How personal loans work in Germany
German Privatkredite are typically fixed-rate installment loans (Ratenkredite). You receive a lump sum and repay equal monthly installments. APR includes all mandatory fees, so it's the only number that matters for comparison.
Where to find the best rates
Brokers like CHECK24 and Smava compare 20+ banks in one application without a SCHUFA-hard inquiry, then forward your data to the best lender. This typically beats applying to single banks directly.
SCHUFA and approval
A good SCHUFA score (above 95%) unlocks the lowest rates. With weaker scores, look at Auxmoney (peer-to-peer) or consider a guarantor. Always check rate offers — banks must give you a personalized rate, not just the advertised teaser.
Tips to save money
Choose the shortest term you can comfortably afford — interest scales heavily with duration. Negotiate the rate if you have multiple offers. Avoid optional payment protection insurance unless you truly need it.
Top loan providers compared
| Lender | From APR | Max amount |
|---|---|---|
| CHECK24 (broker) | 3.99% | €120,000 |
| Smava (broker) | 3.99% | €120,000 |
| ING Privatkredit | 4.59% | €75,000 |
| DKB Privatkredit | 4.39% | €65,000 |
| Auxmoney | 4.49% | €50,000 |
Frequently Asked Questions
What credit score do I need?
Most prime German lenders want a SCHUFA score of 90+ for the best rates. Auxmoney accepts lower scores.
How fast is approval?
Online approval is often instant, with funds disbursed within 2-5 business days after document verification.
Can I repay early?
Yes. German law caps early-repayment fees at 1% (or 0.5% if remaining term is under 12 months).
Will comparing affect my SCHUFA?
No. CHECK24 and Smava use SCHUFA-neutral inquiries when comparing offers.
What documents do I need?
ID, last 3 payslips, bank statements, and proof of address. Self-employed applicants need 2 years of tax returns.
Ready to get started?
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