Question 1

How does a loan without paperwork work?

Accepted Answer

Modern online loans use digital processes: 1) Digital account analysis replaces payslips - the bank securely checks your account for income verification. 2) Video-Ident replaces branch visits - verify your ID via video call. 3) Digital signature replaces physical signatures. The entire process is paperless and can be done from your phone.

Question 2

Is digital account analysis (Kontoblick) safe?

Accepted Answer

Yes, it's bank-grade secure: Uses PSD2 banking regulations, read-only access (no changes possible), data is encrypted, you control which accounts to share, access is one-time and revocable. Major German banks and FinTechs use this technology.

Question 3

What do I need for a paperless loan?

Accepted Answer

Just 3 things: 1) Valid ID (German ID card or passport), 2) Smartphone or PC with camera (for Video-Ident), 3) Online banking access (for digital account analysis). No printed documents, no copies, no mail required.

Question 4

How long does a paperless loan take?

Accepted Answer

Much faster than traditional loans: Application: 5-10 minutes online. Decision: Often instant (1-2 minutes). Verification: 10-15 minutes via Video-Ident. Payout: 24-48 hours, sometimes same day. Compare to traditional: 1-2 weeks with paper documents.

Question 5

Are paperless loans more expensive?

Accepted Answer

No, often the opposite! Online lenders have lower overhead costs (no branches) and pass savings to customers. Interest rates are the same or lower than traditional branch loans. The digital process is an advantage, not a premium feature.

Question 6

Can I get a loan without SCHUFA?

Accepted Answer

Not from reputable German banks. All licensed lenders must check SCHUFA - this protects both you and the bank. However, you CAN get a loan with moderate SCHUFA issues. Many banks specialize in fair credit. Avoid any lender promising 'no SCHUFA' - it's usually a scam.

Question 7

What happens if Video-Ident fails?

Accepted Answer

Technical issues are rare but handled: You can retry Video-Ident, schedule for better connection, or some banks offer Post-Ident as backup (visit post office with ID). The loan isn't rejected - just the verification method changes.

Question 8

Is the digital signature legally binding?

Accepted Answer

Yes, fully legal in Germany and EU. Electronic signatures (eIDAS regulation) are legally equivalent to handwritten signatures for consumer loans. The signed contract is stored securely and you receive a copy via email.

Online LoanNo Paperwork

100% Digital Process

Traditional vs Digital Loan

Traditional Bank Loan

Digital Online Loan

Apply 100% Digitally

Frequently Asked Questions

How does a loan without paperwork work?+

Is digital account analysis (Kontoblick) safe?+

What do I need for a paperless loan?+

How long does a paperless loan take?+

Are paperless loans more expensive?+

Can I get a loan without SCHUFA?+

What happens if Video-Ident fails?+

Is the digital signature legally binding?+

Ready for a Paperless Loan?

More Loan Comparisons