Ratenkredit

Commerzbank Ratenkredit Reviewed

Commerzbank's Ratenkredit is a classic consumer installment loan for private customers who want to finance a purchase, refinance a more expensive existing loan, or need short-term financial flexibility. The loan can be applied for online and is aimed at customers with a German residence and a checking account that regularly receives salary or pension payments.

Interest and Costs

The effective annual percentage rate (APR) starts at 3.29% and can rise to 12.49% depending on creditworthiness. The underlying fixed nominal interest rate p.a. ranges from 3.24% to 11.83%. Loan amounts between €1,500 and €100,000 can be financed, giving Commerzbank one of the widest ranges among the providers compared here. Depending on the loan amount and term, the monthly installment can range from around €17 to over €17,000.

Terms and Requirements

The term ranges from 6 to 119 months, making it suitable for both short-term bridging needs and long-term financing. No separate processing fee is disclosed on the offer page. In case of early repayment, Commerzbank charges the statutory maximum early repayment penalty: up to 1% of the outstanding amount, or 0.5% if less than one year remains between the early repayment and the originally agreed repayment date.

To be approved, applicants must be at least 18 years old, have a permanent residence in Germany, and hold a German account that receives salary or pension payments. The bank also checks creditworthiness via Schufa; a positive result with no negative entries is required. The bank does not state a specific minimum income requirement on this page.

Pros and Cons

• Attractive entry rate from 3.29% APR
• Very wide loan amount range, from €1,500 to €100,000
• Short minimum term available, from 6 months
• Fully digital online application

• Rate range goes up to 12.49% APR for weaker creditworthiness
• Early repayment is not free, an early repayment penalty applies
• No minimum income stated on the offer page, requirement remains unclear

Verdict

The Commerzbank Ratenkredit stands out with an attractive entry rate and an unusually wide range of loan amounts and terms, from short 6-month loans to long-term financing of almost 10 years. However, anyone planning to repay the loan early should factor in the early repayment penalty, which, unlike with some competitors, is not waived.