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How the loan calculators and application work
Requirements for the loan calculation and subsequent brokerage
Loan calculation for private customers
When taking out a loan, it is initially important to perform a calculation so that the borrower can foresee what financial burden will arise.
A loan, colloquially also called credit, is a contract in which the lender temporarily lends a sum of money to the borrower. Depending on the amount of the loan, the borrower may provide collateral to secure the loan, such as an entry in the land register, a third-party guarantee, or the assignment of claims.
There are different types of loans and loan calculations:
- Bullet loan (Fälligkeitsdarlehen): The loan is repaid with interest at the end of the agreed term.
- Annuity loan (Annuitätendarlehen): The annual amount of interest and repayment due is always the same. Because the loan decreases by a certain amount each year, the repayment portion continuously increases and the interest portion correspondingly decreases.
- Amortizing loan (Tilgungsdarlehen): The repayment rate remains constant throughout the term and the interest is calculated on the remaining loan. Therefore, the installments decrease over time. The schedule of payments is shown in a repayment plan.
- Installment loan (Ratendarlehen): The total interest amount accruing over the term of the loan is added to the principal. Repayment then takes place in a constant installment.
- Home savings contract / revolving money market loan (Bausparvertrag / rollierendes Geldmarktdarlehen): In this case, the interest to be paid adjusts to money market rates and repayment is flexible.
Requirements for a Loan
Usually the most important requirement for a loan is creditworthiness. That means the borrower's creditworthiness is checked before the loan is granted. The lender wants to be sure that the loan will be repaid. In a self-disclosure, the borrower generally has to state their income and expenses, debts and reserves. Information about employment, job security and marital status is also very important.
With us you can perform a loan calculation online and also obtain loans: With our extensive experience in loan origination, the process is very simple. You need a loan — we have the means to help you obtain a secure loan. If you submit a loan inquiry, it is of course completely non-binding and free of charge for you.
How the loan calculators and application work
After your inquiry, you will receive all documents and information for submitting an application by e-mail and by post. As soon as you have returned all documents to us filled out and signed, we will review your loan on the same day we receive them.
If there are no further ambiguities, we search for the most favorable loan for you among the many banks we work with and obtain premium conditions for you. If you wish, we will also advise you at your place of residence and help you fill out the loan contract. You can apply for a loan with us in amounts between 3,000 and 250,000 Euro.
Please note that it may take up to three business days for the bank to transfer the requested amount. Therefore, please always provide us with an e-mail address and a telephone number. This way we can reach you as quickly as possible if questions arise.
If you would like us to broker a loan without Schufa, it can take up to a week to process. For the brokerage of your loan we need your truthful personal data, such as name, date of birth, marital status and information about your financial situation (income, earnings, pension, rent, etc.). In addition to a copy of the latest payslip or the latest pension notice, we also require the loan contract signed by you. Afterwards we can perform the loan calculation.
Requirements for the loan calculation and subsequent brokerage
If you are at least 18 years old and can prove an income of at least 850 Euro per month, MAXDA can perform a loan calculation and subsequently broker a loan for you. With the additional signature of a solvent guarantor, we can still broker a loan for you even if you do not meet these criteria. This applies, for example, if you are currently unemployed.
You can view your personal Schufa data online in the Schufa directory at any time; you only need to authenticate yourself. A Schufa-free loan is granted by a foreign bank and is at most 5,000 Euro per person. Anyone who can prove a monthly income of at least 1,130 Euro as a worker, employee or civil servant and is between 18 and 60 years old can, after our careful review and the loan calculation, receive a loan without a Schufa entry.
For civil servants, employees in the public service and employees who can prove at least ten years of employment, there are loans with specially favorable conditions, because a particularly secure employment relationship provides a high degree of payment security. The civil servant loan is characterized by a particularly low interest rate, a longer term (240 monthly installments) and low installments. For all terms, the effective annual interest rate starts at 3.99 percent.
Four weeks after receipt of the loan, repayment begins in the agreed monthly installments, either on the 1st or the 15th of each month. The interest rate remains unchanged for the entire term of the loan. Those who wish to repay their loan immediately can do so at any time without restriction.
Loan calculation for private customers
For our customers, we have been a competent and reliable partner for many years and are among the largest financial service providers in Germany. Because we cater exclusively to private customers, we can tailor our offer precisely to your needs and thus offer attractive conditions for all products and services. As an independent financial service provider, we work with the market leaders among German and also European lending banks — benefit from our many years of experience.
If you have a loan request or questions about the loan calculation, our friendly staff will be happy to answer any question competently. You only need to fill out our free and non-binding loan inquiry online and you will then receive your personal loan offer from us. You will receive your loan application by e-mail, which will also be sent to you by post. For the successful review of your application and the loan calculation, please return it carefully completed and signed and include an original or a legible copy of your latest payslip. We review your documents immediately after we receive them and will then get in touch with you.