Find a loan for employees on probation online: How to secure your financing
15.07.2025
6
Minutes
Katrin Straub
Managing Director at nextsure
A new job, but an urgent purchase is on the horizon? Many banks reject loan applications during the probationary period, but that does not have to mean the end of your plans. Find out how, with the right proof and alternatives, you can still successfully find a loan for employees on probation online.
The topic in brief and concise terms
A loan during the probationary period is difficult, but possible with security such as a second borrower or a guarantor.
Online loan brokers and specialised providers are often more flexible than traditional high street banks and offer higher acceptance rates.
After successfully completing the probation period, you should consider refinancing to benefit from significantly lower interest rates.
The risk of dismissal: Why banks are hesitant during the probationary period
For credit institutions, granting a loan to employees on probation represents a calculable risk. During this usually six-month period, the employment relationship can be terminated by either side with just two weeks' notice. This uncertainty about a stable, long-term income means that many traditional banks reject applications outright. The lack of protection against dismissal under the Protection Against Dismissal Act (KSchG) in the first six months is the main reason for this reluctance. An accurate household budget 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.
Improve your creditworthiness significantly: collateral as the key to a loan
To allay banks’ concerns, you can actively improve your creditworthiness by providing additional collateral. The most effective method is to include a second borrower with a permanent employment contract and good creditworthiness. This person is fully liable for repayment, which reduces the bank’s default risk by up to 80 per cent. Another option is a guarantee, in which a third party steps in if payments are missed. Tangible assets can also improve your chances. The following options are available to you:
Second borrower: A partner or family member with a steady income becomes a co-applicant.
Guarantee: A trusted person guarantees your liabilities.
Security transfer: With a car loan during the probationary period, the vehicle serves as collateral, with the vehicle registration document held by the bank.
Whole-of-life insurance policies or securities accounts: Existing assets can be used as collateral.
By taking these measures, you signal to the bank that repayment is secured even in the event of unforeseen circumstances.
Use specialised providers and online platforms strategically
While traditional banks often have rigid lending guidelines, online loan brokers and specialised providers are more flexible. These platforms work with a large number of partner banks and often use different criteria for credit checks. This makes it possible to find a suitable loan for employees on probation online even without perfect prerequisites. Interest rates here may be one to three percentage points higher, but the chances of approval are significantly greater. An loan despite a fixed-term employment contract is also often easier to obtain from these providers. It is worth comparing the terms and conditions on various portals to identify the best offer.
Short-term financial solutions: mini-loans as a flexible alternative
If you only need a small amount for a short period, a mini loan can be a sensible option. These loans are often granted more easily and more quickly. Providers of mini loans sometimes use different assessment criteria than traditional banks. Here are the typical features:
Loan amount: Usually between €100 and €3,000.
Term: Often short, between 30 and 90 days.
Disbursement: An immediate payout is often possible within 24 hours.
Requirements: The requirements for creditworthiness are often lower than for instalment loans.
However, please note the comparatively high effective annual interest rates, which are not infrequently above ten per cent. Such a quick loan for bills is therefore only suitable for bridging short-term financial shortfalls. For larger purchases, a traditional instalment loan is the better choice.
The digital application process: preparing documents and supporting evidence effectively
A well-prepared application significantly increases your chances of success. Thanks to digital processes such as the online identification procedure, completing the process is quick and straightforward. Have at least your first payslip, your employment contract and recent bank statements ready. A clean SCHUFA report with no negative entries is a basic requirement. A good SCHUFA score, ideally above 95 per cent, signals a high likelihood of repayment. Our expert tip: include an informal confirmation from your employer with the application stating the planned transfer after the probationary period. This can positively influence the bank's decision, even though it is not a guarantee.
After the probationary period: Save thousands of euros by refinancing
If you obtained a loan during your probationary period, it was probably at higher interest rates. Once you are in permanent employment, your credit rating improves significantly. This gives you the opportunity to refinance on significantly better terms. Refinancing means taking out a new, cheaper loan to replace the old, more expensive one. With an outstanding balance of €10,000, reducing the interest rate from nine to four per cent over a five-year term can save you more than €1,300. Be sure to review your refinancing options after six months with the company. With a loan for any purpose, you can respond flexibly to the new, better offers. Request your individual risk analysis now: Have your insurance situation checked free of charge and receive specific recommendations for improvement.
More useful links
On Gesetze im Internet, you can find section 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 companies.
The Federal Statistical Office (Destatis) provides data and analyses on employment and the labour market in Germany.
The Consumer Advice Centre offers useful information and money-saving tips on credit and loans.
The German Bundesbank publishes its financial stability reports here, which provide insights into the stability of the financial system.
The Federal Employment Agency provides information on the promotion of trial employment, particularly for people with disabilities.
FAQ
What documents do I need for a loan application during the probation period?
You will generally need your employment contract, at least your first payslip, recent bank statements, valid proof of identity, and you must be able to provide a positive SCHUFA report.
Does a second borrower really improve my chances?
Yes, considerably. A second borrower with a steady income and good creditworthiness minimises the bank’s risk and is the most effective way to obtain loan approval during the probationary period.
Are small loans easier to get during the probationary period?
Yes, for smaller loan amounts (e.g. up to EUR 5,000), banks are often more willing to approve them, as the financial risk for the institution is lower. However, the assessment is still thorough.
Can I take out a car loan during my probationary period?
Yes, a car loan is often easier to obtain, as the financed vehicle serves as security. The bank usually retains the vehicle registration document until the loan has been fully repaid.
What is the difference between a guarantor and a second borrower?
A second borrower is an equal contractual partner and is liable like the main borrower. A guarantor is only called upon to make payment when the actual borrower no longer meets their obligations.
When should I consider refinancing?
As soon as your probationary period has ended and you have been taken on into a permanent employment contract. Your improved creditworthiness then enables you to negotiate a new loan at significantly lower interest rates.
