Find a loan for employees on probation online: How to secure your financing
15 Jul 2025
8
Minutes
Katrin Straub
CEO at nextsure
A new job, but you have an urgent purchase to make? Many banks turn down loan applications during the probation period, but this doesn't have to be the end of your plans. Discover how you can still successfully find a loan online for employees in the probationary period with the right evidence and alternatives.
The topic in brief and concise terms
A loan during the probation period is challenging, but it is possible through securities such as a co-borrower or a guarantee.
Online credit brokers and specialized providers are often more flexible than traditional banks and offer higher acceptance rates.
After successfully completing the probationary period, you should consider refinancing to take advantage of significantly lower interest rates.
The Risk of Termination: Why Banks Hesitate During the Probation Period
For financial institutions, granting a loan to employees on probation poses a calculable risk. During this typically six-month period, the employment relationship can be terminated by either party with a notice period of only two weeks. This uncertainty about a stable, long-term income means that many traditional banks categorically reject applications. The main reason for this reluctance is the lack of protection against dismissal under the Dismissal Protection Act (KSchG) in the first six months. A correct household calculation for the loan application is therefore all the more important. These factors often lead to stricter requirements or higher interest rates for the applicant.
Significantly Improve Creditworthiness: Collateral as the Key to a Loan
To address the concerns of banks, you can actively enhance your creditworthiness through additional securities. The most effective method is involving a second borrower with a permanent employment contract and good credit score. This person is fully liable for repayment, reducing the bank's risk of default by up to 80 percent. Another option is a guarantee, where a third party steps in in case of payment default. Assets can also improve your chances. The following options are available to you:
Second Borrower: A partner or family member with a stable income becomes a co-applicant.
Guarantee: A trusted person guarantees your liabilities.
Transfer of Ownership as Security: With a car loan despite probationary period, the vehicle serves as collateral by depositing the vehicle registration document at the bank.
Life insurance policies or securities accounts: Existing assets can serve as security.
Through these measures, you signal to the bank that repayment is secured even in unforeseen circumstances.
Utilise specialised providers and online platforms effectively
While traditional banks often have rigid lending criteria, online credit brokers and specialized providers are more flexible. These platforms work with a variety of partner banks and often use different criteria for credit checks. Therefore, it is possible to find a suitable loan for employees on probation online even without perfect conditions. The interest rates here can be one to three percentage points higher, but the probability of approval is significantly greater. A loan despite a fixed-term employment contract is also often easier to obtain from these providers. It is worthwhile comparing the conditions on different portals to identify the best offer.
Short-term Financial Solutions: Mini Loans as a Flexible Alternative
If you need only a small amount for a short period, a mini-loan can be a sensible option. These loans are often granted in a simpler and quicker manner. Providers of mini-loans sometimes apply different assessment criteria than traditional banks. Here are the typical features:
Loan Amount: Usually between 100 and 3,000 euros.
Term: Often short, between 30 and 90 days.
Disbursement: An immediate payout is often possible within 24 hours.
Requirements: The creditworthiness requirements are often lower than for installment loans.
However, be aware of the comparatively high effective annual interest rates, which often exceed ten percent. Such a quick loan for bills is therefore only suitable for bridging short-term shortages. For larger purchases, a classic installment loan is the better choice.
The digital application process: Optimally prepare documents and evidence
A well-prepared application significantly increases your chances of success. Thanks to digital processes such as the online identification process, the conclusion is swift and straightforward. Have at least the first pay slip, your employment contract, and recent bank statements ready. A clean SCHUFA report without negative entries is a basic requirement. A good SCHUFA score, ideally over 95 percent, indicates a high likelihood of payment. Our expert tip: Include an informal confirmation from your employer regarding the planned continuation after the probationary period with your application. This can positively influence the bank's decision, even if it is not a guarantee.
After the probation period: Save thousands of euros with a debt restructuring
If you received a loan during the probationary period, it was likely at higher interest rates. Once you are permanently employed, your credit rating improves significantly. This opens up the possibility of refinancing at much better terms. Refinancing means taking out a new, cheaper loan to replace the old, more expensive one. With a remaining debt of 10,000 euros, a reduction in interest rates from nine to four percent over a term of five years can mean savings of more than 1,300 euros. Be sure to review your refinancing options after six months of employment. With a loan for any purpose, you can react flexibly to the new, better offers. Request an individual risk analysis now: Have your insurance situation reviewed for free and receive concrete optimization suggestions.
More useful links
On Gesetze im Internet, you will find § 622 of the German Civil Code (BGB) which regulates notice periods in employment relationships.
The official website of SCHUFA provides information on the creditworthiness of individuals and businesses.
The Federal Statistical Office (Destatis) offers data and analyses on employment and the labour market in Germany.
The Consumer Centre provides useful information and savings tips related to loans and credits.
The Deutsche Bundesbank publishes its financial stability reports here, offering insights into the stability of the financial system.
The Federal Employment Agency provides information on the promotion of trial employment, especially for people with disabilities.
FAQ
What documents do I need for a loan application during the probationary period?
You generally need your employment contract, at least the first payslip, current bank statements, valid identification, and must provide a positive SCHUFA report.
Does a second borrower really improve my chances?
Yes, significantly. A second borrower with a stable income and good creditworthiness minimises the risk for the bank and is the most effective way to obtain loan approval during the probationary period.
Are small loans easier to obtain during the probationary period?
Yes, for smaller loan amounts (e.g., up to 5,000 euros), banks are often more willing to give approval, as the financial risk for the institution is lower. However, the review is still thorough.
Can I take out a car loan during the probationary period?
Yes, a car loan is often easier to obtain, as the financed vehicle serves as collateral. The bank usually retains the vehicle registration document until the loan is fully repaid.
What is the difference between a guarantor and a co-borrower?
A second borrower is an equal contractual partner and is liable in the same way as the principal borrower. A guarantor will only be called upon to pay if the actual borrower no longer meets their obligations.
When should I consider refinancing?
Once your probation period is over and you have been taken on in a permanent employment relationship. Your improved credit rating will then enable you to negotiate a new loan with significantly lower interest rates.
