Yes! You can use AI to fill out Selbstauskunft - vertraulich - (Financial Self-Disclosure)

Applicants often incorrectly report their income, for example, by entering their net (after-tax) salary while checking the 'Brutto' (gross) box, or vice-versa. This leads to a miscalculation of their disposable income, as the bank cannot accurately account for tax expenses if the figures are inconsistent. To avoid this, carefully check your pay stub, select the correct box (Brutto/Netto), and if you report gross income, ensure you list all corresponding taxes in the expenses section.

Applicants sometimes fail to declare all existing financial obligations, such as small personal loans, store financing, or credit lines with other banks, believing they are insignificant. However, banks conduct credit checks (like a SCHUFA inquiry in Germany) and will discover these omissions, which can lead to a loss of trust and immediate rejection of the application. It is crucial to list every single liability, no matter how small, to provide a complete and honest financial picture.

The 'Lebenshaltungskosten' field requires an estimate for costs like food, clothing, and transportation, which people often significantly underestimate to make their financial situation appear stronger. Banks use standardized cost-of-living tables (Pauschalen) and will likely correct an unrealistically low number upwards, which can negatively impact the debt-to-income ratio calculation. To avoid this, create a realistic monthly budget or use a plausible, well-considered estimate rather than a low-ball figure.

When listing life insurance policies, applicants frequently enter the 'Vers.-summe' (the total payout upon death) instead of the 'Rückkaufswert' (the current surrender value). For a loan application, the bank is interested in the surrender value as a potential liquid asset or collateral, not the future death benefit. This mistake overstates the applicant's actual available assets; you should always refer to the latest policy statement to find the correct current surrender value.

The form explicitly requests supporting documents like the last three pay stubs ('Lohn- und Gehaltsabrechnungen'), tax assessments, and account statements for assets held at other banks. A very common mistake is submitting the self-disclosure form without these attachments. This will halt the application process immediately, causing significant delays as the bank must request the missing documentation.

The form asks for the legal matrimonial property regime ('Güterstand'), with options like 'gesetzliche Zugewinngemeinschaft' (the default in Germany), 'Gütertrennung,' or 'Gütergemeinschaft.' Many applicants are unsure of their legal status and either guess or leave it blank. This information is legally significant for liability and asset assessment, and an incorrect entry can cause legal and processing complications. If unsure, married couples should confirm their status; most will fall under the default 'gesetzliche Zugewinngemeinschaft' unless a specific notarial agreement was made.

Many sections (e.g., 'Bausparguthaben,' 'Verbindlichkeiten') have checkboxes for 'none exist' and 'the following exist.' Applicants often make clerical errors, such as checking 'none exist' but then filling out the corresponding table, or vice-versa. This indicates carelessness and forces the bank to seek clarification, delaying the process. Always double-check that your checkbox selection matches the information you provide in the associated table.

A simple but critical error is forgetting to sign the form or to include the place and date. If a co-applicant is involved, both signatures are required, which is often missed. An unsigned or incomplete declaration is legally invalid and cannot be processed, leading to the form being returned and causing unnecessary delays.

The German Tax Identification Number ('Steueridentifikationsnummer') is a unique 11-digit number that people often confuse with their shorter, region-specific tax number ('Steuernummer') or simply mistype. This can cause problems for the bank's verification and reporting processes. It's essential to copy this number carefully from an official document, such as a tax assessment or a letter from the Federal Central Tax Office (Bundeszentralamt für Steuern).

Self-employed applicants often provide incomplete information, such as forgetting to specify their 'Branche' (industry) or failing to attach the required three years of financial statements ('Jahresabschlüsse') and a current BWA (business analysis). Simply stating 'selbstständig' is insufficient and will immediately trigger a request for more information, delaying the entire credit assessment. All requested business documents must be current and complete.