Are you a pensioner and looking for a loan? Then you will surely have already made your experiences that it is not easy for you to obtain a loan. You will wonder why it is so! And this is actually justified. If you have a secure source of income as a pensioner.
However, retirees are unhappy customers at many banks, mainly because of their age and long loan terms. Each bank has its own requirements regarding the credit rating characteristics, so that you, as a pensioner, often have to search for a small loan for a long time. We will inform you exactly how you get the small loan and how important it is to compare the small loan for pensioners.
The small loan for pensioners
More and more banks are offering a special pensioner loan. Many credit institutions have recognized that pensioners are good business partners. Income is safer than that of an employee because unemployment can no longer reduce it. Stable monthly income, which sometimes increases, is one reason why a pension loan can be offered.
The problem with age remains. However, the increased life expectancy of Germans in recent years has also contributed to the fact that many banks have raised the maximum age for borrowers. If in the past there were hardly any prospects for a loan at 60 or 65 years, today it only becomes difficult from around 70 years. The credit term must always be taken into account here. This time shouldn’t be too long for a pensioner.
However, especially in the case of small loans granted to pensioners, the terms are not very long due to the small loan amount. However, it also shows on the free market that a small loan is not precisely defined. They are loans that can be obtained in the minimum loan amount. There is no exact limit to the top. A small loan for a pensioner is therefore quite feasible. You just have to look for the specially labeled loans.
The loan comparison is also very important for pensioner loans
The easiest way for you to find a loan is to make a loan comparison. You will not only learn something about the cost of the loan here, but also whether the banks will include you as a pensioner in the group of beneficiaries or not. If you use the comparison calculator, you should mark “Pensioner” in the field for professional status. The calculator will only list the banks that do not already rate your credit rating as too bad.
The credit comparison still needs some other information from you. After all, you also want to take out a cheap pensioner loan. You shouldn’t give away your money even in old age, so you should only take out a loan with the provider who can guarantee you the best conditions.
- Loan amount,
- Repayment term,
These are actually the details that are sufficient for the loan calculator, in addition to the professional status, to help you. The calculator will determine the exact conditions for your credit needs very quickly and show it to you online. In the first step you will see where you can get a small loan as a pensioner. The second step is the cost of the loan. Look at the monthly loan rate and also look at the total amount you have to pay to the banks. These numbers actually say more than the interest rate.
Get a loan as a pensioner
If you don’t get a small loan despite your efforts, you shouldn’t give it a try on the open market. Choose a loan from private to private. Here it is the private lenders who determine how they rate your credit rating. If you get a high pension and provide additional collateral, then a pensioner loan is certainly possible in this way.