In this article I will show you, how I have received – despite a not particularly high income – a framework credit in the amount of 25,000 Euro immediately after the online-application.
You will learn how to do this as well, and why the set-up of a framework credit (in German: Rahmenkredit) makes sense.
The set-up of the framework credit is completely free if charge and non-committing (for you, not for the bank!)
What exactly is a Framework Credit (Rahmenkredit)?
A framework credit works like an overdraft facility: You receive a credit line, up to which you can have your account in a minus. Only if you do that, interest will need to be paid, otherwise not.
With the provider I have chosen, this interest even is particularly inexpensive – much less expansive than with the most banks that provide giro accounts.
More good news: You do not need to open another giro account. You can get the overdraft facility/framework credit, even if you do not have a giro account there and do not intend to open it there.
In addition, these 25,000 Euro – and you will be surprised, how easily you can get them – much more than what you generally get as an overdraft facility on your giro account!
Just so you know and can be on the safe side: The framework credit can also be applied for with smaller amounts: starting with 2,500 Euro in increments of 100 up to max. 25,000 Euro.
A framework credit is like an overdraft facility without a giro account – but the credit line is higher and the interest rate better for the banking customers!
Which bank is exactly the right one for this?
There are not many banks that offer this kind of credit line (and at such very good conditions, on top of that). I have made own experiences with four banks, though two of them I would rather not recommend.
Regarding advertisement and procedure, all four banks were good, but at two providers, the credit line was not permanent, if one did not use it from time to time … and what we want to organize, is a permanent solution!
If you currently want to retrieve money up to 5,000 Euro, then the special offer of Volkswagen Bank (www.volkswagenbank.de) is better.
In all other cases I would choose the framework credit of ING-DiBa (ING-DiBa Rahmenkredit) and have done so at the beginning of the week, as you can see in more detail later.
Can anyone get 25,000 Euro at ING-DiBa?
Naturally, not anyone meets the requirements for getting a credit line, because for that the following is required:
- Income from a regular, steady job
- No negative Schufa entries
(the Schufa has to respond to the bank’s query with a relatively positive credit evaluation).
If these both requirements are met, one has a very good chance that the credit line will be granted.
The amount of the maximally possible credit line results from the calculation of household budget + interest.
The household budget consists of your net income minus the living expenses. ING-DiBa does not calculate with the actual costs, but with lump sums.
For example: A single earns 1,650 Euro net. Several lump sums for house/apartment, car, general living expenses amount to 1,400 Euro. Therefore, a freely available amount of 250 Euro remains.
There is one particularity that is hardly known!
If they now wanted to get an installment credit in the amount of 25,000 Euro, the application would be rejected, because even the most advantageous provider in the comparison calculates for a 84 months duration – provided the highest credit rating is granted – a monthly installment of 318.45 Euro. Okay, they could aim for a longer duration.
I would like to draw your attention to a very interesting fact:
For installment credits (you get the full amount after the credit is granted, and the credit installment is debited monthly from your giro account abgebucht) the creditworthiness is calculated as an answer to the question, whether you can take care of the monthly installment.
For an installment credit the monthly installment consists of interest + repayment. Matter at hand is the repayment of the credit within a contractually agreed upon duration.
For a framework credit the monthly installment consists only of the interest. Whether and when you repay the credit, is not important, since the credit line is set up permanently. The repayment is flexible, exactly like with an overdraft facility.
The differences for you at one glance:
|Installment credit||Framework credit (Rahmenkredit, like overdraft facility)|
|Disbursement||Complete credit amount on the 1. day||You log into the online banking yourself and start disbursements when, as often and in which amount you want|
|Repayment||Per debit of a monthly installment in which interest + repayment are included
, potential additional special repayments
|You decide on the time and the amount of the repayment, only the interest|
|Credit end||with the last installment||credit line is set up permanently|
|Please leave the comment in the comments feature at the page end, in case the overview is not totally clear and comprehensible.|
Fact: With a framework credit (Rahmenkredit) you can get a considerably higher credit amount!
What does one have to do to get 25,000 Euro?
The trick is very simple: You only need a freely available income (i.e. your net income minus the living expenses and other fixed costs) in the amount of the monthly interest payment that would be due if you made full use of the credit amount.
How do you find out about that?
Even easier: You use this link ► directly to the framework credit (Rahmenkredit) page of ING-DiBa and move the control of the „Rechner“ (calculator) completely to the right.
At the time of the article production, it looked like this:
The maximal interest burden, if you used the whole 25,000 Euro the whole month, would be at 121.46 Euro.
This means: If your freely available income is more than 121.46 Euro, then you should get a credit approval of 25.000 Euro.
Simple and logical, right?
Application step by step
1. Switch to …
… the Rahmenkredit / framework credit internet page of ING-DiBa ► www.ing-diba.de/rahmenkredit.
2. Fill in online application
The second page is about your personal finances. This information is important to evaluate your creditworthiness.
Which credits do already exist?
Optional: The Income Check
On the third page you can find the summary of your information and requests.
Click on “Vorcheck starten” (start preliminary check), and within just a few moments you will know, whether the credit line was approved. Everything else will only be a formality.
If you monitor your Schufa entries as exactly as I do, then you will see it like this as well:
Page 5 (last page)
On page 5 you are notified of the result of the preliminary check. In case the result is not positive, we recommend our programm for asset building (German speaking programm), and to use it even more intensively. In month 4 we will discuss the subject of Schufa and improvement of the Schufa score with attorney Julius Schoor. It is the current score that often causes a negative result.
Has the check turned out positive, then the rest is a formality. You will be invited to go through the legitimization process, in case you are not yet a customer of ING-DiBa. In addition – at least that iss currently the case – the credit agreement needs to be manually signed and sent per regular mail to the bank.
Your Welcome E-Mail (after sending back the credit agreement) could look like that:
Implementation Report to Schufa (that is positive!)
Personal Statement to today’s Article
You might be wondering why I discuss Schufa ins such detail. (Most credit pages on the internet more or less blank out this subject!)
The answer is important!
I do not want to “sell” you a credit, my esteemed readers, dear smart banking customers (though I am happy, when my instructions are deemed interesting, are implemented and recommended/linked). This is about more!
I am here to help smart banking customers like you to improve your relationship with money and banks – to increase financial potency, so you have the means to lead the life that you deserve. In general, banking customers are being kept in only a little knowledge on purpose; even all those EU regulations regarding leaflet supplements are not of much help there.
Some of you might know the saying: „As above, so below.“ I a broader sense it means: If you prefer to stay within your balance area, you should still have some knowledge about the credit area. Both areas are – in total – of the same size and need each other.
Some readers already know this: You can build up the upper area more quickly, if you use the lower area as well. With this speciality portal and the annexed program you will have some great support!
Summary of the Possibilities
- additional credit line in the amount of 2,500 to 25,000 Euro
- can be set-up today without a disbursement being neccessary
- no disbursement = no costs
- costs only in the form of interest, when money is received
- can be repaid in parts or as one complete amount
- only monthly debit of the credit interest (currently, 25,000 Euro would only cost 121.46 Euro per month)
- the credit line is set-up permanently and remains, even when it is not used (cue: emergency credit line)
- the application is simple and possible online.
Ready for a high credit line?
If you are ready for a high credit line in your live that does not oblige you to anything and does not cost you anything (unless and then only for the duration you make use of it), then you can find the start button here:
“Start Button for the Smart Credit Line”
I wish you much success with the set-up!
Why does it make sense (even when you do not need it), to get a framework credit?
Maybe you have heard this saying before: A bank gladly loans you money, when you don’t need it – but not once you do.
… and I would like to add: … and if the bank does, then it is going to be expensive (high interest)!
Of course: Banks, particularly credit departments, want to avoid risks. They work painstakingly to refine their systems that are supposed to protect them from losing money (refined credit worthiness checks).
At the same time, banks aim at earning money.
This is easy, if you loan money for interest to somebody, if they repay you at the agreed-upon time.
The one thing that is even better is receiving interest payments on a permanent basis (passive income), because the debtor keeps paying interest, does not repay the credit amount, but still has the creditworthiness to be able to do it at any time. This is something we find example with the debt financing of the State of Germany.
The smart Point to it all
If you follow that thought, you might arrive at the idea that it is a great strategy to agree on a credit line with a bank, at a time, when you do not need any money. This money can then be used – without any further checks – once you actually need it!
This strategy can be implemented via the framework credit / Rahmenkredit of ING-DiBa.
 Why my income that is of importance for the bank is so low, you can learn in the Programm for Financial Freedom, when we discuss the four different kinds of income.
A little preview: For a credit approval up to 1 million Euro, the best kind of income from the bank’s point of view is income derived from a job. If you are an employee or civil servant, that is the easiest way to obtain a very good framework credit (or other financing forms).
Further Articles for Smart Banking Customers:
- Experience with the Framework Credit / Rahmenkredit of ING-DiBa
- Overdraft Facility Lines in Comparison
- ING-DiBa in General
For all that like to get their information via video:
Link to the Framework Credit (Rahmenkredit) ► www.ing-diba.de/rahmenkredit
Many thanks for sharing and linking this article!