A 630 credit score is bad

How much credit with what income?

How much should my credit be?

Are you considering taking out a loan but do not know whether you can use your income to repay a loan? Financer helps you find out how much credit you can get on your income.

When granting loans, the bank always wants to ensure that you as a borrower can also afford the loan repayment.

The amount of the loan depends not only on your income but also on your expenses, the loan period, your employment relationship and Schufa score.

Disposable Income

Much more important than your monthly income is the amount remaining at the end of the month. If you add up your income and subtract your expenses, you get the disposable income. This amount can be used for loan repayment.

Use loan calculator to save money

Use our loan calculator to find out the amount of the monthly installments. If you have a sufficiently high income and a positive Schufa score, you can secure cheap financing from the Bank of Scotland.

How Much Credit Can You Afford?

Very easily. You pick up a piece of paper, a pen and a calculator and first list all your earnings.

That doesn't just include that Income from your employment and part-time jobs but also Investment income from dividends or rent if you rent out an apartment.

Watch out

Please note that the bank does not accept unemployment benefits as income. Unemployment benefit can legally not for the settlement of the loan payments be used.

When you add up all of your sources of income, you get the total monthly income. Below that you create a second list of your expenses. This includes regular payments like rent, groceries, car, insurance, hobbies, memberships, cell phone bills, internet, account management fees, entertainment payments, retirement plans, taxes, etc.

Take a look at your bank statements and check that all income and expenses have been recorded.

Add a 10% buffer for unpredictable extra payments to your expenses.

The income and expenses are different for everyone. For a better understanding, here is a representative example of a household bill.

Household bill from Thomas

Rewarding salary1,700 EUR
Total revenue1,700 EUR
rent for the appartment 600 EUR
Car (fuel, insurance, tax) 150 EUR
food and beverages 400 EUR
Cell phone and internet 50, - EUR
Fitness club membership 25, - EUR
Sports insurance 25, - EUR
Student Loan Rate 100 EUR
Subtotal1,350 EUR
Buffer for special payments 135, - EUR
Total expenses (including buffer)1,485 EUR
Available amount 215, - EUR

If Thomas compares his income and expenses and includes a 10% buffer, he has 215, - EUR left at the end of the month. He can use this amount for the Settlement of his future Applying creditwithout jeopardizing his finances.

The calculation is set up a little differently for each borrower. However, it will give you an idea of ​​how to calculate your remaining amount.

Loan with 600, - EUR income

Here you will find suitable lenders who will give you a loan with a net income of 600.

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Representative example: 10.36% eff. Annual interest, fixed borrowing rate p.a .: 10.36%, net loan amount 500 EUR, total amount: 504.32 EUR, fees: 0 EUR, monthly rate 504.32 EUR, Ferratum Bank p.l.c.
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Representative example: 7.95% eff. Annual interest, fixed borrowing rate p.a .: 7.95%, net loan amount 500 EUR, total amount: 503.31 EUR, term: 1 month, fees: 0 EUR, monthly installment 503.31 EUR, Novum Bank Limited
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  • Credit from 100 to 3,000 EUR
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Representative example: 14.82% eff. Annual interest, fixed borrowing rate p.a .: 13.9%, net loan amount EUR 1,000, total amount: EUR 1,011.58, term: 1 month, fees: EUR 0, monthly rate EUR 1,011.58, Vexcash AG


Please note that the loan amount as well as the interest rate and other loan conditions depend on your creditworthiness.

How Much Credit Can I Get Without Income?

There is only one lender who will give you a 30 day loan with no proof of income. You can take out a small loan of up to EUR 1,000 at Ferratum Bank.

Loan with 800, - EUR income

If you earn between 500, - and 800, - EUR, your chances of getting an installment loan are rather slim. For low-income borrowers, a mini-loan is granted for a maximum of 30 to 60 days. The credit amount for these loans is usually a maximum of EUR 1,000.

Loan with 1,000 income

Borrowers who earn at least EUR 1,000 per month already have a higher chance of a loan approval. An income of EUR 1,000 is the lower limit for the minimum income that is followed by many banks. People without maintenance can secure a loan of up to EUR 10,000 if they have the appropriate creditworthiness.

Loan with an income of EUR 2,000.00

With a net income of 2,000.00, you already have good opportunities to secure a cheap loan. If you have at least EUR 300 left at the end of the month, you can take out a loan of up to EUR 25,000 for 8 years.

Loan with an income of 4,000 EUR

If you are planning a larger investment, it is advisable to take out a loan with a co-applicant. If you add up the income of two people in the household, the chances of getting a loan of EUR 40,000 or more are quite realistic.

Note the minimum income

Yes there is. Of course, this depends on the type of loan, the loan amount and the amount of repayments.

This is the case with the mini loan for a short time and amounts up to EUR 500 Minimum income of EUR 500 or EUR 700 per month (depending on the loan amount and the lender).

Secure credit without income

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Representative example: 10.36% eff. Annual interest, fixed borrowing rate p.a .: 10.36%, net loan amount 500 EUR, total amount: 504.32 EUR, fees: 0 EUR, monthly rate 504.32 EUR, Ferratum Bank p.l.c.

With ordinary personal loans at your disposal, a Minimum income of EUR 1,000 or EUR 1,200 required.

In the case of loans without a Schufa query that are financed through foreign banks, income is the most important credit rating criterion. Usually you have to at least 1,100 EUR net income prove to even qualify for a loan. As the number of people in the household who are required to maintain increases, so does the minimum income requirement.


The most important thing here is that the loan does not worsen your financial situation. If you have too little after all expenses have been deducted, a loan is not a suitable solution.

Get inspired with our 195 tips for saving money and increasing your savings amount.

Increase repayment term for low income

Don't you have a lot of money left at the end of the month? Then you increase the term of the loan and thus lower the monthly payments.

This strategy naturally results in longer loyalty and higher interest rates. However, you need to find the right balance for yourself.

Would you like to take out a loan for three or five years? Think about the situation you will be in three or five years from now and make a decision accordingly.

You should meet the following requirements

You now know what role your income plays in lending. However, that's not the only factor to be aware of.

Schufa score

Are you familiar with your Schufa score?

No? Then apply for a free Schufa information. Once a year everyone has the right to view their Schufa rating free of charge.

Why should you care?

Because the Schufa value in particular plays a significant role in checking your creditworthiness. With every loan request, the lender must check your Schufa data to ensure that you can meet your payments. Schufa collects relevant data on your payment behavior and assigns one based on this Credit score. This determines whether you will get a loan at all and on what terms.

If you know your Schufa score, you can take steps to improve your creditworthiness and thus Negotiating better loan terms. Tips on how to improve your Schufa score can be found here. Under certain circumstances, you can also request that your negative Schufa entries be deleted.

Employment relationship and profession

If you are in permanent employment or do not have a steady income, it is usually more difficult to get a loan.

You can find the reasons for a loan refusal, along with appropriate solutions, in our article: Credit declined what can i do.

Stricter requirements for freelancers

Self-employed and freelancer don't have it easy. As part of the credit check, you must Submit income tax assessments and the business analysis.

This is very difficult, especially for people who are starting out on their own. If you belong to this professional group and cannot get a loan from the bank, there is another option: take out a loan from private individuals. Here the interest rates are a bit higher, but also the chance to get a loan. You can find everything about this form of financing in our article Self-employed loan.

If you are in a secure job with stable income, this factor should not be a problem when it comes to lending.

Loan collateral increases your credit opportunities

If you are on a low income, you should try Increase your earnings, with a part-time job or by cutting your expenses.

In borderline cases you can use the joker play and collateralfor your loan offer. If you have a property, a plot of land or a car, you can indicate this as security. In the event of insolvency, your assets will be pledged.

On the other hand, this collateral gives you better credit conditions, such as greater flexibility in repayments or lower interest rates. When you offer collateral, you also ask for something in return.

Loan despite low income

Have you just entered the world of work and only have a low income? Then you should try to increase your income first. Here you can find out how you can earn money on the side and thus increase your income. Another good tip is to cut your monthly expenses.

If you do both of these tasks properly, there are two additional options that will increase your chances of getting a loan approval.

You are looking for a guarantor or co-applicant who meets all creditworthiness criteria. You can find more information about the loan with guarantor here.

Guarantor vs. co-applicant

The difference between guarantor and co-applicant is that the surety does not have the loan amount, while a co-applicant receives the same rights of disposal as the borrower.

If your income is too low, try yours first To multiply moneybefore you decide on a loan. A loan can do more harm than good in a difficult financial situation. Always make sure you have the Also repay loan repayments regularly and on time can. Use our credit comparison and compare the interest rates and the conditions of the credit providers. Only those who compare can be sure of receiving the best possible conditions.