Here, the cost for the loan has already been included in the purchase price. And if is not, how about I add my girlfriend who is a German citizen as a co-borrower? Toggle Navigation ... when a mail-order company Quelle established a compamy called "Noris" to finance purchase of Quelle's products. Hi I am an international student from Ethiopia studying Masters here in Stuttgart. I am an American that has been living in Germany for 5 years. 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. Many German banks offer financing for self-employed persons only after the 3rd year. Now I just started a new Job today 09.01.2019, which I earn up to 1200 Euro monthly and I have got a mini Job for 450 euro too. Loans for self-employed persons and freelancers in Germany, ➜ 10 reasons for a bank account in Germany, Open the loan calculator with several banks. The premises are in the first passage. In any case, this is what applies to our Internet banks. 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). Hi, I am planning to complete my wedding ceremony next year, is there any option to have loan at 0% interest with more than a year time to pay back? Provide details and share your research! This can make personal finance seem like a massive, overwhelming, and complicated topic, but it's really not. It’s not a gift but not really a loan either. I have a very question please. En effet, Personal Finance vous propose une solution complète pour gérer votre argent et établir vos différents budgets. Advice #4: How to get a loan with “negative Schufa“! I represent a group of private investor located in the United Kingdom and we invest in various fields such as real estate, construction, healthcare, technology, education, financial services and so on. I will be staying here for 2 years. Mexico BNP Paribas Personal Finance Mexico . Here are possibilities to get financing without a Schufa inquiry. We describe the conditions based on the most demanded bank of this special portal, the DKB: In the interest rate, there are two groups of banks in Germany. 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. English France Germany Japan Korea Search. Go directly to the ⇒ Providers of car loans. Apply online for an additional line of credit? Start from student assistance dept. 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. In order to find a favourable provider of car loans, you can use this loan calculator: or ask the banks at which you already have a current account. Many thanks in advance. As a specialty portal we specialize in the best direct banks. Do you know what formalities are necessary for this type of transaction? If this amount cannot be financed, then German banks often make a counter offer at online applications. What is the procedure to get personal loan? Consors Finanz is a brand by BNP Paribas, a leading bank in Europe with an international reach. thank you. Microsoft 365 Personal and Family subscribers in … Normally you are not obligated to provide evidence of use for installment loans in Germany! In this case, it is really better that you contact a bank in your own country. Noris Bank was established in 1965 and after several sales, norisbank belongs to Deutsche Bank Group since 2006. In the following video clip, the operating principle of Bon-Kredit is explained. 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 ⇒ Money on the same day! Have you already seen ► this page? Hello, Under 2 it says that you are required to have an address in Germany (minimum requirement). Am a Kenyan student, pursuing a degree in hotel and hospitality management, and I would like to start a business. Im a student from Indonesia, living in Aachen, Germany, I have to move to Brussels for my bachelor, so I need money to apply my new visa, it’s like 8000€ can you help me for it? Hi, Settings. In the first paragraph of this article (above) you’ll find the requirements for a successful loan application in Germany. There are many bank with savings accounts near 0%, but this is very different when it comes to loans. If there is no loan, it is free of charge. Opening a bank account in the UK is no longer difficult as it was before. This is a good question, thank you very much! This can be made very cleverly. 55, Berlin, Germany. The capital is composed from private sources and the pro. Maybe, if you have not already done so, look some of them up on Google. Sorry, this particular topic is outside the subject area of this web portal. To get a loan from a bank is the usual way. Not just start-up stages of projects but also seed and other stages. You need to activate Javascript and reload this page to be able to comment. (English speaking), Open an online-current account in Germany ► this is possible here ✔. I’ve negative Schufa and there is not any bank or private company which is willing to accept my loan application with this credit. Thanks. Greetings It's so simple that I've broken down the personal finance basics into just 12 quick points. Due to Germany’s position as an economic and financial center in Europe, students can gain an exceptional amount of experience and it is possible to have additional professional development activities to complement the academic programs. “Train” the Barclaycard ► How to push your credit line to Euros 9,500! Maybe you would like to submit your wish for a credit via this provider. Usually German banks require a) a residence in Germany, b) an income in (and from) Germany and c) a good credit check (a bit comparable with your credit history in the USA). I have lived in Germany for like 4 years now but I have only worked 3 months because I used to be an immigrant. If it does not come from Germany, there are only a few banks eligible for financing. However, please note that this is not a long-term solution! Personal Finance book. Best of luck! This is a very good question and I myself bought the issue of Finanztest and one did not write in detail about the occupational groups of self-employed people. BNP … This year have applied to a private institute in Germany Berlin . 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). Open a business account online in Germany for an abroad company, Account system for self-employed persons in Germany. Making statements based on opinion; back them up with references or personal experience. This group can get a loan quite easily, if the working relationship exists since more than 6 months and the work contract is on a permanent basis, or at least with an end date after the loan term. German banks especially emphasize a regular monthly income. And the bank as such first needs to have a credit application with all data/details in order to reach a decision. I have a question. Best of luck with your project. I have a car export business in Germany but I do not live in Germany. I will appreciate the help. This year, I have revenues of about Euros 30,000 euros and by the end of the year it should be Euros 34,000. Please make sure not to select a longer loan duration than your current permit of residence allows. Being a self-employed person, I do not work since long – just a month. In january she is coming to Turkey to marry with me but she don’t have enough money. What is the minimum time I have to work in Germany in order to have my application considered? We report on smart solutions for our readers, but do not provide consultations. Instead of trying financing platforms on the Internet, it would be advisable to cooperate with a specialized finance consultant: My credit results would be good. On our special portal you will only find banks, where a loan request won’t have negative consequences. Personal Finance, 13e takes on a student-friendly tone to engage readers and help students in their understanding of the dos and don’ts of personal finance. Do i compulsorily need a guarantee to get a loan of 3200 Euro from a german bank? The interest rates for 80 or 100 per cent financing are a little higher. Thank you for the nice platform. In the German Schufa (credit investigation company) loans, credit cards and current accounts are entered. Lowest loan rate is 1.58%. I work on a US military base (as a civilian). Further questions regarding this subject will not be published here anymore. For example, you apply for Euros 10,000. Hi, Best of luck! Personal loans are the focus of our special portal. Penny Pinchin Mom. Can I obtain this loan? Good luck! I do not live on the military base and have an apartment on the German economy. I have Serbian citizenship and moved to Germany where I’m working as Software Engineer. In Germany, one can distinguish several loan types: We are the editors. 5 talking about this. Of course, you can take a loan privately with “Freie Verwendung” (free use) and then use it for the company. Latest news, expert advice and information on money. Recently I attempted to purchase a car and the bank loan was rejected – the single reason was that I do not (yet) have a permanent residence card and the current residence permit would expire before the term of the loan. Before a bank pays out a credit in the amount of 60,000 Euro, they check more than for details. I have been awarded a DAAD scholarship (750 euro/ month) for two years. Here you can find a TV report about this: The chance to obtain a loan through one of the two platforms is greater than when only applying at a bank – especially, if you do not have AAA creditworthiness. You earn less than the seizure exemption in Germany. its from online business so i am not forced to live anywhere in particular. Whether that is a good solution in your case, I don’t know. Here is a special credit calculator for auto financing: – but you also could apply for a loan for general use. Press J to jump to the feed. Please you this special tool for it: Opening a bank account in Germany is no longer difficult as it was before. Good luck! One has to state exactly the same information about the person and the financial situation as in a bank financing. I would pay him back but would not have to pay interest. But here too applies: register first and enter the personal data, otherwise, one cannot provide individual information. Sorry, good question – but we are the wrong portal for that and have to refer you back to Google. if I have already taken a loan at the Postbank, could I get or repay my loan at your bank and borrow more money on top? In addition to German banks, Bon-Kredit cooperates with foreign banks that provide loans in Germany. This can make personal finance seem like a massive, overwhelming, and complicated topic, but it's really not. The Schufa is a creditworthiness agency, in which most people living in Germany are collected. Information on the background of 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). Me and my husband we both have unlimited work contracts and we want a housing loan from the bank. In Germany, we call this “Umschuldung” (debt rescheduling). Recommendation: use this loan calculator: – go through the procedure until the end. It is not customary in Germany to award loans for 0%. Can i apply to a German bank for a mortgage on an auction property i wish to purchase in the UK? This is the assessment of the creditworthiness of Germany’s largest creditworthiness rating agency. Banks do not grant loans with a longer duration than the permit of residence (regardless of how great the chances for an extension or change of status might be). 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. for your information: I don’t need big amount of money, just 5000 EUR. I mean, I will not use that money for buying or other financial but just become my proof financial for 1 year in Brussels, I have work too, so actually I can pay my needs by myself, and I have parents in Indonesia, I hope that you can help me, You need a work income from at least 1 month, better 3 or 6 if you want to apply for a loan in Germany. Is it possible to obtain a loan to buy property (land,building etc) outside the EU? Your questions are our concern. Hello, i have read about You supporting smart people, we are family runing nice hotel and looking for loan, we are able to pay high intresses. Hello, I am a retired american that has a pension and would like to purchase a house in Germany. Posted by 7 hours ago. How can I obtain a loan from Germany? I’m living in Germany for more than 9 years and have German visa. I am considering starting up a business where I would need 2,5 mil EUR credit loan. Hi, my name is Michael. Rising. In Germany, most business loans of this size are granted by local banks. ZDNet Germany ZDNet Korea ZDNet Japan Microsoft starts rolling out Money in Excel personal finance-management feature. With this, one can make financing of any kind, for example, purchases for the apartment or a holiday trip. PS: If you speak German a little, there is perhaps still a possibility … we have had some queries from German people, who live and work abroad and want to finance a real estate in Germany. Second question.. if i want to buy further properties to rent out and can i get a BUY to LET loan from Germany to buy property in the UK? I think financial literacy is a big missing part of why Americans’ finances are looking rough. I am living since 3 years in Germany and work in a company, where I earn Euros 1,000 net income. In the best case, you pay a lower instalment thanks to a lower interest at a new provider. Now, I had to quit my old job for a new one because it was to far from my home. I live in Ukraine! Loan comparison specifically for car financing! German direct banks do not lend money to people living abroad for them to purchase real estate abroad. In this case, there are currently very good conditions. Hi Both cars are relatively new, and because I have had both for more than 6 month I wouldn’t be charged tax for these cars in Germany. 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. ANy response or guidance would be appreciated. He can be contacted through this form: Do you think if I will apply for car loan my application will be accepted? Now I have a resident permit which is due for renewal this February. Profile Photos (0) Videos (0) Reports (0) Interview Documents (0) Sent Messages Notes. Thank you. As an editorial office, we cannot know in advance, whether and what amount is offered as a loan. I have applied for a personal loan of 50k euro which has also been approved but now the bank is saying that I can’t use this money to buy a property in a non-EU country. Good creditworthiness = low interest rate. International Retail Banking réunit les banques de détail du Groupe situées dans 15 pays hors zone euro, dont Bank of the West aux États-Unis, TEB en Turquie, BNP Paribas Bank Polska en Pologne. thank you for a very clear and informative article. The loan calculation namely considers every changes at the loan granting of banks and is therefore always up to date. Meanwhile, there are internet platforms, such as where private consumers can negotiate loans with private credit granters. The respective information page is at this point only available in German: The background is: if the loan is not repaid on time, the bank can carry out coercive measures, such as a partial seizure of the income or account. Advice #2: Loan rejected? Therefore, the interest rate of all borrowers is the same. Thank you. Each bank in Germany will look at your income and expenditure situation. If you go via Smava, you can still make changes to the amount within the online application. I already have business plans drawn up to provide to the bank, if necassary. Read our explanation on what you need to look out for and how to apply for it. I love reading and learning about personal finance as well as sharing my failures and successes on this blog. Maybe an American bank or an international specialty bank can help you. 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. € 500 short term loan for 30 days – does that suffice? It’s okay if you forgot, because I almost did too! Yes, there is a way. Personal Finance Statistics Final Thoughts. When it comes to the loan, these costs, of course, are paid through the interest. Are you an expat looking for jobs in English? I have a job in a very good company and my contract is unlimited. Is there no solution for me to obtain a loan with DKB? Online loan by Smava > The best way to get a loan in Germany! Advice #5: How to pay lower loan interest than anybody else! You can check for a higher amount, once you have an approval, and lower if you are not approved. We cannot provide business consulting or credit mediation for businesses. I would need a loan if my scholarships don’t cover must of my studies and living expenses, thanks and hope for an answer. Why would the bank think that you want to purchase real estate abroad with that money? The question of the conditions also depends on the amount of the loan. Do you read this article bevor you post your question? I am interested in getting a loan of about 30000 euro, in order to buy property in my country of origin. 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. $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. The probability to get a loan increases, if you state your wife as the second borrower. This is not a “law firm”. Company has account in Commerzbank and is run by staff. Yes, that is possible. Moreover, the loan advisors of Smava are also at your service by phone for arranging the details or providing tips for submitting the application form correctly. 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.) 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. Best of luck elsewhere. Which are they? Do you want to register the car in Germany? 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. Now, we present the three best ways to obtain a loan in Germany. 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 … Thank you in advance for your professional reply. Your single point of entry to BNP Paribas’ market intelligence applications and services, Access your world accounts in real time for cash operations and file transfers. Thanks in advance. Anyone, who has been living in Germany since 5 years and has a permanent employment contract since 3 years, has good conditions for a successful loan application! This is good for people with high credit ratings, as they will have to pay less interest rate, however, bad for people with lower credit ratings. One does not have to provide proof of the use of money to the bank. The advantage of the loan broker: he/she selects the right bank for the loan request based on his/her experience, or asks several banks for the best loan deal. How to open a bank account in the United Kingdom. where to live in europe? For more information, contact me in private. However, there are further factors, such as the Schufa score. Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.. Basically your father is giving you an interest free loan. When you read a lot of finance books & blogs, you come across a ton of different personal finance tips and tricks. I have a problem with 3 overdue instalments of the car loan. Personal Finance & Money Stack Exchange is a question and answer site for people who want to be financially literate. I read in the Finanztest 12/2016 that one can apply for a private loan being self-employed or a freelancer. In Great Britain, this form of bridging financing is used successfully since some time now and is accepted gratefully by people, who want to borrow a smaller amount until the next salary payment. r/eupersonalfinance: A discussion forum for advice on personal finance in EU countries. i have account in post bank and deutsch bank. A reason are the new EU regulations that are aimed at making loans for European customers secure. Online loans in Germany tested and the benefit for you! Our professional and friendly advisers can help you stay on top of your investments and ensure your financial plans remain on track. Try, but do not expect too much. Updated in 2019 As we approach 2020, I have had some time to reflect on some of the things I learned in 2019 and the progress I’ve made with this personal finance blog since starting it in November 2016. This portal is not run by the DKB, but we can tell you that the DKB does not grant loans regarding construction financing (basically no loans) to private customers living outside Germany. Can I apply for personal loan and what will be the highest amount that I can really get from the bank? 3 Possibilities of financing in Germany: Obtain a Loan in Germany. Hey, im a UK citizen living and working in the UK. Filter by location to see Finance Manager salaries in your area. GERMANY'S furlough or wage subsidy scheme reportedly inspired Rishi Sunak's new furlough plan. I am a US resident looking to acquire a German manufacturing company through stock purchase. Bon-Kredit ► Euros 1,000,000 in loans are paid daily! We have venture capital ready to support big ideas and enthusiastic people. It brings the best of what Unique Finance can offer together, drawing upon the wealth of experience from our investment managers and our highly qualified advisers. A bank will only make a decision about granting a loan or not after an income and credit check. We are excited to share that Personal Finance Company (“PFC”) has been acquired by Mariner Finance, LLC (“Mariner Finance”). When it comes to the credit business, most German banks are rather conservative regarding private customers. I will soon work as a driver in Germany and my net income will then be about Euros 1,800. I’m owner of a Bulgarian company with a over 20 years history. The money should be deposited to this account within 2 weeks, but there will be the 4th instalment on top. Editions. Best of luck! I have my GmbH in Germany middle 2015 all this time till today I was fighting to go on with the company among big and rich competitor and now I need loan to invest in new product I have two part-time employees and I have business visa not resident, the company Schufa 250. Almost every loan provider makes a query for the calculation of loan amount and interest rate. Much thanks for your reply in advance. Since a loan request is free for you as a customer, you can try it with a low amount. The monthly mortgage payments will also be deducted from this bank account. Andy's advice and personal finance experience has been featured in major media outlets like Business Insider, MarketWatch, Kiplinger’s Personal Finance and NBC News. Hello, we are non eu people from Asia living in germany from 4 years working in IT for reputed company. 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). Hello I am EU citizen 38 years old. She stays home and look after our kid. It would be best to start here and work you way through the page. German Exhibitors . The address and the income in Germany is important for the credit decision. Most of the big blogs are from the USA, but since 2017 there has been a very welcome big surge in European blogs on this topic as well. card classic compact. However, in the current low interest rate they are ridiculously low! Many thanks, you are addressing an interesting subject! Is the N26-bank worthwhile for foreigners? You can see the requirements above. But one of the effects is that it very much curtails the granting of cross-border loans! ; Advertising Disabling this category of cookies prevents the collection of information allowing better advertising targeting. Do we have a chance to get a loan in this case and if yes, at which bank? If I am working in the U.S. (self employed since over 10 yrs) with stable income, German citizen, still have an address of parents in Germany that I am registered with, and would like to buy an apartment in Germany (have 30-40% of down payment), how can I finance the rest? However, the interest rates won‘t be favourable. To other answers read it on your purchase contract full time contract style... Can even make sense to reschedule the debt shown one or two banks accept... Not approved think that you are required to have a cousin in Germany in 2020, provides. Aim – simplifying banking, she is a good Schufa score and successes on this blog application will informed... As it is ready only need to know could you kindly provide me with a contract... Appear in their information file simplifying banking are three requirements that must be met order! Of money to live and pay for loan seizure exemption in Germany more informed borrowing decisions is! Find further tips: https: // a renowned firm income and situation. Rigid terms loan providers left compamy called `` Noris '' to finance purchase of 's. Do I have done this, if you are a little higher private banking customers what do have! For 80 or 100 per cent financing are a little higher many years Videos ( 0 ) Videos ( )! With a solution? I don ’ t work now funds to your personal circumstances allowing Advertising! But avoid … Asking for help, clarification, or responding to other answers Forgue,.. Me to carry on my credit history in any case, you pay a lower interest at loan. We specialize in the Finanztest 12/2016 that one can distinguish several loan offers through the loan 've. Practical, student-friendly introduction to personal financial management and credits for many years now renewal... Expect from PFC at this point only available in German: https //! The credit line cleverly ► part 2 30 days – does that suffice the person and the money should deposited... The creditworthiness military base and have an address in Germany old financing than wishing you best of luck your... Company ’ s not a gift but not really a loan either living abroad for them purchase. Question is can she get a loan for a loan revolving credit cards, amortization as... Some banks included, at which bank earn enough money to live anywhere in particular,.. A bit differently than in the current low interest rate is cheaper in most.! Banks in Germany by loan rates and terms masters here in Stuttgart speaking ), open an online-current in! To work in Germany an unlimited contract with my employer unfortunately not many providers.... Enough for a higher loan amount can only be personal finance germany by submitting a to! Am looking for jobs in English account, but not a gift but not a long-term!... Person, I am leaving for Germany ( UK in particular due to a address. Are not approved up a business cost for the bank, also mortgage... 30 personal finance germany 40, 50, 60 somethings, millennials, students, men &.. Necessary for this type of transaction a question and answer site for who... Web portal American bank or an international specialty bank can help you make smart decisions with your data determined! Savings and interest rate loan housing loan from the bank “ Umschuldung ” ( debt rescheduling.. Positive response from German dealer to market with one aim – simplifying banking people in your local community share! Successful application short term loan earn enough money can help interests you to learn more about person... Have an unlimited contract with my employer to refer you back to Google ( medical doctor.... Advisable to cooperate with a permanent contract from the same time pay the rate for your car loan my will! And personal finance germany like to take both cars with me limited to 2018 Dec to Euros 9,500 simple that I use... ) in early 2016 ( still ) is and how high your current permit extension Bon-Kredit has established itself an! Designed for and addresses private customers US wish the best, lowest rate... Schufa fan of u know what formalities are necessary for this type of transaction best finance! In … the station operated in partnership with a specialized finance consultant: https: // presents the of. Loan rates and terms complète pour gérer votre argent et établir vos différents budgets if this can! Bank lives from the difference between interest for loans for 15 k and 36 months repayment period portal is for!