Monthly Installment

The monthly installment on a loan is the amount you must pay each month to repay your debt and settle the borrowed amount. In principle, the monthly installment consists of a repayment portion and an interest portion. Fees are often also included and then form part of the respective monthly installment.

We have made it our mission to broker installment loans to private customers. With us you can take out a loan from €3,000 up to €250,000. For this we only need your personal data such as name, date and place of birth, current residence, a valid ID document and proof of your monthly income. To grant a loan we require a minimum net salary of €850. However, even if you fall below this threshold, we are happy to provide an installment loan, but in such cases we request collateral in the form of a guarantee.

Agreeing the monthly installment individually

Our goal is to help you fulfil wishes or make important purchases. We respond individually to your wishes and needs. Your satisfaction is our concern. If you want to apply for a loan through us, you must specify the loan amount and your desired monthly installment.

The higher the loan amount, the higher the monthly installment — or alternatively, the longer the term. It is important to find a healthy balance. The monthly installment should not be set so high that you can no longer cover your living expenses despite the loan payment. At the same time, the monthly installment should be chosen so that the term is not unnecessarily extended.

A comparison or calculation of all your current income and expenses can provide clarity about how much monthly installment you can afford. We at MAXDA are happy to assist you and try to calculate the right monthly installment for you.

Continuous monthly installment for better planning

When the loan agreement is concluded, the loan amount, the interest or interest rate, the term and the monthly installment are agreed and fixed. For our loans both the interest rate and the monthly installment remain the same throughout the entire term. The advantage is obvious: every borrower can calculate exactly from the start and always knows which payments are due.

One security that simplifies financial planning: only the composition of the monthly installment may change over time. The monthly installment consists of an interest portion and a repayment portion. At the beginning of the term the interest portion is still relatively high and the repayment portion is therefore quite low. This changes over time: the interest portion decreases while the repayment portion increases. Nevertheless, the total amount of the monthly installment (also called annuity payment or simply annuity) remains constant for an annuity loan. The annuity loan is often used in mortgage financing. The advantage is that the annuity does not change, but over time less interest is paid and thus more money is available for actual repayment of the loan. Individually, we can respond to your needs and wishes through our diverse offerings.

The repayment phase

Once a loan agreement has been concluded, repayment begins 4 weeks after disbursement of the respective loan amount. We credit the amount to an account you have designated. As a rule, we then debit the calculated monthly installment from this account, or from another account you have designated. This can happen either on the 1st of a month or on the 15th of a month.

Here you can decide individually which date suits you better. For example, it may be important when your salary is credited to the account so that there are no overlaps or even financial bottlenecks. We respond individually to the personal situation of our customers and do everything to ensure that the business relationship runs smoothly.

A loan despite unemployment and negative Schufa

And we also have a solution for seemingly unsolvable cases. We also offer loans without Schufa or loans for the unemployed. A loan without Schufa is possible up to an amount of €3,500. Jobseekers also receive a loan from us if a financially solvent guarantor can act as security. Even with these loans we calculate the monthly installment individually and respond closely to our customers and borrowers and their needs.

Different repayment options

It is very important to choose the monthly installment carefully. Although many people aim to repay their debts as quickly as possible, it would be wrong to overextend yourself. Even with a loan, life should still be possible and affordable. A precise analysis or calculation of monthly income and expenses provides security here.

To find the perfect monthly installment for your financial situation, you can also use an online loan calculator. For the calculator you only need the desired loan amount and you can test different terms and interest rates. However, for mortgage financing there is a separate calculator. Mortgage financing requires additional key data to calculate a suitable installment. Key data for calculating the monthly installment in a mortgage can include the purchase price, the loan amount, information on equity and also the interest rate lock-in period. After the interest lock-in period expires, an outstanding balance may remain in some cases. This remaining debt can be settled with follow-up financing. A new interest rate is then set for the previously chosen term.

With us you also have the option to repay the loan in a single sum. For example, a life insurance policy may mature, or a savings contract, or an unexpected inheritance may provide liquidity. Immediate repayment counts as a special repayment. A special repayment is any repayment that occurs outside of the monthly installment. The possibility of immediate repayment of the loan is always available to us at any time and without restrictions. Another advantage for you.

From application to disbursement within a few days

The processing of your loan application usually proceeds very quickly. Mostly within a few days you will receive your loan agreement. Before that we check your application carefully and tell you which documents we need from you. Then we prepare an offer tailored to you. Our effective interest rate is at least 3.99%, regardless of the respective term. The interest rate itself is then calculated individually, but remains fixed for the entire term.

If your application is approved and you have signed the loan agreement, it usually takes up to 3 business days for the money to be credited to your account. Quickly and without complications we find the right product for you and determine your personal monthly installment. We at MAXDA want to extend a helping hand and walk this path with you.

We will not let you down and are always happy to assist you. We check precisely how we can best help you and which monthly installment is manageable for you without problems and financial restrictions. Only then is there nothing standing in the way of proper loan processing and a pleasant business relationship.