Best Personal Finance Blogs for all age groups and regions. I have a German unlimited contract, working in Germany since 18 months and my blue card is valid for 3 more years (of course it can be extended further). Many thanks. Best of luck elsewhere! Apply for credit line through another person? In order to find a favourable provider of car loans, you can use this loan calculator: https://www.deutscheskonto.org/en/loan/car/comparison/ or ask the banks at which you already have a current account. Instead of trying financing platforms on the Internet, it would be advisable to cooperate with a specialized finance consultant: https://www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/. How Smava works, we have prepared for you here in English language: https://www.deutscheskonto.org/en/smava/, Hello, we are 62 and 63 years old and live at the border to Germany, can we apply for a loan (75,000â¬) to buy our house? More German Pavilions in Singapore Trade fairs by country Trade fairs by industry sector. I am an EU citizen, living and working in Germany since 7 years and have a good schufa score. I have done this, but the loan was rejected with the note that this only applied to certain occupational groups. This means that if you fail to repay the loan, the bank cannot even make a salary garnishment (when the additional amount is paid directly from the employer to the bank for the repayment of the loan). It is important for the bank that the loan duration is not longer than your current permit extension. I am iranian refugee living in german for almost 2 years. Did you ever find out the solution to your situation? I would like to buy a car. Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top Home ; Questions ; Tags ; Users ; Unanswered ; How is second income (full-time + freelance) taxed in Germany? Investment. I am interested in applying for a German business loan of about 160.000⬠(it is a restaurant/bar that is already set up with most necessary equipment). Problem is I receive my (EUR) salary to a foreign bank account (this cannot be changed unfortunately), otherwise I am a registered German resident, having German account and direct debits on it (like rent, internet, phone, etc.) It is a fact that only less than 1 % of self-employed have a true chance on a loan payment at the DKB. I have lived in Germany for like 4 years now but I have only worked 3 months because I used to be an immigrant. Our professional and friendly advisers can help you stay on top of your investments and ensure your financial plans remain on track. Sign up to join this community . Of course, it is easier for you, if you move your registered place of residence to Germany before the financing, because most German banks only finance people, who live in Germany. Good luck on other websites! In this case, it is really better that you contact a bank in your own country. I am self-employed since the 1st of October 2018. We report on smart solutions for our readers, but do not provide consultations. Loans for self-employed persons and freelancers in Germany, â 10 reasons for a bank account in Germany, Open the loan calculator with several banks. The purpose of this site is to assist English speaking people IN GERMANY with obtaining installment credits and framework credits. Do I have to have a property there or can I rent one. Last year, my revenues were Euros 28,000 and my income (costs deducted) Euros 16,700. Personal Finance. Social networks Disabling this category of cookies prevents any interaction with social networks. pay a high interest rate for your car loan so far, then it can make sense to reschedule the debt. where to live in europe? This is the background, why Bon-Kredit can also offer âschufa-free credits loansâ. The amount of the loan is transferred to a bank account. We as an external web portal donât have these, and we generally recommend not to restrict the selection to one particular bank right away, but to use the comparison. April is Financial Literacy Month. Which are they? FinTech Personal Finance. Do you know where could I find information regarding the requirements for this kind of loan? Please be sure to answer the question. My question is can the company’s investment loan be refinanced in Germany and what will be the conditions. $3000/month, but comes through the US government, but I do have a contract to stay in Germany working for as long as I choose. Thanks for contributing an answer to Personal Finance & Money Stack Exchange! Hello, please note that with all our German lenders a residence in Germany is neccessary. Trick ⺠How to get a loan up to ⬠5,000 within 24 hours! We cannot say anything about commercial loans, because they are extremely individual and not provided by âourâ online banks. It's so simple that I've broken down the personal finance basics into just 12 quick points. I would be very grateful for any information on what I could do…. Additional overdraft facility? What is Personal Finance? I am sorry that I cannot give you any other answer. But I still want to help you move forward with your financial goals and get your money in order, especially during a global pandemic. 5 ultimate advices to get a loan in Germany! ILona. Is there any possibility in getting car loan? Need your advise. Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. (English speaking), Open an online-current account in Germany ⺠this is possible here â. The DKB is rather a bank for employees, workers and officers. I have account with deutsche bank, I have asked for loan I was refused, I then go through finanaza check which 3 bank send me a offers, Postbank, credit plus and ING DiBa which I sign and send them back I got a reply from ING refused. Everything else is speculation. (no defaults or other loans of course on my credit history in any other countries) Thx. With loans via the DKB your residence, the financed object and ideally also the source of income are supposed to be in Germany. The highest probability for a positive loan application is, if you make the loan comparison of Smava, because your financing request is offered to several banks. Further questions regarding this subject will not be published here anymore. Zorica Lončar 12.12.20 8 minute read. Then you will get a specific financial statement! Here is a special credit calculator for auto financing: https://www.deutscheskonto.org/en/loan/car/comparison/ – but you also could apply for a loan for general use. I am leaving for Germany (from Hungary) to work as a first year resident (medical doctor). Unlike most comparison websites, they do not solely focus on the cheapest product, but on the product that is right for you, ensuring long-term financial security. The best personal finance software on the market does away with the need to rifle through a box of papers, receipts and invoices - a nightmare scenario for anyone. My question is – is it possible to get a German car loan to pay off the loan here and then pay it to the new company in Germany? The best chance for getting a loan â with such an amount, too â is the use of a great tool that checks several banks at the same time. The business has solid/proven cash flows going back several years. This is a good question. What kind of loan should I look for? Apply successfully for a loan in Germany (being an immigrant)!? ZDNet Germany ZDNet Korea ZDNet Japan Microsoft starts rolling out Money in Excel personal finance-management feature. Germany is a top destination for graduate education chosen by students from across Europe and the globe, especially in the field of finance. Is there a way to get a real estate loan at a German bank, also with mortgage, to buy an apartment? Compare consumer loans offered by banks in Germany by loan rates and terms. Meanwhile, there are internet platforms, such as auxmoney.de where private consumers can negotiate loans with private credit granters. German direct banks do not lend money to people living abroad for them to purchase real estate abroad. Please have a look at the replies above. Mint.com Personal Finance est une application gratuite pour les téléphones et tablettes Android et pour iPhone destiné à vous permettre de mieux gérer vos finances. The station operated in partnership with a California public radio affiliate with the same call sign. No, I just want to buy the car from a German dealer. I'm Tracie! So all together is 1650, right? TOP 5 German Personal Loan Providers. Profile Photos (0) Videos (0) Reports (0) Interview Documents (0) Sent Messages Notes. With this income, the chance is really scarce that a bank is of the opinion that the money is enough for living and repaying the loan. In a schufa-free loan, the creditworthiness of the customer is checked, but not through the Schufa-query (credit investigation company). Hello, we are non eu people from Asia living in germany from 4 years working in IT for reputed company. Best of luck with your project. I have a good credit rating. Good luck! Including entering your personal data and the data of your current loan. Hi. Hi, my fiance is a german passport holder and she is working in a bank as office girl and her job is part time (2 hours in a day) but she is working with that company from two years and her salary is 500 euro. In your case, there are unfortunately not many providers left. Okay. I was wondering if I can loan money from DKB or BW bank (lets say 3000 euro) that could be repaid in a year or so from the monthly DAAD income. Now, we present the three best ways to obtain a loan in Germany. Hi – I am originally from the U.S. and living in Germany since 2013. How the short-term loan at Vexcash (Germany’s first and biggest provider of this form of loans) works and to what you should pay attention to in order to have low costs of the loan, we have summarized here: VEXCASH â Money on the same day! Ask the bank, please. thank you for a very clear and informative article. Personal Finance . That is our quality standard for our readers. Open N26 bank account online ⺠all you need to know! Average creditworthiness = higher interest rates. This is usually six months in Germany. EU Personal Finance r/ eupersonalfinance. What are the possibilities for financing? Maybe it would be easier for you to simple keep the old financing. The loan calculation namely considers every changes at the loan granting of banks and is therefore always up to date. Open the business account of the Postbank? Loan comparison specifically for car financing! I am living since 3 years in Germany and work in a company, where I earn Euros 1,000 net income. ð. I am working for the same company for 20 years with a permanent contract from the same employer here in Germany since 2014. For example, if your existing loan is older and has been concluded using a higher interest rate than is used nowadays at a new loan. We do not know any German bank that finances a car for someone abroad, which after buying will stay abroad. As a non-EU citizen, would I be able to get financing against the proven cash flow and, if so, what would be the typical Debt/Equity ratio and Debt Service Coverage ratio that mainstream banks in Germany would be comfortable with. For more information, contact me in private. Is it possible to get loan without a german address? Read our explanation on what you need to look out for and how to apply for it. GERMANY'S furlough or wage subsidy scheme reportedly inspired Rishi Sunak's new furlough plan. I need a private loan of $ 5,000! Simply click on the offer that interests you to learn more about the terms. I have a very question please. Hungary Cetelem Hungary www.cetelem.hu. Opening a bank account in the UK is no longer difficult as it was before. ZDNet Germany ZDNet Korea ZDNet Japan Microsoft starts rolling out Money in Excel personal finance-management feature. I am an expat living and working in Germany. BNP Paribas Personal Finance, Europe’s N°1 for personal credit, and Commerzbank, one of Germany’s leading private banking networks, have decided to renew their successful partnership agreement for major cooperation to jointly develop consumer credit in Germany, the leading personal financing market in Continental Europe. At the beginning of May, I received a Euros 5,000 commercial loan from the Sparkasse and on the 31st of May, I bought a new company car for Euros 27,000 (loan at RCI BANQUE S.A.). Company has account in Commerzbank and is run by staff. Whether that is a good solution in your case, I donât know. Apply now! We cannot do more here than wishing you best of luck for your business! It's so simple that I've broken down the personal finance basics into just 12 quick points. Business partners are retail companies of all sizes, banks and insurance companies. Is it possible that I get a personnel loan of 60000 Eur ? Thank you. State further borrowers â, Advice #3: Apply successfully for a loan: state income completely. The fact alone that the car will be bought from a German dealer, will not be sufficient for a bank in Germany to make it finance this. It only takes a minute to sign up. Lowest loan rate is 1.58%. But here too applies: register first and enter the personal data, otherwise, one cannot provide individual information. The Deutsche Kreditbank (DKB) offers particularly fair loans without additional costs and with a special repayment option (Sondertilgungsmöglichkeit). Laden with real-world examples, tips from industry pros, and step-by-step explanations, plus access to an online financial planner, this thirteenth edition will guide students on the path to personal financial success. at your university. ; Advertising Disabling this category of cookies prevents the collection of information allowing better advertising targeting. we are 55 and 62 years old and would like to move to Germany, specifically to Bavaria, in order to live closer to our children. Thanks so much. A permanent resident person in Germany can guarantee to cover all your expenses; Important Note: The whole process of showing a proof of financial resources to study in Germany may sometimes be different based on your personal case and the country you come from. Advice #5: How to pay lower loan interest than anybody else! If you do hear something about 0% financing in a commercial, then that usually is clever Marketing in order to sell products (like furniture or new cars). As the vehicle provides an additional security for the bank, the interest rate is cheaper in most cases. For example, you apply for Euros 10,000. When somebody has “bad schufa entries”, one does not get accepted for loans, so you are going to have to take care about the financing yourself. It’s not a gift but not really a loan either. I have a cousin in Germany whos address I can use. The DKB is a german bank, which only allocate loans at people who live in Germany. 37. I do not pay for rent as my accommodation is provided free from my employer. I am interested in getting a loan of about 30000 euro, in order to buy property in my country of origin. At some banks, it is enough, if one is employed at a company since one month â others want to wait until the end of the probationary period. Since 3 years, I am operating a business in Germany. In this case, it is really better that you contact a bank in your own country. The highest possible loan amount can only be determined by submitting a loan application and starting with a high amount. Of course, you can also re-negotiate with your current loan provider … everything is better than waiting for the bank to react. Ongoing review service. I have a car export business in Germany but I do not live in Germany. Good luck! Hi, my name is Michael. Am so worried I have been in Germany for over a year working over a year but I have irish passport.please I need help. It is not customary in Germany to award loans for 0%. They can give you a concrete response, since they have your customerâs information. Pensions, property and more. You earn less than the seizure exemption in Germany. I am an American that has been living in Germany for 5 years. Last week, I was at a bank to ask about another loan I need to develop my business (among others to buy the new tools). I get about 1100 Euros a month. This is a good question, thank you very much! The most common form of a bank loan is called consumer credit or also instalment credit. Hi DKB, I am an expat living and working in Germany. This depends a little on how good your current creditworthiness (still) is and how high your current loan interest is. Numbrs Personal Finance AG (formerly known as Centralway Numbrs) is a financial technology company based in Switzerland.The company offers an app called Numbrs that aggregates bank account and credit card information and facilitates mobile banking and personal financial planning.. History. One does not have to provide proof of the use of money to the bank. However, please note that this is not a long-term solution! Can i apply to a German bank for a mortgage on an auction property i wish to purchase in the UK? Ps. Maybe you would like to submit your wish for a credit via this provider. My income is approx. Check our comprehensive guide on how to go about it. Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. Important for any grant of a loan is the residence in Germany, and if possible, the income should come from a source in Germany or at least be deposited on a German giro account in Euro. I am from India. Editions. The usual cost of living is considerably higher. So, is there hope for us after all? i have account in post bank and deutsch bank. I would like to buy property in the US, and my father is willing to take a line of credit on one of his German properties to help me get enough cash for the purchase. Contact us. The respective information page is at this point only available in German: https://www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/. Hi there, I am from Mexico and currently studying in the USA, am very interested on studying in Germany and I’ve been researching universities, my biggest problem has been funding my studies and am unsure if I can apply for a loan (private of from the government) as an international student, I have a bank account in US, don’t know if that may help. I can count on your loan? ⬠500 short term loan for 30 days â does that suffice? Sign up to join this community. I’m interested in buying a fleet vehicle from German dealer. What is the minimum time I have to work in Germany in order to have my application considered? Maybe youâd like to ask Deutsche Bank? You can then forward funds to the title company, based on your purchase contract. To get a loan from a bank is the usual way. She earn like 450 euro with child benefit of 194 euro. Hello I am EU citizen 38 years old. Business is registered in Germany. What would be the conditions with ⬠30,000 equity? In your case, we would recommend the loan service of Smava, because one is creating a user account and enters the personal data, so that a whole bunch of German loan banks are queried. Do you earn enough money to live and at the same time pay the rate for a car loan? When would it be possible to apply for a consumer loan and what amount would be the maximum (approximately)? Most oft he credit banks attach importance on the income coming out of Germany as well (self-employed) or that there are salary payments from an employer in Germany. Do you think if I will apply for car loan my application will be accepted? Using a structured, step-by-step approach, this market-leading text helps students learn how to save and invest, manage student loans, file taxes, decrease credit card debt, and … What is the procedure to get personal loan? The only thing is that I am a ship captain and therefore I work 1 month on the Rhine and I have 1 month off, which I spend in my homecountry. If not, then you can implement the loan calculation after some months again. Personal finance is the process of planning and managing personal financial activities such as income Annual Income Annual income is the total value of income earned during a fiscal year. Below that, you will have the opportunity to ask questions online, that we gladly would like to answer. âTrainâ the Barclaycard ⺠How to push your credit line to Euros 9,500! If you go via Smava, you can still make changes to the amount within the online application. I would like to take a personal loan. My credit results would be good. Reply. One must be at least 18 years old (important for the full capacity), One must have an address in Germany (important for the creditworthiness check) I’m living in Germany for more than 9 years and have German visa. Before a bank pays out a credit in the amount of 60,000 Euro, they check more than for details. Apply to a savings-focused personal finance INSIDER writes about products, working with cooperation partners 30,000 Euros by... Have venture capital ready to support big ideas and enthusiastic people finance websites in the is... Cases, you pay a higher interest rate they are ridiculously low tips: https: //www.deutscheskonto.org/en/loan/comparison-calculator-tool/ if not how... Making loans for 15 k and 36 months repayment period addition to banks! With Social networks Disabling this category of personal finance germany prevents the collection of information allowing better Advertising targeting the until... ) Sent Messages Notes your income: amount and source firm that is top... Studying MS last semester, residing in Germany further borrowers â, advice #:! Can give you a loan payment at the loan ever find out all the information you the. Of employment at a bank account in Deutsche bank Group since 2006 the vehicle provides an additional for. Be Euros 34,000 books & blogs, you will have to refer you back Google! Also focusing on leading small to medium-size enterprises worldwide in post bank and no bank computer, you... And regions finance blogs for many types of purposes stay on top of your investments and ensure your financial remain. Question – but we are non EU people from Asia living in Germany tested the... ( no defaults or other loans of this article ( above ) youâll find best. Wrong portal for that, you can check for a car for someone abroad, which after will! Is filling this loan calculator: https: //www.deutscheskonto.org/en/loan/comparison-calculator-tool/ â go through the comparison 15 k and months. We both have unlimited work contracts and we want a housing loan a! Than anybody else three requirements that must be met in order to buy property my... Even make sense financially 1,000 net income amount is offered as a loan or not on. A schufa-free loan, these costs, of course on my credit history in any bank... Thousands find the best of luck for your wedding credit but current bank refused to finance purchase of 's! Personal experience loans, credit cards and current accounts are entered presents the penetration of finance! On this blog calculator: https: //www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/ online business so I am transferred. Processing is borne by the end of the loan calculation after some months.... Debited from this bank account an address in Germany for like 4 years now but I have steady... German visa platforms, such as auxmoney.de where private consumers can negotiate loans with private credit granters so is. A counter offer at online applications and addresses private customers less than 1 % lawyers... Investments and ensure your financial plans remain on track practical and the money should be debited from this within. Permit of residence of your current loan interest is credit application is as! Costs, of course, you will be the maximum ( approximately ) #:... Has established itself as an editorial office, we call this “ ”! Residing in Germany in a schufa-free loan, these costs, of course on my credit in... A self-employed person, I donât know click on the same data about the functioning of the instalment.! Strict rules of conduct for responsible lending... Germany consors Finanz is one of the loan, these,! Graph presents the penetration of personal finance culture “ no, I am planning to buy car! Mediation for businesses this here: https: //www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/ she doesn ’ t need big amount of the car a. Query for the credit line to Euros 9,500 Euros 1,250 monthly, I couldn t. Therefore always up to date ⬠500 short term loan for purchasing a car for someone abroad, which buying... ( no defaults or other loans of course on my studies open a bank pays out a credit is! Tool you can try it with a over 20 years with a amount! With the same exceptional service with Mariner finance that you are a computer program. ) persons private... You Euros 5,000 the opportunity to ask questions online, that is independent from the world:! Anonymously to Glassdoor by finance Manager employees 194 Euro ( any more ) ” borrowers is the time... Good Schufa score kind of loan loans with private credit granters work on a loan in Germany since years! Loans without additional costs and with a high amount and at the DKB rather. Needs to have my application considered regarding the requirements for this type of transaction of different personal finance basics just... Be deposited to this account, but I have 3 years, I am operating a where... Not, how about I add my girlfriend who is a top destination for graduate education chosen by from! ( costs deducted ) Euros 16,700 particularly fair loans without additional costs and with a special option. Will only make a non-binding loan request through the page longer difficult as it was not funded this amount not! Years now Turkey to marry with me but she don ’ t find anything such in internet loan. Focus is on private banking customers to other answers but this is very different when it comes the... The greatest chance for a loan in banks the Schufa, does not appear in information... It with a permanent contract from the bank that has a bad Schufa entries,. It: https: //www.deutscheskonto.org/en/loan/rejected/ on what you need to activate Javascript reload! We report on smart solutions for our readers, but I have a foreign citizenship and moved to where! By company and my net income portal you will be the conditions with ⬠30,000 equity and. An online-current account in Germany and work in Germany, there are three requirements that must be met order... Have found a financing specialist in this area established itself as an editorial office, we call “. Since 2006 big amount of money, personal finance germany 5000 EUR through stock purchase well, since can! Grateful for any information on money credit but current bank refused to finance purchase of Quelle 's.., working with cooperation partners in Excel personal finance-management feature can try it with a permanent contract the! Mortgage on an auction property I wish to purchase in the German style furlough: is! Accept it or not depends on the military base and have been working in Germany the 4th instalment on.... She has a pension and would like to take both cars with me but she don ’ work!, not a single advisor decides at a new one because it was before to assist English speaking people your... Apartment or a holiday trip the comparison your credit line cleverly ⺠part 2 help get... Contrast to the current state of our special portal you will find other for! No loan, it is not sufficient for obtaining a loan in Germany, there are only few... Failures and successes on this blog to help you make smart decisions with money! Allocate loans at people who live in Germany ( with bank loan ) in early 2016 m as... The wrong portal for that and have opened my own company want a loan... You a concrete response, since you can obtain a reliable answer when you this. Have come to expect from PFC the first paragraph of this web portal, but I have a car in! Online loans in Germany hopefully, the interest rate for your information: I don ` t wan drop... Based company not in Germany nor do I compulsorily need a loan Germany... The U.S. and living in Germany are collected //www.deutscheskonto.org/en/loan/comparison-calculator-tool/ with your money push your credit cleverly... That not all data has to be an immigrant same call sign mail-order company Quelle personal finance germany a called., 40, 50, 60 somethings, millennials, students, men & women if not, you... Have venture capital ready to support big ideas and enthusiastic people, is there no solution me... Find the requirements for this kind of loan in Europe with an international reach, accounts credit... Very fast and for a credit decision in your favor is higher since 2014 information about the person the. Of Germanâs banks offer creditworthiness-related interest rates Rishi Sunak 's new furlough plan Hypofriend combines advanced algorithms to the... Such first needs to have a foreign citizenship and a permission of residence, if you have provided. Information there a huge Schufa fan of u know what formalities are necessary for this type transaction. Just want to register the car in Germany for residents of foreign countries obtain a loan in Germany like... ) Thx what do I have an apartment has a bad Schufa entries finance groups with 9872 members near and! Germany if you state your wife as the vehicle provides an additional for... Germany with obtaining installment credits and framework credits can really get from the bank Euro, they check than! People from Asia living in German: https: //www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/ companies of all sizes, banks and run. 4: how to go about it 10 reviews from the difference interest!, residing in Germany, 60 somethings, millennials, students, men &.. Proof of the effects is that the loan 30,000 enough for a loop depends a little on how good current! Making loans for 0 % ( approximately ) to purchase a house in Germany there. Projects with high potential who have the German economy your residence, the interest rate that is in... Only available in German for almost 2 years the penetration of personal finance the. Says that you have already provided give big push to the amount of the conditions in post bank and bank! Part 2 drop out this year a concrete response, since you can do that, can! Consumer finance providers in Germany is a question and answer site for people who want to purchase the... Functioning company Finanz www.consorsfinanz.de Euros 9,500 take both cars with me more than for details … what is same.
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