Almost one in ten germans plan to take out a loan as a result of the corona crisis

The Corona pandemic has led to financial uncertainties and worries among many people in Germany. According to a recent survey, almost one in ten Germans are planning to take out a loan as a result of the crisis in order to bridge the difficult period.

The survey shows that it is mainly younger people aged 18 to 34 and people with low incomes who would like to make use of this option. The planned loans are often consumer loans, with which, for example, necessary purchases, such as a new washing machine, are to be financed.

Almost one in ten germans plan to take out a loan as a result of the corona crisis

Despite the crisis, interest rates for loans remain at a low level, which has probably contributed to the increased demand. It remains to be seen how fulfilling these credit wishes will affect their financial situation and whether there will be an increase in over-indebtedness.

Overall, however, it is apparent that the Corona crisis is also having an impact on Germans’ finances and that many people are in need of support.


As a result of the COVID-19 pandemic, the economic situation has worsened for many people. Many have had to accept short-time work or even lost their jobs. Accordingly, many are looking for ways to supplement their income and achieve financial security. One way to achieve this is through loans.

Almost one in ten germans plan to take out a loan as a result of the corona crisis

According to a recent survey, almost 10% of Germans are willing to take out a loan. Many plan to use the money for larger investments, such as a car or renovation, in order to benefit from the investment in the long term. Others use the loan as an aid to bridge short-term bottlenecks.

However, loans should always be carefully considered. A review of one’s own financial situation and a realistic assessment of one’s ability to repay is essential in order to avoid getting further into financial difficulties. Also, different offers from lenders should be carefully compared to find the best conditions.

Overall, a loan can be a sensible solution in difficult times to bridge financial bottlenecks or make larger investments. However, good preparation and thorough research are essential to ensure a high level of financial security.

Borrowing in Germany: Despite Corona, almost one in ten want to take out a loan

The Corona crisis led to a massive slump in the economy in Germany and thus also to a sharp rise in unemployment figures. In this difficult situation, many Germans would like to strengthen their finances and are planning to take out a loan. According to a survey by the opinion research institute Forsa, almost one in ten Germans plans to take out a loan in the near future.

The respondents give various reasons for this. Some want to make a major purchase, while others want to reschedule their existing loans. Another reason is financial support to cope with the Corona crisis, for example by taking out a loan to bridge income shortfalls.

However, there are also skeptical voices that warn of the risks of taking out a loan. It can be difficult to meet the monthly installments, especially if your financial situation is uncertain. In addition, too much debt can lead to financial difficulties in the long term and even affect the borrower’s credit rating.

  • Nevertheless, there are also smart ways to plan and implement borrowing:
  • Before taking out a loan, people should check whether there are sensible alternatives, for example by paying in installments or taking out a loan from friends or family.
  • It is advisable to calculate exactly what monthly loan installment you can afford and what term makes sense. It is important here to realistically assess your own income and expenses.
  • Before signing the loan agreement, one should inform oneself comprehensively about the various offers and, if necessary, take advantage of professional advice.

Important reasons for taking out a loan in Germany

In today’s world, there are many reasons why people in Germany want to take out a loan. One of the most common reasons is the desire to own a home. Young families in particular are looking for financing models to fulfill their dream of owning their own four walls. In addition to the purchase of real estate, renovation or conversion work is often financed with a loan.

In addition to buying real estate, one of the reasons why many Germans take out a loan is to purchase consumer goods. For example, many people opt for a loan to buy a new vehicle or a more modern kitchen, or to realize travel plans. Another important factor is debt restructuring, where the loan is used to pay off existing debts and thus improve the financial situation.

Even the corona crisis cannot be excluded from the reasons for borrowing in Germany. As recent surveys show, almost one in ten Germans plans to take out a loan in order to remain financially independent during the crisis and to be able to cover existential costs. For example, many companies are also dependent on loans to maintain ongoing operations.

  • So, to summarize, the reasons for the borrowing in Germany are many and varied.
  • Although there are definitely risks involved in borrowing, it is often the only way to make important investments or get through difficult economic times.
  • However, those who decide to take out a loan should take care to understand the associated obligations and costs in detail and examine them critically.

Alternative financing options in times of Corona

As a result of the Corona pandemic, many people are experiencing financial difficulties, which is why they are looking for alternative financing options. For example, some are opting for crowdfunding or crowdlending, in which they are financed by a large number of investors via a platform.

Another trend is so-called peer-to-peer lending, in which private individuals grant loans to other private individuals. However, this requires a high level of trust between borrowers and lenders.

In addition, online loans are increasingly being used, where the application and processing of the loan is done completely online. This form of lending offers a quick way to obtain necessary financial resources.

KfW, the state development bank, has also reacted to the crisis and expanded its range of loans. Small businesses, in particular, can thus obtain funds quickly and easily in order to continue operating economically despite Corona.

  • Crowdfunding or crowdlending
  • Peer-to-peer lending
  • Online loans
  • Loan offers from KfW

It’s important to get detailed information about the different financing options and weigh potential risks before taking out a loan. Good planning and budgeting are essential to remain financially stable in the long term.

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