Instant Loan In Germany [Sofortkredit]

Key takeaways

• Instant loans are not a different product. They are normal installment loans. Banks use the term instant or express loan for marketing purposes.
• You don’t get a loan in 10 minutes in Germany. 
• If you have a savings account at a bank, you may get a small loan (500 to 3000 €) within a few minutes after applying online.
• You should only get an instant loan for essential expenses or emergencies. 

This is how you do it

• Compare the loan offers on comparison portals: Verivox*, Finanzcheck*, and Check24*.
• Never take too much credit that you can’t afford or repay on time.
• Ask your family or friends for money in emergencies.

Table of Contents

What is an instant loan (Sofortkredit) in Germany?

An instant loan is like any other installment or personal loan in Germany. It’s not a product of its own. 

Many banks and online portals use the term instant loan or express loan (Sofortkredit) for marketing. It doesn’t mean that you’ll get a loan in 10 minutes.

Many banks and online portals use the term instant loan, flash loan, or express loan (Sofortkredit) for marketing. It doesn’t not mean that you’ll get a loan in 10 minutes.

These loans are not released faster compared to standard loans. Instead, banks can now process loan applications faster with the help of technology. For example, verifying your identity in real-time, automated credit scoring, etc.

Technology enables banks to quickly approve and release loans. Still, the banks do their due diligence before releasing the credit.

In 2022, banks lent around 234.8 billion euros as consumer loans in Germany. It was the first time since 2019 that consumer credit increased slightly across banking groups [1] [2].

However, this was followed by a slight decline in 2023, when consumer credit fell by 0.3% (0.8 billion euros) to 233.6 billion euros [3]. In 2024, consumer credit rose again by 0.3% (0.6 billion euros) to 235.3 billion euros [4].

How do you get an instant loan in Germany?

1. Compare the loan offers on comparison portals: Verivox*, Finanzcheck*, and Check24*.
2. Fill out the required information and get loan offers based on it.
3. Apply to the offer you find best directly on the portal.
4. To get the loan as quickly as possible, you should provide all the information and proof to the bank while applying. This avoids back-and-forth communication and saves time.
5. The bank will also ask you to verify your identity. Most banks offering instant loans allow Video-Ident to speed up the process.
6. Once approved, you will sign the contract and get the funds within hours or 1-2 business days.
7. Once approved, you will sign the contract and get the funds within hours or 1-2 business days.

NOTE: You can compare as many offers as you want on comparison portals, but apply for the one that you find the best. Never apply for multiple offers on the same or different portals. It affects your Schufa score negatively.

The fastest way to get an instant loan in Germany

You can get a loan immediately from the bank with which you have a savings account. You can apply for an instant loan directly in the bank’s mobile app or website.

As the bank already has all your information, you can get the money in just a few minutes after applying. However, the loan amount usually ranges from 500 to 3,000 €, depending on the bank and your profile.

You should get a savings account if you don’t have one. Nowadays, you can get up to 3.1% (as of Nov 2025) interest on your money in a savings account. Some non-German banks even offer higher interest rates [6].

You can compare different savings accounts and the interest you can get on here*. 

How can you speed up the loan application process?

Here are the things you can do to speed up the credit application process.

• Apply early in the morning. Applications completed before noon are more likely to be reviewed the same day.
• Apply to fully digital lenders. This saves you time from manual steps (e.g., going to the bank).
• Grant access to your checking account: You can allow the lender to access your bank details via a secure API. Make sure that this is the account where you receive your salary and pay your expenses. The information about your income and expenses helps the lender make a decision. If you use this method, you often don’t even have to provide account statements, salary slips, etc. Moreover, you can get the credit amount in your account within 24 hours.
• Use video ident to identify yourself: You can either go to a post office with your personal ID or use the video ident method to identify yourself. Using the video ident method can easily save you 1 to 2 days of processing time.
• Digital signature: Many banks now accept digital signatures. Some even utilize verification codes to let you confirm the contract easily. With these options, So, you don’t have to print the contract, sign it, and post it to the bank.
• Provide all the information and upload the documents requested in the comparison portal or bank. We have also created a checklist that you can use to prepare the documents you need for a loan application in Germany.

Again, you can use these methods to speed up any loan you take out in Germany. It has nothing to do with instant loans.

When does taking an instant loan make sense?

You want an instant loan when you have an emergency and need the money immediately. It’s suitable for

• Urgent expenses (e.g., hospital bills, car repair)
• Short-term cash gaps (e.g., salary delays)
• Avoiding bigger financial consequences (e.g., overdue charges, losing huge discount)

However, you should only take the loan that you can repay on time.

What are the requirements for getting an instant loan in Germany?

As said before, instant loans are not a new product. They are like any other installment loan you take from a bank. So, your eligibility to get one is the same as that of any other loan in Germany.

• You must be at least 18 years old.
• You have a residence in Germany. It’s better if you have a permanent residency card.
• You have a stable income (permanent job or self-employment). 
• A valid identity card or passport
• A good Schufa score
• A German bank account where the loan should be paid. We find C24* the best bank to offer free checking accounts in Germany as of 2025.

How to open a bank account in Germany ->

Best bank accounts in Germany ->

How do banks check your creditworthiness?

Banks consider the following while assessing your creditworthiness.

• Your Schufa score. A negative score usually leads to a higher interest rate or a rejected loan application.
• Residual income (Income minus expenses)
• Resident status: You have a better chance of getting a loan if you have permanent residence than a blue card or a temporary visa.
• The purpose of a loan is also important for banks. If you can give them collateral, it reduces the risk for the bank and increases your chances of getting the loan.

Are there other ways to get an instant loan in Germany?

Here are the alternatives to an instant loan.

• Ask for a loan from friends or family: The best and cheapest way to get a loan in an emergency is to ask your friends and family. You don’t need to go through an identity check and the paperwork, and you can get the money in your account the same day. However, make sure that you put the loan terms in writing.

Download free private loan contract here ->

• Employer loans: Some companies offer employees loans or salary advances with no interest.
• Peer-to-peer (P2P) lending: Online platforms like Auxmoney connect borrowers with private investors or companies.
• Buy Now, Pay Later: Suppose you need to make urgent online purchases. You can use platforms like Klarna or PayPal that allow deferred payments.
• Credit card: Many credit cards offer installment payment options. You can use this option to borrow money on your credit card.
• Short-term loans allow fast payouts, but they have high interest rates and additional fees. You can apply for a short-term loan from
  • Cashper*: Get up to 1,500 € loan. You can choose a repayment period of 30 or 60 days.
  • Vexcash Existing customers can get up to 3,000 € loan, which you can repay within 90 days. Credit checks are done, but you can still be approved even with a moderate rating.

How do you get a short-term loan in Germany ->

• Overdraft (Dispo): You can overdraw your checking account in an emergency. However, you have to repay this quickly to avoid paying high interest rates.

Compare banks that offer an overdraft facility in Germany ->

• Revolving credit (Rahmenkredit): You set up the credit agreement in advance and access the funds when needed. Repayments are flexible, and you only pay interest on the amount you actually use.

How do you save on loan costs in Germany?

• Compare the loan offers on comparison portals: Verivox*, Finanzcheck*, and Check24*.
• Consider the loan term carefully. Shorter terms usually mean higher monthly payments but lower total interest paid over time.
• Avoid unnecessary add-ons, such as residual debt insurance.
• Get the option of special repayments. With this option, you can pay an additional amount on top of your monthly installments to repay the loan. As you repay the loan early, you pay less interest overall.
• Check the interest calculation method carefully. We have explained different interest calculation methods used by German banks here.

Tips to improve your chances of getting an instant loan in Germany

• Choose a realistic loan amount. Smaller amounts are lower risk for lenders and often easier to get approved.
• Select an appropriate loan term. Shorter loan terms reduce risks for the bank and offer lower interest rates than longer loan terms. 
• Adding a co-borrower can increase household income and improve your chances of approval.
• Include a guarantor to reduce the bank’s risk.
• Regularly check your Schufa score for errors or outdated entries. If you find discrepancies, correct them immediately.
• Manage your debts responsibly. Avoid applying for multiple loans at the same time and keep existing debts under control. Having high outstanding debts is a huge risk for the lender.

FAQ

References

• https://de.statista.com/statistik/daten/studie/447562/umfrage/marktanteile-an-konsumentenkrediten-in-deutschland-bankengruppen/
• https://finanzbericht.dsgv.de/downloads/Finanzbericht_2022.pdf
• https://finanzbericht.dsgv.de/downloads/Finanzbericht_2023.pdf
• https://finanzbericht.dsgv.de/downloads/Finanzteil_2024.pdf
• https://www.finanztip.de/kredit/sofortkredit/
• https://www.handelsblatt.com/vergleich/tagesgeld-vergleich
• https://www.she-works.de/finanzen/liquiditaetsengpass-sofortkredit-als-schnelle-hilfe/2024/09/23/
• https://www.sueddeutsche.de/finanzvergleich/kreditvergleich/sofortkredit/
• https://www.sberbankdirect.de/de/aktuelles/sofortkredit-grundlegende-tipps/
• https://www.ftd.de/finanzen/finanzcheck/sofortkredit/
• https://www.test.de/Gewusst-wie-Schufa-Daten-pruefen-4530316-0/