From application to payment, everything can be conveniently settled online from your home PC. Necessary application documents can be sent online or by post. Some uses are supported by the lenders. The advantage of online loans for apprentices is obvious. In the virtual world, all applications are completed on the PC and verified online.
Credit for apprentices: departure into adulthood
The trainees quickly recognize that living together with the relatively low wage can not be fully enjoyed. Some uses are advocated by the lenders. Partly a guarantor is required, sometimes a loan is granted for trainees even without guarantors. The employer can also decide on the creditworthiness.
Here you will find all the information on the “Credit for Trainees” guide at a glance: It may be that apprentices have to invest in training alongside their own four walls. Often, credit quality can not be measured against the previous payment mode, so other aspects have to be included. As a rule, the bank offers trainees lower interest rates and flexible installment payments. But what opportunities are behind the loan offers for trainees?
The guide for trainees shows it up!
Throughout your school career, you dream of the moment your first income is finally on your own account. Thus, the latest PlayStations or the latest cell phone are still too expensive and despite the daily work iron savings. Happy are those who have a little money for the first home furnishings.
The monthly expenses for fuel, car insurance and taxes and even a payment from the training wage are possible. But now you should ask yourself the question, if a trainee is granted a loan at all. To what extent is the meaning of a commitment crucial? First, a borrower must be 18 years old and therefore fully lendable.
For a training contract, the fee is calculable for the next 2-3 years and the credit limit is set. What goes beyond that can not and will not be approved by a responsible and reputable lender. However, it is not certain whether a loan will be granted within this period. The lenders are well aware that the apprentice can only find his way through this phase of life.
The first own income from which the apprentice has to pay insurance, rent and additional costs. This is not necessarily a merit. These are experiences that have probably made many, but not all. If a lender chooses to give a loan to the trainee, despite all concerns, he will generally secure a guarantor.
Because the loan amount for trainees is still considered manageable, here too the immorality does not appear. Despite the guarantor, the lender can check the creditworthiness of the client. After all, it depends on his salary payments whether a monthly repayment of the loan is possible. If these are often in financial difficulties, the credit is also in danger.
However, it should be noted that a loan application must be decided case by case. Thus, a loan can also be awarded to trainees without guarantors, if the trainee prescribes a proper use of the loan. For example, if it was a loan for a computer that had to be purchased as part of school education, a bank adviser decided, unlike a loan, on a ten-foot sofa corner.
Here, too, separate the shards of wheat: Responsible donors want to reduce the debts of the trainee. To what extent they really commit themselves to a social obligation or whether they also do not recognize an overall economic damage in the debt burden of young people, must not be discussed in more detail here. For only when the need is really felt should the credit institutions issue loans to trainees with and without guarantors.
In general, the creditworthiness of an individual can be determined on the basis of their income, duration of employment and term of payment. However, a special case applies to apprentices over the age of 18 due to their low level of experience. The purpose of the use is always added to protect the trainee from debt. A bond for trainees without a guarantor is not necessarily condemned to failure.
Debts of apprentices
The debts of apprentices can also threaten financial institutions with economic damage, since apprentices are the main investors of tomorrow. Therefore, those who grant a loan to the trainee usually grant special conditions. With such a loan, the ten-meter-long sofa bed is not yet paid, but education and training.
The training is chargeable for the client, the federal government and unfortunately also for the trainee. In addition, the loans have greater installment flexibility than most installment loans. Exam fees, a new issue of the Pjyrmel or a broken machine can lead to unexpected budget holes that particularly affect low-wage trainees.
These measures guarantee “customer service from the start”. Even if no trainee sees himself as a junior, at least they have not yet been tested on the capital market. It would be an exaggeration to say that the lenders are hitting the interns and gradually leading them into the financial world. At least it gives them the opportunity to gain their first experience with claims and installments without having to worry about their “justification for existence” through this “cotton-wrapped” financing.
For most banks, these special conditions apply only to apprentices up to the age of 27 years. Apprentices who complete their apprenticeship at an advanced age must raise a loan under normal market conditions. However, if it was to be the first loan that had to be completed at the bank, there are certainly some special conditions that are granted as a gesture of goodwill.
It is also possible to get a loan as a trainee. As a general rule, a contract of employment of between 2 and 3.5 years existed. However, the problem here is the attributed sense of responsibility of trainees. This obstacle can be broken with guarantors. The lending depends on the purpose, whether with or without security.
Hardly any lender awards consumer credit. Educational loans used for education and training sometimes do not even need a guarantor. For trainees between 18 and 27 years special conditions apply for the loan. This is an important prerequisite for customer loyalty, not only for the trainee, but also for the lender.