Loan for Foreigners in GermanyWithout Schufa History
New to Germany with no Schufa history? This doesn't mean you can't get a loan. This guide explains how foreigners can access financial support in Germany.
Important to Understand
No Schufa = NOT the same as bad Schufa!
An "empty" Schufa is actually better than negative entries. As a newcomer, you simply haven't built a German credit history yet – this is different from someone with payment problems.
Key German Terms You'll Encounter
Understanding the Schufa System
Schufa is Germany's main credit reporting agency. It collects data on how people in Germany handle credit and payments. When you're new to Germany, Schufa has no information about you.
Your Situation as a New Arrival
- •Recently arrived in Germany
- •Valid residence permit (Aufenthaltstitel)
- •Regular income (employment contract)
- •But: No German credit history
Key Points for Expats
- •No Schufa ≠ Bad Schufa
- •Empty Schufa is better than negative entries
- •You can build a Schufa history over time
- •Banks use other factors to assess you
Which Banks Approve Loans for Foreigners?
Not all banks have the same requirements. Some are more open to applicants without Schufa history:
More Flexible
- Online banks and fintechs
- Credit comparison platforms (check multiple banks)
- International banks with German branches
- P2P platforms (e.g., auxmoney)
Often Stricter
- Traditional branch banks
- Local savings banks (Sparkassen) without relationship
- Building societies (Bausparkassen)
Documents You'll Need
Without Schufa data, banks rely on other proof of your financial reliability:
Essential Documents:
- Employment contract (unlimited term is best)
- Salary slips from the last 3 months
- German bank statements with regular deposits
- Valid passport and residence permit
- Rental contract (proof of address)
- Credit history from your home country (if available)
Key requirement: A German bank account is essential. The longer you've been in Germany and the more stable your employment, the better your chances.
Compare Loan Offers Now
Compare different loan providers. Rate inquiries are Schufa-neutral – comparing doesn't affect your score.
* Representative example: Net loan amount €10,000, term 84 months, effective annual interest 3.99% - 9.99% (credit-dependent). This is a brokerage offer.
Building Your Schufa History
Even without taking a loan, you can build positive Schufa entries:
Open a German Bank Account
Gets registered with Schufa. Regular usage without problems = positive history.
Get a Postpaid Mobile Contract
Postpaid contracts are reported. Paying on time = positive entry.
Small Installment Purchases
Buy electronics or furniture on installments and pay punctually!
Rental Contract in Your Name
Shows stability and is sometimes reported to Schufa.
Timeline
After 6-12 months, you'll typically have sufficient history for standard loans.
Practical Tips for Getting a Loan
Start Small
€1,000-3,000 is easier to get approved. Shows reliability for larger future loans.
Add a Co-Borrower
A partner with German credit history improves chances and conditions significantly.
Compare Multiple Lenders
Each bank has different criteria. Rate inquiries are Schufa-neutral.
Be Honest
False information leads to rejection. Consistency between documents is important.
Frequently Asked Questions
Can foreigners get loans in Germany at all?
Yes! Many banks in Germany lend to foreigners. Key requirements: valid residence permit, regular income, and a German bank account. Online banks and credit brokers tend to be more flexible.
Do I need a permanent residence permit?
Not necessarily. A temporary permit often works if the loan term fits within its validity period. What matters more is stable income and an unlimited employment contract.
Are interest rates higher for foreigners?
Not automatically. Interest rates depend on your individual creditworthiness, not your nationality. Without Schufa history, initial rates may be slightly higher, but they improve with positive entries.
How long does it take to build a Schufa history?
After 6-12 months with a German bank account, mobile contract, and punctual payments, you'll typically have sufficient history for standard loans.
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