You plan to take out a 5500 euro loan, but do not know which offer is the best? If so, you'll find the best deals at top rates on Credit 123! Simply enter your intended monthly rate and the intended term, and in a few seconds, the free loan comparison tells you which bank currently offers the best conditions.
Compare now attractive 5500 Euro loan offers!
Reasons to want to apply for a 5500 euro loan, there are almost like sand by the sea. It's often a major purchase that won't tolerate further postponement, so you couldn't save up for months first. Or a financial bottleneck has arisen completely unexpectedly, perhaps because the car has engine damage or the washing machine has given up the ghost. Or you simply want to finally go on a well-deserved vacation so you can recover from a stressful workday!
Use as a 5500 Euro debt rescheduling loan
Also could make sense to use as a 5500 euro debt restructuring loan. If you have for some time the current account can hardly balance, and the overdraft interest every month eat away a decent chunk of money, then you should perhaps. Thinking about debt restructuring. Because the interest rates for a 5500 euro installment loan can be significantly lower than the fees for an overdraft facility.
Of course, existing loans that were negotiated at much more expensive conditions could also be optimized via the rescheduling loan or even merged, for example, if you have liabilities at different institutions. Whatever the purpose for which the loan is to be taken out – there are a few important requirements that must be met for approval.
Requirements for a 5500 euro loan from the bank
Every German bank will have certain minimum requirements for the borrower. To get a 5500 Euro loan from Postbank, Sparkasse, Raiffeisenbank, Commerzbank, Targobank or any other bank, the following is usually required:
- The age of majority of the applicant
- Permanent residence in Germany
- German bank account (Girokonto), so that the money can be received
- Good credit rating, which is checked in exchange with SCHUFA Holding AG, based in Wiesbaden, Germany
- Sufficiently high monthly income, in order to be able to balance the repayment installments
If these requirements are met, then the approval of the 5500 Euro loan from the house bank is usually a quick, uncomplicated and purely formal matter. In particular, employees in the public sector and civil servants and employees in private companies who have a solid employment contract, should not encounter major obstacles. However, this can be different for self-employed people.
Additional requirements for the 5500 euro loan for self-employed& Entrepreneur
Self-employed persons and entrepreneurs can be prepared for the fact that significantly more documents are required. This is usually because a regular income can not be traced – some months turn out financially better, some worse. Therefore, additional documents are often required:
- Balance sheets and annual financial statements
- a business management analysis (BWA) carried out by a tax advisor or auditor
- the latest tax assessment notices from the tax office
- further proof of income such as z.B. Rental income and stock profits, possibly. also dividend payments from your ETF
Sometimes even these further documents are not enough for the bank employee to bring himself to approve you the 5500 Euro loan for self-employed people. Then it can help to deposit further loan collateral.
Bring in additional loan collateral
It is very popular to appoint a guarantor. However, it is better to have a second borrower, because he is fully liable for the 5500 euro loan from the beginning. This is generally very positively evaluated by the banks, because then the credit default risk is significantly lower and thus improves the credit rating. It is particularly favorable if the second borrower has a good income, because then it may be that the interest rates for the contract can be reduced even further.
Civil servants who are just starting their careers can also improve their creditworthiness in this way and negotiate the best conditions with the help of a second borrower. It is likewise conceivable that you bring in real loan collateral like the house or your car. If you z.B. want to renovate their own home and use the money to increase the value of the house or use the 5500 euro loan so car loan and want to bring the car as collateral for the loan with it.
Not every bank takes this into account, however, since the examination of the loan collateral is an expense. By the way, it is still not a given that your bank will issue a 5500 Euro loan at all – in the next paragraph you will find out why.
The 5500 Euro loan as a small loan
The 5500 Euro loan belongs to the small loans, which up to the amount of 10.000 euros go. For a long time, classic banks did not issue such private consumer loans at all. But in recent years, numerous online banks have appeared on the scene and many processes have been simplified by the Internet, by new software and better technologies, so that now the majority of banks can offer such a small loan in the amount of 5500 euros.
However, if in doubt, first check with the bank you trust – a short phone call should suffice so that you do not make a wasted trip to the branch only to find out that there is no relevant product at all.
5500 Euro credit without SCHUFA?
Every German credit institute will check your creditworthiness in exchange with the SCHUFA (formerly a registered association, today a stock corporation). This institution collects relevant data on many millions of people and companies, which can be requested. Evaluated are u.a. existing contracts and payment history.
If you have in the past now and then slackened with payments, and even if it was with seemingly small amounts in connection with the mobile phone contract, then this may have been noted. This can now have a negative impact on your SCHUFA score. The German credit agency can send you this data in case of doubt – once a year you can view it free of charge and – if there are errors – correct or. let delete.
The 5500 Euro loan without SCHUFA query you can not get from a German bank so, because in principle always a request is made to the credit agency. Previously, it was mainly Swiss banks that offered such a 5500 euro loan without SCHUFA, nowadays it is u.a. the Sigma Kreditbank AG in Liechtenstein and other companies in Luxembourg.
However, there are often much higher fees than would perhaps be the case at a local bank. So you should definitely consider applying for a 5500 Euro loan despite SCHUFA at your local bank – maybe you can find a way after all.
Beware of upfront charges for SCHUFA-free credit
In some cases, there are rather shady companies that offer a loan without SCHUFA query or even a 5500 euro loan without proof of income. These then sometimes demand not only high fees, but also "upfront costs" before you have seen a single cent of your loan. Then all alarm bells should go off, because you have it here most likely with fraudsters to do. "Finger away!" – is the motto here, you here possibly neither a 5500 euro loan without / despite SCHUFA or. obtained without proof of income, but also pay on top of it and lose money.
5500 Euro credit from private
A conceivable variant would be the 5500 Euro loan from private individuals. In this case, you received the money from an acquaintance or family member. Perhaps you have a wealthy person in your circle who will willingly let you have the money and even give up a prize. Then you would have in the best scenario even got a 5500 euro loan without interest, which no bank in the world can beat!
Worry but ggfs. for the fact that even in this lucky case there is a decent contract that meticulously breaks down the term, monthly installments and other details so that there are no unnecessary complications at a later date.
Even from unknown persons you can get a 5500 euro loan from a private individual. With this anonymous form of credit from private you are usually connected via a platform, which can also be done quickly and easily. A downer, however, is often that here again the effective interest rates tend to be higher. Maybe in the end the classic 5500 euro installment loan is the best solution again!
Many options for your individual loan iHv 5500 Euro
So you see – there are quite a few ways you can get a 5500 Euro loan. Check now easily via the credit comparison, which offer is suitable for you. Consider as carefully as possible which monthly installments you can afford, and feel free to play a little with the terms until you have determined the best interest rate for you.
With numerous offers the complete procedure is online. You apply digitally, conclude the contract on the Internet and then receive the instant loan in ca. 24-72 hours, so that one could almost speak of a 5500 euro lightning loan. Here, however, the banks sometimes work very differently, so that one can hardly make sweeping statements.
Tip for students and trainees: some banks also offer a 5500 euro loan with low income. Here it is then even more important to bring in additional loan collateral, and especially trainees can score additional points by a latent acquisition and by surviving the probationary period.