able to make the right decision.

How to get to the small loan without Private credit

With the help of the Financedel calculator, you can calculate how your credit will fail without Private credit. They proceed as follows:

  1. Enter the desired amount of the loan and enter your personal data (name, address, date of birth).
  2. Read the privacy policy and confirm that you agree.
  3. Click on the button “Continue to step 2”.
  4. Now enter your contact details so we can contact you if there are any questions.
  5. Click on the button “Continue to step 3”.
  6. Enter your employment and your monthly net income here. In addition to wages, gross income includes pensions, alimony benefits, unemployment benefits and rental or lease income – all of which you now have to deduct to earn the net income.
  7. Submit your request afterwards.

The credit team will now take care of your request as soon as possible and send you an individual loan offer – the offer is free and absolutely non-binding.

Alternative: The normal installment loan

An alternative to the housewife loan is the normal installment loan. The advantages of this loan are obvious:

  • The loan is also not earmarked
  • Almost all financial institutions give the installment loan
  • He needs less work
  • It offers lower interest rates for the same term

The disadvantage of the regular installment loan is that you need a corresponding credit rating in order to receive comparatively low interest rates. So people with negative Private credit entries will have less chance of receiving this loan at reasonable interest rates – often the application will be rejected in this case. In addition, the monthly installments here are significantly higher than the housewife credit, the term is also longer in many cases. To find the right loan, ask yourself the following questions:

  • Do you need a larger loan amount?
  • Can you pay relatively high monthly installments with your spouse or another second borrower?
  • Can you pay off the loan over a longer period?
  • Is there a high credit rating for you or the second borrower?

If you have been able to answer these questions positively, it is advisable to make use of the regular installment loan. However, if a high credit rating is not guaranteed, only a small amount is needed or only small monthly installments are possible, the Housewife Credit is the right choice.

To find out which loan is right for you and you have to expect that costs and interest, please contact our loan calculator on.

questions and answers

questions and answers

How Expensive Is Housewife Credit?

The amount of interest for this loan depends on the respective provider – since, in addition, the Private credit entries are not queried, no creditworthiness is guaranteed. It is not unlikely that the loan without Private credit therefore often more expensive than the conventional consumer credit. In particular, the term, the amount of the loan and the annual percentage rate of interest affect the cost of the loan.

Is a housewife credit reputable?

Of course, you should be wary of a loan that does not require insight into Private credit. With the housewife credit, the seriousness depends on the provider: There are certainly reputable financial institutions that guarantee this loan. However, the lending of such providers is often associated with high processing fees, high interest rates or similar costs.

Is there really no Private credit query?

Banks in Germany are generally required by law to always carry out a Private credit query before a housewife loan is granted – reputable banks will not grant this loan without Private credit information. Swiss banks, on the other hand, are not bound by such laws and can grant the loan even without checking the creditworthiness – but usually only with a certain minimum income. So there is no chance for a lossless person to get a loan here; Unless they are adding a second borrower or guarantor.

Incidentally, some reputable brokers offer to do the credit check for free: this allows you to find out before the search for a financial institution, what would be the maximum amount of your loan and if your application would even be approved.

Who can get the housewife credit?

The Housewife Credit can be obtained by all low paid and incomeless people. However, it is important that the borrowers are covered – whether by the spouse’s income, a guarantor or other collateral.

Up to what limit can the housewife’s loan be paid out?

There is a uniform and universal rule for the payout limit of this small loan. Usually these are sums of around 5,000 euros – but loans up to 50,000 euros are guaranteed.

Is the housewife credit earmarked?

As a rule, the loan without Private credit is not earmarked, as this is a regular installment loan with a limited amount. The loan is therefore freely usable.

What is the legal status of household income for the non-earning spouse today?

According to §§ 1360 to 1360b of the Civil Code, also ineligible spouses are allowed to co-determine, for which the existing income is used. In addition, they usually have a pocket money claim: about 5 to 7 percent of the net salary of the partner may use the non-earning wives or husbands for their own purposes.

Bank loan comparison with top interest rates

Category : Uncategorized

Important for the bank loan

  • Compare bank offers
    Before applying for a bank loan, you should always compare several providers. Financedel’s free credit comparison provides low-priced offers in just a few clicks.
  • Optimize creditworthiness
    Offer your own collateral to lower lending rates. With a second borrower you can get more favorable terms.
  • Choose a term wisely
    Shorter terms reduce overall credit costs.

For many Germans, bank credit is still the easiest way to make an urgent purchase or fulfill greater wishes.

If you pay attention to some aspects of credit selection, you are sure to find the best loan for your purpose. On this page you will find practical tips and information about bank credit.

What is a bank loan?

What is a bank loan?

Basically, every loan you take out of a bank is a bank loan. There are only a few alternatives.

So you could borrow money from friends or relatives or even ask the employer for a loan. However, you have the problem that you owe something to people you know. Not infrequently, loans to friends can lead to strife. Or what about the repayment when the friendship comes to an end? It is not for nothing that the saying goes, “When money stops friendship”.

A bank loan offers great advantages in this regard. They owe money to the bank and therefore owes the service provider only the monthly installments and nothing more.

Different types

Banks grant different types of loans. One of the most common loans is the 3000 euro loan. This is not really a special credit group, but rather a popular loan amount for consumer credit.

Whether for a trip or the purchase of furniture, in Germany every year many different wishes are fulfilled with such a bank loan. In contrast, larger loans such as a € 10,000 loan are usually associated with major purchases. Often, these bank loans are used as student loans.

All these loans are classic installment loans. Thus, the typical bank loan is an installment loan. In addition, this type of loan mainly describes small loans with amounts below € 5,000. Applying for these loans usually suffices for one’s own income and a good credit rating.

Other bank loans that go beyond small loans

  • Real estate loans or mortgage lending
    A bank loan for the home purchase requires a longer planning. Typically, these loans are associated with a very long term and an extensive financing plan. The mortgages or chattel mortgages of life insurance policies serve as collateral here.
  • follow-up financing
    In a follow-up financing is a bank loan, which is used at the end of the mortgage term, following to pay off the remaining debt. Follow-up financing usually has higher five-digit totals.
  • car loan
    The car loan does not necessarily have to be a bank loan. But borrowers usually have an advantage in negotiating rebates by paying out a bank loan for car finance. The car loan is a purpose-bound loan for it.
  • mortgage loan
    With this bank loan you encumber a property or a property and can borrow money for renovations or complex repairs on the house at favorable conditions from the bank.

How to find a cheap bank loan

How to find a cheap bank loan

There are many different credit institutions in Germany, which compete for the favor of customers. As a result, you, as a borrower, can benefit from favorable offers.

With the following three tips you will find a cheap bank loan:

  1. compare offers
    Use the free loan calculator from Financedel. For the calculator you only need your desired loan amount and the duration as well as the purpose. Using solid data such as total loan amount and monthly exposure, you can compare many different banks. So you do not have to ask each bank individually.
  2. Involve second borrower
    If you apply for a loan for two, you can benefit from much more favorable conditions. For the bank, a second borrower provides greater security. This usually “rewards” them with a more favorable interest rate.
  3. Offer collateral
    For example, if you have the option of offering a registered mortgage as collateral for a bank loan, you can significantly reduce the cost of borrowing.

You should pay attention to that

There are several metrics that should be considered before the loan is closed.

Effective interest rate The annual percentage rate of charge describes the gross return on your loan that you must pay each year for the loan amount. In contrast to net loan details, the annual percentage rate already includes any processing fees or other additional costs. Pay attention to the lowest possible annual percentage rate for your desired loan!
unscheduled The earlier the loan is paid off, the lower the monthly burden. If you have free capital during the term, you should be able to use it for free special repayments. When making credit terms, make sure that you do not incur any fees when you make special repayments.
running time Choose your desired monthly rate wisely. It should not be too high, so you have enough financial space every month. But you should not set the rate too low, so you do not unnecessarily increase the cost of borrowing. It is best to use a household calculator to determine the possible monthly rate.
fees Some banks charge fees if you want to terminate the loan before the end of the term. Check the loan offer to see exactly if such fees apply.

Remaining debt insurance is not always a must

For smaller loans, do not take out a residual debt insurance. It can only increase the small loan unnecessarily. For example, such an insurance can cost more than € 300 for the entire life of a € 2,000 loan.

Possible uses

Typically, a typical bank loan is disassociated. This means that you may freely use the money for your wishes. However, some loans such as classic car loan or home loan are earmarked. The money may be used in this case only for the specified purpose.

Schedule processing time

From the application for a bank loan to the payment of the loan amount may take several working days. This applies in particular if you apply for a bank loan online and the bank still requests documents or you can only send these documents by post.

In addition, the processing time varies from bank to bank, so that no blanket statement can be made. However, you can always accelerate the process by providing all the necessary paperwork with your loan application, for example proof of income.

You should pay attention to this when making the loan request

When you make a loan request, you should make sure that it is entered as a loan condition request at the Private credit. These inquiries are provided with the abbreviation “KK” and are Private credit-neutral. A credit request with the abbreviation AK is also noted in the Private credit directory and is visible to other banks for ten days. If there are many AK loan requests, this can have a negative effect on your Private credit score.

However, with the Financedel loan calculator you are on the safe side. All inquiries via the portal are Private credit-neutral.

House bank is not always cheapest bank

The credit comparison has the advantage that you can really get the best conditions. The house bank does not always have the best bank loan for you. The only advantage: The bank already knows your financial situation very well and needs no further collateral. This is the case, for example, if you have already successfully repaid a loan with this bank or have your salary account with the bank.

Step by step to the bank loan

Step by step to the bank loan

To apply for a bank loan, you can take the following six steps.

  1. Calculate loan amount
    First, calculate the required loan amount. In the case of bank loans for real estate financing, you should also include the existing equity capital. This is also possible with a car finance, where you can reduce the loan amount by a down payment.
  2. revenue and expenditure account
    Be sure to keep a household bill in which you bill regular monthly income with regular expenses. Be very precise and honest with yourself. For example, expenses for the cinema or for the gym are part of the regular expenses. With the help of the household bill you determine the optimal credit rate.
  3. Compare loans
    Compare several loans together. A good comparison criterion is the annual percentage rate. In addition to the duration, it determines how much the total loan amount and the monthly installments will be.
  4. Send application
    You can fill in and submit your loan application online at almost every bank online today. If documents are required, you must send them by post to the bank.

This happens before the loan is granted

Before a bank awards a loan, it checks your creditworthiness. These include the almost mandatory Private credit query. Likewise, you must be able to prove a regular income. For certain loan amounts, a minimum income is required. Basically, with all loans: The higher the income, the better.

More evidence as a self-employed

For the loan application, you usually need your salary statements and sometimes even bank statements of the last three months. Self-employed often have to provide more evidence, such as the tax returns of the previous two years or a business evaluation (BWA).

  1. Postident perform
    In order to clearly identify yourself as a borrower, you usually have to carry out the so-called post -ident procedure. To do this, print out the Postident coupon at home and look for a post office. There you are clearly legitimized by your identity card or passport. The completed coupon will be sent to the bank along with your full credit application and all necessary documents.
  2. loan disbursement
    After a thorough review of your records, your credit will be approved. It only takes a few working days for the loan amount to be transferred to your account.

questions and answers


How do I get a bank loan for starting my business?

If you need a start-up loan, you can contact the Kreditanstalt für Wiederaufbau (KfW). The state-owned bank promotes entrepreneurs with special bank loans.

What can I do if, after receiving my loan, I have found a cheaper loan with another bank?

Most bank loans can be withdrawn up to 14 days after conclusion of the contract without giving any reason. Read exactly in the terms and conditions before, if this also applies to your credit. If you can still revoke, you have the opportunity to take advantage of the cheaper credit of the other bank. If the withdrawal period has expired, you can still cancel. However, you have to reckon with bank fees. If the interest on the new loan is significantly cheaper, so that the savings exceed the fees payable, a change may be worthwhile.

Is there a processing fee for bank loans?

Since a ruling by the Federal Court, banks are generally no longer allowed to demand loan processing fees. For more information, see this article on loan processing fees

What are alternatives to bank credit?

If you do not want to borrow money from a bank, you can borrow money from friends or relatives. Also possible are various Internet portals, where private customers can borrow money from other lenders who act as investors. The correct handling of these transactions is then handled by a bank as trustee.

I am no longer able to repay the loan – what now?

If you can not repay your loan, it is essential to seek the interview with the bank. In some cases, banks may offer a repayment pause. If the financial situation is very tense, you can, for example, go to a debt counseling service.

What are the advantages and disadvantages of bank loans?

The advantage of having a bank loan is that you are lending money without further commitment and commitment. Thus, the bank loan differs from a loan that you get from parents or friends. However, the disadvantage of a bank loan is that you have to pay interest on the borrowed money that friends or relatives do not usually charge.

Loan for apprentices: favorable loans for apprentices

Category : Uncategorized

Important to the loan for trainees

  • Takeover prospects increase credit opportunities
    Anyone who has the prospect of a takeover after training can often increase the chances of obtaining a loan application.
  • Requirements unavoidable?
    Everyone must fulfill the requirements for a loan as an apprentice. Exceptions are hardly possible.
  • Seek additional guarantors
    Signatories improve your chances of successful lending – from the bank’s perspective, guarantors often reduce the risk of default.

A trainee salary is usually too low for larger purchases. It is just in this phase of life often major issues. For example, those who move to another city for training have to make a move, which is costly. Anyone who does not receive a cash injection from their parents or relatives will often have to rely on getting a loan. That’s not easy, but possible if you know how to improve your chances.

How to find the right loan for apprentices

How to find the right loan for apprentices

If you urgently need the deposit for the first home or a car for the way to work, can hardly afford a narrow apprentice salary. Getting enough money aside is tedious, sometimes too tedious, for example if a mobile pedestal is needed for the commute at short notice. But such things are often obligatory at the beginning of the training and the first steps on the career path. If the parents or close relatives do not want or can not support it, a loan for apprentices can fulfill such sensible wishes.

A trainee loan is a special form of consumer credit and is usually used as a installment loan. It is characterized by maturities of a few years, low interest rates and low loan amounts. Collateral as with other large installment loans or loans are often not available for trainees With the loan comparison, the appropriate loan can be found.


  • Age and residence
    A person who is resident in Germany and has reached the age of majority and full capacity at the age of 18 only gets a loan. As a rule, banks reject minors as credit customers.
  • Sufficient credit rating
    If you have positive Private credit entries, so always punctual and conscientious all loans and, for example, paid mobile phone contracts, another requirement for credit is given. Incidentally, once a year you can also request a free data overview from Private credit to check what information the credit reference agency has collected about you.
  • Regular income
    These include regular income such as salary, interest on assets, income from letting and leasing, as well as monetary benefits in kind such as rent-free housing. Not including care and housing allowance, child allowances or capital assets under 7,600.00 euros.
  • Parents as guarantors
    You do not necessarily have to include your parents in the credit agreement if you are already of legal age. But a loan for trainees is often difficult to obtain without guarantors. So, if your parents vouch for you with a good credit rating, it increases your chances of getting a loan.
  • Probation period over
    If you have survived your probationary period and may even have a firm commitment that they will be taken after the training, the chance of getting a loan increases.

Difficulties for trainees in borrowing

The taking up of a loan should always be carefully thought out. Because if you can no longer repay the loan, for example because you drop out of training or the employer goes bankrupt and as a result you become unemployed, over-indebtedness threatens.

In such cases it is good to have a residual debt insurance. This can be concluded with many banks and savings banks together with the loan agreement. Of course, insurance premiums are incurred. A residual debt insurance can make a loan much more expensive. Consumer advocates advise against taking out such insurance at all costs and only taking out a loan if it is easy to repay it.

If you are still in the probationary period, it is generally unlikely to get a loan. Even with a duration beyond its training, the bank could legitimately have doubts as to whether repayment remains secure after training. After all, not every trainee is subsequently taken on or finds a new employer seamlessly.

Increase opportunities through takeover prospects

If you are doing well in your apprenticeship, you can sometimes get a commitment from the boss at an early stage as to whether he can count on a permanent position following your apprenticeship. Theoretically, it is enough if the boss has made you a verbal commitment to a job. This already legally corresponds to an orally agreed employment contract. But you need witnesses and a lender who recognizes that.

On the other hand, those who have written confirmation from the instructor can also offer this to the bank as collateral. This evaluates it as a plus point, if it is foreseeable that the apprentice will receive a fixed salary even after completing the apprenticeship and can continue to repay his loan installments.

Those who do not have such a commitment will usually only get loans with a term until the end of their education. He must have repaid the loan by the latest salary at the latest. Loans that run only for a few years and may not cost so much per month because of a small salary are usually small loans with amounts of up to 5,000 euros.

Employer as a lender

Some employers also offer loans for their employees, maybe even yours. Questions do not cost anything.

Advantages of co-applicants

If you are not creditworthy on your own, for example because you do not earn enough, or if you can not convince the assumption of your boss, you should not give up immediately. Look for creditworthy support – someone with the best possible credit rating, who signs the loan agreement with you or vouches for you.

If you include a second borrower in the loan application, you may even be able to get a higher loan. Ask someone who has their full confidence. He must also be fully capable of acting, so be at least 18 years old. As a rule, parents or other elderly relatives are well-suited to such requests if they are sound households, creditworthy, and have a regular income. A guarantee is even mandatory for most trainee loans. The guarantor concludes another contract with the lender and agrees to be held liable with his assets if the borrower can not repay his loan.

In both cases, the bank receives additional legal security, as guarantor and co-signer commit to repay the money in an emergency. With the signature, he takes over the responsibility, if you can not fulfill the repayment, as it is provided in the contract.

Step by step to the loan for trainees

Step by step to the loan for trainees

  1. Get information and checkout
    Get an accurate overview of your financial situation! It is best to keep a list of all income, financial obligations, and all expenses, such as taxes, rent, insurance, etc., for several months. This is the only way you can get a full picture of how much money you have available each month and what rent and other regular costs. accrues. If you have little left, a loan, which usually has to be repaid on a monthly basis, can lead to debt. If there’s still some bottom line after deducting the cost of living, you’ll know roughly what the monthly loan installment might be. If in doubt, Consumer Advice Centers or Debt Counseling also provide clues as to how you are financially resourced and help you decide if borrowing is really necessary.
  2. consultation
    If you are not sure yet how much money you have left in the month, how high a loan could be and how much you want to repay, let us advise you. Banks and other advisers can figure out how much credit they could get and what the monthly installment should be. With the help of a credit comparison, you will then find various offers and can compare them.
  3. Emergency solution Credit without Private credit from reputable provider
    For example, if you are unsuccessful with multiple branch banks, you can try to get a loan without a Private credit from a reputable provider. However, do not embark on any offers in which you need to make financial advances.
  4. Nothing rush when signing the contract
    If you have made a decision for a particular loan offer, have a look at the fine print, the terms and conditions and sleep another night. Only then should you submit a loan application. For further information, the providers inform on the phone, in person or on the websites.
  5. The credit is here
    If your application is accepted, you will receive a confirmation and a transfer to the account that you have agreed with the provider. Make sure that you pay back the installments on time so that no late fees or negative Private credit entries are incurred. A standing order can help with this, with which the rate is deducted from your salary account every month.

Which form of loan is advisable for an apprentice?

In addition to installment loans, there are also framework loans. For framework loans, a fixed amount is usually stored in a separate account. You only pay interest on the amount you actually withdraw from that account. However, due to the temporary income situation of trainees, the bank will most likely not grant them this.

Trainees usually only get a small loan. The means of choice should then be consumer or installment credit, which exists with different providers. Advantage: The installment loan is clear and the monthly charge, ie the installments that are due, remain the same over the entire term. This also corresponds to the income situation of most trainees. Since the loan amount is not as high as, for example, mortgage or other long- or medium-term loans, the term is kept within narrow limits and the monthly rate must be low, providers have less leeway for different forms of credit.

Pay attention to the effective interest rate. He is the measure of things in terms of price. Contrary to the nominal interest rate, the providers have to include almost all possible costs in the effective interest rate. That makes offers comparable. Also, the account maintenance fees, which requires some providers in addition, should pay attention. After all, these can significantly increase the price of a tempting offer, especially with the small loan sums of apprenticeship credit. When choosing a loan offer, it also matters whether you want to make special payments or take out a residual debt insurance.

Stay away from the dispo

Disposition credit, which is standard on many current accounts, is not an option for longer-term funding. The interest rates are relatively high and can be as high as 13 percent.

Even so-called private-to-private credit intermediaries, so-called P2P credit portals, have established themselves on the market. These platforms only provide lenders and borrowers. The lenders are usually private individuals who earn money with the interest. Similar to the deposit at the bank, they earn the interest and, if all goes well, the borrowed amount back. Again, the credit rating is checked, usually a Private credit information.

You should figure out whether they are more favorable, because the portals sometimes charge two percent of the total loan amount. In addition usually monthly costs come up and in some cases even an annual fee on top. Here you should exactly calculate

With the P2P credit portals you make an anonymous request online, in which you describe your desired conditions and justify what they need the money for. Here you can sometimes get to the train faster. You can start with lower interest rates and then increase until someone responds to the offer.

questions and answers


Does it make sense to take out a loan from the bank where I have a checking account?

Banks need customers. Young customers may be the most solvent customers of tomorrow. As a result, the bank where you hold your checking account may be more open to your loan request because you want to keep it as a customer. It can be a great advantage to be able to get personal contact and advice in a branch. But also online or direct banks score sometimes with favorable offers. However, nobody is required by law to be loyal. Go to the terms of the offers. It does not always have to be the bank where you also have your checking account. Attention: Sometimes lenders charge extra for account management when they provide a loan for trainees.

What speaks against a loan for apprentices?

Loans are a short-term relief and a longer-term liability. At the beginning of many over-indebtedness are loans. So be sparing, realistic and modest when determining the amount of a loan.

Who determines the term and interest of the trainee loan?

Banks will make you specific offers on request, depending on your financial situation and your credit rating. The better your credit rating, the less you pay interest. But you alone decide if you accept an offer. The other way around is the P2P portals, where you can anonymously publish a loan application, a so-called credit project. You have to introduce yourself and your concerns and determine your own term and interest. If someone wants to invest in your loan project and lends them money, you may be able to benefit from lower interest rates than a regular bank.

Loans for Christmas, financing ok for expenses and gifts

Category : Uncategorized

In December 2017, one in four Italians will ask for a loan for Christmas expenses or for going on holiday. Loans for the holiday week and loans for gifts exceed three times those for organizing the New Year’s Eve Gala Dinner. Here are the best loans available between late 2017 and early 2018!

It’s time to party, but at the end of the year between taxes, bills and various expenses the risk is not to have money for Christmas presents or a small holiday. The solution for 24% of Italians is to ask for a personal loan with convenient repayable installments over time. This was revealed by a recent survey on Christmas 2017 expenses (data from and

But how to choose the most advantageous loans in December 2017 and January 2018? Should you make a loan for a trip or a gift?

Loans for going on vacation…


Anyone wishing to take a week off or take a trip for a few days can find some useful information on the holiday loan in an article published recently on our blog ( read here ). Warning: it is not essential to be a worker to obtain it, since there are also loans for retired people who want to go on holiday.

… and financing for Christmas expenses

... and financing for Christmas expenses

Even for those who need money for Christmas gifts or New Year’s dinner – according to the survey 47% of those in this situation are between 36 and 45 years – opportunities are not lacking. The advice to choose the right loan also in this case is to evaluate well TAN and APR of the financing ( find out how to do ) so as not to take risks.

How much money are asked for a loan, what installments to choose

How much money are asked for a loan, what installments to choose

The survey on loans for Christmas 2017 reveals that 53.1% of Italians who will apply for funding will need more than 2,000 euros : for others a figure of less than 1,000 euros (31.13) or between 1,000 and 2,000 is sufficient euro (15.6%). The repayment of the loan will be within 12 months for 53% of the people, while 19% will ask for repayable loans in 24 months. Less than a third has the need for installments in 36 or 48 months or more.

Would you like more information?

Even for higher figures and the possibility of repayment more extended over time (up to 10 years) ISICREDIT offers customized loans ( make an anonymous and free estimate here ) remaining available for a home meeting totally free. An opportunity available to everyone: there is indeed the possibility of loans for fixed-term workers, loans for part-time workers and even loans for bad payers and protestors.