Your rights in terms of consumer credit

When a borrower signs a contract for a consumer loan, he certainly has obligations to fulfill, but also rights. The rights in a consumer credit apply before the signing of the contract and during the repayment period. These fees are the same for all borrowers.

Consumer credit: The right to information

Consumer credit: The right to information

You have a right to know what information your credit reports contain. By request, you may obtain a free copy from each of the three national credit bureaus  every year. You have a right to know your credit scores.

Before signing a consumer credit contract, the lender must provide the borrower with an offer including all the necessary information on the credit contract:

  • the amount and duration of the loan;
  • the total cost of the loan;
  • the overall effective annual rate (APR);
  • the date of withdrawal and the amount of the monthly payments;
  •  the amount of compensation if there is a delay in payment.

These borrowing conditions must remain the same for the borrower for a period of 15 days. Once the contract has been signed, the lender must inform the borrower at least once a year of the amount remaining to be repaid.

Consumer credit: Right of withdrawal

Consumer credit: Right of withdrawal

The borrower can choose to retract after signing the contract. This withdrawal must be made within 14 days from the day after the date of subscription of the credit. If the borrowed amount has already been paid, the borrower must return it without paying any compensation.

Notice of withdrawal can be given in any way and, if the consumer does withdraw, he must repay the credit and any interest that has accrued for the time that he has had the credit within 30 days.

Consumer credit: Right to refund

Consumer credit: Right to refund

The borrower can have recourse to insurance to alleviate any problem of repayment of his consumer credit, in particular in the event of death or disability. He is free to choose the insurance of his choice. If the borrower encounters financial difficulties, he can ask a magistrate to suspend his credit. The judge can then decide to modify the installment or to lower the interest rate for a time. It is also possible for the borrower to repay the credit in full, in advance, before the end of the credit contract.

Mortgage loan – what is it?


In the case of serious problems with repayment of debt, debtors often cannot count on the help of banks. These institutions will certainly not grant them a loan that will allow them to consolidate their liabilities. In the described situation, a debt relief loan or consolidation-debt relief loan may be a possible solution to the problem.

It is offered by numerous companies from the non-banking sector. Many such enterprises specialize in servicing clients who have problems related to bailiff seizures and history in the register.

A mortgage loan may prove to be the last resort

A mortgage loan may prove to be the last resort

Non-bank companies apply different rules for granting debt relief loans. Despite this, you can indicate several features that are typical of the described financial products. It meets the requirements of the Consumer Credit Act. Therefore, people using remediation can count on special legal protection. One of its manifestations is the possibility of withdrawing from the concluded contract within 14 days. In this situation, the customer will only bear the costs associated with:

  • interest (calculated in proportion to the period of actual borrowing of funds),
  • administrative and notary fees.

In practice, each debt relief loan operates on the basis of debt consolidation. The company offering such a product repays the customer’s commitments or transfers money directly to the account of the person concerned. This procedure contributes to the reduction of monthly installments. Its side effect is an increase in the total sum of costs related to interest, commissions and fees.

When deciding to obtain the described loan, you should allocate the money to the purpose specified in the contract. This is to settle arrears. Otherwise, it may lead to the creation of credit loop.

Additional security is always welcome

Additional security is always welcome

It is worth adding that the companies granting retirement loans bear a very high risk related to the insolvency of their clients. Therefore, the costs of such a loan can be very high. Due to the statutory maximum interest rate limit (currently 16.00% per annum), lenders compensate their financial risk with additional fees, commissions or collateral.

People with real estate or mobility can present them as collateral, which allows reducing the cost of the loan. However, you should remember to read the signed contract carefully and make sure that all entries comply with the law. When obtaining a repayment loan, you need to be much more cautious than with ordinary loans.

Credit with instant approval: Secure cheap offers now

How to get a loan with immediate approval

How to get a loan with immediate approval

  • Instant approval: With an instant approval loan, you will receive feedback within a few minutes as to whether you are creditworthy or not.
  • Online loan: To get a loan quickly, it is worth applying for an online loan. This is usually cheaper than a branch bank and processing can also be done faster.
  • Have documents ready : Despite immediate approval, the bank will request documents, such as proof of salary, from you. Have these documents ready for quick processing.

In some cases it just has to be quick. A broken smartphone, a craftsman’s bill or an overdrawn account. If you are in dire need of money, a loan with an instant confirmation can be the right solution.

The loan is approved immediately within a few minutes.

In the case of an instant loan, the bank will give you information within a few minutes as to whether the loan will be approved or not. This is usually particularly quick with a small loan.

The immediate acceptance is usually done electronically by checking various parameters and querying the Credit Bureau score. After the exam, you already know whether you are fundamentally creditworthy. However, the promise is usually provisional until further examination.

How to apply for a loan with immediate approval

How to apply for a loan with immediate approval

Nowadays, a loan with immediate approval can be applied for conveniently and easily directly from home. After a few minutes you will find out whether you are creditworthy or not. If everything fits, the money will be in your account in a few days. The best way to apply for this loan is as follows:

1. Credit comparison

In the first step, you use our online comparison calculator to determine the best loan offer for your case. Such a loan comparison can save you several hundred USD if you choose the cheapest provider. All you have to do is enter the loan amount, usage and loan term. It is not yet necessary to enter further personal data. Immediately afterwards you will receive various offers from different banks and you can choose the best offer from the list.

2. Apply for a loan

If you have found the cheapest provider for your loan when comparing loans, you can apply directly to the respective bank online. At the same time, a credit check is carried out and you receive a preliminary acceptance or rejection. In order to apply for a loan, you must enter your personal data and provide information on your income situation.

3. Submit documents

After the loan application, you will usually receive a preliminary approval. However, the bank reserves the right to examine further documents. This includes, for example, pay slips or bank statements. You must also submit the originally signed application to the bank and carry out an identification procedure. However, this can also be done directly online in just a few steps.

4. Wait for withdrawal

In the best case, after checking your documents, you will receive the information that your loan has been released for payment. Now it will not be long before the money is in your account. It is best to set up a standing order to repay the installments.

Compare loans now

The online loan with instant approval

The online loan with instant approval

As a rule, it is worthwhile to request a loan with an instant approval directly online instead of going to a branch bank. Online loans are usually much cheaper than loans from a branch bank. The processing can usually be done faster.

Another advantage is that you can carry out a credit comparison online without any problems, where you can get several offers from various banks and choose the cheap offer. However, a branch bank can usually only offer you one.

The processing of online credit is mostly digital. You submit your application completely paperless. You upload all necessary documents by upload and carry out a video identification.

When is the payment made?

When is the payment made?

Basically, one has to differentiate between an immediate commitment and an immediate payment. With immediate acceptance, you will receive feedback from the bank within a few minutes as to whether you are creditworthy.

However, the commitment is usually only preliminary, as the bank may want to check other documents such as pay slips and bank statements. As soon as these have been checked, payment will be made within a few days. It is best to have all documents ready so that processing can be carried out quickly.

Most instant credit means that the money is in your account within minutes. This is often used to advertise, but this is only possible to a limited extent. A normal transfer alone can take up to 2 days. In addition, there is a credit check, which also takes some time.

In such a case, overdraft is a faster method than a classic loan. So an overdraft on your account, insofar as this is granted to you. If the overdraft facility is already exhausted or not activated at all, the bank can also approve a “tolerated overdraft”. This is the fastest way to get money.

What are the requirements?

What are the requirements?

Anyone who is of legal age, has a residence and account in Germany and has a regular income and creditworthiness can apply for a loan with an immediate approval. Creditworthiness is a very important criterion for banks, because they want to avoid default on payments under all circumstances.

Credit Bureau information
For most loan applications, the applicant’s Credit Bureau Score is almost always requested electronically. This score (0 – 100) is a summary of your creditworthiness and gives the bank relatively quick information about your profitability. If this score is too low, there will probably be a rejection without further conditions being checked.

Regular income
If you want to have a loan, you have to be able to show the bank a regular income. No matter whether you are employed or self-employed. For employees, this is usually done via the pay slip and for self-employed persons via the BWA.

In addition to Credit Bureau and income, your basic creditworthiness must also fit. Perhaps you already have too many loans or excessive household expenses. Then the bank’s risk may also be too high.

So that your loan can be processed as quickly as possible, it is best to have all documents in digital form. This includes pay slips or BWA and, in individual cases, account statements. Depending on the bank, the documents are checked somewhat differently. So be well prepared.


Want to Apply for a Credit Card? This is the Easy Way

Having a fixed monthly income will facilitate you in the process of applying for a credit card. Banks will more easily calculate your financial capability if you have a fixed income. If you are an employee, the process of applying for a credit card will be easier because besides you have a fixed income, your address is clearly printed on the paycheck and the bank can easily conduct a survey.


Fill out the Submission Form Clearly and Honestly

credit cards

The steps that must be taken to apply for a credit card is to fill out the submission form. This form contains your personal and financial information. All of this must be filled in clearly, completely and honestly because if the form is not filled in accordance with the wishes of the bank, then the possibility of your submission will be accepted is small. Never lie in filling out forms, because if you find out it will be increasingly difficult to apply again.


Apply at the Mall

Apply at the Mall

The process of applying for a credit card will be easier if done at the mall booth because each marketing will get a commission for each new customer. Therefore they will be happy to guide you so that you are less likely to make a misstep.

After knowing how, you also need to know what to watch for when you want to start the process of applying for a credit card. Here are some things that need to be known.

Documents that need to be met to apply for a credit card, ie

1. Photocopy of identification (KTP / SIM / Passport)

2. Photocopy of NPWP

3. Photocopy of family card

4. Original salary slip


Types of Credit Cards

Credit Cards

Another thing you need to know before applying for a credit card is the types of credit cards. There are several types of credit cards that are divided based on the limit, viz

1. Silver / Regular

This silver or regular credit card is the most basic type. Users are those who have an income of under 5 million dollars per month. This type of credit card has a maximum limit of around 5 million dollars. The targets of this type of credit card are employees, civil servants, beginner professionals, and young entrepreneurs. The silver card has the cheapest fees.

2. Gold

This gold credit card is a type of card one level higher than silver or regular cards. Silver card owners who have good transactions and payments will usually get offers to upgrade to a gold card automatically. This type of card has a limit of more than 5 million dollars. And the owner of this card must have an income of around 5-10 million dollars per month. Gold type cards have higher fees than silver.

3. Platinum

Platinum cards are the topmost caste of credit cards. The target of this type of card is the upper middle segment, such as bosses, civil servants, office heads, entrepreneurs, professionals. Many advantages are given by platinum cards that are not owned by other types of cards, such as airport lounges, etc. The owner of this type of card generally has an income of more than 10 million dollars. The limit is the biggest compared to the others, which is around hundreds of millions of dollars and the fees are also the most expensive.

4. Specials

The credit card that cooperates with the merchant and produces the special merchant edition card. Usually these cards have special promotions and programs on cards with certain merchants. The fees of this card vary according to the specified limit.

This is a glimpse of information about how to apply, general requirements, and types of credit cards. Hope this helps you in applying for a credit card. Good luck!

Loans without credit Bureau for low earners

What do you have to take into account with Loans Without Credit Bureau for low earners?

What do you have to take into account with Loans Without Credit Bureau for low earners?

First of all, the repayment rates of the loan should be as small as possible. You shouldn’t expect more than you can actually carry. The most important thing of good financing is favorable interest rates and good conditions. Many borrowers want the most flexible loan possible. This includes special repayments without additional costs or the possibility of being able to stop the repayment for a month. If financing contains all of these things, then it is definitely recommended for Loans Without Credit Bureau for low earners.

However, there are a few points that you have to consider so that there are no obstacles to your financing as a self-employed person, pensioner, student, unemployed, trainee or employee:

1. Only borrow as much money as is de facto needed

In principle, the following must be considered when planning in relation to the subject of credit without Credit Bureau for low-income earners. Make a list of all expenses beforehand, then you are always on the safe side and do not experience any unpleasant surprises afterwards. Taking a small financial cushion into account would undoubtedly not be wrong – too large a buffer, however, leads to unnecessarily high liabilities. The credit required should not exceed the specified framework, if possible. It is better to compensate for the under-calculated need for funds with follow-up or top-up financing.

2. Structure and monitor your finances

The top priority for a planned project is to correctly assess your financial situation and then calculate the amount of the loan. Ultimately, this does not apply to the subject of credit without Credit Bureau for low-income earners. Here, for example, a precise weekly breakdown of your own costs helps: Every day it is noted exactly what things have been spent on how much money. Small amounts, such as morning coffee at the bakery or beer after work in the pub, should also be taken into account in order to uncover hidden expenses. This has the useful effect that it can be assessed on the one hand where there may still be savings potential and on the other hand the optimal repayment rate can be estimated fairly precisely.

3. Be precise, careful and absolutely honest

It is important to be correct, honest and careful with all information about your creditworthiness and your own financial situation – especially when it comes to credit without Credit Bureau for low earners, with all information about your creditworthiness and your own financial situation carefully, exactly and absolutely honestly. You should take enough time to compile all the evidence and documents. In this way, you convey a serious picture of your finances. This in turn increases your chances of being granted an instant loan or an emergency loan.

A qualified loan broker can do a lot for you

A qualified loan broker can do a lot for you

The intermediary will mainly support you in finding a foreign or German bank for a suitable “loan without Credit Bureau”. However, the activity often goes beyond mere mediation and is expanded by debt advice. An experienced broker will advise you on the financing offer, show you the advantages and disadvantages and help you compile the documents for the loan despite Credit Bureau application.

Advantages and disadvantages of loan brokerage

Advantages and disadvantages of loan brokerage


  • Detailed advice before submitting the application
  • Help with compiling the documents for the loan application
  • Contacts with lesser known institutions and banks
  • Aid for argumentation in the event of unfortunate personal circumstances or high financing amounts
  • Good chances of cheap loan interest
  • Mediation of loans even with poor credit ratings


  • Risk of procuring loans that are too expensive
  • Doubtful offers are not always immediately recognizable
  • Possible costs of brokering credit

Since numerous brokers maintain good contacts with lesser-known banks, there is a high probability of negotiating favorable conditions for Loans Without Credit Bureau for low-income earners. Even negotiations in difficult conditions are quite possible. Good personal connections to small institutes pay off in such a way that the intermediary can, for example, declare a Credit Bureau entry. Then the entry in terms of creditworthiness is not as important as at a large bank, where lending is mostly automated. In contrast, with normal banks, a loan application for Loans Without Credit Bureau is usually a hopeless undertaking for low-wage earners.

This is how you can distinguish between serious and dubious credit intermediaries

This is how you can distinguish between serious and dubious credit intermediaries

A mediator who is reputable will always act in your interest when it comes to Loans Without Credit Bureau for low earners. As a rule, he does not charge you any expenses or advance payments for his services, because he receives his commission from the bank.

You can recognize a reputable credit broker by the following four criteria:

  • You will receive specific information on target and effective interest, terms and loan amount
  • You do not pay any funding fees
  • The agent has an Internet presence including contact options, imprint and address
  • When you call, you can actually reach someone who gives a serious impression

The factors of a dubious mediator

  • Demanding a fee for the consultation and regardless of the conclusion of the loan agreement
  • You will be promised a 100 percent loan approval
  • Credit applications are sent cash on delivery
  • Offers in the form of a financial restructuring
  • Unregistered home visit
  • A residual debt insurance must be taken out in connection with the financing
  • Calculation of expenses or additional costs
  • They are urged to sign the agency contract

Foreign credit institutions – a good option for Loans Without Credit Bureau for low earners

Foreign credit institutions - a good option for Loans Without Credit Bureau for low earners

The financing of larger projects by foreign financial institutions is becoming increasingly popular. This is not just about a new mobile pedestal or a planned vacation trip, but also {the start-up capital for building a livelihood}. In addition to the normal route to a domestic bank, consumers have now also discovered the Internet to take out a loan from a foreign bank that is tailored exactly to their needs. The big advantage of this is that the guidelines for granting a loan at foreign credit institutions are not as strict as ours in Germany. Poor creditworthiness or a negative entry in Credit Bureau are therefore not so important for low-income earners without Loans without Credit Bureau. Such online loans are generally granted by Swiss banks. This could be an interesting alternative for consumers who need a financial injection particularly quickly but have already been rejected by a German bank. These include, for example, probationary workers, the self-employed, students, the unemployed, trainees or pensioners. It is obvious that this group in particular has a hard time for low-income earners when it comes to credit without Credit Bureau.

The benefits of a Swiss loan

Individuals with money problems often have no way of getting a loan. With poor creditworthiness or debts, the chance of financing is significantly reduced. In such a case, a Swiss loan would be a sensible option. It means a loan from a Swiss bank. Since such banks do not carry out Credit Bureau queries, this reason does not play a role in lending. This is an invaluable advantage, especially when it comes to credit without Credit Bureau for low-income earners.

Clearly, you cannot get a loan from Swiss financial institutions without checking the creditworthiness and various proof of income and collateral. If it is an entry in Credit Bureau alone that worries you about financing, the Swiss loan could be a realistic chance for you, provided your credit rating is in order.

Credit without Credit Bureau for low-income earners: how it works

In the event that you are looking for Loans Without Credit Bureau online for low-income earners, you are probably thinking of a “loan despite Credit Bureau”, or “despite moderate creditworthiness”. The creditworthiness is nevertheless checked equally by all well-known credit banks. Because apart from the Credit Bureau, there are other credit agencies that offer such a service.

At the largest credit agency in Germany, Credit Bureau, everyone has scoring. In the event that you own a credit card or have an account with the bank or savings bank, a corresponding credit rating has already been created for you. You don’t get a “loan without Credit Bureau” at {a financial institution}. However, what could work is a “loan despite Credit Bureau entry”. Fortunately, most of the entries made by consumers are positive at Credit Bureau. Nevertheless, some people suspect that they have a “negative Credit Bureau entry”

It is best to determine in advance whether your score (the so-called credit score) is indeed so poor that it could be difficult to approve your loan application with a bank. Incidentally, you can conduct a free query of the “Credit Bureau Score” once a year at Credit Bureau. If you want to find out what personal data is stored with the credit reporting agency, you can obtain self-disclosure from the credit reporting agency since 2010. You are normally entitled to this information free of charge once a year in accordance with Section 34 of the Federal Data Protection Act (BDSG). What factors include the information that you can query at “MeineCredit Bureau”? Above all, your own score (Credit Bureau score), but also who has made a request about you in the past few months. Your score is based on different “ratings”, which are somewhere between 1 and 100. The higher this value, the better the creditworthiness is assessed. 100 is the maximum value and indicates that the probability of failure is extremely low. On the other hand, if someone only has a score of 50, for example, Credit Bureau assumes that payment defaults may occur.

Our tip: This is how you can “delete a negative Credit Bureau entry”

An invoice has to be paid and you overlook the fact that you have to pay it on time. There can be various reasons for this: You were currently in a financial bottleneck, were on vacation at the time, or have moved to a new address. Even a cell phone bill that was forgotten to be paid on time can sometimes cause problems. The loan application that was made is rejected due to a negative Credit Bureau. It therefore has an impact on the application for a loan if the scorecard is reduced due to reminders or payment requests.

However, every consumer can have a disadvantageous Credit Bureau entry removed for his protection. Due to the extensive data volume and the wealth of information, there is also the possibility that the information stored at Credit Bureau may be outdated or incorrect. Such entries should of course definitely be eliminated immediately. The deletion can be ordered directly from the credit agency. The condition for removal is that the claim was settled within 6 weeks and does not exceed USD 2,000.

Your data at Credit Bureau – deletion of Credit Bureau data

The Credit Bureau data will be automatically eliminated after a certain time without any action on your part. This happens for example with:

  • after 12 months for information about inquiries; This information will only be passed on to contractual partners of Credit Bureau within ten days
  • for loans to the day, 36 months after the year of the full repayment of the loan
  • for reports on unpaid claims, each after a period of three full calendar years (that is, at the end of December 31 of the third calendar year that follows the storage)
  • for online or mail order purchases, if the claims have now been paid

The benefits of a Swiss loan

It is often difficult for a private individual who is in a financial emergency to obtain a loan. Financing is made considerably more difficult due to poor creditworthiness or debts. In such a case, a so-called “Swiss loan” would be a sensible option. It means a loan from a Swiss financial service provider. Credit Bureau queries are generally not carried out by such institutions, which makes it considerably easier to get the loan. When it comes to low-income credit without Credit Bureau, this is an invaluable benefit.

Of course, even with Swiss institutions without a creditworthiness check and various proof of income and security, you cannot take out a loan. With an acceptable credit rating, Swiss credit is a realistic option for Loans Without Credit Bureau for low earners, even if you have a negative entry in Credit Bureau.

What is the “APR”

Significant for credit Without Credit Bureau for low earners is the “effective annual interest rate”, which is also referred to as the “effective annual interest rate”. The “annual percentage rate” quantifies the annual loan costs related to the nominal loan amount. It is performed with a fixed percentage of the payment amount. There are loans whose interest rate is flexible or variable, which means that they can change during the term of the loan. This is then called the “effective annual percentage rate”

A fixed borrowing rate is agreed upon for the entire term of the loan when a loan is taken out. In plain language, this means that the nominal interest rate on which the “loan” is based remains unaffected, regardless of the trend on the capital markets. For you as a loan customer, a fixed borrowing rate has the advantage that you do not have to be afraid of rising loan interest rates. So you can be sure that the interest rate on the “loan amount” will not become more expensive during the entire term.

What does the loan term mean

What does the loan term mean

A loan can have very different repayment terms, which are primarily defined by the term of the loan that the borrower chooses. In other words, the borrower will have to pay lower monthly installments if the “loan term” is longer than if he chooses a short-term loan. Deciding accordingly various options regarding the loan term can therefore definitely have advantages. Make sure that not all maturities are offered for all loans.

The time interval from payment to full repayment or payment of the loan amount is called either the loan term or the loan term. In and of itself, the duration depends on both the amount of the nominal interest and the repayment. In particular, the repayment rate has a significant meaning for the term. If the individual monthly installments are low, the full repayment of the loan or loan amount, including any processing fees, will of course take a relatively long time. If loans run for five years or more, they are called long-term loans.

What are loan fees

What are loan fees

Loan fees are sometimes also called closing fees, processing fees, loan processing fees or processing commission. These are costs that the financial institution was allowed to charge for a loan request or processing the application for a loan. In May 2014, an amendment to the law was then passed in this regard. The calculation of the “loan fee” for preparatory work on a loan request was declared unjustified. This also affects the evaluation of the borrower’s creditworthiness. Since 2014, processing fees depending on the amount of the loan may no longer be required. In general, these costs were approx. 1 – 3 {{percent}} of the loan amount, for example with a loan of USD 10,000 already USD 150 to 450. Processing fees that have already been paid by borrowers for the loan request or application can therefore be reclaimed in many cases.

What is a lender

The lender means a private person or a company that lends money to the borrower or borrower for a certain time at an agreed interest rate. Legislation generally speaks of the “lender”. In this context, one often hears the terms “creditor” or “lender”.

When the lender grants a loan, he therefore charges higher interest due to the considerable repayment risk. The lender can include a savings bank, an insurance company or a bank. The rights and obligations of the borrower are regulated in the Civil Code (BGB).

What is the monthly rate

What is the monthly rate

The repayment of financing, such as “loans with a poor credit rating” is done in the same way as individual monthly installments. A significant component of the monthly installment on loans is the interest rate. The bank calculates the interest rate based on the prices currently calculated for interest in the global capital market. Your customers then pay this interest on their loan with a corresponding surcharge.

Another important criteria for the “monthly installment” of the loans is the amount of the repayment. The size of the borrower determines the repayment rate primarily depends on his income. The repayment is usually for {longer-term financing contracts} 1 {{percent}} annually. If, for example, the loan amount and thus the loan amount are to be repaid in a shorter period of time, the repayment is set higher. It is then clear that, according to the repayment, an increased monthly charge can be expected.

It is mainly the repayment and the interest rate that mainly determine the monthly rate for loans. The processing fee of the banks and brokerage commissions of the credit intermediaries are not infrequently included in the monthly rate, mostly included in the monthly rate. Although these costs are usually already included in the interest rate, they are included as a component of the monthly installment in the total loan amount.

What is a debt rescheduling loan

What is a so-called debt rescheduling loan? This is a loan that someone takes out in order to be able to use a debt rescheduling to compensate a loan with very high interest rates a little cheaper. Debt restructuring also has the positive aspect that it allows you to combine different loans into one. You can therefore disclose more than one loan for debt rescheduling. Logically, for a “debt rescheduling loan” you do not go back to the {credit institution} where you applied for the expensive loan, but to another. In exceptional cases, you can take out the loan for a debt rescheduling from the same bank, provided that this time you are offered a lower interest rate.

The basic advantage of a debt rescheduling loan is undoubtedly that you have a lower financial outlay after you have taken out the new loan. Because even a comparatively minimally cheaper interest rate can help you save money.

What is the total loan amount

The total loan amount includes all fees that are additionally charged by the bank to the bank customer in the case of a loan. It is therefore not exclusively the amount of the loan taken out, but the total amount including all additional costs that the customer repays to the financial institution within the agreed loan term. The pure loan amount increases by any processing costs or commissions as well as the interest rate due. The deviation from the nominal amount of the loan therefore results from the additional fees and expenses.

{Expenses} for residual debt insurance that may be taken out to hedge the loan are also part of the total loan amount.

What is the loan amount

The actual loan amount that the borrower receives after the loan application is released is less than the total amount that he then has to pay back. The amount of the payment can also differ because the “loan amount” may not be paid out in full as a total amount. This also applies to a loan or a “Swiss loan”.

It does not matter whether the borrower is a private person or a commercial company, the credit institution will check the available income or the current earnings situation in any case before approving the application for the loan amount. It doesn’t matter how much the loan amount is de facto. For example, if a loan amount of only USD 600.00 is desired, the bank checks the monthly earnings of the borrower as well as for a loan amount of USD 500,000.00.

There is usually a fixed agreement for the repayment of the monthly installment on the loan amount within a set period of time. These agreements are all in the written loan agreement. In the event that the borrower has the corresponding monthly income, he can also repay the loan amount early with special repayments. If you want to know whether these special repayments are subject to fees or are offered free of charge, you have to check the loan agreement. Once the last installment for the loan amount has been paid, the loan contract also ends automatically. When applying for a loan again, the borrower must submit a new application to the bank.

What are the credit rating criteria

What are the credit rating criteria

It is a common misconception that there is a loan without checking the creditworthiness. The credit rating is based on the result of the credit check, which in turn largely depends on the “credit criteria”. From this, the respective surcharges on the loan are then determined. If the credit rating is positive, comparatively low loan interest is required. If the various factors of the credit check provide a good result, this definitely has considerable advantages for the borrower. The normal credit rating criteria of financial service providers mostly vary from bank to bank. These credit rating criteria apply to every borrower and are almost the same at every bank.

  • What is the monthly earnings?
  • What is the employment relationship like?
  • Is the borrower a contract agent, officer or official?
  • Who’s the employer?
  • Where is the borrower’s place of residence?
  • Are there entries at credit agencies such as Credit Bureau etc.?
  • Does the applicant keep a budget book with a statement of expenditure?
  • Are there assets in the form of buildings or land?
  • What is the marital status?
  • Are there existing guarantees and loans?

These are the prerequisites for Loans Without Credit Bureau for low earners

You have the option for your desired loan to influence the decision of the loan broker to your advantage. However, the following requirements must be met:

  • Legal age
  • German place of residence
  • Account with a domestic financial institution
  • current income
  • sufficient creditworthiness
  • for special-purpose loans, collateral such as real estate or a car

A so-called credit private or private loan, which various credit intermediaries have on offer, can usually be obtained despite a negative credit rating. In this case, however, the loan is not processed through a conventional financial institution, but instead is given to one or more donors under the name “borrow money without Credit Bureau”.

“Loans without Credit Bureau for low earners” – useful recommendations

Never apply for a loan with an unfavorable Credit Bureau or a bad Credit Bureau score, in the event that you are not sure that you will be able to repay it guaranteed. The bank generally has good reasons to reject a loan application.

Remember: The credit institutions rely on the fact that as many of the loans granted as possible are repaid in full, on time and with interest. There is always great interest on the part of financial service providers to grant financing. If an application is now rejected anyway, the analysis of the creditworthiness has shown that the payment behavior has been so poor that a punctual repayment cannot be expected. Sometimes the assessment of creditworthiness also shows that there are insufficient funds or that the minimum income is too low to be able to repay the installments on time until the loan has been fully repaid.

So before you apply for funding such as a “Loan without Credit Bureau”, you should compare your total income with the expenditure as closely as possible. This procedure can be used to determine if there are any problems with the repayment later. You should definitely keep this in mind: There are always surprising events that we did not expect. Our entire financial plan is being thrown into the pile and we can no longer repay the loan on time. That could e.g. B. the defective car, a broken refrigerator or a high postpayment claim by the electricity provider.

If you are clever, you can take advantage of competent advice from your credit advisor for a “Credit Bureau entry credit”. You will receive exactly the help you need, because on the one hand you will receive excellent advice to guarantee that you will find the right offer and on the other hand you will have someone at your side who will impartially assess your financial options if necessary. People who did not inform themselves about a carefree “taking out a loan despite Credit Bureau” often got into a debt trap – with unforeseeable economic consequences. The advice given to the loan broker also includes “debt restructuring despite Credit Bureau”. This means that different loans are combined into a single loan.


What is the maximum age for a mortgage loan?

The maximum age is important in a bank loan, especially when it is a long-term mortgage. It is essentially the age at the end of the loan that will matter, and in particular the duration of repayment chosen by the borrower.

Home loan: up to what age can you borrow?

Home loan: up to what age can you borrow?

Most borrowers will not encounter difficulties in obtaining a home loan until 65 years , it is after that several elements can be taken into account such as in particular the criteria in terms of age of end of loan of banks but also the repayment period , not to mention the cost of insurance which can affect the amount to borrow. For the first criterion, the age at the end of the loan is not a fixed data, it will constantly change according to the criteria of the banks but also according to the lifespan of the person. For this, the banks take into account each year the evolution of the life span to adjust their borrowing conditions.

On average, it takes the repayment of the home loan is completed with the 85 th anniversary , but this age can sometimes be dropped to 90 th birthday. It is not necessarily the age at the end of the loan that will be a problem, it is above all the cost of borrower insurance that will have to be optimized. The more the borrowers age, the more they are exposed to health concerns, which leads to a higher cost with insurers and can sometimes force the senior borrower to revise his acquisition project downward. It is for this reason that soliciting a broker makes it possible to go around the banks to obtain the best conditions.

Compare offers of mortgage for seniors

Compare offers of mortgage for seniors

The senior is a full-fledged borrower, a profile often appreciated by banks , whether they are still active or retired. It is quite possible to become an owner without too much difficulty from the age of 50 , and even at age 60. It is only at the age of 70 that the steps will often be more tedious, and necessarily, it will take a sharper look at the reimbursement conditions that will be offered.

In this case, it is strongly advised to contact a bank intermediary, which is more commonly called a mortgage broker. The latter will be able to study the situation ofthe senior borrower and above all to offer him several offers from banks that can meet his needs.