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Find a Loan in Germany - Everything You Need to Know

Getting a loan in Germany as a foreigner can seem overwhelming. With this guide, we'll help you understand the process and find your perfect loan in 3 steps:

  • Fill out the form

  • Our algorithm creates a selection of pre-approved and individually tailored loan offers for you

  • Choose the offer that suits you best and secure your German loan quickly and easily!

Here you’ll find everything you need to know about German loans:

30.000 €
100 €
250.000 €
60 Monate
12 Monate
120 Monate
Günstigstes Angebot aus über 60 Kreditoptionen:
509 €
Mntl. Rate
0.68%1
Eff. Jahreszins
+49

¹Repräsentatives Beispiel gemäß § 6a Abs. 4 PAngV: 2/3 aller Kunden erhalten: Nettodarlehensbetrag 6.000,00€, 4,990% eff. Jahreszins, 4,883% fester Sollzins p.a., Laufzeit 48 Monate, 48 monatliche Raten à 137,84€, Gesamtbetrag 6.616,32€. Laufzeit von 12 bis 120 Monaten. Effektiver Jahreszins min 3,99% – max 15,99%.

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The search for your desired loan costs you nothing – our service is completely free and non-binding.

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Our offers are tailored to your needs. We connect you with lenders where you have the best chances – with high approval rates and fair terms.

Fast process

As soon as you fill out the form, you will immediately receive your personalized loan offers. Choose the right offer and get your money directly into your account.

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Loans in Germany - Everything You Need to Know

Navigating the German loan market can feel overwhelming at first. For international students and foreigners, understanding how loans work is essential for managing tuition fees, rent, or unexpected expenses.

But don’t worry – we’re here to help. In this guide, we’ll walk you through everything you need to know about loans in Germany, so you can confidently find the option that best fits your financial needs.

What is a Loan?

At their core, loans are a financial agreement between a lender and a borrower that defines the terms under which money is borrowed and repaid. The lender provides a specific sum of money under agreed-upon conditions — usually including an interest rate and possibly additional fees. These charges serve as compensation for lending the funds and are typically repaid by the borrower in monthly, quarterly, semi-annual, or annual installments.

The loan agreement specifies key factors such as the loan amount, repayment period (term), and interest rate. In most cases, loans are provided by banks or financial institutions, which lend money to their customers under legally binding contracts.

A loan example

For example, if you borrow €100,000 over a term of 8 years (96 months) at an interest rate of 7%, the total repayment amount — including fees — comes to approximately €140,000. This sum is spread over 96 monthly installments, resulting in a monthly payment of about €1,377 (including all fees).

Traditionally, borrowers would need to visit a local bank branch to apply for a loan. However, with the rise of online banking, numerous digital lenders now offer fast and convenient online loans in Germany.

While traditional banks often require a detailed review of your financial situation — including income, budget, and spending history — online lenders typically ask for less documentation, making the process more accessible and efficient. In addition, some online banks offer lower interest rates, as they do not incur the high operating costs associated with maintaining physical branches.

Loans in Germany

The Pros and Cons of Online Loans in Germany

With more than 10 years of experience in the financial sector, we’ve gained valuable insights into how online loans in Germany work. Below, we’ll take a closer look at the advantages and disadvantages of online loans, so you can make an informed decision about whether borrowing money is right for your situation — and which loan type best fits your current needs.

Pros

  • Loans that suit your situation

  • Allows you to realize your projects

  • Transparency throughout the entire process

  • No loan justification

  • Convenient and flexible

Cons

  • Debt, if you are not careful with your budget

  • Reckless spending

  • Extra fees if you do not comply with payment dates

Overall, payday loans, consumer loans, and other short-term loan products in Germany can be a useful way to access extra funds quickly, especially when it’s important to cover expenses immediately.

However, if you don’t plan your budget realistically and carefully, repaying these loans over time can become challenging. Additionally, taking out a loan to finance depreciating assets — such as electronics, fashion items, or short-lived trends — is generally not a wise financial decision. Loans should ideally be used for meaningful or necessary expenses, not for impulsive or non-essential purchases.

The German loan market has grown significantly in recent years, with new lenders constantly emerging. This abundance of options can make it challenging to determine which provider is right for you.

Our top 3 takeaways related to loans in Germany

  1. Research and Compare:
    With many lenders in the market, there are often special offers available for both new and existing customers. Take the time to compare different options and choose the lender that offers the most favorable terms for your needs — rather than settling for the first available offer.

  2. Understand the Total Cost:
    Look beyond the interest rate and consider the overall cost of borrowing. This includes processing fees, insurance, and potential early repayment penalties. Understanding the full cost ensures you make a well-informed financial decision.

  3. Check Your Credit Score:
    In Germany, lenders usually assess your SCHUFA score when reviewing loan applications. It’s wise to check your SCHUFA report in advance and correct any errors or negative entries to improve your chances of approval and secure better loan conditions.

Take the time to compare different lenders and their terms carefully to find the loan that best fits your financial needs. And always remember — every loan is a financial obligation that must be repaid in full and on time.

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Do you have any questions?

Frequently Asked Questions

Here you can find answers to the most frequent questions.

The requirements for obtaining a loan in Germany vary depending on the lender. However, there are several common criteria that most applicants must meet:

  • Be at least 18 years old:
    You must be legally an adult to take out a loan. Some banks also set a maximum age limit, usually around 65 years, as this is typically when residual debt insurance coverage ends.

  • Have a registered residence and bank account in Germany:
    Lenders generally require that you live in Germany and hold a German bank account where the loan can be deposited and repayments can be made.

  • Provide proof of stable income:
    A regular income is essential to demonstrate that you can repay the loan after the agreed term. Without verifiable income, banks are unlikely to approve your loan application, as they must ensure repayment including interest.

  • Have a good credit score:
    Most banks will check your SCHUFA score, which reflects your credit history and financial reliability. A strong SCHUFA score increases your chances of approval and may help you secure a lower interest rate.

Here on Moneezy, you can easily compare offers from online lenders in Germany and find the loan that best matches your needs and financial situation.

Personal loans (Verbraucherkredit), private loans (Privatkredit), quick loans (Sofortkredit), mini loans (Minikredit), and unsecured personal loans (Kredit ohne Sicherheit) are the main types of loans that follow the classic loan structure in Germany.

In each case, you apply for a specific loan amount and agree on a repayment period that includes interest and any applicable fees. The different loan terms primarily serve to distinguish between smaller and larger loan amounts.

Uses for classic loans

These loans can be used for a lot of different things. The smaller personal loans in Germany can be used for an unexpected expense that has come through, an emergency that must be taken care of, or invested in an item you've wanted for years. A quick loan in Germany might then be a convenient option for you.

The bigger consumer loans are more suited towards initiating start-ups, loans for property or vehicles, as well as energy optimization or renovations in your home. The possibilities are endless, which is why the consumer loan is the most common loan.

If you’re dealing with a short-term financial need, a mini loan in Germany might be the ideal choice. These loans are intended to cover smaller expenses or emergencies and usually come with shorter repayment periods.

For those requiring immediate funds, many lenders in Germany offer instant loans in Germany, which provide a quick and convenient solution. These loans are processed rapidly, and in some cases, the approval and payout occur within the same day.

Special loans are designed to meet specific financial needs, offering tailored solutions for situations that don’t fit standard loan types. Here are some of the most common ones explained:

Consolidation loan (Umschuldungskredit): Combining several smaller loans into one larger loan to simplify repayments and reduce overall interest costs.

Consolidation loans (Umschuldungskredite) are particularly helpful for borrowers who have taken out multiple small loans and are struggling with managing different repayment schedules and varying interest rates.

Flash loan (Blitzkredit): An ultra-fast loan designed for immediate financial needs, often approved and paid out within 24 hours.

Flash loans (Blitzkredite) are especially helpful in urgent financial situations, though they often come with higher interest rates because of their rapid approval and payout process.

Payday loan (Kurzzeitkredit): A short-term loan meant to cover urgent expenses until the next paycheck, typically involving smaller amounts.

Payday loans (Kurzzeitkredite) in Germany are ideal for covering short-term financial gaps, but they often carry higher interest rates and brief repayment periods, making them best suited for urgent or emergency situations.

Overdraft (Überziehungskredit): Allows you to overdraw your bank account by a set amount each month, offering short-term financial flexibility.

Overdrafts (Überziehungskredite) are particularly useful for larger projects, such as home renovations, where unexpected expenses can arise suddenly. The overdraft only activates when your account balance falls below zero, automatically covering the additional costs. Once your next paycheck is deposited, the borrowed amount is repaid automatically, along with a small amount of interest.

Car loan (Autokredit): A loan specifically intended to finance the purchase of a vehicle, whether new or used.

Car loans (Autokredite) in Germany generally offer lower interest rates than standard personal loans and are usually secured by the vehicle itself until the loan is fully repaid.

The speed of fund disbursement depends on the lender and their processing procedures. Some online lenders can transfer the money within a few hours to one business day after approval, especially when the entire process is fully digital.

In other cases, it may take a couple of days if additional verification steps are needed. It’s best to check directly with the lender for precise information on their payout timelines.

Applying for multiple loans within a short period can have a negative impact on your SCHUFA score — the credit rating system used in Germany. Each loan application triggers a credit inquiry, which is recorded in your SCHUFA report.

When several applications are made in quick succession, it may signal financial instability or a higher risk of default to potential lenders. As a result, your credit score may decrease, making it harder to obtain loans in the future or leading to higher interest rates.

To protect your SCHUFA score, it’s best to avoid submitting multiple loan applications at once and to apply for credit only when truly necessary. Taking a measured approach helps maintain a healthy credit profile and better loan conditions over time.

If you are having trouble with paying back your loan, you can look for help by turning to:

  • Contact your lender:
    Many lenders offer debt counseling services or can help you restructure your repayment plan to make it more manageable.

  • Reach out to a debt counseling center:
    Organizations such as Diakonie or Caritas provide free and confidential debt counseling to help you find realistic solutions.

  • Visit your local social welfare office:
    Your Sozialamt (social welfare office) can offer guidance and support programs for individuals struggling with financial hardship.

If you’re having trouble repaying your loan, it’s best to seek professional advice as early as possible, so you can address the issue promptly and start getting your finances back on track before the situation worsens.

Remember that Moneezy does not provide financial advice or debt counseling services.

Repaying your loan early can be a smart financial move — but it may also come with additional fees, depending on the lender’s terms and conditions. In Germany, many lenders charge an early repayment fee (also known as a prepayment penalty) to compensate for the lost interest when a loan is paid off ahead of schedule.

This fee is usually calculated as a percentage of the remaining balance or set as a fixed amount. However, some lenders — particularly in competitive loan markets — offer loans without early repayment penalties.

To avoid surprises, always read your loan agreement carefully or ask your lender directly about potential charges for early repayment before signing the contract.

Student Loans (Studienkredite) in Germany are designed to support both domestic and international students in financing their education and living expenses throughout their studies. These loans typically come with favorable terms, including low interest rates, flexible repayment schedules, and deferred repayment options, allowing students to begin repayment only after graduation.

Several lenders and financial institutions offer student loans to international students, provided certain eligibility criteria are met — for example, maintaining a permanent address in Germany. Both private banks and state-supported institutions provide funding options that can be used to cover tuition fees, accommodation, or other education-related costs.

For international students without a steady income, some lenders may require a guarantor or proof of financial stability. Overall, student loans in Germany offer a practical and accessible way to reduce financial pressure and focus on achieving academic success.

With Moneezy’s loan comparison platform, you can easily explore and compare customized student loan options — featuring favorable terms, flexible repayment plans, and transparent conditions designed to fit your individual needs.

With Moneezy, you can quickly, safely, and easily find the loan that truly suits your needs. We present you only pre-verified offers from reputable lenders – transparent, easy to understand, and individually tailored to your requirements.

With over ten years of experience in the financial sector, we make the loan search as simple and transparent as possible for you. Just enter your desired loan amount, term, and a few personal details into our form, and you’ll receive a clear selection of suitable offers that you can compare at your convenience – helping you make the best decision for your financial situation.

No hidden fees, no complicated processes – just a direct and efficient path to your ideal loan.

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