Ideal for pensioners
- Start your credit request now (this does not result in a contract).
- After checking your request, the money will be in your account after 4 days.
- All you have to do is accept our offer. If not, then not. No catch, no upfront costs.
A general age limit for lending in a EU country must not be prescribed by licensed banking institutions, as this procedure would be considered and punished as a violation of the ban on age discrimination. Nevertheless, it turns out that elderly borrowers often only get a loan under difficult conditions.
The income of 75 year old pensioners
The loan for 75-year-old pensioners, like any loan, must be secured by sufficient income. While every financial institution recognizes the state pension and the promotional pension as income in the household account, the individual banks behave differently when including private supplementary pensions. These are not always transferred monthly, but by some insurers every two months or once every quarter. This means that the income from private pension insurance contracts reliably goes to the policyholder and can actually be easily converted to the individual calendar month with a two or three-month transfer.
Many credit banks actually do this conversion, while other financial institutions generally do not consider all income that does not accrue every month to be regular and thus ignore this in the household bill. With a low pension in particular, it is therefore important to apply for the loan for 75-year-old pensioners from a financial institution that also pays for the non-monthly private pension as an income. For cost reasons, it is also essential that 75-year-old borrowers make a loan price comparison and choose a cheap loan offer. The cheapest loans are also usually available from 75-year-olds at online banks.
The default risk among 75 year old borrowers
Most senior citizens’ code of ethics requires that all liabilities be serviced properly, so that a loan for 75 year old customers is more likely to have a low risk of default as long as the borrower lives until the end of the contract. At 75, the risk of death is significantly higher than at a young age and represents the greatest obstacle to borrowing in old age.
In addition to short loan contract terms and taking out installment protection insurance, a loan for 75-year-old borrowers offers the guarantee of an heir that is only valid in the event of death. This is accepted by courts even if there is an emotional connection, as the guarantor is not burdened beyond his economic performance due to the expected inheritance.