How to apply for a really cheap credit:

Loan comparison with calculator tool

The advantage of a loan calculator is obvious: You will get a better loan than if you just go to a bank and apply for one.

Unfortunately, this comparison tool is only available in German language. For our English-speaking readers, we have translated the application process on this page > the best way to get a loan in Germany.

What you should know before applying for the loan …

This loan calculator works with the current conditions from the banks that we “monitor”. These are checked daily. A program has been developed just for this purpose.

The stated banks’ interest rates are just advertised rates. The actual rate may be higher. This is due to two reasons:

  1. Assessment of your creditworthiness by the bank

    Some banks work with credit-rating interest. This means that customers with excellent credit ratings pay lower interest rates. A person who does not have a very good credit-rating has to pay higher interest rates for the loan.

    The better the creditworthiness of the borrower, the lower the risk to the bank that there will be problems with the credit. So a good credit rating is rewarded with low interest rates.

    On the other hand, there are banks that have a standard interest rate for all customers, so their interest rate is independent from a customer’s creditworthiness. With which model a bank operates, can be determined by what is offered. Either a fixed interest rate (e.g. 3.9%) is offered or it is a “from-to” option (e.g. from 2.9 to 5.9%).

  2. Insurance policy for a loan

    Banks tend to offer a payment protection insurance, called “Restschuldversicherung” in German. Since payment protection insurances are hardly ever recommended by consumer magazines – they additionally increase the cost of the loan, as banks already bear the risk of loan default with the interest rate – the term “Restschuldversicherung” is seen as negative. Because of that banks came up with new names like “Ratenversicherung” (rates insurance) or “Darlehensschutz” (loan protection) for this additional insurance.

    Insurance can be arranged for risks such as death, disability or unemployment. Since this type of insurance is expensive, the interest rate increases.

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56 Responses to “Loan comparison with calculator tool”

  1. Ayala says:

    Thank you for this info in English.

    I returned a few months ago to live and work in Berlin. I would like to pay off and consolidate some overseas debts.

    Does my positive schufa help with loan process?

    ( I am a single mom with a 13 year old)

    I have maintained my bank account here for 15 years, but
    was mostly out of Berlin the past six years so I didn’t receive an income here in that time from work,

    I am not working full time (still looking) and I am still in “freelance” mode, with work contracts.

    Will I have a chance in hell to get a 15,000 loan if I go to my bank or somewhere else.

    All advice appreciated.


    • Susanne says:

      Hi Jos,

      From our perspective, we cannot really tell you, if and how much of a chance you have (especially since that is a questions that depends on several factors), but a good SCHUFA/credit report would certainly help here.

      It is also good if you already have had a long business relationship with a German bank, especially if that relationship (i.e. your account transactions and you keeping within your agreed credit line there) has been going “smoothly”. You should make sure to provide documentation of that when applying for a loan.

      It also depends on the amount of your income and whether you can have reasonable expectations that you can maintain that income. Do you have recurring clients? You should make sure to provide documentation here, too. Also you should bring along copies of your recent tax returns. Also, bring along documentation about any kind of assets you might have (car, jewelry, life insurance…?).

      So, how are your chances? Honestly, I don’t know, but that does not mean you should not try! Also, some banks might have different loan policies, so if one bank says “No”, you can still try another one.

  2. Shahrukh Khan says:


    I am an International Student studying in Berlin in a private university. Can you tell me that if i am eligible to apply for any kind of loan?

    • Redaktion says:

      Do you have a job in Germany since more than 6 months, which is subject to social insurance? If not, please visit a local bank branch office for further inquiries. The online loan comparisons do not fit such “special cases”.

      • Raja kashi says:

        There is any bank in Germany that can give loan without interest?

        • Gregor says:

          Yes, but only with the best creditworthiness of the customer and only for a manageable amount – for example, 1,000 euros. These are marketing campaigns. For “real” financing an interest is always incurred and that is “healthy” anyway!

          • Riyaz says:

            Hello Mr. Gregor,

            Am trying for personal loan with lower interest rate.
            About me, am Blue Card holder (Oct’2016 to Oct’2020) with salary of 4800 Euro (2800 Euro netto) and company with unlimited contract. Recently I moved my family (wife with 2 kids) to Germany.

            With this my tax slot will change. Hope Netto will increase.

            I tried for loan of 40k for 60 months duration in my current account holding bank. They offered me with high rate 9.8% maximum 18k for 10 months.
            My Schufa is positive this is first loan.

            Purpose of loan – for investment.

            Issue is my Blue Card will expire in 10 months. Later I will get PR.

            Suggest any alternate for 60 months duration lower rate for 40k loan.

            • Editorial Team says:

              Generally, this is what applies: Above, you can find a loan calculator, and after entering the personal data, a dedicated loan officer takes care of the match between the borrower and the bank. What the loan is being used for does not matter.

              You can apply for a personal consultation with the founder of this specialty portal and his team. The consultation is subject to a fee, just like with a tax consultant or lawyer. It is a matter of mindset if you want to have an experienced partner by your side. In most cases it does work without, therefore we have the loan calculator on top of the page. Best of luck!

          • Kristina Dalama says:

            Hello, I’m Kristina and I just move here in Germany I have 2 kids…. we just new here more than a year now… and I like to work cannot because of my little daughter… and I cannot speak German…. it’s not easy for me at all…. my man also comes from here but we was stay so o long in philipines before… now we move here and make a new start…. and me and my man is a job center support is there a possible to loan money like in our jobcenter support situation please let me know if there a chance. Thank you.

            • Richard Banks says:

              Welcome to Germany, even if it has been more than 1 year by now. Before it makes sense to apply for a loan, you have to work for at least 1 month. With some providers it is 3 or 6 months. Since you can hardly know this requirement, the best way to start the loan application is using the tool above. Social transfers from the job center do not count as income from work.

  3. Bashar Kurdiah says:

    Hello ! I got a job since the beginning of this month with an income of 2300 (~1600) netto.
    Can I apply for a 8000 € loan to buy a new furniture and pay the insurance for my new apartment?
    Like I said I start my job this month. It’s a 2 years contract and my I have my account at Sparkasse.

  4. Miguel Marmol says:

    I would like to know what are the minimum requirements for a 25,000 euros loan, to be paid in 4 years.

  5. Eric says:

    Do banks in Germany allow you to refinance an auto loan, after so many years of paying the debt off.

  6. Gosia says:

    I have a couple of questions about mortgage loans. Currently, I live with my husband in England, but now we are moving to Germany and we plan to buy a house. My husband has already got a job and his monthly salary is 2200. I am looking for work. Additionally, we have about Euros 110,000 equity and we had very good creditworthiness checks (in England). Is there any way to get a loan after a few months?

    • Gregor says:

      Yes, these credentials sound pretty good. For a really promising real estate financing, it comes down to a few details.

      a) Unrestricted residence permit. As an EU citizen, you have that in Germany to 99.999 per cent.

      b) Equity. In any case, to pay the purchase costs, such as notary, income tax and, if applicable, the commission for the real estate broker. 100% financing is currently rare. 80% financing is a little more frequent, with 60% you get a good discount on the loan interest.

      (C) Income from work (or pension, partially also income from investments). It is important that the income of work exceeds the cost of living (for this, banks use a per capita amount) and the calculated loan instalments.
      Basically, the income from work is accepted only after the end of the probationary period. This is usually 6 months after the beginning of work. And the employment contract must be permanent (no time contracts for one year or the like). The bank wants to make sure that you can repay the loan without problems.

      This is somewhat more difficult for self-employed people. Their business must exist since at least 3 years, and instead of salary proof, the tax declarations are submitted to the bank for the purpose of checking the income.

      In your case, it makes sense to make the financing request only when your husband or even better both of you have finished the probationary period.

      The largest German platform on the Internet for real estate financing is It is especially suitable for standard financing, because you can get a very good interest rate through it.

      If you are not a standard case, it is often advisable to work with a professional finance consultant. Someone, who knows from experience, which bank is flexible in your personal situation and can also offer solutions that are outside the standards.

      With regard to the financing of real estate in Germany with foreign income, we have a cooperation with a specialized finance chancery: – maybe they can help you.

      We would be happy to research further possible solutions, if you provide concrete data and possibly documents/proof. This is an interesting topic!

      I hope this initial information will help you! We wish you a good move and welcome to Germany!

  7. Thomas says:

    Hi there,

    Great info, thanks very much. We’re planning to buy a house in Berlin. We are looking in the region of 500k maximum (including notary, provision, etc. costs). We’d pay 50% downpayment so we are looking for a mortgage of ~250k euros but not more than 50% of the total price.
    I have income from Hungary though, as I currently own a company there. My salary is not too much, but dividend each year was over 100k euros netto. Company was formed in 2007 and I’ve been the owner and CEO since that time.
    Do you have any suggestion on which lending companies /banks we should give a try ?
    Thank you.

    • Editorial Team says:

      The credit comparison on this site is for private persons for financing without evidence of usage (classic installment credit).

      The subject of real estate financing is more complex, and we are going to issue a “special” about that next year.

      It would not be right to now give public recommendations, without having performed our research and first successful tests. In your case you definitely need a banker with a flexible mind :). After all, this is a real life case – but simply not an easy standard case like banks love it. Good luck!

  8. Carla says:

    thank you for all good info you provide on this page. We are looking to buy a house in Germany and we are looking forward to learning more about it. We would like to know how to find a financial consultant and if he/she is paid by the bank. A reliable link to a mortgage comparison calculator would be useful. Thank you

    • Editorial Team says:


      This credit comparison is designed especially for installment credits between 1,000 and 120,000 Euro – with free disposition of funds.

      Currently, we do not offer any support for real estate financing, since this is so very individual and consultation-intensive (whereas in our first trials the interested persons often had stopped participation) that this is not manageable via our web portal. Best of luck with a different provider!

  9. Carla says:

    Thank you for your reply! All the best!

  10. Dasa says:

    Since 12 years, I live with my husband and our children (12 and 13 years old) in Germany. Since 6 years, I have a permanent employment contract and earn about Euros 1,300. My husband has his own business and his monthly income is about Euros 2,000. Since one year, we rent an apartment for Euros 1,060 (rent including heating). Can we get a loan for an own 4-rooms apartment?

    • Gregor says:

      Mh, I do not exactly understand what you mean. Are you looking for a real estate financing to buy a 4-rooms apartment or to get a loan in order to equip a bigger apartment?

      However, the requirements from the perspective of the employment are good: permanent employment contract + own business. It would be important in this case that the own business exists long enough, so that you can submit at least one (better three) income tax assessment.

      To what amount you can “afford” a loan, depends on the household expenditures. The bank will add both of your income amounts and then deduct the “living costs”. The remaining amount is the maximum possible loan installment.

      If you know this, then you can change the term at the loan calculator, so that a loan amount will appear that you can afford.

      The household expenditures are actual costs – if known – or a statistical lump sum will be used. These lump sums can vary from bank to bank.

      I have calculated this for you:

      Your income: € 1,300 (net income)
      Income of partner: € 2,000 (net income)
      Child support: € 384 (2 children)
      Further income: no
      Total household income: € 3,684
      Rent (including ancillary costs): € 1,060
      Living costs: lump sum that a bank would use for calculation (€ 2,100)
      Car costs: not known
      Further expenditures (e.g. old loans): not known
      Preliminary result: € 524

      After this rough estimate, you can afford a financing with a monthly installment of up to Euros 524.

      Attention: If you own a car, you must deduct the actual costs or a lump sum. Also if installments of older loans have to be paid.

      I personally would take at least 20 – better 50 – per cent less. This would be a monthly installment of Euros 262 according to the current calculation.

      Reason: Living in an own (bigger) apartment is often more expensive and there are always unplanned expenditures in life (e.g. defect of technical devices). The bigger apartment would not be worth the trouble, if you are then facing financial difficulties … okay?

  11. Hema james says:

    I am working in germany since 7 months. I have work permit for 3years. But my visa is only till august and later it will be extended. I am getting monthly netto 1600. I am living alone. I would like to take 30,000 Euro. Is it possible and what are the eligibilities and papers I have to submit?

  12. Alberto Hernandez says:

    The personal loans is only for residents of Germany?

  13. Uwe says:

    Hello dear team of,

    I am interested in knowing, what you think of the current smava offer: € 1,000 at -0.40% and a term of 36 months?

    I have registered at smava for the sake of interest to see, whether the offer is freely available. As the sole borrower (~ 2600.- net/month) I was not offered the mentioned loan. As a joint borrower together with my wife (~ 900.- net/month) without our special annual employer payments, I could get the above mentioned loan.

    Currently, we do not really need the money, but we would like to “bunker” the money for a bigger investment in the future.

    What do you think being professionals, could such a project cause disadvantages in the Schufa, or the like? Or should one consider such an intention?

    For your information, I have been following your greatly-made page for some time now and have already implemented some of your tips (current account, credit line …).

    Thanks again for your informative reports and recommendations, one always has the feeling of your articles that one is not “pulled over the barrel”.

    Greetings Uwe

    • Gregor says:

      That is a very good question, many thanks!

      The loan with the negative interest rate is a marketing action of Smava. Very skilfully and cleverly made. For the idea and the implementation, I pay great respect to the Smava people!

      The loan offer is also real and is given by Smava itself. However, as we have received feedback from our community, it is only offered to a few after the application procedure.

      The criteria according to which it rejects the loan at the data entry and creditworthiness check, is not very clear. When queried, Smava answered that the subsidized negative interest rate is only offered to those of the highest creditworthiness category.

      Now it is interesting to see that you as a sole borrower did not get the offer, but in combination with a second borrower. Thrilling!

      If someone else has tried to get it, I would be grateful for your feedback. Just trying has no effect on the Schufa, as only the query „Kredit Konditionen“ (loan conditions) is entered.

      For building the creditworthiness or bunkering money, I would not use the offer, because what kind of signal is sent, when you take a loan of Euros 1,000 with a term of 3 years? Additionally, you will immediately have Euros 1,000 in the account, but at the same time with an additional monthly burden of Euros 27.31.

      If I understood you correctly, there is already this credit line. You could also apply for this one ► – or if securities assets are available, use this option ►

      For someone, who wants to finance a product or a service worth Euros 1,000 or with an additional payment of Euros 1,000, the Smava loan is, of course, the best option!

      Thank you very much for the appreciation of our work 😊 That makes answering much more enjoyable!

  14. Sukanya Subramanian says:


    I am Sukanya working in an company in Germany, I am earning like ~2500/month I am having a permanent contract and Blue card valid upto 2022. I am planning to apply for loan around 10000 to 15000 Euros, My questions are What will be the interest rate??
    How much maximum Euros I get ??

    • Editorial Team says:

      The maximum limit for the credit line depends on many factors and also differs from bank to bank. First, all necessary information as well as the creditworthiness check need to be presented in order to get a statement.

      The easiest would be to start the credit comparison above and e.g. start with 15,000 Euro. In case a smaller amount was a viable option, one gets a counter offer from some banks. Then again, others offer more, if they see more potential. If you are more daring, start with 20,000 Euro and see what happens. Best of luck to you!

  15. John says:


    My name is John from Japan.
    I have got a new job in Germany and get a salary of 4500 (netto). I want to close my loans in Japan, hence want to take a loan 25000€ here. Request your views on the possibilities.


    • Editorial Team says:

      That’s an intriguing decision. How how is the interest rate in Japan? Wishing your best of luck with the implementation.

      The following has worked out previously, but this is not supposed to be an official statement: Please DO NOT state “repayment of other loans” as an intended use, because then Deutsche Bank will want to see the previous loans … the question is also, whether you want to state those loans in Japan at all. After all, they will be repaid anyway and are not registered in any German information office.

  16. KalR says:

    I’m non EU PR holder residing in Germany. Can I avail a loan to buy land in Germany without constructing a house on the land.

  17. Hellem says:

    I am working in germany since 7 months. I have unlimited working contract. But my visa is only till august and later it will be extended. I am getting monthly netto 3500. I am living alone. I would like to take 30,000 Euro. Is it possible to get loan?

    • Editorial Team says:

      Income, work, and intended loan amount fit. Now you only need a bank smart enough to know the extensions of the residence permits. The best is if you start the comparison above and then wait for the personal contact of the credit consultant. Best of luck!

  18. Alukozai says:

    Hallo I live in Germany since 5 years I have long time contract from my job and I have one question I have already taken a loan and want to take some more my income is very good. I can afford to give it each month some so is it possible to have again loan thanks

    • Editorial Team says:

      Yes, one can have more than one loan … one can also take on a bigger loan and pay off the smaller one. This makes sense, if the new loan has a better interest rate. The easiest way would be to start with the calculation tool above. Best of luck!

  19. Kumar says:


    I come from India and need to invest in India. I have current salary for 3950(net income) and my rent is 600 EUR. I have an open contract with my employer and my probation ends in December.

    I have a blue card valid for next 4 years. I need a loan of 50,000 EUR.

    So, will I be eligible for loan or I foresee any restrictions.

    Thank you.

    • Gregor says:

      If I were you, I would proceed as follows: In the loan calculator above, enter 50,000 Euros and a duration of 48 months (= 4 years). The loan must be paid off within your visa period. At the current low interest rates, the monthly rate is slightly over 1,000 Euros. You should be able to manage that with the good income and low rent, right? If so, just start the online process and see what happens.

      I cannot make any promises, but I wish you all the best!

      PS: How you use of the money is your choice. You can do whatever you want with it, but do not say that you want to use it for a foreign investment, nevertheless. 🙂

  20. Robert says:

    Hello, I have a question: on the 4th of November 2015, I was registered at the Schufa and I have so many problems with that. Recently, I wanted to do something about it and my colleague has turned to the Schufa in my name. The Schufa-employee told him to call the district court and should then enter a number that I got in the Schuf-query. So my colleague called the district court and was told that the man involved with my district is on vacation until the 13th of November 2018. After that day, we called again and he said that he cannot find any information about my debt. So we called the Schufa again and it turned out that my debt was cancelled on the 4th of November 2018 (after 3 years!). My colleague asked for certainty that I could now apply for a loan without worrying about being rejected, because of the Schufa-score. The Schufa-employee’s answer was positive, so I made a loan application at bank recommended by Smava. I wanted a Euros 10,000 car loan. However, I am still afraid that the bank’s response will be negative, so I would like to ask, whether my concerns are right or not. I work at a German company and since February 2016, I have a permanent employment contract, so also a fixed income (monthly about Euros 1,900). My rent is Euros 450 and the rest is my costs of living. I have no debt, except for a loan in the amount of Euros 7,000, which I took last month. The bank has assigned this loan to 10 years and the monthly installment is Euros 180.

    I kindly ask for your quick answer, so I know what to expect.

    • Gregor says:

      As far as I can tell, you did everything right. If Smava recommends a bank (after entering all personal data), then the likelihood of loan approval is very high. Smava has already calculated your application with the credit data. It only depends on whether your documents (salary statements etc.) contain exactly the same data that you have specified.

      Think positively about this!

  21. Romeo says:

    Hello, I live with my husband in Germany since 2.5 years. He has a fixed-term employment contract and me too, but for a shorter period. Now I am pregnant, but I still have a regular income. At the moment, we rent an apartment and that is our only financial obligation. We would like to take a loan in the amount of Euros 3,000. Is there a possibility to get such a loan for the term of 2 years? We also have our own savings and took no loans until now.

    • Gregor says:

      In this case, please apply for the loan as soon as possible, because when you are on parental leave, it is difficult to get a loan. Good luck!

  22. Jimmy says:

    Hello, I have my own company (over one year on the market), I live with my wife and my child in Germany since 2 years. I am registered here, but I rent the apartment from the housing association. My credit history is positive. Before I founded my company, I had a permanent work contract. My employer has filed for bankruptcy. Could I now in my position get Euros 50,000 as a customer loan for the term of 10 years?

    • Gregor says:

      You can try it! However, many banks recognize income from their own company/self-employment only after 3 years. The income tax assessment must be presented.

      Maybe you are lucky. Currently, German banks are granting loans more easily than a year ago. I wish you success!

  23. Dharinder Kumar says:

    I am working as a doctor here with minimum Netto 4600€ monthly, have 2 kids, got recently my PR, unlimited work contract, wife also doctor but presently studying German and may start working within next 2 yrs, home rent 730€ , car loan already paid off.
    Looking for a loan amount of 50k €.
    Targo bank ready @ 2.84% with 84EMI of 658€ monthly. Is it a good option or should I start with a smaller amount at first e.g. 20k-30k € and then in some months another similar amount. Confused a lot .
    How do I proceed further?

    • Gregor says:

      The answer is easy: You should rather get a larger credit amount and pay it back early before it is due than to have to take care of additional financing at a later point.

  24. Kush says:

    I am earning 3000 net in germany and would like to apply for 30000 euros for 36 months.
    I am living here from 2 years and on unlimited contact and with blue card.

    What would be the conditions to get the loan?
    Also does the loan period depends on the blue card expiry date ?

    • Gregor says:

      See above 🙂
      (We gladly answer questions free of charge – but not always the same ones over and over)

      • Kush says:

        I am offered 30,000 with 8.79% effective for 60 months.
        Which makes me to pay back 52,000 euros in 60 months?

        Should I apply at other banks now or it will impact my Schufa pretty bad?

  25. Simon says:


    I would like to take a loan ~27.000 euros for the time 6-7 years, can be 8 years. Basic information below:

    – in Germany since end of the March 2019 (registered);
    – full time, permament job;
    – net income 2450 euros
    – German bank account since September (~200 euro on a bank account, as I still receive salary on my old account).

    Can you tell me if I have any chances to obtain such a credit?

    Thank you.

  26. Devender says:

    I have not seen Commerz bank in the comparison list.
    Is it good bank to go with for a loan of 50,000€

  27. Alwin says:


    I am an International student also working and earning 750 per month. I have my room rent 300, insurance 100. I am here in Germany since last year October. I have my Visa valid up to October 30th, 2022. I started my new work in the start of this august. I would like to take a loan for 7000 euros. And I want to know it is possible? Also, I want to know the maximum loan time period. I also want to mention that, I have a stayback of 18 months after my studies.

    • Richard Banks says:

      Sorry, 750 Euro really do seem a very low for a succesful credit application. A bank will always wonder how the applicant is going to pay back the loan. And they work with statistical probabilities and allowances.

  28. Patrick Filnz says:

    I applied for a personal loan of 3000€ and have paid up to 1600€ so can I get up to 6000€ loan for the second time

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