Ideal for retirees
- Start your loan request now (there is no contract yet).
- After checking your request, the money is already in your account after 4 days.
- You just have to accept our offer. If not, then not. No hook, no cost.
After a long working life, retirees can finally enjoy life without having to make great commitments. Many want to use the time for travel, finance a car to stay mobile or to renovate the apartment or the house.
The pension payment is always a cut in the budget, because it is transferred less money. The pension payment is not always sufficient to make all purchases and some wishes must be pushed backwards. For such cases, a loan for retirees can be added.
Requirements for the loan
For a retiree to be able to take out the special loan for retirees, the conditions required by banks must be met. It is often the case that a loan is given only up to a certain age, which pensioners often exceed. Then the recording is only possible if collateral is available. Your own child or even the grandchild, for example, can be taken as a guarantor. This guarantor must be solvent, which means that a regulated income must be available.
When applying for a loan for pensioners, the schafa of the applicant and the guarantor is always checked. It will come to a rejection of the guarantor if it has too many negative entries in the Schufa. The retiree can also use his life insurance to hedge the loan. Many pensioners have taken out their life insurance decades ago.
That could now be to the advantage, because who has been insurance for decades, can count on a high repurchase value. This repurchase value is taken as collateral by the bank. Should it happen that the pensioner can no longer pay off the rates for the loan for retirees, the repurchase value for the repayment is withdrawn.
Conditions of the bank
If the pensioner has good collateral, he can count on very good conditions. The loan amount will then often exceed a sum that is over 5,000 euros. Thus, pensioners could meet wishes or make purchases. The bank should be asked if special repayments are possible. If the bank agrees, this agreement should be included in the contract. Thus, the retiree can also increase the rates for a month and thus pay off the loan in a timely manner.
This has the advantage that the retiree is faster debt-free and that there is an interest surplus. The borrower receives this net interest income as soon as the loan has been fully paid off. The special repayment may not be seen as a mandatory program. Only if the pensioner wants it, he can raise the rates, he is under no obligation. It only makes it possible to make the decision yourself and to increase the chance of paying off the debt faster.