I have been living in Austria for a bit less than a year, my earnings are good and I've had a bank account here from 7 months. I've already taken a loan from one bank of 10000€ to be paied in 10 years with an effective interest rate of 12,5% This bank was the only (of 4 checked) to give me the loan without a bank history in Austria (this of course is specific to expatriates).

Since the effective interests are very high I tried to ask for cheaper loan using this website: http://www.testsieger-kredit.at/kredit-vergleich/

I contacted both ING-DiBa Direktbank Austria and wsk-bank.at but they both answered: “Leider können wir Ihrem Kreditansuchen nicht nähertreten.” without any explanations

I tried to ask for: 20000€, 14000€ and 5000€. All refused. I've checked at KSV: the information they have on me include refused loans requests.

Can you give me suggestion on best practice, website for information, or things which could inhibit banks from lending me money? After all of that I've asked my bank to give me extra money and they accepted, but the interest rate is high. Almost the double of the others..

  • 1
    Since you do not have a long credit history they price you higher, as you are considered a "risk". Sometimes it's actually better if you try to get a loan in your home country, as they have potentially more information about you (especially if you only moved a year ago), and therefore might give you better rates.
    – SztupY
    Commented Sep 15, 2014 at 13:35
  • @SztupY: yes, but even there it's the same.. my bank gives me the loan but with a very high price, some other institutes says that they cannot manage a wage abroad and don't give me the money.
    – Revious
    Commented Sep 15, 2014 at 13:38
  • 1
    It seems they also deem you as a risk then. I think you should ask this on money.stackexchange.com
    – SztupY
    Commented Sep 15, 2014 at 15:25
  • 1
    I will try to put there a more generic question, which is not specific to austria. If I get an answer there I will update here.
    – Revious
    Commented Sep 15, 2014 at 15:49

1 Answer 1


The refusal criteria are, for a reason, usually kept very confident, but the typical reasons for non-credibility are:

  • low income
  • fixed-term positions
  • permanent position for shorter than (usually) 1 year
  • other debts, especially in shadow banking institutions
  • previous refusals

By trying to take credit in many banks in the same time, you're probably hurting your credibility, so the best way would be to wait until your situation stabilize.

  • Is it possible they also care about how long someone works in the country? In Italy they care because of something called TFR (it's an amount of money which grows for every month you work in a company and can be used if the worker doesn't pay his debt).
    – Revious
    Commented Jul 26, 2016 at 7:53
  • 1
    @Revious it depends, but usually, the time you work for your current company is the most important (as it measures the stability of your situation).
    – user9879
    Commented Jul 26, 2016 at 8:32

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