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Free use

Free use

Free use

Free use

Free use

Free use

Applying for a loan at mcmoney in 3 steps

From data entry to credit approval in just a few clicks – that’s what our online application offers you. Here’s how to do it:  

Enter key data for the desired loan

To receive your personal loan offers, first provide various details about the loan you want. Specify   what you want to use the money for with the intended purpose . You can also specify your preferred loan term and the loan amount here . We can use this information to determine your personal offers. Loans with a wide range of loan amounts are possible via smava – depending on the lender, between 1,000 and 120,000 euros. You can also choose the terms flexibly (usually between 12 and 120 months). You can also enter a second borrower here. This can be a great advantage for the approval of the loan application if, for example, the loan amount is large. This is because additional income offers the bank more security.

Enter key data for the desired loan

To receive your personal loan offers, first provide various details about the loan you want. Specify   what you want to use the money for with the intended purpose . You can also specify your preferred loan term and the loan amount here . We can use this information to determine your personal offers. Loans with a wide range of loan amounts are possible via smava – depending on the lender, between 1,000 and 120,000 euros. You can also choose the terms flexibly (usually between 12 and 120 months). You can also enter a second borrower here. This can be a great advantage for the approval of the loan application if, for example, the loan amount is large. This is because additional income offers the bank more security.

Receive loan offers & complete loan application

To receive your personal loan offers, first provide various details about the loan you want. Specify   what you want to use the money for with the intended purpose . You can also specify your preferred loan term and the loan amount here . We can use this information to determine your personal offers. Loans with a wide range of loan amounts are possible via smava – depending on the lender, between 1,000 and 120,000 euros. You can also choose the terms flexibly (usually between 12 and 120 months). You can also enter a second borrower here. This can be a great advantage for the approval of the loan application if, for example, the loan amount is large. This is because additional income offers the bank more security.

Calculation your loan

Monthly Rate
Loan amount
Duration
30,000
500
120,000
84
12
120
3.6
0.68
10
304.84
50
3,000
84
12
120
3.6
0.68
10
30,000
500
120,000
304.84
50
3,000
3.6
0.68
10
33,983.33
3,983.33
404.56
To the loan comparison
Repayment plan
YearInstallment payment paInterest costsRepaymentBalance
14,924.661,080.003,844.6626,155.34
24,924.66941.593,983.0722,172.27
34,924.66798.204,126.4618,045.81
44,924.66649.654,275.0113,770.8
54,924.66495.754,428.919,341.89
64,924.66336.314,588.354,753.53
74,924.66171.134,753.530

Calculation examples

The table illustrates how the loan amount, loan term and the effective annual interest rate can affect the loan costs. Ultimately, however, the lender and your financial situation determine how high the effective annual interest rate, the monthly rate and therefore the total interest expense actually are. Our sample calculations are therefore intended to provide an initial orientation. For specific offers, simply use the online application.
Net loan amount Duration (months) Effective annual interest rate Monthly Rate Total interest expense
25,000 EUR 72 4.5% 396,85 EUR 3573,25 EUR
25,000 EUR 72 4.5% 396,85 EUR 3573,25 EUR
25,000 EUR 72 4.5% 396,85 EUR 3573,25 EUR
25,000 EUR 72 4.5% 396,85 EUR 3573,25 EUR

Not every bank passes on the base rate increase to borrowers. The interest costs incurred on a loan therefore depend heavily on which bank you go to. According to the Bundesbank, anyone who simply goes to a bank pays an average of around 8 percent interest. However, there are still loans with significantly lower interest rates. Depending on the loan, this can mean several hundred or thousand euros more or less. A bank comparison helps you find the right bank.

Alexander Artopé CEO of smava GmbH

Your benefits at a glance

Experience and competence

mcmoney has been specializing in loans for more than 10 years. During this time, the company has already received several awards – including „Best Loan Portal“ (2017) and „Fairest Loan Provider in Germany“ (2017). In addition, all of our loan specialists have completed in-depth training and can therefore provide you with competent advice.

Security

Just like all lenders, smava, as a credit broker, is subject to banking secrecy. In addition, TÜV Saarland checks compliance with the applicable data protection regulations every year. In addition, certified SSL encryption ensures seamless data transmission. In addition, your information is used exclusively for your loan application and is not passed on to third parties.

Experience and competence

mcmoney has been specializing in loans for more than 10 years. During this time, the company has already received several awards – including „Best Loan Portal“ (2017) and „Fairest Loan Provider in Germany“ (2017). In addition, all of our loan specialists have completed in-depth training and can therefore provide you with competent advice.

Security

Just like all lenders, smava, as a credit broker, is subject to banking secrecy. In addition, TÜV Saarland checks compliance with the applicable data protection regulations every year. In addition, certified SSL encryption ensures seamless data transmission. In addition, your information is used exclusively for your loan application and is not passed on to third parties.

Experience and competence

mcmoney has been specializing in loans for more than 10 years. During this time, the company has already received several awards – including „Best Loan Portal“ (2017) and „Fairest Loan Provider in Germany“ (2017). In addition, all of our loan specialists have completed in-depth training and can therefore provide you with competent advice.

Security

Just like all lenders, smava, as a credit broker, is subject to banking secrecy. In addition, TÜV Saarland checks compliance with the applicable data protection regulations every year. In addition, certified SSL encryption ensures seamless data transmission. In addition, your information is used exclusively for your loan application and is not passed on to third parties.

Reasons for mcmoney

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

The smava loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

SCHUFA-neutral & non-binding

SCHUFA-neutral

The mcmoney loan comparison has no influence on your Schufa score. With smava you can compare loans without any obligation.

What our customers say

Information on the application process

Legitimation at the post office

You can use the Post-Ident procedure for verification, i.e. confirmation of your identity to the lender. Simply go to the nearest post office. The responsible employee on site will then check your loan documents, the Post-Ident coupon contained therein and your valid photo ID. A confirmation will then be sent immediately to the lending bank.

Upload documents online

Thanks to our digital application process, you can easily upload the documents required for your loan online. Most smava partners offer this so-called document upload in order to process and pay out loans even faster. Simply scan the documents or take a photo of them and upload them as a file.

Confirm identity via video call

The entire process from comparing different loan offers to taking out the loan can be done online. This means you don’t have to visit a bank branch. Instead, after completing the online application, you will receive an overview of different offers for a car loan. This way, you can compare without obligation and take out the right offer from the comfort of your own home.

Qualified electronic signature (QES)

By specifying a purpose, you can benefit from low interest rates on your car loan. The bank can register the vehicle as security and sell it if you default on payment. The proceeds can then be used to pay off the outstanding loan costs . This is why the terms for a car loan are more favorable than for a loan without a specific purpose.

Documents required for a loan

Which documents are required to check the requirements varies depending on the lender. What applies to your loan is stated in your loan agreement. In many cases, however, the following evidence is required:

Requirements for taking out a loan

The lender who provides you with the money must be able to assume with a high degree of probability that you will repay the loan in accordance with the contract. Therefore, a number of criteria must be met. Some of these are prescribed by law, because ultimately they protect not only the banks, but also the borrower themselves. Others vary depending on the bank. These are the most important conditions:

info

Notice
Creditworthiness is determined using a so-called credit score from various credit agencies (e.g. SCHUFA) and passed on to the lender. This is less about your actual account balance and more about a balanced relationship between income and expenditure. In addition, past payment behavior plays a role in creditworthiness: Those who have always paid their bills regularly and in full will generally have a good credit score.

If German is not your native language

Our customer advisors do not only speak German. Many of them are native speakers of other languages.

In addition, you will find the most important information about online loans with smava on the pages linked below in your preferred language – a click on the respective flag will take you directly there.

Purposes for your online loan

Car

If you want to finance a car, a motorcycle or another vehicle, the lending partners often grant particularly favorable loans. This is because lenders take a lower financial risk with this type of financing, as the vehicle serves as collateral. The vehicle registration document is retained by the banks.

Offer comparison

The starting position for self-employed people or entrepreneurs is fundamentally different from that of a private individual. smava has adapted to the special needs with certain lending partners. We can therefore offer this target group suitable and affordable commercial loans.

Reside

Even if you specify „housing“ as the purpose of your online loan, our banks and partners usually offer a low interest rate. It is important that the loan is used in such a way that it maintains or increases the value of your property. This ultimately leads to better conditions and therefore to a cheaper loan.

Debt restructuring

The starting position for self-employed people or entrepreneurs is fundamentally different from that of a private individual. smava has adapted to the special needs with certain lending partners. We can therefore offer this target group suitable and affordable commercial loans.

Free use

Even if you specify „housing“ as the purpose of your online loan, our banks and partners usually offer a low interest rate. It is important that the loan is used in such a way that it maintains or increases the value of your property. This ultimately leads to better conditions and therefore to a cheaper loan.

Special features of individual credit classes

Cash discount

If you take out dealer-independent car financing , you not only benefit from good conditions. You can use the loan amount to pay for your dream car straight away at the dealer and benefit from a cash discount. This is often between 10 and 20 percent.

Car loan at top interest rates

With a dealer-independent car loan, you often get better conditions. Another big advantage is that you can compare different car financing options in advance. This way, you can find an offer that suits your requirements and offers favorable interest rates.

Take out a car loan at home

The entire process from comparing different loan offers to taking out the loan can be done online. This means you don’t have to visit a bank branch. Instead, after completing the online application, you will receive an overview of different offers for a car loan. This way, you can compare without obligation and take out the right offer from the comfort of your own home.

Earmarking enables low interest rates

By specifying a purpose, you can benefit from low interest rates on your car loan. The bank can register the vehicle as security and sell it if you default on payment. The proceeds can then be used to pay off the outstanding loan costs . This is why the terms for a car loan are more favorable than for a loan without a specific purpose.

The most important questions and answers about credit

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Our banks and partners usually only grant car loans for amounts starting at 1,000 euros. The maximum amount for car loans via our loan comparison is often 50,000 euros – some lenders also offer higher amounts.

Maximum 48 hours. You will receive your personal loan offers within a very short time. The review of your loan application documents only takes a few working days

Maximum 48 hours. You will receive your personal loan offers within a very short time. The review of your loan application documents only takes a few working days.

The loan request with smava is free of charge.

As a rule, you will be asked for bank statements, proof of salary, self-disclosure and a copy of your ID card. If further documents are required, this will be noted in the respective loan offer.

Tips for a possible reduction in credit costs

Tip 1: Take out the loan as a couple

If the loan application is signed by two people, the probability of approval increases. The reason for this is that the monthly disposable income increases when a second person is added. This improves the loan conditions because the risk of default is reduced for the lender. Our banks and partners often also offer more favorable loan conditions in the form of lower interest rates.

Tip 2: use specific purpose

If you assure the lender that you will only use the requested amount for a contractually agreed purpose, you can save costs. A vehicle or property can serve as a countervalue for the bank. Therefore, state the exact purpose if you are using your loan, for example, to finance a new vehicle or to modernize your own home.

Tip 3: Observe special repayment rights

Special repayments are additional payments that you can make during the term of the loan. However, this requires that such a right is contractually stipulated. Many lenders offer this additional option free of charge, while some banks require you to pay a prepayment penalty. However, since this is limited by law, special repayments are worthwhile in this case too. Because they shorten the term, which means lower overall costs.

Tip 4: Check the need for residual debt insurance

Banks often advertise residual debt insurance that can be taken out for loans. However, this is a voluntary service that does not have to be used. Since such policies incur additional costs, you should check whether they are necessary in advance. Residual debt insurance is less useful, particularly for small loan amounts or short loan terms. Certain professional groups (e.g. civil servants) offer the lender enough security for repayment anyway and can also save themselves such additional insurance.

Written by Quang Dung Ta

Reviewed by mcmoney content team

Written by
Quang Dung Ta

Specialist for installment loans and banking products

Quang-Dung Ta, an experienced banker and senior key account manager at smava, has been working in the financial industry since 2016. Specializing in credit and financial products, he has in-depth knowledge of financial topics. His additional training at smava in the area of ​​installment loans qualifies him to convey practical financial content. His goal is to make complex financial topics understandable and to support readers in making decisions.

Contact: content@mcmoney24.com

Checked by
mcmoney Content Team

editior

The smava content team consists of experienced and competent professionals who carefully and conscientiously inspect and check articles on smava.de before they are published.

Contact: content@mcmoney24.com

Other loan types from smava

smava offers many different types of loans. Whether for a car, debt consolidation or your business – there are cheap loans for every purpose. In addition, our loan offer is aimed at different groups of people. Whether employees, pensioners or trainees – use our loan comparison to find the right loan. Didn’t find what you were looking for on this page? Then you might be interested in:

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