SWK Bank
Experiences, reviews and information about the provider
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Details
Pros
- Free extra repayments on the instalment loan
- Long loan terms and a wide credit range
- German banking licence with BaFin supervision and German deposit protection
- Fully digital application process including online identification
Cons
- Interest rates depend on creditworthiness, the advertised best rate does not apply to everyone
- No current account and no securities business
- No call money in the traditional sense, the savings area is geared to fixed-term deposits
- No branches, advice only by phone and online
Fact sheet: SWK Bank
| Company name | SWK Bank |
| Founded | 1959 |
| Headquarters | Mainz |
| Country | 🇩🇪 Germany |
| BaFin-regulated | Yes |
| Deposit protection | €100,000 |
| Type | direktbank |
| Website | swkbank.de * |
About SWK Bank
Süd-West-Kreditbank Finanzierung GmbH, SWK Bank for short, was founded in Frankfurt in 1959, was based in Bingen am Rhein for decades and is now based in Mainz. It belongs to a medium-sized corporate group and is one of Germany's oldest direct banks, as it has never operated a branch network. The business rests on two pillars: instalment loans for private customers, including debt consolidation, modernisation and car loans with terms of several years and free extra repayments, and business as a back-end and white-label bank through which other banks and intermediaries process their loans. Fixed-term deposit (Festgeld) accounts for private customers are offered as a complement. As a German credit institution, SWK Bank is supervised by BaFin (the German financial regulator); deposits are protected by statutory German deposit protection up to €100,000 per customer.
Special features
- One of Germany's oldest direct banks, founded in 1959
- Works as a white-label and back-end bank for other lenders
- In 2014 became the first German bank to introduce online identification as an alternative to Postident
- Processing partner for, among others, the credit marketplace auxmoney
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