A favorable loan for trainees is always in demand. Trainees who are still at the beginning of their careers have no less desires than anyone else. However, the feasibility of funding during the training is very limited. Nevertheless, there are opportunities that can be promising.
Cheap loan for trainees – basic requirements
A favorable loan for apprentices is under the same sign as any other loan request. The creditworthiness of the applicant decides on the eligibility. The creditworthiness of a person is related to the security and amount of his income. In addition, the previous payment history plays a major role. The “monitoring” of the payment behavior is incumbent on the Schufa.Poor repayment behavior, too late payments from mail-order bills and much more can have a negative entry result.
For apprentices, however, this is not yet to be assumed. After all, they are only at the beginning of adult life. The second pillar of personal credit is income. Only an income that exceeds the seizure-free limit is suitable for the repayment of loan commitments. Currently, the seizure limit for single persons without children is about 980, – € net per month. Some credit providers allow it to go below this limit, others strictly adhere to it. In addition, the security of income during the repayment term is important. A training contract ends with the exam. Moreover, hardly any provider will be willing to offer an installment loan.
Improve the personal credit rating
Without help, every apprentice quickly reaches the limits of what is possible. The house bank probably helps out with a credit line amounting to one month’s salary. A favorable loan for apprentices is not the Dispo. The double interest rate and more, compared to the installment loan, can cost a Dispo. Money that no trainee unnecessarily wants to throw out the window. If you want a cheap installment loan from the internet or from the house bank, you have to “polish up” your credit rating. This is possible through a guarantee.
A solvent guarantor who guarantees the installment loan opens up significantly extended credit possibilities. Any citizen who is of legal age would be conceivable as a guarantor. However, a guarantee carries the risk that the guarantor will have to pay for the loan later. The parents or close relatives are therefore the best contacts for it.
Credit from the boss
If the loan is a manageable amount, the employer may be able to help. Especially in smaller companies, the advance is still the best option for fast credit.
A cheap loan for trainees from the boss, which costs no interest. Instead of a formal loan application, the demand in the payroll office is usually sufficient. With a little luck, even the immediate cash payment is possible.