Additionally, a loan from a foreign bank that has no cooperation with the Schufa, does not appear in their information file. The provider Vexcash has brought the new form of short-term loan to Germany. However, the interest rates won‘t be favourable. any advices. No, I just want to buy the car from a German dealer. Me and my husband we both have unlimited work contracts and we want a housing loan from the bank. Most German banks are very conservative when granting loans, especially when financing real estate. The DKB is rather a bank for employees, workers and officers. Hi, I am planning to complete my wedding ceremony next year, is there any option to have loan at 0% interest with more than a year time to pay back? If it does not come from Germany, there are only a few banks eligible for financing. I have lived in Germany for like 4 years now but I have only worked 3 months because I used to be an immigrant. In order to apply for such funding, … Since 2009, every federal state in … I’m owner of a Bulgarian company with a over 20 years history. View Business Loans Commercial Real Estate. When it comes to the credit business, most German banks are rather conservative regarding private customers. Please login or register to ask our experts a question. We cannot provide business consulting or credit mediation for businesses. I have account with deutsche bank, I have asked for loan I was refused, I then go through finanaza check which 3 bank send me a offers, Postbank, credit plus and ING DiBa which I sign and send them back I got a reply from ING refused. Are Euros 30,000 enough for a 60 per cent financing? Am so worried I have been in Germany for over a year working over a year but I have irish passport.please I need help. That’s because Lendio is more like a loan matchmaker than a lender—which is great news for you. Here is a special credit calculator for auto financing: https://www.deutscheskonto.org/en/loan/car/comparison/ – but you also could apply for a loan for general use. (Only check this, if you are a computer program.). One has to state exactly the same information about the person and the financial situation as in a bank financing. I need money to increase my income, there is still no stable income. Here are possibilities to get financing without a Schufa inquiry. Such a tool you can find here: https://www.deutscheskonto.org/en/loan/comparison-calculator-tool/. I am an EU citizen, living and working in Germany since 7 years and have a good schufa score. Not German citizen. Trick ► How to get a loan up to € 5,000 within 24 hours! Further questions regarding this subject will not be published here anymore. Thanks so much. View Small Business Loans Usually German banks require a) a residence in Germany, b) an income in (and from) Germany and c) a good credit check (a bit comparable with your credit history in the USA). Nobodyelse can make this desicion. I am living since 3 years in Germany and work in a company, where I earn Euros 1,000 net income. thank you for a very clear and informative article. The interest rates for 80 or 100 per cent financing are a little higher. For most international students Germany … Advice #4: How to get a loan with “negative Schufa“! I also purchased a house here (with bank loan) in early 2016. This is usually six months in Germany. Okay. However, one month is too short. The loan calculation namely considers every changes at the loan granting of banks and is therefore always up to date. I am from India. +Follow. One can always apply for a credit … but the probability of success is really veeerry low. Please make sure not to select a longer loan duration than your current permit of residence allows. The loan will be granted for five, seven, or ten years and will never be more than four times the investment made by the business. Most oft he credit banks attach importance on the income coming out of Germany as well (self-employed) or that there are salary payments from an employer in Germany. Do we have a chance to get a loan in this case and if yes, at which bank? She stays home and look after our kid. Yes, there is a way. My question is can the company’s investment loan be refinanced in Germany and what will be the conditions. The DKB offers an interest rate that is independent from the creditworthiness. I already have business plans drawn up to provide to the bank, if necassary. For that, a German residence is necessary, but that you have already. Best of luck! Startup Overseas is a trading name of Caroline Jones Marketing Limited, registered at 6 Crofton Ave, Horfield, Bristol, BS7 0BP. Good luck! Help making payments – and getting paid. she doesn’t earn much money since she can’t work now. Do you want to register the car in Germany? for your information: I don’t need big amount of money, just 5000 EUR. KfW fast track loan for the mid-sized companies. This depends a little on how good your current creditworthiness (still) is and how high your current loan interest is. i have account in post bank and deutsch bank. Advice #2: Loan rejected? I have a cousin in Germany whos address I can use. I will be staying here for 2 years. The background is: if the loan is not repaid on time, the bank can carry out coercive measures, such as a partial seizure of the income or account. Hello, I live in Germany, but I have a foreign citizenship and a permission of residence. If I am working in the U.S. (self employed since over 10 yrs) with stable income, German citizen, still have an address of parents in Germany that I am registered with, and would like to buy an apartment in Germany (have 30-40% of down payment), how can I finance the rest? Thank you! If it did not work with the loan application at your main bank (or if … Last week, I was at a bank to ask about another loan I need to develop my business (among others to buy the new tools). The most common form of a bank loan is called consumer credit or also instalment credit. This is very practical and the best way to get a loan. Whether that is a good solution in your case, I don’t know. This group can get a loan quite easily, if the working relationship exists since more than 6 months and the work contract is on a permanent basis, or at least with an end date after the loan term. I only need 5000 for home improvements but I have had about these two bank which I have fill the online application but I haven’t signed the contract yet please advise me on which one you think can give loan Maxda.de and Lendico.de. The four most important elements of a loan are. They might find a way. Information on the background of DeutschesKonto.org. What kind of loan should I look for? pay a high interest rate for your car loan so far, then it can make sense to reschedule the debt. How do I go about purchasing some public liability insurance, please?Many thanksAbdullah F Mishail. However, not a single advisor decides at a bank and no bank computer, whether the loan applied for will be granted. Do you know where could I find information regarding the requirements for this kind of loan? Problem is I receive my (EUR) salary to a foreign bank account (this cannot be changed unfortunately), otherwise I am a registered German resident, having German account and direct debits on it (like rent, internet, phone, etc.) This year, I have revenues of about Euros 30,000 euros and by the end of the year it should be Euros 34,000. In the first paragraph of this article (above) you’ll find the requirements for a successful loan application in Germany. “NOW my question is can she get a loan upto 5000 euro with that salary?”. The Optimeo Loan Similar to the Starteo Loan is for companies of four years and over in age. https://www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/. Not known for flashy marketing or risky products, Germany's … Much thanks for your reply in advance. Please have a look at the replies above. Thanks in advance. In any case, this is what applies to our Internet banks. You can see the requirements above. Even though equity is … 5 ultimate advices to get a loan in Germany! Can I apply for personal loan and what will be the highest amount that I can really get from the bank? we are 55 and 62 years old and would like to move to Germany, specifically to Bavaria, in order to live closer to our children. I would like to buy a car. You will find other platforms for brokering loans between private persons. I am being transferred to Germany by company and would like to take both cars with me. This investment, alongside a further €25 million from a leading global asset manager, will support over 2,000 small businesses in Germany … At some banks, it is enough, if one is employed at a company since one month – others want to wait until the end of the probationary period. The DKB is a german bank, which only allocate loans at people who live in Germany. Our web portal specializes in German direct banks, and those only offer real estate financing for people with a residence, income and giro account in Germany. If you go via Smava, you can still make changes to the amount within the online application. Unfortunately, I received a rejection today… I also need to buy a second company car, a bus and now I do not want to make another query, because I do not know, whether this information is registered at the Schufa. This is free for you and you already have a user account, so that not all data has to be entered again. Start from student assistance dept. And plus, she is a huge Schufa fan of u know what I mean she has a bad Schufa entries. We have found a financing specialist in this area. They can advice and help you with possible financial options. Here are some possible ways of obtaining finance: Dont be overwhelmed by the amount of information on obtaining finance. Now, we present the three best ways to obtain a loan in Germany. Do you have any advice of the likelyness of this loan working out or any tips I should know as I start taking the first steps to applying? Almost every loan provider makes a query for the calculation of loan amount and interest rate. It is a fact that only less than 1 % of self-employed have a true chance on a loan payment at the DKB. The respective information page is at this point only available in German: https://www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/. Do you know what formalities are necessary for this type of transaction? Since this amount cannot be earned overnight it’s highly recommended you start saving earlier. I represent a group of private investor located in the United Kingdom and we invest in various fields such as real estate, construction, healthcare, technology, education, financial services and so on. Good creditworthiness = low interest rate. ILona. This can be made very cleverly. Frankfurter Sparkasse is a member of Sparkassen Finanzgruppe and is the 5th largest savings bank in Germany out of 379. Also, would I have to pay any tax or other charges to transfer the money from Germany to the US? Company has account in Commerzbank and is run by staff. The highest probability for a positive loan application is, if you make the loan comparison of Smava, because your financing request is offered to several banks. The easiest would be if he wired the funds to your US account first. Thank you for the nice platform. Your father would have to pay for the wire fees at the German bank and your US bank might charge you for the incoming wire. Often, not only one private person finances the credit request, but several investors pool the money on a „credit project“ together and divide this way the risk (loan loss) and interest rates (profit). I was wondering if I can loan money from DKB or BW bank (lets say 3000 euro) that could be repaid in a year or so from the monthly DAAD income. Buy, build, or expand to meet the needs of your business and customers. German direct banks do not lend money to people living abroad for them to purchase real estate abroad. if I have already taken a loan at the Postbank, could I get or repay my loan at your bank and borrow more money on top? I am an indian, studying masters in germany. Then you have the greatest chance for a credit approval, and better terms as well, since you can choose from several offers. The premises are in the first passage. We supports smart people with projects with high potential who have the courage to work hard and build a functioning company. The monthly mortgage payments will also be deducted from this bank account. Thank you for all the information you have already provided. The question of the conditions also depends on the amount of the loan. Instead of trying financing platforms on the Internet, it would be advisable to cooperate with a specialized finance consultant: https://www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/. I am living and working in Berlin for 5 years now. There are three requirements that must be met in order to obtain a loan in Germany: There are several types of loans that we will present at the end of this article. German banks especially emphasize a regular monthly income. Now when I check a personal loan in banks the Schufa is not approve my application. Now I have a resident permit which is due for renewal this February. Do you earn enough money to live and at the same time pay the rate for a car loan? Please use the comments box to ask questions to our editorial staff …, As a secondary account + overdraft facility, Power of attorney (in German: Bankvollmacht) done in 5 minutes, Overdraft facility without incoming salary transfer. So, do I have the chances of a loan in the amount of Euros 10,000 to 20,000 that won’t have a negative impact on the purchase of a new car (if I just get the approval for it…). Whether a bank grants a loan or not depends on the assessment how probable it is that the loan will be repaid without problems. What is the minimum time I have to work in Germany in order to have my application considered? Business is registered in Germany. What do I need to apply for a loan of $150k euros? Therefore, we cannot give you any better advice than to … I read in the Finanztest 12/2016 that one can apply for a private loan being self-employed or a freelancer. PS: If you speak German a little, there is perhaps still a possibility … we have had some queries from German people, who live and work abroad and want to finance a real estate in Germany. I have a current account at the Postbank and the money should be debited from this account, but it was not funded. In Great Britain, this form of bridging financing is used successfully since some time now and is accepted gratefully by people, who want to borrow a smaller amount until the next salary payment. I need a private loan of $ 5,000! Some client wants to pay by Letter of credit but current bank refused to finance. I am not an EU citizen, but have permanent residence permit as I am married and have a child in Germany, however I work remotely for the same company I have been working for over 3 years, American company with base in London (where I used to live), I do not have any financial record in Germany besides a bank account. Perhaps one or two banks will accept to grant you a loan. and also can provide all my details about my regular income, it`s just happen to arrive to a foreign EUR account required by me employer. With our "one product strategy", better processes and interfaces we try to give people a helping hand and give them a little hope when all the others do not help anymore! 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