What is a mini loan (Minikredit)?
A Minikredit (also called a small loan, Kleinkredit, or short-term loan, Kurzzeitkredit) is a short-term loan with typical amounts between €100 and €5,000. Unlike a classic personal loan (Ratenkredit), mini loans are characterised by shorter terms and faster payout.
The term covers two very different products: genuine short-term mini loans (e.g. Cashper, Vexcash) with terms from 15 days to a few months, and small personal loans from €100 or €1,000 with terms of a year or more. With the short-term offers, the real cost often does not come from the interest but from paid extra options for faster processing.
Mini loan vs. personal loan – the differences
| Feature | Mini loan | Personal loan |
|---|---|---|
| Typical amount | €100 – €3,000 | €1,000 – €100,000 |
| Term | 15 days – 12 months | 12 – 120 months |
| Payout | A few days; faster usually only for an extra fee | Usually a few working days |
| Interest | Approx. 11–14% effective plus any service fees | Approx. 2–20% effective, depending on credit standing |
| Credit check | Always, often automated | Always, including proof of income |
The key takeaway: a mini loan can make sense for short-term, small amounts – for larger purchases or longer terms, the classic personal loan is usually cheaper. Our current comparison shows that for €1,000 over 12 months the advertised effective rates start at 1.99% (e.g. GIROMATCH, as of October 2026).
Requirements & application process
Applying for a mini loan is usually possible entirely online. Compared with classic bank loans the requirements are often less strict – but there are basic conditions:
Basic requirements
- Legal age: minimum age 18
- Residence in Germany: a German bank account is required
- Regular income: proof via payslips
- No hard SCHUFA entries: personal insolvency or a sworn statement of assets (eidesstattliche Versicherung) lead to rejection. SCHUFA is Germany's main credit bureau.
Tip: SCHUFA self-disclosure
Under Art. 15 GDPR you can request a free copy of your data from SCHUFA at any time. Check your data for errors before applying for a loan – incorrect entries must be corrected (Art. 16 GDPR).
The application process step by step
- Use the loan comparison: compare the effective rates of different providers (see the table above)
- Fill in the online application: enter personal details, income and the amount you want
- Identity check: via VideoIdent (a few minutes) or PostIdent (1–2 days)
- Loan decision: usually within minutes to hours
- Payout: depending on the provider the same day or within 1–3 working days
Costs in detail: what you need to know
For loans, the effective annual rate (effektiver Jahreszins, similar to the APR) is the most important comparison figure. Under section 16 of the Price Indication Ordinance (PAngV) it includes all costs and is therefore the only valid yardstick when comparing loans.
Effective rate vs. borrowing rate
The borrowing rate (Sollzins, also called the nominal rate) shows only the pure interest cost. The effective rate, by contrast, also takes into account:
- Processing fees
- The method by which repayments are offset
- The payout rate in case of a discount (Disagio)
Not included are optional extras such as express or service options. With short-term mini loans in particular, these can cost more than the interest.
Calculation example
Loan amount: €1,000 | Term: 12 months
| Provider | Effective rate | Monthly instalment | Total cost |
|---|---|---|---|
| GIROMATCH | from 1.99% | €84.23 | €1,010.76 |
| Verivox | from 2.99% | €84.68 | €1,016.16 |
| auxmoney | from 4.02% | €85.15 | €1,021.80 |
Difference between the three best rates: €11.04 (financeAds data, as of October 2026). If you do not have the best credit standing you will pay more – the 2/3 rate in the representative example is what counts. (The "2/3 rate" is the rate that at least two thirds of customers actually receive, as required by section 17(4) PAngV.)
Important to know
With mini loans the interest is often secondary to the additional fees. Pay particular attention to:
- Express and service options: at Vexcash the "Smart package" for priority processing costs €69 per month and is not included in the effective rate (without Smart, processing takes 8–10 working days according to the provider). Cashper pays out standard loans within 5 working days and only states the prices of its service options in the application.
- 2-instalment option: at Cashper it spreads repayment over 60 days – check in the application whether this involves extra costs.
- Credit-dependent rates: the 2/3 rates under section 17(4) PAngV are usually well above the advertised "from" rate.
Market update October 2026: Vexcash (Vexcash AG, Berlin; lender AS Magnetiq Bank) continues to grant mini loans: €100 to €3,000, for new customers up to €1,000 and up to 3 months, effective annual rate 11.13 %. Representative example according to the provider: €500 over 3 months costs €11.62 in interest – a single month of the Smart package (€69) costs almost six times as much.
Providers compared in detail
Our comparison is based on current data from FinanceAds (October 2026) and the information on the providers' own websites. Selected providers at a glance:
GIROMATCH – personal loans from €100
GIROMATCH advertises a starting rate of 1.99% effective (2/3 rate in the representative example: 4.88 %). The Frankfurt am Main-based company arranges loans from various partner banks and so often finds particularly good terms. Ideal for borrowers with a good credit standing.
- ✅ Very low rates from 1.99%
- ✅ Loans from €100 to €100,000
- Depends on credit standing – the best rates only with a good SCHUFA record
Verivox – loan broker
Verivox is a well-known German comparison portal and arranges personal loans from 2.99% effective. The advantage: Verivox automatically compares the offers of many banks and often finds good terms.
- ✅ Wide choice of banks
- ✅ Enquiry about terms is SCHUFA-neutral
auxmoney – loan from private investors
auxmoney is a loan marketplace; the loans are paid out via a partner bank and funded by private and institutional investors. This can be an option even with an average credit standing. Rates start at 4.02% (€1,000, 12 months) but can be considerably higher – the range goes up to over 19 %.
- ✅ Possible even with an average credit standing
- ✅ Loans for self-employed people
- A large gap between borrowing and effective rate is possible – compare the effective rate
Cashper – short-term mini loan with service options
Cashper is a specialist provider of genuine mini loans with a short term (15–60 days). Unlike classic personal loans, Cashper suits short-term financial squeezes with quick repayment.
Cashper terms (according to cashper.de, October 2026)
- ✅ Lender: Bank DiMare Limited (Malta)
- ✅ Net loans of up to €3,000 possible, up to €1,500 for new customers
- ✅ 2-instalment option: repayment in two parts over 60 days
- Faster processing only with a service option – its price is only shown in the application
Caution: high extra costs
The interest on a short-term loan is small – at Cashper a €400 loan over one month costs €4.18 according to the example. A service option for faster payout can cost many times that (at Vexcash, for example, €69 per month). It is not included in the effective rate – always add it to the cost of the loan.
5 important tips & warnings
Quick tips for your mini loan
- Always compare the effective rate: only it shows the real cost (section 16 PAngV)
- Use your right of withdrawal: you have 14 days to withdraw from the contract (section 495 BGB, the German Civil Code)
- Enquiry about terms instead of a loan application: a "Konditionsanfrage" is SCHUFA-neutral
- Check extra costs critically: express and service options make the loan considerably more expensive
- Consider alternatives: an overdraft facility can be cheaper for short-term squeezes
Beware of dubious offers
Avoid providers that promise "loans without SCHUFA" with upfront costs. Reputable lenders never charge fees before payout. BaFin, the German financial regulator, regularly warns about such scams.
Sources & references
All information is based on official and trustworthy sources:
- Deutsche Bundesbank – statistics on consumer credit
- BaFin (Federal Financial Supervisory Authority) – consumer warnings
- Section 16 PAngV – Price Indication Ordinance for loans
- Section 495 BGB – right of withdrawal for consumer loans
- Section 500 BGB – early repayment
- Section 502 BGB – early repayment fee
- cashper.de and vexcash.com – terms, retrieved October 2026
- Consumer advice centres – independent loan advice
Last updated: October 2026 | Editorial team: Kosten.org | Note: This comparison is for information only and does not constitute financial advice.