Ratenkredit

Ratenkredit from GIROMATCH at a Glance

GIROMATCH is a lending platform that connects private and institutional investors with borrowers (peer-to-peer model). The platform explicitly advertises that it also processes applications from people with a negative Schufa record and states it has already brokered more than 20,000 loans. According to the provider, the initial inquiry is "100% Schufa-neutral," meaning it does not create a Schufa entry.

Borrowing Rate and Effective APR

The product database lists this instalment loan with a best-case rate from 1.97% p.a. (nominal) and from 1.99% effective. The current GIROMATCH offer page additionally shows a legally required representative example: fixed borrowing rate of 3.90% p.a., effective APR of 4.62%. This means the low "from" rate in the database is a theoretical best case for excellent creditworthiness, while the representative example gives a more realistic picture for the majority of customers.

Loan Amount, Term and Costs

The loan amount starts at €100 and, according to the database, goes up to €100,000, while the example calculation on the provider's page shows a range of €100 to €10,000. The term differs notably from the original database entry on the current offer page: instead of a fixed term, GIROMATCH states the term is flexible, typically from 3 months up to a maximum of 120 months (the representative example is based on 4 years). GIROMATCH advertises "no upfront costs or processing fees" - however, the same representative example also mentions a one-time commission of 1.25% of the net loan amount. Anyone interested in the offer should clarify this point before signing, since it is unclear whether this commission is already included in the stated effective APR or charged in addition.

Requirements

Requirements include sufficient creditworthiness, a recommended minimum income of €500 according to the provider, legal age, and an account within the EU. According to GIROMATCH, a negative Schufa entry does not automatically rule out a loan - the platform explicitly positions itself for customers who would not get a loan from traditional banks.

Who This Loan Suits

With its low minimum amount of €100 and openness toward negative Schufa records, this offer particularly suits smaller financing needs and people who find it harder to get a loan from traditional banks. Anyone with very good creditworthiness looking purely for the lowest possible rate may find cheaper best-case rates elsewhere in this comparison.

Pros and Cons

• Very low minimum loan amount from €100
• Flexible terms from 3 to 120 months
• Applications with a negative Schufa record are also reviewed
• Initial inquiry is Schufa-neutral according to the provider
• No upfront costs according to the provider's marketing claim

• Representative example at 4.62% effective APR is well above the advertised best rate of 1.99%
• The representative example also mentions a one-time commission of 1.25% of the net loan amount - unclear whether this is in addition to the "no processing fee" claim
• No fixed absolute maximum loan amount stated on the offer page itself

Verdict

With its peer-to-peer model, GIROMATCH mainly targets borrowers who face obstacles at traditional banks, as well as anyone looking for a small loan starting at €100. The advertised best rate from 1.99% effective only applies to very good creditworthiness - the representative example at 4.62% gives a more realistic picture. Before signing, it is worth taking a close look at the one-time 1.25% commission mentioned in the example.