Pensioners lend a little to the bank, the wider offer is to non-bankers
Pensioners are a specific group of people who, despite not being a priority target group for the supply of credit products by banks and non-banks, has a relatively high demand for short-term loans with lower principal amounts.
This is understandable because Slovak pensions are currently set to survive day to day, not to spend a comfortable and dignified autumn of life. Unfortunately, reality is often that if a pensioner does not have a larger amount of money saved from which he can draw in non-standard situations associated with increased spending, he gets into a situation where he has an acute lack of resources that needs to be covered.
TIP: We provide loans for retirees up to 5,000 EURO, just fill in an online application !
For example, this is the last week before the pension is paid out, when there is no money for medicines and sometimes no basic foods. Simply put, a pensioner finds himself temporarily “broke”.
There is nothing extraordinary, however, when there is a need to invest higher amounts. Repairing the house roof’s overflowing roof will become inevitable thanks to continuous storage, and domestic appliances, which are inseparable helpers at home, will also go off one by one as a monster.
In such cases, the only possible solution is to borrow money and put it in the words of “extinguishing small outbreaks that could later spread to a great fire”.
- 1 Borrowing from family or acquaintances is not always the best solution
- 2 Pensioners are not interesting clients for banks
- 3 If you do not have a subsistence minimum on your account, the credit will not be canceled
- 4 When age is an obstacle to gaining money…
- 5 A low pension is often a barrier
- 6 For non-banknotes, your pension is a full income
- 7 Conclusion
Borrowing from family or acquaintances is not always the best solution
At best, at first glance it may seem to ask for help from friends or family, but practically as soon as this option appears to most people in mind, for obvious reasons it will be rejected.
On the one hand, it might be an interest-free loan (even if it is not quite so sure today), but on the other hand, many of us are uncomfortable to admit that we have got into financial distress, let alone ” begging for a loan.
And then, such loans often can greatly damage family relationships and break even long-term friendships. Sometimes forgetting to repay shortly enough to trigger nervousness and rupture. Therefore, we do not reject borrowing from acquaintances , but we do not recommend it too much.
Pensioners are not interesting clients for banks
You can get money quite comfortably and discreetly from financial institutions. Banks target their interests in the credit sector to an economically active part of the population, so their pensioners have a relatively low chance of obtaining a loan. Bank Houses, Honor a few exceptions, nor do they have loans specifically oriented and set for retirees in their portfolio.
If you are retired and decide to visit one of your banking houses with your loan application, you will basically only have standard consumer, purpose-free loans that are primarily intended for economically active clients .
This does not mean, of course, that your chances of borrowing in this case are zero, but the statistics say they are significantly lower than if you were 40 years old and paid regularly by your employer.
Banks use the same benchmark for pensioners in assessing their creditworthiness , that is, their probable future ability to repay their credit obligations, as well as other non-purpose consumer credit applicants.
If you do not have a subsistence minimum on your account, the credit will not be canceled
This means that they take some time interval – for example, the last six months or a year – and evaluate the overall financial situation of the client, what was his income and expenses. In order to fall into the category of a creditworthy client, the difference between your earnings and expenses must simply be higher than the repayment of your potential loan.
And not only that: after deducting the cost of living along with the credit installment, you must have at least a minimum subsistence amount in your account . Otherwise, you do not qualify for credit.
However, when you go through this part of the evaluation process, it still does not mean that your credit will be approved. In fact, they will thoroughly review your so-called credit history. And here are the dreaded credit registers , which banks are obligated to see without exception, and where all the important information about your past loans is recorded about you. All you have to do is forget that you have forgotten the loan repayment, or you have long overdraft (that is, you have been in the minus for a longer period than in the pluse), and you can forget the loan from the bank!
TIP: If you have “overdone” in the past to repay a loan or loan, it does not mean that you have to pay for it by already having a way out of any money in the form of a loan! In general, non-bank companies either do not register at bank registers, or they can reduce one, sometimes both, eyes when assessing your creditworthiness.
Apply for a loan now with the fastest and most comfortable form – by filling out an online application – from one of the established non-bank entities. Forget about fair and unfair offers, you can be sure of maximum reliability with us.
When age is an obstacle to getting money…
Let’s take a look at this: you are trying to get a standard consumer loan in a bank that is primarily geared to economically active people. While you can meet all the parameters that banks have set to assess your creditworthiness, we must not forget your age!
In most cases, banks have an age limit set for loans. It does not evaluate your current age, but how many years you will complete when you pay the last installment . Most banks have this threshold set at 65, exceptionally 67 years. Thus, in practice, if you apply for a loan at the age of 62 and the maturity of the loan is 3 years, you meet the Bank’s age standard. However, if you have, say, 64 years, your chances of getting a consumer credit with such a maturity period are really slim!
TIP: Death credit insurance can help you in part, but it is more of a pathway than a real-life solution. The insurance companies also take into account the age of their clients in these types of insurance, and since yours is quite high in terms of actuariality, either they will refuse to insure you , or in the best case , you will generate high premiums that will make your bank loan significantly more expensive! A good solution is to apply for a retirement loan in a non-bank loan company. Most of them also have a fixed age limit, but unlike banks, where in most cases you do not strike after 60, non-banknotes will also lend you at 65, exceptionally even 70 years.
Above all, however, they consider each applicant individually and have their “evaluation parameters” to some extent. Apply for a loan through our online form . You have a chance to get the money you need even when the bank breaks you over!
A low pension is often a barrier
Although the average pension in Slovakia is almost EUR 408 (data according to the Social Insurance Company statistics as of 31 April 2015), a significant group of people is represented by pensioners , who receive a pension of between EUR 300 and EUR 350 ; something lower. From the point of view of most Slovak banks, such lending is simply insufficient and will not even deal with requests from such clients. You might still be able to save the whole situation by guaranteeing that you find a suitable co-borrower who, in today’s difficult times, will only be looking for you with great difficulty, or you will be playing vabank and setting up your property.
TIP: Although non-bank companies are looking at the amount of your pension, they are often much more benevolent when approving loans. If a retired client expresses an interest in obtaining funds through a loan, the non-bank will almost always assess it individually and take other factors into account.
For example, if you only receive a monthly pension of € 290, but your spending is minimal, your loan elimination prospects may not be as desperate at all! We encourage you to fill out our contact form and then contact the operator of one of our solid non-bank companies, which will take over your current situation with you and try to offer you a suitable solution. Money can be in your account within 24 hours.
For non-bankers, your pension is a full income
Another non-negligible advantage of non-banking companies over traditional banks is the optics that look at your earnings. For non-bankers, a regular pension is sometimes more certain than a wage from an employer who has been working for example for half a year. It is understandable: nobody will take your pension anymore and therefore represents a stable, long-term and constant source of your income . From employment, especially when it is not a long-term contract, anyone can get “fired” and get very easily into the problem of repaying the loan.
However, it is very important to realize that, in general, retirement loans are primarily a form of “rescue wheel” to resolve unexpected suddenly occurring expenses or obstructions and are not expected to need to borrow high amounts. We are rather talking about hundreds of euros.
This does not mean, however, that if you need a four-digit loan, everyone will refuse you, on the contrary! Non-bank companies also count on such cases and don’t turn your back on you! However, with higher loan principal amounts, you are already a high-risk client for the creditor and you will almost certainly not get to the money without some form of guarantee . And in addition, interest will grow and it will make your loan more expensive! But remember one thing first: before deciding to take any form of loan, always first consider what is necessary for you and what is already an unnecessary hazard! Borrow reasonably and only to cover those expenses that can no longer be reversed or postponed.
Retirement loans are currently a much sought-after credit product, and fast online loans from non-bank companies are a reliable but mainly uncomplicated and convenient solution to getting the money you need. Without looking into credit registers, unnecessary paper makers and stretching. The benefits of a quick, purpose-free loan for retirees have been clearly summarized for you in our next article on retirement loans .
Do not hesitate to ask for a loan by completing our online form and you can have the money for the necessary coverage of the unexpected expenses that have just arrived on your second business day! All you need to do is just an internet connection and a mobile phone! You don’t have to go anywhere, you equip everything from the comfort of your living room.