How is the loan amount determined?

Whether it is a short-term purchase such as a holiday, a new car or new furniture, or whether you want to use a loan to replace other contracts on favorable terms, or you depend on external financing to buy a property, the loan amount is a central factor in calculating and assessing financing. A loan is always helpful for the borrower when equity is insufficient for the planned expenses due to insufficient income.

Even if you temporarily fall into financial hardship because you need to raise a larger amount at short notice that exceeds your financial means provided by your monthly income, granting a loan in the desired amount by a bank can be the solution.

Calculating the actual financing requirement as the basis for the required loan amount is the first step when taking out a loan. For example, if you need external capital in addition to your equity for mortgage financing—that is, purchasing a property on credit—the required loan amount covers the expenses to be financed for the purchase price, construction or renovation costs, real estate transfer tax and notary fees. In addition, the loan amount should cover the expected construction interest and provide a buffer for unforeseen events.

When financing consumer goods such as furniture or vehicles, the loan amount is more or less based on the purchase price of the item to be acquired. Of course, there is also the option to consolidate existing unfavorable liabilities as part of a loan calculation in order to possibly benefit from better terms. Refinancing an overdraft into an installment loan with monthly payments can provide a considerable monthly relief with the same loan amount.

Limits on loan amount and requirements

In principle, there are no limits when determining the loan amount. Depending on your personal financial situation, MAXDA offers financing between 3,000–250,000 EURO. Granting a loan is possible if you are of legal age and have a regular income. It does not matter whether you are currently employed as a laborer, employee or civil servant, or are already receiving a life-long pension.

In addition, MAXDA also offers financing options for customers who are currently registered as unemployed. In this case, you only provide a solvent guarantor in the loan application so that we can process your request. MAXDA also offers special terms in the form of civil servant loans. Even for loan applications without a Schufa check we can find solutions, as we can provide specialist loans through foreign banks. For such offers, the loan amount is limited to 5,000 EURO per person.

Depending on the loan amount, the term as well as the installments and interest rates are determined. The term can be a few months or can extend over several years. This depends on how high the loan amount is and what monthly installments you can pay with your monthly income. Installments are usually paid monthly and interest rates often remain unchanged during the term.

Applying at MAXDA

The first step in loan processing is your online loan request at MAXDA. Simply use our straightforward online form. After your request with the desired loan amount has been received by us online, you will immediately receive your personal loan application by e-mail and by post.

You will receive information on which details we need to process your loan request. For employees and workers, for example, this would be a legible copy of the most recent pay slip.

Immediately after receiving your loan application, we check your details and the loan amount and contact you right away to discuss your wishes and the options and terms. Therefore, we ask you to provide several contact options such as an e-mail address and telephone number in the loan request so that we can guarantee the fastest possible processing.

Alternatively, we are also happy to advise you personally on site and help you fill out your loan application. We will then find the most favorable loan for your loan amount from many banks.

Processing of the application

Due to our many years of experience as a financial service provider in the field of loan and mortgage financing, we obtain premium conditions from many banks for our customers. MAXDA focuses exclusively on private customer business.

The processing time depends on the type of loan. After submitting your application with the required documents, we will contact you on the same day to negotiate the possible loan amount and the terms with you. As soon as we have found the most favorable offer for you, MAXDA guarantees an immediate, one hundred percent payout. Whether we send you the loan amount by postal cheque or by bank transfer, you will have access to the loan funds as quickly as possible. Only when processing loan applications without a Schufa check do we expect processing to take up to one week.

What basic terms does MAXDA offer?

The entire loan inquiry is of course non-binding and free of charge. Therefore, there are no upfront costs for a loan calculation by MAXDA. We will find the right loan for you from the offers of many banks with premium conditions, even if your case previously seemed hopeless. We are happy to advise you about possible terms and about our offers without prior credit checks with Schufa.

If you are a civil servant or an employee in the public sector or can prove company affiliation of more than 10 years as an employee or worker, you will receive what is known as a civil servant loan from MAXDA, which comes with even more favorable terms, lower interest rates and terms of up to 240 months, i.e., 20 years. The interest rates determined in the loan calculation are fixed for the entire term. This gives you a complete overview of the expected costs from the outset. Repayment of all mediated loans is possible at any time and in full.

What information is likely to be required?

Some personal information is requested when brokering a loan. Of course we need personal details such as name, date of birth, marital status and address. In order to tailor the loan offer optimally to the financial needs but also to the possibilities of our customers and to be able to assess a loan grant, MAXDA requests additional information about the current financial situation as part of the loan application. With a monthly income of at least 850 EURO or 1,130 EURO for loans without a Schufa entry, nothing stands in the way of granting a loan.

We offer loans to jobseekers if they can be secured by a guarantor. Benefit from our many years of experience as an independent service provider in the field of loan and mortgage financing. If you have any questions or suggestions, our advisory team will be happy to assist you by telephone.