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Which loan are you interested in?

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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

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.

Credit comparison in just 3 steps

With just a few clicks of the mouse, you can compare cheap loan offers that suit you and your project. Use the online loan comparison and get your personal offer overview. Here’s how to do it:

Make a request for conditions

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.

Select your desired loan & complete the loan application

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.

Examples of possible conditions

The table shows possible conditions for a loan of 15,000 euros. The term and effective interest rate vary. This allows you to estimate how different the loan costs can be, depending on the information you provide. How high the effective annual interest rate, the monthly rate and thus the total interest expense actually are in each individual case depends on various factors such as the lender itself or the financial requirements. Therefore, use our online application for specific offers.
Net loan amount Duration (months) Effective annual interest rate Monthly Rate Total interest expense
15,000.00 EUR 84 months 4% 205,03 EUR 2222,70 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

Video: Saving despite rising interest rates

Even if interest rates for loans rise, there are ways to get a cheap loan. Not all banks react in the same way to rising interest rates. This makes it all the more important to compare the individual loan offers. This way you can quickly find out which bank offers a cheap loan. In the video, our loan expert Vivian Schütte gives helpful tips for a cheap loan offer despite the interest rate increase.

Advantages of an online loan comparison

smava specializes in cheap loans and has been providing suitable financing for consumers and businesses since 2007. Compare numerous loan offers from different providers. You are not tied to the opening hours of the bank branches. You also do not have to obtain individual offers yourself, because we take care of that. Start our loan comparison at any time from the comfort of your own home. Our comparison portal also offers the following advantages:

Expert advice

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.

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.

Especially when you are in financial difficulties, it is important to get the loan amount paid out quickly. With an online instant loan, you can complete all the necessary steps up to the loan conclusion online. This means that your loan application is reviewed particularly quickly and if you are approved, the money is transferred directly to your account. This means you do not have to use the expensive overdraft facility offered by your bank.


Quang Dung Ta Specialist for installment loans and banking products

Requirements and documents for a loan

general requirements

There are a few general requirements for granting loans in Germany. If these are met, the lender can assume that the borrower can reliably repay the requested money. It also ensures that the borrower does not overextend himself by taking out a loan. The law thus protects both lending banks and consumers. The following criteria must therefore also be met for our loan comparison:

Required Documents

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.

Conclusion of contract by legitimation

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 and documents for a loan

There are a few general requirements for granting loans in Germany. If these are met, the lender can assume that the borrower can reliably repay the requested money. It also ensures that the borrower does not overextend himself by taking out a loan. The law thus protects both lending banks and consumers. The following criteria must therefore also be met for our loan comparison:

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 smava

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.

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.

McMoney customers report

Information on the application process

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.

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.

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.

Frequently asked questions about car loans

Akkordeon Inhalt

Our loan comparison portal gives you the choice between more than 20 lenders. You can apply for a loan either from a bank or from smava partners who arrange loans from private individuals. So you decide for yourself who you borrow money from.

What interest rate you get, what the maximum loan amount is and how long the loan is repaid depends not least on your own circumstances. It is therefore not possible to say in general terms what conditions are possible. In principle, the amounts range from a few thousand euros to six-figure amounts, depending on the smava partner. The terms can be between 12 and 120 months. The effective interest rate also always depends on the individual case. Interest rates of 3 or 4 percent are quite realistic for installment loans, depending on your income.

Those who are self-employed or freelance usually have fluctuating income, which is due to the order situation. For lenders, the risk of default is therefore higher than for permanent employees or civil servants, for example. However, our portal offers you a good opportunity to borrow money despite fluctuating income. Some of our partners arrange loans from private individuals. The framework conditions are flexible and the terms can be negotiated individually. The chance of approval is therefore higher for self-employed people than with a conventional bank loan.

An entry in the SCHUFA does not prevent you from borrowing money. Every consumer in Germany has a file with Germany’s largest credit agency. So there is always a score. This can be good, moderate or bad depending on payment behavior. A positive SCHUFA file is characterized, for example, by the consumer paying their bills regularly and not using the overdraft facility at their main bank very often or not at all. Only when the creditworthiness or credit score is below a certain limit will a loan be rejected or financing from service providers not be made possible. With offers via smava, you can borrow money despite a SCHUFA entry – but not without a check by a credit agency. This is because within Germany, every lender is obliged to subject potential borrowers to a credit check.

This is how lenders decide on commitment and conditions

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.

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.

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.

Do you need a cheap loan?

You can find affordable loans for every need using our loan comparison. You can simply submit your application online in just a few clicks.

Information on the application process

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.

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.

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.

Frequently asked questions about car loans

Akkordeon Inhalt

Our loan comparison portal gives you the choice between more than 20 lenders. You can apply for a loan either from a bank or from smava partners who arrange loans from private individuals. So you decide for yourself who you borrow money from.

What interest rate you get, what the maximum loan amount is and how long the loan is repaid depends not least on your own circumstances. It is therefore not possible to say in general terms what conditions are possible. In principle, the amounts range from a few thousand euros to six-figure amounts, depending on the smava partner. The terms can be between 12 and 120 months. The effective interest rate also always depends on the individual case. Interest rates of 3 or 4 percent are quite realistic for installment loans, depending on your income.

Those who are self-employed or freelance usually have fluctuating income, which is due to the order situation. For lenders, the risk of default is therefore higher than for permanent employees or civil servants, for example. However, our portal offers you a good opportunity to borrow money despite fluctuating income. Some of our partners arrange loans from private individuals. The framework conditions are flexible and the terms can be negotiated individually. The chance of approval is therefore higher for self-employed people than with a conventional bank loan.

An entry in the SCHUFA does not prevent you from borrowing money. Every consumer in Germany has a file with Germany’s largest credit agency. So there is always a score. This can be good, moderate or bad depending on payment behavior. A positive SCHUFA file is characterized, for example, by the consumer paying their bills regularly and not using the overdraft facility at their main bank very often or not at all. Only when the creditworthiness or credit score is below a certain limit will a loan be rejected or financing from service providers not be made possible. With offers via smava, you can borrow money despite a SCHUFA entry – but not without a check by a credit agency. This is because within Germany, every lender is obliged to subject potential borrowers to a credit check.

Information on the application process

According to the Deutsche Bundesbank, banks in Germany charged an average effective annual interest rate of 5.82 percent for a consumer loan in 2020. (1) In comparison, anyone who took out a loan from a bank via smava during this period saved an average of more than 35 percent, measured by the effective annual interest rate. (2) Compare loans from more than 20 banks now and find your cheap loan.

  • (1) Source: Deutsche Bundesbank MFI interest rate statistics; interest rates and volumes for new business of German banks / consumer loans to private households in 2020 (effective annual interest rate including costs, as of March 3, 2021) Source: Consumer loans to private households / installment loans
  • (2) Source: smava GmbH effective annual interest rate of all installment loans brokered to banks through the credit portal smava.de and paid out by banks in 2020 (as of March 3, 2021)

Calculation:
Savings = [(average effective annual interest rate via smava (2)) – (average effective annual interest rate according to Deutsche Bundesbank (1))]*100 / (average effective annual interest rate according to Deutsche Bundesbank (1))

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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