Consultations have been held with the Commission regarding the following matters:

In the realm of personal finance, 5,000 € loans can provide a valuable solution for various needs. Here's a breakdown of what you need to know about these loans.

Firstly, users can apply for a 5,000 € loan directly from a credit comparison site after comparing terms and providing personal and income information. The application process is straightforward, and these loans are known for their simplicity due to fewer formalities.

Once approved, the loan amount will be received within a few days after the contract is signed. It's important to note that banks do not typically ask for the purpose of the loan, offering borrowers the flexibility to use the funds as they see fit.

The repayment term for a 5,000 € loan is usually between 12 to 48 months, providing borrowers with ample time to repay the loan. If needed, additional loan repayment can be made without penalty.

Interest rates for a 5,000 € loan are around 6-10% for a term of 2 years, as of 21.03.2025. However, it's worth mentioning that as of December 2023, the interest rate was around 7%.

Banks are obligated to include the costs of residual debt insurance in the effective annual interest rate if the loan is tied to the insurance. But if the user requests the insurance separately, it's not included in the rate. Residual debt insurance covers loan repayment if the user cannot pay due to illness or unemployment, but it may not be obligated to disclose costs if requested by the user.

Common uses for a 5,000 € loan include furniture and kitchens (12%), consumer electronics and computers (9%), settling an overdraft (8%), vacations, dental work, further education, or business startups. In 2024, most customers used a 5,000 € loan for a new car (21%) or a used car (26%).

For those with negative SCHUFA entries, a detour via Switzerland is possible, but it results in higher interest rates for a 5,000 € loan.

Additional services in the loan agreement, such as residual debt insurance, are recommended to protect against financial difficulties. However, it's always a good idea to understand the costs associated with these services.

Many banks offer more favorable conditions for online 5,000 € loans due to lower costs. The credit calculator allows users to compare offers for a 5,000 € loan based on chosen purpose, repayment terms, and additional options.

Users of installment loans have an average of two contracts and pay monthly installments of a total of 310 €. A payment pause option allows users to skip a payment if they're having financial difficulties.

It's crucial to remember that a creditworthiness check is in the interest of the customer, as stated by Stephan Moll from the banking association.

In Germany in 2025, most €5,000 loans are used primarily for flexible purposes such as purchasing new furniture, funding vacations, or covering short-term expenses, categorized as "free use"; other common uses include car purchase loans, home modernization, and loan refinancing.

In conclusion, 5,000 € loans can be a practical solution for various financial needs. With a straightforward application process, flexible repayment terms, and a range of uses, these loans offer a viable option for many. As always, it's essential to understand the terms and conditions before applying.