Who doesn’t need a new car or new furniture for their home? And those who don’t have enough money for such wishes often have to resort to a loan. But before you take this step and go to the bank, you should first clarify the most important questions:

  • Do you really need this loan?
  • What do you want?
  • Why do you want it?
  • What kind of loan do you want?
  • How long do you want to repay this loan?
  • What collateral do you have on offer?
  • Would you be at a disadvantage if you were to forego the loan?

If you have worked through this list of questions and have now definitely come to the conclusion that you cannot avoid a loan, then it is best to make a free comparison here on in our loan calculator. You are sure to find the best and cheapest loan for your purposes! However, you should pay attention to the possible fees and the APR when comparing - because these factors ultimately determined how expensive the loan will be for you.

Now it is not so easy to make the right decision for or against a loan. In the following, we give you some important tips on what to look out for and what you need to think about thoroughly.

Which type of loan?

Depending on what you plan to use the loan amount for, you should also choose the appropriate form of credit. For example, there are special car loans for the purchase of new or used cars. If you want to modernise your house or flat or bring it up to the latest energy standards, a state-subsidised loan from the KfW Bank is a good option. Are you a student and want to finance your studies? KfW Bank can help you here, too.

Employees usually have the widest choice of loan forms (assuming a positive credit rating). Whether personal loan, instalment loan, mini loan or immediate loan - there is a suitable offer for every need. Take a look at our overview to see which options are open to you!

However, self-employed persons and freelancers do not have to go empty-handed when it comes to loans - although they often have to resort to loans without Schufa or guarantors. You can also get comprehensive information about these options on

What loan amount?

Determining the exact amount of credit you need is essential for your application to a credit institution. Keep a budget book and use it to determine your monthly income and your financial liabilities. Also take into account all possible contingencies, such as a broken washing machine or a necessary car repair! With the budget book, you can estimate the maximum monthly burden of a loan - and logically, depending on the interest rate, this will also determine the maximum loan amount or a possible term for repayment of the loan. Talk to your bank advisor about how much you would have available each month to repay the loan and he or she will then make you an offer.

As you can see, it is not that difficult to apply for a loan! However, if your application is rejected for any reason, you can get valuable tips here on how to get a loan after all.

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