100,000 euros credit record – Calculator and best alternatives

A € 100,000 loan is among the highest credits that can be claimed directly online. Nevertheless, it is a very popular loan amount, which is taken for large investments. Examples of investments with a € 100,000 loan are modernization work on the home, follow- on financing or self-employment.

Not everyone can take such a high credit. For loans of this size, you must be able to provide the bank with appropriate collateral. Requirements for the high loan amount are above all a clean private credit and a stable and well remunerated employment prove. The bank may also make the granting of the loan dependent on its purpose. If you want to finance an energy modernization of your home with the 100,000 euros, your chances are not bad. Because this increases the value of your property and you can give you security. With a good and comprehensible business plan, such a loan can also serve as an entry into self-employment.

What are the interest and repayment installments for a 100,000 euro loan, you can find out with our loan calculator. We have a duration of 10 years (120 months) preset. Long maturities are common for loans of this amount. With shorter terms, you pay less interest overall, but in return increases the amount of monthly charges. These are then difficult for most borrowers to accomplish.

What is a 100,000 euro loan used for?

Loans over 100,000 euros are often taken in connection with real estate. Very often, this sum is used for follow-up financing. Such loans are usually available on very good terms, as real estate is very popular with banks as collateral. Also, modernization measures are often financed with such a loan. For example, this refers to the installation of a modern thermal insulation or a photovoltaic system.

Many people are satisfied with the credit even the big dreams, such as the dream of a sports car. A loan for car financing grant most banks on good terms, but usually expect additional collateral. Of course, the vehicle itself can serve as security. However, the value of a car drops drastically, especially during the first few years.

The path to self-employment is rarely possible without large start-up capital. Many self-employed people need a 100k Euro loan to build their company. So they can entertain them in the first few months until profits are made. To get a start-up loan in this amount, you should definitely be able to present a very good business plan.

Alternatives to the classic 100k installment loan

Depending on what the loan of this amount is needed for, a public loan from Intrasavings bank may be worthwhile. These are state-run lending institutions for entrepreneurs and individuals, offering people government subsidized loans on this scale. intrasavings bank loans are mainly granted for restructuring measures or start-ups. However, the intrasavings bank also foders training and therefore offers particularly favorable training loans. If you want to treat yourself to a luxury car or simply a longer break without working with the 100k Euro credit, intrasavings bank Kredit is not suitable for you.

Disadvantage of the intrasavings bank loan is however the inflexibility. He can not be repaid early (eg for a heir) and there is no possibility of special repayment. If you want to take on such a high loan amount, you can also request a mortgage lender. These offer the loan financing advice free of charge.

How can I get a 100,000 euro loan?

How can I get a 100,000 euro loan?

A bank does not give out a 100,000-euro loan easily. With this sum, it is not possible to get a loan without private credit query. You should generally refrain from credit checks without credit checks, as interest rates are usually excessively high. In addition, there will certainly be a reason why no bank is willing to grant a cheaper loan.

When lending, it depends on the purpose. Assigned loans are usually given on better terms than a simple installment loan for a luxury vacation. As already mentioned, this sum is often used for mortgage lending. The property is a good security for the bank, which is why mortgage loans or follow-up loans are usually particularly low interest rates.

But regardless of the intended use, certain conditions must be met for a loan of more than EUR 100,000. The bank must make sure that as a borrower you also earn enough money to be able to pay the repayment installments reliably. You do not only have to prove the appropriate salary, but also a stable employment relationship. This usually has to last for at least a year. In addition, it should be an indefinite employment relationship. Here, civil servants mostly have very good qualifications, as they often earn well and work in a non-terminable position. More about civil servant loans can be found at www.beamtendarlehen.de

What should be considered when choosing a loan?

If you take out a 100,000 euro loan, you should absolutely compare the different offers. The differences in interest rates are sometimes dramatic. With a cheap loan, you will ultimately save a lot of money. With a one-hundred-thousand-euro loan with a maturity of 120 months, the repayment installments of the cheap loan are just under € 23 lower than that of a more expensive provider. With 120 installments, you would therefore pay the more expensive provider about 3000 euros too much for your loan (as of January 2019).

When comparing credit, you should also necessarily specify the purpose, as a follow-up financing loan is offered on other terms than a start-up loan or an installment loan at leisure.

In addition, you should weigh the duration of the loan should have. Overall, a loan with a short term costs less than one with a long term. The individual repayment installments are correspondingly high. You should opt for a term in which you do not unnecessarily limit the repayment installments. There should still be an emergency cushion to avoid being in arrears due to unexpected extra costs.

You should also get several offers. The conditions do not automatically apply to you, as your individual creditworthiness can not be taken into account by the computer. Instead, the information refers to the most commonly awarded terms.

As an entrepreneur, it is advisable to seek a start-up loan from intrasavings bank. Only in very rare cases start-up loans are awarded on even better terms.

Interest and monthly installments for a 100,000 euro loan

Credit term Best effective interest rate (as of 11.01.2019) Monthly rate for 100,000 euros
120 months from 3.49% from 985.83, – Euro
108 months from 3.49% from € 1077.75, –
96 months from 3.49% from 1192.84, – Euro
84Monate from 1.59% from 1258,24, – Euro
72 months from 1.59% from 1456.61, – Euro
12 months from 1.59% from 1734.40, – Euro