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What is the money needed for?

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.

These are your advantages on our portal

More than 20 partners and banks

If you want to borrow money through smava, you can see all the affordable offers at a glance with just a few clicks of the mouse – in a single overview and including all the conditions for the respective loan. You immediately have an optimal overview of all the financing options that are exactly right for you and your project. Thanks to the large selection, everyone can find the loan they want.

Save money thanks to exclusive conditions

Anyone who wants to borrow money can save money with smava, because the loan comparison automatically shows you the best deals that we have negotiated with our partners. This means that these offers are only available from smava and from no other provider! Long-term partnerships make these exclusive conditions possible.

to save time

See all the best offers at a glance with just a few clicks of the mouse – it couldn’t be more effective. If you want to borrow money through smava, you save yourself the trip to several branch banks and the time-consuming online search on individual bank websites. Once you have entered your data, you will immediately receive your personal overview of offers. The documents can also be submitted online thanks to the document upload. The same applies to confirming your identity, for which the video identification process can be used.

Competent consulting

If you need help, we are available by phone or email to answer any questions you may have about your loan – free of charge and without obligation. Our experienced loan specialists will not only help you find a suitable and affordable loan , but also compile and submit the necessary documents.

Calculation your loan

500€
120,000 €
12 months
120 months
0.69%
10%
32,062.92 €
381,70 €
2,062.92 €
To the favorable offer

Requirements when borrowing money online

Whether you borrow money from a bank or privately, lenders want to know before you sign the contract how likely it is that the monthly loan installments will be paid on time and in full. In order to be able to assess this as best as possible, various requirements must be met. The specific guidelines vary depending on the lender. However, the following aspects are usually required when granting a loan:

The role of creditworthiness

Creditworthiness (also known as credit rating) is made up of solvency and payment behavior. The latter is usually determined with the help of a credit agency such as SCHUFA. Among other things, it takes into account whether you have always met your debts on time in the past (e.g. loan installments or bills from mail order companies, electricity providers and telecommunications companies). If this is the case and your income-expenditure ratio is positive or balanced, you can prove that you have good creditworthiness. It is also considered positive if the overdraft facility from your main bank remains unused.

McMoney customers report

Borrow money online in just 3 steps

Determine your desired loan

In the first step, you determine how high your personal loan should be and over what period you want to repay the loan. Depending on the financing partner, smava offers loans between 1,000 euros and 120,000 euros. You can also adjust the term to suit your needs. Repayment periods of between 12 and 96 months are usually possible – some lenders also offer 120 months. You then specify what you want to use the money for by specifying the intended purpose. At this point, you can also enter a second borrower to increase the likelihood of your personal loan being accepted.

Enter your own data

In the second step, your personal and financial requirements (including income, job and living situation) and your contact details are requested. Your personal and financial requirements are relevant for the overview of offers for the various private loans. This is because all offers are tailored to your information. This means that you will only be shown loan offers for which you have a chance of being approved.

Select offer & conclude loan agreement

Confirm your request and, with just a few clicks of the mouse, you can view suitable private loan offers that you can apply for directly online. All relevant details (e.g. effective annual interest rate) are displayed for each loan. This way, you can see at a glance where you can save. When it comes to the effective interest rate, it is important to note that this includes not only the nominal interest rate, but also all other costs. This means that you can also compare private loans that are made up of different cost factors. This makes our loan comparison transparent and fair. To take out your private loan, all you have to do is submit your documents and confirm your identity to the lender.

Requirements for loans with immediate approval

In order to be as certain as possible that a borrower can repay the requested instant loan, lenders require certain acceptance criteria. This also protects you as a borrower. Because you are prevented from taking out loans that you cannot repay. These are the general criteria:

Tips for your loan application

Select specific purpose

Anyone who wants to borrow money should check whether it is possible to specify a purpose. For example, when purchasing a car, the purpose of the loan is “car/motorcycle”, because banks offer significantly lower interest rates for  car financing  than for financing without a specific purpose. The background: With a car loan, the vehicle is entered as security in the loan agreement, so that the risk of default is lower. This means that particularly low interest rates can be granted.

With a second solvent borrower, you have significantly more flexibility if you want to borrow money. The background: If there are two people in the loan agreement, the available monthly income is added together. This means that even with only moderate creditworthiness, the probability of acceptance increases, because the available monthly income is a decisive factor in the approval of financing. If two people borrow money together, the borrowers also have the opportunity to repay the financing in a shorter period of time without major problems. This is because a higher monthly rate is possible.

Choose an appropriate term

The choice of term can influence the interest rate offered. Anyone who wants to borrow money for a short period of time will be offered lower interest rates than someone who wants to borrow money over a longer period of time. Statistically speaking, the risk that the borrower will no longer be able to pay off the loan is significantly lower with a short term than with a long term. However, the monthly rate will be correspondingly higher. A good balance should be found between the short term and the amount of the monthly rates – according to your own budget.

Use offers for the self-employed

Self-employed people particularly benefit from the opportunity to borrow money privately from smava. With a loan from private individuals, lenders and borrowers can individually agree on the terms of repayment. Whether and to what extent the borrower’s creditworthiness plays a role in this is something both parties can decide independently of the credit agencies.

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Borrow money from private individuals via smava partners

Anyone who wants to borrow money should check whether it is possible to specify a purpose. For example, when purchasing a car, the purpose of the loan is “car/motorcycle”, because banks offer significantly lower interest rates for  car financing  than for financing without a specific purpose. The background: With a car loan, the vehicle is entered as security in the loan agreement, so that the risk of default is lower. This means that particularly low interest rates can be granted.

With a second solvent borrower, you have significantly more flexibility if you want to borrow money. The background: If there are two people in the loan agreement, the available monthly income is added together. This means that even with only moderate creditworthiness, the probability of acceptance increases, because the available monthly income is a decisive factor in the approval of financing. If two people borrow money together, the borrowers also have the opportunity to repay the financing in a shorter period of time without major problems. This is because a higher monthly rate is possible.

This is what Germans most often borrow money for

The market and opinion research institute Forsa took a closer look for smava and determined what purposes German consumers borrow money for. The result: The cliché that Germans‘ favorite child is their car is true. The most common reason for borrowing money – regardless of whether from a bank or from private individuals through one of our smava partners: car financing (41 percent). This is followed by financing consumer goods (36 percent) and investments in the home (including moving – 16 percent). Then comes debt restructuring (i.e. replacing an expensive loan with a cheaper one – 10 percent) and balancing an expensive overdraft (9 percent). Surprisingly few consumers finance their vacation: only 1 percent of borrowers stated „travel or vacation“ as the reason for financing.

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:

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.

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