Consumer loans in Germany: how to read and compare offers

In brief

Warning! Borrowing money costs money. Only take out a loan if you can pay the instalment even in a bad month.

You repay a consumer loan (Ratenkredit) in monthly instalments. Offers are compared by the effective annual rate (effektiver Jahreszins), because it includes all costs (1)(2).

This page explains terms and steps. We do not advise whether to take out a loan or which one; the decision is yours.

Compare loans

We do not broker loans. The intermediary is the provider named in the calculator. The calculator is in German; the terms in the table “What to prepare” will help you fill it in.

What to prepare

What to look at

• Effective annual rate. The only figure that makes offers comparable; the monthly instalment alone can mislead (2).
• Rates “from …”. Banks advertise rates “from”; your rate depends on market rates, your creditworthiness and collateral (1)(2).
• Term. A longer term lowers the instalment but raises the total cost (2).
• Payment protection insurance (Restschuldversicherung). It can make the loan considerably more expensive (3). Since 1 January 2025 a consumer loan may not be made conditional on it, and it can be taken out at the earliest one week after the loan (3).

Steps

1. Work out how much you need and what instalment you can pay.
2. Prepare the information from the table.
3. Fill in the comparison in the calculator below. You enter the data yourself.
4. Compare offers by the effective annual rate, for the same amount and term.
5. Check whether the offer includes insurance you did not ask for.
6. Keep the contract, repayment plan and withdrawal information.

Your rights in brief

• You can normally withdraw from a consumer loan contract within 14 days (4).
• You can repay the loan early at any time. The bank’s compensation is at most 1% of the amount repaid early, or 0.5% if less than a year remains, and never more than the interest still due (1)(4).
• You can withdraw from payment protection insurance within 14 days; within 30 days if it covers death (3).
• From 20 November 2026 new rules apply to consumer loans, including stricter creditworthiness checks and a warning in advertising (5)(6).

Please note

This page provides general information and points to a comparison. We do not advise, do not broker loans and do not recommend any specific bank. You fill in the comparison yourself and conclude the contract directly with the bank. If you sign a contract through the comparison, we may receive a commission. If you have debt problems, a local debt advice service (Schuldnerberatung) can help.

Sources (checked 6 and 11 October 2026, in German)

1. BaFin – Ratenkredit: Was zu beachten ist
2. Verbraucherzentrale – Kredite und Darlehen (Stand 28.01.2022)
3. BaFin – Restschuldversicherung
4. Verbraucherzentrale – Kreditverträge: Diese Rechte haben Sie (Stand 19.03.2025)
5. LTO – Bundestag beschließt Gesetz zu Verbraucherkrediten (17.04.2026)
6. IHK Osnabrück – Umsetzung der Verbraucherkreditrichtlinie