What is a personal loan (Ratenkredit)?
A Ratenkredit – in English simply an instalment or personal loan, also called a consumer loan – is a loan with no restriction on use: you borrow a fixed amount and repay it in equal monthly instalments. Unlike purpose-bound loans such as a car loan or a mortgage, you can spend the money freely.
The typical features of a personal loan are:
- Fixed rate: the interest rate stays constant for the whole term (fixed borrowing rate, gebundener Sollzins)
- Fixed monthly instalment: you know from day one exactly what you will pay each month
- Predictable term: usually between 12 and 120 months
- No restriction on use: the money can be used for any lawful purpose
How expensive a personal loan is depends mainly on your credit standing, the loan amount and the term. In the current comparison (as of October 2026) the advertised "from" effective rates start, depending on the provider, at under 1 % (a time-limited promotional rate) and go up to just over 6 %. The upper ends of the rate ranges, however, lie between 8 % and almost 20 % at many providers – so unless your credit standing is very good, you should plan with the "2/3 rate" from the representative example rather than the best rate.
How does our loan comparison work?
Our comparison calculator uses live data from FinanceAds, one of the leading affiliate networks for financial products in Germany. This means you always see the latest terms directly from the lenders.
How to use the comparison
- Choose the loan amount you want with the slider (€5,000 – €100,000)
- Choose your preferred term (12–120 months)
- Compare the offers shown by effective rate and total cost
- Click "Go to provider" to request a non-binding offer
Important: all rates shown are "from" rates for customers with the best credit standing. The actual rate is set individually after a SCHUFA check (SCHUFA is Germany's main credit bureau). An initial enquiry about terms (Konditionsanfrage), however, is SCHUFA-neutral and does not affect your score.
Costs and interest explained
There are several interest terms for personal loans that you should know:
Borrowing rate vs. effective rate
The borrowing rate (Sollzins, also called the nominal rate) is the pure interest rate the bank charges for the money lent. The effective annual rate (effektiver Jahreszins, similar to the APR) also includes all ancillary costs and is therefore the more meaningful figure for comparison.
Example calculation: €10,000 loan, 48 months
In this example you pay a total of €820.64 in interest over the whole term. That corresponds to about €17.10 in interest per month (simplified annuity calculation without any other costs).
The 2/3 rate under section 17(4) PAngV
Anyone advertising loans with interest rates or cost figures must state a representative example (section 17(4) of the PAngV, the German Price Indication Ordinance). The effective annual rate given there – colloquially the 2/3 rate – must be chosen so that at least two thirds of the contracts concluded as a result of the advertising are agreed at that rate or a better one. It is often well above the advertised best rate and is therefore the more realistic expectation.
Credit-score-dependent vs. fixed rates
Most banks grant credit-score-dependent loans, where the interest rate depends on your SCHUFA score and income. A few providers offer loans with a rate independent of credit standing, i.e. one fixed rate for all customers – these are often more expensive, but give planning certainty even with an average credit standing.
Selected personal loan providers at a glance
Four providers from the comparison in short profiles. The rate figures come from the financeAds product data (as of October 2026) and can change at any time – only the provider's own offer is binding:
1. GIROMATCH – loans from as little as €100
GIROMATCH is a Frankfurt fintech company that has been arranging loans since 2014. With an effective rate from 1.99%, GIROMATCH is among the providers with the lowest starting rate in the current comparison. GIROMATCH acts as a broker; the loan comes from a partner bank.
- Effective rate: from 1.99%
- Loan amount: €100 – €100,000
- Term: 3 – 120 months (according to the provider)
- 2/3 rate in the representative example: 4.88 % (€10,000, 60 instalments)
2. Verivox – loan broker with many partner banks
Verivox is one of Germany's best-known comparison portals and arranges personal loans from numerous partner banks. The advantage: with a single enquiry you receive offers from several banks and can pick the best one.
- Effective rate, personal loan: from 2.99%
- Turbokredit: from 0.68 % effective – promotional rate for €5,000 to €35,000; the 2/3 rate is 8.38 %
- Loan amount, personal loan: €1,000 – €100,000
- Special feature: enquiry about terms is SCHUFA-neutral according to the provider
3. auxmoney – a loan even with an average credit standing
auxmoney is a loan marketplace from Düsseldorf. The loans are paid out via a partner bank and funded by private and institutional investors. Besides the SCHUFA score, auxmoney takes further data into account in its assessment – this can help with an average credit standing, but approval is not guaranteed.
- Effective rate: from 4.44% (24 months) or from 5.07 % (60 months), depending on credit standing
- Loan amount: €1,000 – €50,000 (according to the provider)
- Separate product for self-employed people
- Note: in the representative example the borrowing rate is 14.30 % and the effective rate 17.73 % – the difference comes from additional costs. That is why you should always compare the effective rate.
4. S-Kreditpartner – the savings bank solution
S-Kreditpartner (S-Kredit-per-Klick) is the online loan offering of the Sparkassen Finance Group (the German savings banks). The lender is S-Kreditpartner GmbH in Berlin; many savings banks also sell the loan in their branches.
- Effective rate: from 5.49%
- Loan amount: €1,000 – €80,000
- Part of the Sparkassen Finance Group
- 2/3 rate in the representative example: 12.99 % (€10,000, 60 instalments)
Tips and warnings
5 important tips
- Always compare the effective rate: only it shows the real cost (section 16 PAngV)
- Enquiry about terms instead of a loan application: a "Konditionsanfrage" is SCHUFA-neutral
- Use your right of withdrawal: you have 14 days to withdraw from the contract (section 495 BGB, the German Civil Code)
- Decline payment protection insurance: it makes the loan considerably more expensive and is rarely worthwhile
- Check extra repayments: you may always repay early (section 500(2) BGB); some banks also waive the early repayment fee (Vorfälligkeitsentschädigung)
Beware of dubious offers
Reputable banks never ask for upfront fees before approving a loan. Be sceptical of offers that advertise "without SCHUFA" or demand fees in advance.
Sources
[1] Act implementing the Consumer Credit Directive (EU) 2023/2225, Bundestag resolution of 17 April 2026 (BT-Drs. 21/1851)
[2] SCHUFA Holding AG: information on enquiries about terms (schufa.de)
[3] Sections 16, 17 PAngV (Price Indication Ordinance) – gesetze-im-internet.de
[4] Sections 495, 500, 502 BGB (German Civil Code) – consumer loan contracts
[5] FinanceAds GmbH: loan comparison API, retrieved October 2026