On average, over 20,000 loans are granted per day in Germany alone. However, despite this rather large number, many consumers have no idea how to apply for a loan properly. They let themselves be guided by the advertising and the promise that it all works “simply” and “quickly”. In the end, it is not uncommon for the big disappointment to come because the loan offer was too expensive or because the bank simply rejected the loan application. We have therefore put together all the facts that you should definitely consider when applying for a loan. So that in the end you can avail yourself of exactly the loan that you want.

Before applying for a loan

Before you start looking for a suitable loan, you should do a little preparatory work to be satisfied with the result in the end.

The average loan taken out in Germany goes hand in hand with a loan amount of around 8,800 USD. At first glance, that’s not a lot of money. But if it is to be paid back, it quickly becomes clear that this is not so easy.

For you, this means that you should first calculate carefully before applying for the loan. That is, whether your income and the expenses you have to meet each month leave enough space for a credit burden. Keep in mind that you have to pay an installment every month. If you believe the statistics, an average loan contract in Germany has a term of 45 months.

You should also check whether your employment contract is unlimited, the income is significantly above the garnishment allowance and you have no negative entries in the Credit Bureau. You should also have a permanent place of residence in Germany and be over 18 years old. These are all conditions that German banks attach to the granting of a loan.


If you were able to clarify these important framework conditions in advance, the application for a loan is on the program. Here you first have to consider which loan you want and which loan amount is required. If you need the money from the loan at your free disposal, it must become an installment loan. If you are pursuing a specific goal with the money, a dedicated loan can be the best choice. For example, if you want to buy a car or buy new furniture for your home.

You can take out the loan at any local bank branch, on the Internet, at local dealers or on the Internet, at credit brokers or at banks abroad. The latter are always interesting if you want to apply for a loan without asking Credit Bureau.

We recommend that you always first look for suitable loan offers on the Internet. Here you will find comparison calculators that will help you with the selection and show exactly what conditions you can expect for the individual offers. If you wish, you could apply for the loan online. But of course this is up to you.

To apply for the loan, you not only have to fill out a loan application, but also have some supporting documents ready. Firstly, this is your ID card, which confirms your age and address. There are also bank statements and proof of income that prove that your income and expenses leave enough space for a loan. Last but not least, you must agree to Credit Bureau’s query, without which there is unfortunately no credit in Germany.

You can then forward all documents to the bank where you would like to apply for your loan. Then exercise a little patience so that the bank can check your documents and approve the loan. You will usually receive a response to your loan application within a few hours or days. If the answer is positive, the money from the loan will be transferred to your account or paid in cash. Exactly how you want it.

Tip: When filling out the loan application, make sure that all information is complete and true. Otherwise you will not get a loan. If the bank complains about your creditworthiness, it can be helpful to add a second loan applicant or a guarantor. This improves your credit rating and increases the chances of getting a loan. If you want to apply for a loan that has a long term, then make sure that an early transfer and free special payments are agreed in the loan agreement. This enables you to reschedule if you find a better loan offer during the repayment.