credit institution
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credit institution
A company in the financial sector that is authorized to grant loans and carry out other banking transactions. Banks and savings banks are typical examples of credit institutions.
Für die Finanzierung des Hauses müssen wir uns an ein Kreditinstitut wenden.
For the financing of the house, we have to contact a credit institution.
The word is made up of 'der Kredit' (loan/credit) and 'das Institut' (institution). So it is literally an institution that grants loans.
Jedes Kreditinstitut hat andere Konditionen für einen Hauskredit.
Every credit institution has different conditions for a home loan.
'Kreditinstitut' (credit institution) is a very formal and official term that often appears in contracts, news reports, or specialist texts. It is the general term for institutions such as banks and savings banks.
Die Bundesanstalt für Finanzdienstleistungsaufsicht überwacht alle deutschen Kreditinstitute.
The Federal Financial Supervisory Authority monitors all German credit institutions.
Typical verbs used with 'Kreditinstitut' (credit institution) are 'sich wenden an' (to contact/turn to), 'ein Darlehen aufnehmen bei' (to take out a loan with), or 'ein Konto eröffnen bei' (to open an account with).
Viele Gründer wenden sich für die Erstfinanzierung an ein Kreditinstitut.
Many founders turn to a credit institution for initial financing.
bank / bench
'die Bank' and 'das Kreditinstitut' can both mean a company that works with accounts, loans, and payments. 'Bank' is the normal everyday word. 'Kreditinstitut' sounds more official and is more likely to be used in contracts, forms, news reports, or specialist texts. In many situations, they mean the same thing, but when speaking, people usually just say 'Bank'.
Wir haben den Antrag direkt beim Kreditinstitut eingereicht.
We submitted the application directly to the credit institution.
Am Montag überweist die Bank das Geld auf mein Konto.
On Monday, the bank will transfer the money to my account.