Banks have customers with whom they are reluctant to lend. These include pensioners. The pensioners are the better debtors, they always pay back their debts correctly and on time. It is the age limit that puts a stop to lending and with it the level of income of an average pension.
This is not even 900 USD and is classified as too little for a loan. As a rule, banks find it difficult to grant a small loan without credit bureau for pensioners. But there is still the possibility for a loan seeker, provided that credit protection is available and a guarantor can be named.
The small loan without credit bureau for pensioners
In the past it was not common for a purchase or a wish to take out a loan, but that has changed. Less and less is saved on a product, it is financed with an installment loan. This rethink has also begun among pensioners, but the banks treat them neglectfully. On the one hand, there is the age that prevents a loan. At some banks, a loan ends at the age of 65, some still grant loans up to the age of 75. However, always with sufficient collateral for a loan.
The borrower could die early or develop an illness that requires care. But not only the age, it is also the amount of pension that a small loan without credit bureau does not allow for pensioners. Although there has now been a rethink at the banks and certain loan offers are also shown, the preservation is reserved only for those who have a high pension, can provide valuable credit protection and can demonstrate a clean credit bureau.
Before lending, every bank will obtain credit bureau information, whether from a pensioner or an employee. If negative entries are entered in the credit bureau, a normal bank will not issue a small loan without credit bureau for pensioners.
Loan brokerage can help
For loan seekers who have a bad credit bureau, but a sufficient and regular income, there are loans from foreign banks. The donors come mainly from Switzerland and Liechtenstein. This form of credit is only offered to credit intermediaries. A loan application is easy to make, a form is filled out on the Internet, truthful information should be provided. This loan application is sent to the selected credit intermediary. A loan offer may then be made after a short time.
The credit intermediary has viewed the information provided in the loan application and has practically given the prospect of a loan. However, this loan approval is not binding, meaning that a credit check must still be carried out. Although there will be no credit bureau entry, neither will be viewed, but the creditworthiness will still be checked. Once the lender has done this, the loan approval and the money order come first.
In order to receive such a foreign loan, the pension must be correspondingly high, ie above the garnishment exemption limit. For a single pensioner, that’s already $ 1,030 for a loan of $ 3,500. In addition, the age limit for international loans is more than restricted. Many of them no longer arrange loans here from the age of 60.
In addition to their statutory old-age pension, many pensioners also have private pension insurance from which benefits are drawn. These two pensions together are usually sufficiently high, but there are providers at the foreign banks in particular who do not recognize private pension insurance as income. A small loan without credit bureau for pensioners could be realized if a credit broker is commissioned. If the pensioner can show that his expenditure still has room for improvement over the income, a credit agency could possibly arrange a loan. However, there are usually no more than 3,500 USD offered.
This precarious situation is different if the pensioner can name a younger guarantor. This guarantor must be able to show the income that the foreign banks require as credit protection. Before making a decision, a retiree should definitely do a loan comparison so that he can get a cheap interest rate. The decisive factors for the costs are the loan amount, the term and the effective annual interest.
The likelihood of a small loan without credit bureau for retirees will be increased by hiring a recognized credit broker. A credit agency works with Swiss banks, which are less strict in their lending guidelines than most Swiss financial institutions.
If you opt for a small loan without credit bureau for pensioners with a credit intermediary, you should make sure that they do not require any upfront fees or insurance contracts to better support the loan approval. A reputable credit brokerage works on a commission basis. If the loan is approved, he can settle his commission.