Loans no longer have to be agreed in a local bank branch today – the application and conclusion can now be completed conveniently from a PC or smartphone. More and more customers use tools like the loan calculator and apply for loans that can be used for purchasing consumer goods, refinancing overdrafts, or financing a car.
The loan calculator on MAXDA.de
The loan calculator on www.maxda.de enables the calculation of individual key figures for your loan. Using the loan calculator and the further process is self-explanatory:
Using the MAXDA loan calculator
- Simply enter the desired loan amount in the loan calculator
- Select the term of the loan you want
- These two values then produce an example monthly installment
- Send us a free loan request
Is the installment the loan calculator shows very appealing to you? Great — then a click on the request button is enough and within moments you will be guided online through the free loan application. Not entirely convinced by the loan calculator numbers yet? You can still submit a non-binding, free loan request with new desired conditions. We process each request individually and are happy to help make your loan wish come true!
What happens after using the loan calculator?
As soon as you have found an offer that fully convinces you, you can proceed to begin the loan application. How this proceeds in detail depends on the chosen credit institution. However, there are a few steps that always need to be completed:
- Fill out the online application
- Submit relevant documents for application review
- Sign the loan agreement after approval
- Send the contract documents to the credit institution
There may also be additional steps. For example, you can make use of a personal consultation by phone. This is particularly helpful if questions about the individual contract terms remain open. You can also get information about alternative products. Note
Regardless of which financial product you sign or which provider you work with: you should carefully review all contract sections! This helps you avoid having to bear unnecessary costs in the event of a problem — for example if no prepayment option was agreed. The credit offer issued by the bank may differ slightly from the MAXDA figures. Banks can adjust any offer at their discretion to your needs. So lower interest rates (in terms of: annual interest rate, monthly installment) or adjusted repayment terms are possible.
Which documents must be submitted for the loan?
As part of a loan allocation, a comprehensive creditworthiness check is always carried out. Credit institutions use a range of information for this. Most of it must be provided by you in the form of the appropriate documents:
- Proof of income
- Employment contract
- Identification
For identification, banks use the PostIdent procedure or the VideoIdent procedure. For the former, it is necessary to visit a post office. An identity verification is issued on site. This is then sent to the bank.
The modern VideoIdent procedure is completed online via a video chat. The employment contract is necessary to prove the duration of the current employment. Many lenders require employment of at least twelve months. Depending on the loan amount, some providers are fairly flexible in this area. Additional documents may be required in some cases, especially for groups who must demonstrate regular income under special circumstances, such as students, retirees, or those receiving funds from an inheritance.
How long does loan approval take?
It is possible to secure positive loan approval within a few hours. However, this is not feasible for every loan. A loan application for a mortgage is considerably more complex than for a typical consumer installment loan. If all documents are submitted completely and correctly, the credit check can be carried out immediately. The borrower is checked for creditworthiness. A SCHUFA inquiry can also be completed by the bank within a few minutes. If the data is satisfactory, a contract is immediately issued and sent to you. The contract must be returned to the credit institution as a signed original. To speed up the process, more and more banks also accept a scanned, digital version in advance. This allows internal loan processing to start more quickly. Final processing is only possible after receipt of the signed original contract. A simple loan application can therefore be implemented within 24 hours. Complex financings, however, can take several weeks:
- Mortgage financing
- Debt restructuring
- Forward loans
What happens if the loan application is rejected?
There are many reasons why a bank may reject a loan application. Often banks try to create an alternative loan offer that adjusts the individual conditions. A changed loan amount or a different term can lead to approval. An adjustment of the interest rate can also turn a rejection into an approval. In such cases, consumers should be flexible — especially for important loan applications. Financing for a new TV can often be postponed by a few months. But when it comes to buying a house, you may be under time pressure. That does not mean you should accept poor conditions. If, due to current income or SCHUFA entries, it is not possible to obtain the desired loan, the project should be put on hold for a few months.
When will I have the money in my account?
Once the loan agreement has been signed and processed by the bank, the funds can often be released within a few hours. But this also depends on the credit institution and the type of loan. A consumer loan with a short term is often in the account within one to three business days. Waiting times of around two weeks are also conceivable. Rarely do waiting times exceed this.
Find a loan without SCHUFA using the calculator?
As a special offer, MAXDA loan brokerage also offers loans without SCHUFA. Interested parties often wonder whether a loan without SCHUFA can be calculated using a loan calculator. Unfortunately, individual factors also play a role in loans without SCHUFA that a calculator cannot adequately consider. At MAXDA, our trained staff always take care of the final consultation and calculation.
For most banks and savings banks active in Germany, the SCHUFA data inquiry is an integral part of the credit check. If negative items are detected, this affects the credit assessment, which is also viewed negatively. With an existing negative SCHUFA entry it is therefore almost impossible to take out a new loan. Not so with MAXDA loan brokerage: the company has found banks that broker loans even with existing negative SCHUFA entries, providing great help for many people. Loans without SCHUFA can be taken out at MAXDA starting from 3,000 euros and can be used individually.
How do banks treat negative SCHUFA entries?
An existing SCHUFA entry is not automatically a death knell for a loan application. More and more banks take the trouble to examine the actual nature of the SCHUFA entry:
- How old is the entry?
- What is the outstanding debt amount?
- What type of debt is outstanding?
It makes a difference, for example, whether you left a mobile phone contract with an outstanding balance eight years ago or whether you are currently behind on payments for an installment loan.
The SCHUFA report gives the bank additional information. For example, it records for a period of ten days whenever a SCHUFA inquiry is made. If several loan applications are submitted within a few days, credit institutions can see this. This usually has a negative effect on the overall assessment. The SCHUFA score assigned by SCHUFA is also visible. It ranges between 1 and 100. The higher it is, the better SCHUFA assesses the creditworthiness. Note: incorrect SCHUFA entries may exist that make loan allocation impossible. You should take the opportunity once a year to obtain a free SCHUFA report. This quickly reveals any incorrect entries. Incorrect entries must be disputed with the creditor who entered them in the register.
How does a loan without SCHUFA work?
Through MAXDA loan brokerage you can take out loans without SCHUFA starting at 3,000 euros. The maximum loan amount is determined by your individual circumstances. The MAXDA calculator helps compare multiple offers. If the credit institution waives a SCHUFA check for the credit assessment, it takes on a higher risk of loss. To compensate, special conditions are applied. A loan without SCHUFA therefore incurs higher base costs in the form of fees. There are also restrictions for possible terms and interest rates as well as the repayment plan. In general, a loan without SCHUFA is therefore more expensive than a classic installment loan.
Which type of loan suits me best?
When choosing a loan, you should consider the circumstances under which it is taken. Several factors determine the specific type of loan:
- Term
- Loan amount
- Purpose of use
An installment loan can be used freely. Whether you want to use the funds to finance a vacation or to renovate the attic does not matter. Installment loans are very flexible in both term and loan amount. With an individual repayment plan you can determine suitable monthly installments.
In addition, an annuity loan is distinguished from a repayment loan. An annuity loan is a loan with constant repayment amounts (installments).
Unlike the repayment loan, the amount of the installment to be paid remains the same over the entire term.
Important: Loan installments should always be planned so that you would still be able to cover them under heavy financial strain — for example during extended illness. Other loans are tied to specific uses:
- Mortgage financing
- Car loan
- Student financing
Different loan types also have different limits. Many credit institutions grant an installment loan up to a maximum amount. This can be between 50,000 and 150,000 euros. For other loan types, such as mortgage financing, there are theoretically no financing limits.
Special loan forms such as a civil servant loan or student loans require that you belong to the respective group. The choice of the right loan is therefore determined by many factors. If you have questions, you should definitely contact an expert at the bank or at MAXDA.
What prerequisites must I meet for loan approval?
Legally, any adult with legal capacity can sign a loan agreement. For bank financing, however, further conditions must be met.
Income for loan approval
Regular income is a basic requirement for granting any loan. Income can be secured through part-time or full-time employment. For loan amounts from 1,000 euros, it is often required that the employment has existed for at least twelve months. The necessary income level for loan approval is also determined by the loan amount. In individual cases, it is even possible to secure a loan with a regular mini-income on a 400-euro basis — for example for continuing education financing. For the self-employed, the loan application is somewhat more complex. Banks require annual income statements for the past three to five years to consider loan financing.
If income alone is not sufficient, there is the possibility to provide collateral. For home financing, it is customary to transfer the land charge (mortgage) for the property to the bank. A pledged asset can be used for car financing. If you are not able to provide collateral yourself, banks work with guarantees. A guarantee requires a third party who guarantees for you and your loan. If you are no longer able to cover the loan costs, the guarantor must cover the costs for you.
Which conditions are determined by the MAXDA loan comparison?
There are many conditions that are relevant for a loan. Individual offers differ according to your personal specifications. Factors decisive for the overall conditions include:
- Loan term
- Loan amount
- Repayment plan
- Type of interest
The chosen combination of these components forms the basis of your loan agreement.
Is the interest rate fixed for the entire loan term?
There are two options for loan interest. You can choose a contract with a fixed interest rate. In this case, the agreed interest rate remains unchanged for the entire term. This rate is slightly above the current market rate. A fixed interest rate is sensible if the market rate is extremely low at the time of contract conclusion. This secures the favorable interest over the entire loan term. If the current key interest rate and thus the market loan rate are rather high, you should consider the alternative of variable rates.
Loan contracts with a variable interest rate adjust the rate at regular intervals to the general interest level. If the rate is very high now, there is a good chance it will fall in the future. There is, of course, the risk that rates will continue to rise, increasing future loan costs — foresight is required here. It is best to consult an expert to make an informed decision.
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Which special clauses should be noted in a loan?
Loan agreements can be quite complex. From the type of repayment to the term: all contract parts are tied to a multitude of conditions and clauses. These serve both the protection of the bank and the protection of the consumer. Some requirements are legally regulated. It is important for you as a customer to know that every loan agreement can be terminated after a period of ten years — even if the original term was set to 15 or 20 years.
When can I repay the loan early?
A prominent clause in loan agreements is the so-called prepayment. It governs whether and to what extent prepayments are possible. This means you can use a larger capital sum on request to reduce loan costs without incurring special charges. If this clause is not present, extraordinary repayment payments are very costly. If the loan is to be repaid in full, however, extra costs always apply. The prepayment clause is set to a deductible. For example, it can be limited to 15,000 euros for a total payment of 100,000 euros. If more than 15,000 euros are paid into the loan outside the contract, additional costs arise.
When is early repayment of the outstanding balance worthwhile?
If you want to terminate a loan agreement early, you should definitely do the math. Whether it is really worthwhile cannot be determined that easily. In principle, there are two options for loan settlement. If you have the capital to pay off the outstanding balance in full, you only need to consider the costs of loan settlement. This can occur, for example, if you receive a large sum through an inheritance or a life insurance payout. Another option is refinancing the loan. Here you use a new loan to repay the outstanding balance. Whether this is worthwhile must be determined by a cost comparison. If the total costs for the new loan are lower than the total costs for paying off the old loan, refinancing is worthwhile.
The main reason for the cost difference usually lies in a change in the key interest rate. This leads to a decrease in the general interest level. The lower the loan interest rates, the lower the total cost of loans.
Aside: What is the key interest rate?
The key interest rate for the eurozone is set by the European Central Bank. The ECB is the financial institution that consumer banks use to obtain their own loans. If these are granted to banks at a low key interest rate, banks can pass on the savings to their customers. This makes it possible for more customers to take out loans — which in turn stimulates the economy. The ECB lowers the key interest rate during economic downturns.
Can I refinance loans from other banks?
Refinancing is possible both within your house bank and with other credit institutions. It makes sense to compare several offers. Present the offers from other banks to your house bank and ask for comparable conditions. Since the bank does not want to lose you as a customer, it is quite possible that counteroffers will be made. This ensures the best price for refinancing.
Which loan types can be refinanced?
In general, any loan can be refinanced. However, it is only actually sensible for a few loans:
- Mortgage financing
- Overdraft
- Installment loans with terms of more than ten years
Mortgage financing incurs enormous costs. Long terms, high fees, and the product's sensitivity to interest rates make it an ideal candidate for refinancing. Properly implemented, you can save several hundred euros per month through refinancing. If your old mortgage comes from a period of high rates, find out whether refinancing is possible. The overdraft is a special type of loan granted on a current account. It is not necessarily necessary to apply for it — it is often automatically granted by the bank. People in overdraft quickly end up in an expensive cycle of debt. The overdraft is offset at the end of the month by salary payments. This reduces the free capital for the coming month and the loan is used again. The associated loan costs are enormous. Therefore, it is possible to cover the costs with a cheaper installment loan. If a classic installment loan has a very long term, refinancing can also be sensible. However, it is common to use a term between two and five years for an installment loan. An exception is car financing, which is between five and seven years.
MAXDA loan brokerage online loans
MAXDA is not a bank that grants loans itself. MAXDA brokers loans from various lenders and makes them available to customers: MAXDA thus acts as a link between banks and customers, with our employees always acting in the interest of MAXDA customers. Through years of contact with many different banks, MAXDA loan brokerage is able to select from different loan offers and thus choose the best offer on the market for customers. For you as a customer, this has the advantage that you only need a single contact person to use an attractive loan offer. At the same time, MAXDA customers do not have to compare loan offers and calculators themselves. You can rely on obtaining one of the most favorable offers on the market. This simple and hassle-free processing is a reason to no longer arrange loans with the local bank advisor, but to rely on internet offers such as the MAXDA loan calculator. In addition to expert advice that is available beyond usual bank opening hours, online loan brokers also offer more favorable interest conditions in their calculators, with which customers can save a lot of money. Depending on the loan amount, interest rate and term, savings of several hundred euros over the total term are possible.
Loan calculator & offers for every need
MAXDA loan brokerage offers the right loan for almost every need. For applicants who want to buy, for example, a new car or new furniture, MAXDA offers the classic instant loan. The instant loan can be applied for loan amounts from 3,000 - 250,000 euros, so it can be used both as a small loan and as a larger loan for corresponding purchases. In any case, the MAXDA instant loan is granted without a defined purpose of use, so it can be used for almost any eventuality. What the money is ultimately used for does not have to be stated in the loan application or when the loan is later disbursed. Each customer can decide individually for which purposes the loan will be used. The monthly installment for the instant loan is calculated from the desired loan amount and the chosen term. As a rule, the monthly installment decreases as the term increases. An exemplary calculation is provided by the MAXDA loan calculator. Since terms are relatively freely selectable from 12 months, borrowers can influence their loan burden and shape it actively. The MAXDA loan calculator, which can be used free of charge on www.maxda.de, gives a first insight into the monthly loan installments and the burdens associated with the respective loan request.
Civil servant loans for civil servants and employees
In addition to the instant loan, which is one of the most frequently brokered loans by MAXDA loan brokerage, MAXDA also offers civil servant loans. This loan is not only offered to civil servants but can also be taken out by employees of the public sector or by employees in regular employment. A minimum company affiliation of ten years is required, making these financings possible for many applicants and allowing them to be processed on favorable terms. Since the civil servant loan represents an individual special loan, it cannot be optimally represented in the loan calculator; a direct request to MAXDA is advisable. However, the loan calculator does provide a first overview of the relationship between loan amount, term and installment.
Other loan offers from MAXDA
Every customer has very specific requirements for a loan. Accordingly, the range of possible loans is very large. MAXDA covers a variety of special forms in addition to classic installment loans:
- Mortgage financing
- Loans for the self-employed
- Loans for pensioners
- Car financing
- Forward loans
- Follow-up financings
A good financial product is tailored to the individual requirements of customers. Modern banks offer excellent services that provide the customer with high flexibility and are very accommodating. Where consumers were previously put off the idea of taking out a loan, banks today work hard to meet customer needs.
MAXDA loan calculator provides an overview Customers interested in loans and credits from MAXDA loan brokerage can find comprehensive information on www.maxda.de. In addition to the mentioned loan offers, the site also features a loan calculator that can be used free of charge and without obligation. With this loan calculator, loan customers can calculate the monthly installment that would be payable for the desired loan. This allows customers to inform themselves in advance whether the installment would be feasible for them. By changing loan amount and term, it can also be determined what financing amount is possible and what burden to expect. The interest rate used by the loan calculator is based on the average rate that two-thirds of all customers can use. Due to the individual creditworthiness of each applicant, calculated from income and various other factors, the interest rate of the calculator can subsequently move either up or down. A calculation is only possible after submitting the loan application and loan review, but it is provided free of charge. This allows customers to obtain information free of charge via the loan calculator and a request. The option to create a free offer applies to all MAXDA loans.
Apply for loans online afterwards
If you have used the MAXDA loan calculator and found a suitable loan, you can apply for it directly online. A loan request is possible around the clock and can even be made on weekends or public holidays. This gives you enough time to list your personal data and income and submit the application in peace after using the loan calculator. MAXDA loan brokerage staff then review which financing options are available and which conditions can be offered. Based on this data it is then possible to create and send the free and non-binding loan offer to the customer. If the loan offer is accepted, the loan contracts can be issued and the money disbursed. Usually the loan amount is transferred to a German current account and can be used within a few days. Alternatively, MAXDA loan brokerage also offers mail transfer so that the loan allocation is not visible on the current account.
Who is the MAXDA loan calculator suitable for?
The many advantages of the MAXDA loan calculator offer something suitable for everyone. One reason to use the online loan calculator is certainly the convenient handling. It is not necessary to go to the bank and endure long sales conversations with the bank advisor. Here you only receive the information you want. Another reason in favor of MAXDA is the enormous comparison offering. The countless partner offers show current prices. If you wanted to gather this data yourself, it would be a big task. The diversity of the offering is also important. Loans are not only aimed at a specific group. Whether you are a student, retiree, or parent with regular income — the right financial product is waiting for you here. And it can be found with just a few clicks.
Conclusion on the loan calculator
The loan calculator proves to be a versatile modern tool when requesting an online loan, providing a good first overview and supporting the assessment of your own financial situation.
Tip: Use the loan calculator not only to compare online offers. If you have already had a conversation with your bank advisor at a branch, you can compare that offer with others. This way you can quickly see whether switching to a new financial service provider is worthwhile.
Other topics that may interest you: Annuity loan, Repayment, Annual percentage rate
Loan Calculator
Loans no longer have to be agreed in a local bank branch today – the application and completion can now be done conveniently from a PC or smartphone.
More and more customers use tools like the loan calculator and apply for loans that can then be used to purchase consumer goods, refinance overdrafts, or finance a car.
The loan calculator on MAXDA.de
The loan calculator on www.maxda.de enables the calculation of individual key figures for your loan. The use of the loan calculator and the further process is self-explanatory:
Using the MAXDA loan calculator
- Simply enter the desired loan amount in the loan calculator
- Select the term of the loan you want
- These two values then produce an example monthly installment
- Send us a free loan request
Is the installment the loan calculator shows very appealing to you? Great — then a click on the request button is enough and within moments you will be guided online through the free loan application.
Not entirely convinced by the loan calculator numbers? You can still submit a non-binding, free loan request with new desired conditions. We process each request individually and are happy to help make your loan wish come true!
MAXDA loan brokerage online loans
MAXDA is not a bank that grants loans itself. MAXDA brokers loans from various lenders and makes them available to customers: MAXDA thus acts as an intermediary between banks and customers, with our employees always acting in the interest of MAXDA customers.
Through years of contact with many different banks, MAXDA loan brokerage can select from different loan offers and choose the best offer on the market for customers. For you as a customer this has the advantage that you only need one single contact person to use an attractive loan offer.
At the same time MAXDA customers do not have to compare loan offers and calculators themselves. You can rely on obtaining one of the most favorable offers on the market.
This simple and hassle-free processing is a reason to no longer arrange loans with the local bank advisor, but to rely on online offers such as the MAXDA loan calculator.
In addition to competent advice that is available beyond usual bank opening hours, online loan brokers also offer more favorable interest conditions in their calculators, with which customers can save a lot of money. Depending on the loan amount, interest rate and term, savings of several hundred euros over the total term are possible.
Loan calculator & offers for every need
MAXDA loan brokerage offers the right loan for almost every need. For applicants who want to buy a new car or new furniture, MAXDA offers the classic instant loan.
The instant loan can be applied for loan amounts from 3,000 - 250,000 euros, so it can be used both as a small loan and as a larger loan for corresponding purchases.
In any case, the MAXDA instant loan is granted without a fixed purpose of use, so it can be used for almost any eventuality. What the money is ultimately used for does not need to be stated in the loan application or at the later loan disbursement.
Each customer can decide individually for which purposes the loan will be used. The monthly installment for the instant loan is calculated from the desired loan amount and the chosen term. As a rule, the monthly installment decreases as the term increases. An exemplary calculation is provided by the MAXDA loan calculator.
Since terms are relatively freely selectable from 12 months, borrowers can influence the loan burden of their new loan and actively shape it.
The loan calculator from MAXDA, which can be used free of charge on www.maxda.de, gives a first insight into the monthly loan installments and the burdens associated with the respective loan request.
Civil servant loans for civil servants and employees
In addition to the instant loan, which is one of the most frequently brokered loans by MAXDA loan brokerage, MAXDA also offers civil servant loans. This loan is not only offered to civil servants, but can also be used by employees of the public sector or by employees in regular employment.
A minimum company affiliation of ten years is required, making these financings possible for many applicants and allowing them to be processed at favorable conditions.
Since the civil servant loan is an individual special loan, it cannot be optimally represented in the loan calculator, so a direct request to MAXDA is advisable. The loan calculator, however, provides a first overview of the relationship between loan amount, term and installment.
Find a loan without SCHUFA using the calculator?
As a special offer, MAXDA loan brokerage also offers loans without SCHUFA. Interested parties often ask whether a loan without SCHUFA can be calculated using the loan calculator.
Unfortunately, individual factors also play a role in loans without SCHUFA that a loan calculator cannot adequately consider. Therefore, the final consultation and calculation at MAXDA are always carried out by our trained staff.
For most banks and savings banks active in Germany, the SCHUFA data inquiry is part of the credit check. If negative items are detected, this affects the credit assessment. With an existing negative SCHUFA entry it is therefore almost impossible to take out a new loan.
Not so with MAXDA loan brokerage: the company has found banks that broker loans even with existing negative SCHUFA entries and thus provide great help for many people. Loans without SCHUFA can be taken out at MAXDA starting from 3,000 euros and can be used individually.
MAXDA loan calculator provides an overview
Customers interested in loans and credits from MAXDA loan brokerage can find comprehensive information on www.maxda.de. In addition to the mentioned loan offers, the site also features a loan calculator that can be used free of charge and without obligation.
With this loan calculator it is possible for loan customers to calculate the monthly installment that would be payable for the desired loan. This allows customers to inform themselves in advance whether the installment would be feasible for them.
By changing loan amount and term, it can also be determined what financing amount is possible and what burden to expect. The interest rate used by the loan calculator is based on the average rate that two-thirds of all customers can use.
Due to the individual creditworthiness of each applicant, determined by income and various other factors, the interest rate of the loan calculator can subsequently move up or down. A calculation is only possible after submitting the loan application and loan review, but it is provided free of charge.
This allows customers to obtain information free of charge via the loan calculator and an inquiry. The option to create a free offer applies to all MAXDA loans.
Apply for loans online afterwards
If you have used the MAXDA loan calculator and found a suitable loan, you can apply for it directly online. A loan request is possible around the clock and can even be made on weekends or public holidays.
This gives you enough time to list your personal data and income and submit the application after using the loan calculator in peace. MAXDA loan brokerage staff then review which financing options are available and which conditions can be offered.
Based on this data it is then possible to create and send the free and non-binding loan offer to the customer. If the loan offer is accepted, the loan contracts can be issued and the funds disbursed.
Usually the loan amount is transferred to a German current account and can be used within a few days. Alternatively, MAXDA loan brokerage also offers mail transfer so that the loan allocation is not visible on the current account.
Conclusion on the loan calculator
The loan calculator proves to be a versatile modern tool when requesting an online loan, providing a good first overview and supporting the assessment of your own financial situation.