Loan without asking the employer
Anyone applying for a loan in Germany need not fear that the employer will find out about it. That’s none of their business. If such a query actually takes place, it would be a gross violation of data protection. Basically there is a loan in Germany without asking the employer.
What do the banks ask for?
It depends on which bank is applying for a loan. Those who primarily contact their house bank only have to submit the last three income statements from the employer. As a rule, the bank’s clerk knows the client’s professional situation, so that all that is required is proof of the wages or salary slips. Apart from that, the Credit Bureau is of course checked, regardless of the respective income.
The procedure is a little different for internet banks. There is also a loan here without asking the employer, but as proof of employment, the banks require a copy of the employment contract. This is also to ensure that it is not a temporary employment relationship. In such cases, a credit decision will be to the disadvantage of the customer.
When is the employer informed about a loan?
The employer only becomes aware of the loan if the installments have not been paid on time and a dunning procedure has been initiated. If no agreement can be reached during this time, the employer may be seized. Only then will the fact be known.
A loan without asking the employer is the most normal thing in the world. Everyone has the right to apply for such a loan. The decisive factor for the credit decision is the monthly income and good payment behavior. If there is other collateral, such as real estate, that increases the chances of success on a loan without asking the employer.
When can there be a query?
Civil servants, blue-collar workers and civil servants have discounts. This also affects loans. Interest rates are significantly lower and there are other advantages for banks. In this case, however, the employee must prove that he is actually employed in the public service. There is no demand from the employer here, but an employment contract must be submitted in any case. This serves as proof of employment with the state.