In Germany it is not permitted to charge fees for arranging a loan. Loan brokerage must therefore be free of charge. If brokerage fees are nevertheless billed to you, you are better off turning to a reputable, well-known lender that complies with the applicable laws.
The fact that no fee may be charged for arranging loans follows from German consumer-credit law. This is a federal law applicable in Germany that serves to protect borrowers. Under the provisions on loan brokerage, the following rules apply:
1 The consumer does not owe the loan broker any compensation for arranging a consumer loan.
2 The lender’s costs of arranging the loan form part of the total cost of credit; they may not be billed separately to the consumer.
So make sure that no brokerage fees are billed to you when you take out a personal loan, because charging fees for arranging loans is prohibited by law. Processing fees on loans are also uncommon. Some banks do, however, charge account fees. With the Mutuo loan comparison you can compare the best loan offers free of charge and find the personal loan that suits you. Naturally, no fees are charged for arranging the loan.
Go to the Mutuo loan-comparison service
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