The desire for a pensioner loan is not uncommon. Unfortunately, the chances of approval are not equally good for all pensioners. Problems can cause age or the amount of pension income. For an official, credit uncertainty arises, often for the first time in life.
Loan for pensioners – higher and higher service
The loan for pensioners who have worked in higher or higher service cannot normally fail due to the amount of the pension. The average pension of this income group is around 2600 USD net. If only the pensions of the former ministerial officials are taken, this amount is even higher. A loan does not fail due to the seizure allowance, as with a pensioner with an average monthly pension of USD 1,100.
A loan can only become problematic through age. There are no legal age limits for lending, but the problems start at around 65+. The first house banks no longer approve loans at the age of 65. Regardless of the increased life expectancy, it will be really difficult for the 70+ generation to find a lender at all. With the very good pension, however, special providers get involved in the risk loan without an age limit.
A drawback is the often required residual debt insurance. With increasing age, residual debt insurance becomes almost priceless.
Of course, not only retired civil servants, of the higher salary classes, are looking for a loan. The loan for retired civil servants, for middle income, is no less sought after. This pension group is still very popular as a silver surfer of the 60+ generation. Local credit institutions and consumer banks advertise the young pensioners particularly strongly. With increasing age, the silver surfers of middle income also reach the invisible age limits. Small loans remain possible up to the age of around 70, after which there are hardly any credit opportunities.
A small overdraft facility remains from the house bank. The low pension prevents the use of a special offer. If you only get a pension of around 1,800 USD, of which around 150-200 USD are paid for the health insurance, you have to calculate. A credit loss insurance would simply make the loan, at this income, too expensive. The loan would be possible for pensioners with a guarantor or property security. Mainly retired civil servants whose property is paid for remain creditworthy.
There are also poor pensioners
Many still remember the postman who brought the mail on the company bike in all weathers. At that time, the postal workers were all still civil servants. However, most did not have a high salary. Simple service was the usual classification. In most departments, only the department head held a medium or senior position.
Those who are looking for the loan for pensioners under these conditions often have difficulties with the approval process. His pension hardly differs from a pensioner’s income. An installment loan is only possible with property security or a guarantee, outside of the mail order house loans in the first place.