A loan without Schufa information is a proven way to significantly increase your financial flexibility. If funds are tight for a purchase and another installment loan with monthly payments is needed, entries at Schufa can accumulate. Especially with an instant loan, a quick decision by the bank is often desired so that the disbursement can happen as soon as possible. With a loan without Schufa information the lender does not record the information about the loan with Schufa.
Schufa (Schutzgemeinschaft für allgemeine Kreditsicherung) otherwise works almost seamlessly with all German credit institutions by providing information about the financial actions of potential debtors. In return, banks and department stores, among others, inform Schufa about any loan grants. With a loan without Schufa information this does not happen. The lender therefore does not report the new loan to Schufa and also does not request a creditworthiness check from Schufa.
By being independent of Schufa, loans without Schufa information enable many people to move significantly larger loan amounts than would be possible with regular loans. A negative Schufa report can otherwise quickly lead to the loan being denied. Larger loan amounts, however, also come with longer terms, which can span not only months but also years.
And these advantages come with a loan application for a loan without Schufa information from the provider MAXDA:
- Effective interest rate from 3.99% (also called the annual percentage rate)
- No entry at Schufa
- Loan amounts from €3,000
- An income of at least €1,150 is sufficient (the income information does not protect you from choosing monthly instalments that are too high)
- Loans without Schufa information are particularly useful when several larger expenses are pending and it is already foreseeable that the bank will not approve a correspondingly high loan amount due to negative entries at Schufa.
What does “Schufa information” mean?
Many credit transactions that do not initially appear as such are offered to customers very quickly and conveniently in everyday life. The companies that grant a loan want the assurance that the chosen loan instalments or the bill can be paid within the planned term. Therefore, a credit check with Schufa takes place before a loan is approved and the money is disbursed. In short, Schufa checks your creditworthiness and gives credit institutions information about whether you have a positive or negative entry with Schufa.
Schufa as a credit agency bundles information on the payment behaviour of over 60 million people in Germany; simply put, a positive Schufa report creates trust and a loan can be granted. With a negative entry at Schufa, the provider's trust decreases and a loan application is more quickly rejected.
Schufa also calculates a score value that reflects the borrower's creditworthiness. This score should be as close to 100 as possible. The probability of default is lowest at Schufa with a score of 100.
If the Schufa report should not be requested, for example so that your own bank does not learn about the loan, MAXDA as a loan broker can support with a loan without Schufa information.
Affordable loans without Schufa information
If the appropriate creditworthiness is given, you can quickly and easily access amounts from €3,000 with a loan without Schufa information through the loan broker MAXDA.
There is now an almost unmanageable range of offers even for loans without Schufa information. Therefore, it is advantageous to leave the search for the cheapest loan without Schufa information to trained and experienced experts.
Loans should be checked in terms of their interest rates, monthly instalments and term. A comparison always pays off for the consumer. Different heights of loan instalments can require different terms and interest rates.
Processing for the MAXDA loan
To receive a favourable offer for a loan without Schufa information, you only need to fill out a short form. Afterwards you will receive a non-binding offer that you can consider calmly at home. All questions concerning Schufa-free loans are answered by friendly MAXDA advisors on the service hotline.
An affordable loan without Schufa information is a good solution for many borrowers, since the strong influence of Schufa and the rigid lending practices of banks often stand in the way of taking out a loan. With a loan without Schufa information, you can easily avoid Schufa exerting control over your personal credit limit.
Conclusion: Loans and Schufa information
In principle, every borrower is free to request the desired loan with or without Schufa information. This should always be weighed up according to the personal situation and one’s own preferences.
Loan applicants should keep in mind that their own Schufa file may not be as burdened as they initially think. In this case, if a larger loan is desired, alternatively a loan with Schufa can also be requested.
