If you have just moved to Austria, you may now know how to get a loan in Austria. Foreign nationals such as EU and non-EU foreign employees and ex-pats can easily secure a loan in Austria. The requirement should be residence in the country and a consistent income source. Banks will also consider the creditworthiness of the borrower. Read this article to learn all about the loans in Austria for ex-pats and how you can get one.

List of loan providers in Austria

All these loans providers offer different rates and options for different prices. Comparing the specifications of each loan provider can be time-consuming. Are you wondering which provider offers the best deals or the best options? We have listed the most reliable loan companies below while using the following criteria:

✓ English speaking customer service
✓ Good payment rates
✓ Clear contracts (no hidden costs)
✓ Borrowing Range
✓ Fast delivery
✓ Payment Period

Loan Platform	Specifications
	1 Large loan comparison platform with great ratings from their customers. Offers different loans types.	Visit cashper.at
	1 Good loan provider that offers clear terms and interest rate. Same day quotes and fast payment.	Visit Santander.at
	1 Well known bank in Austria. Used by a lot of Austrian inhabitants. Offers good rates – website can be difficult to understand for non-Austrian speakers.	Visit Sparkasse.at

Can a foreigner get an Austrian loan?

As said earlier, both EU and non-EU ex-pats can secure a loan in the country. However, as a foreigner, you will have to apply for a loan for business, or personal use, purchase a house or pay for your studies. Additionally, to seek loan in Austria, there are mortgages available. Banks are not permitted to choose the applicants based on their background or to discriminate, yet, they will provide different conditions to their borrowers based on their citizenship and residency.

Nevertheless, Austrian banks are always free to accept or reject your application. Before approving the loan, your bank will look at the creditworthiness or the CIBIL score. The score will help the banks determine whether you are applying for the loan or not. When you apply for a loan, the bank will want you to provide them with the amount of income you make every month. With this, banks will know whether you can repay the loan within the tenure. Furthermore, banks are now willing to give loans to someone who shifted to the country a while ago, such as someone who has been living for a year or less.

How to enhance the credit score and creditworthiness?

It is necessary to have a good credit score to get loans in the future more easily. Initially, you will have to open a bank account in the country and get debit/credit cards. When using your credit cards, paying the pending credit card bills before the due date is critical or may affect your credit score significantly. Getting small loans and paying them in instalments on time will increase your creditworthiness, as banks will know you are a responsible borrower.

Process and requirement of getting a loan in Austria

To get an online loan in Austria, you must find the best one. To do that, you will have to use a loan calculator that will help you narrow down your requirement and help you choose the best option. Generally, to get a loan, you will need a valid ID and address in the country.

After that, you will have to open a bank account. To open the account, you will have to fall in the following criteria:

• Being an Austrian residence
• A current account with an Austrian bank
• Regular income flow

The residence states make quite an impact on how much loan you can secure. The approval and conditions also depend on income and employment status.

The following are the standard requirement of traditional banks when applying for an Austrian loan:

• The applicant should be 18 years old or older.
• The applicant must apply for the loan for themselves.
• The applicant must have a residence in the country.
• Fourth, the applicant must open an account in Austria.
• The applicant must have a good credit score.
• Finally, the applicant must have a regular income flow.

Compare loans and mortgages in Austria

The applicants must compare the offers from varying lenders before deciding. Make sure to pay attention to the following details:

• The loan amount.
• Loan tenure.
• Interest rate
• Total loan amount.
• Any amount to pay, regularly on one-time.
• The amount, size, and frequency of installments.
• Conditions for early charges and repayment.

With the help of the best comparison tool, you can compare the Austrian loans and calculate the loan amount. Durchblicker is one of the most significant websites that help you with your loan-making decisions.

FAQ about loans providers in Austria