Where do you get as a retiree quickly a senior loan with immediate commitment?
Pensioners have big problems getting a loan from the bank. The financial institutions set a certain age limit, which can be the 62nd, 65th or 67th year of life, there are the most varied variants. After the age of 70, a retiree probably would not get a loan from any German bank or savings bank. Even younger seniors are urged to expensive credit default insurance, if they get the desired loan.
Loans for pensioners: age discrimination or justified concern of the banks?
The state pension, which ends up in the pensioner’s account every month, actually makes senior citizens good repayers of a senior loan. But why is the loan application then rejected by the bank? The question of whether this borders on age discrimination is being raised by consumer advocates and some politicians. But this question is idle, because the banks are like any business enterprise in the acceptance of their customers free and do not justify a rejection. If you ask them, they will refer to the increased care and death risk of the older clientele. The fact that the target group often has good reserves that they simply do not want to attack because of a small financing also plays no role in the discussion. It remains with the overwhelming flat rejection of credit applicants from a certain age limit, which sets each financial institution for themselves.
Financing Senior Citizens on a P2P Portal – Borrow Money from Private Individuals
However, retirees do not necessarily have to go to the bank to take out a loan. Since the 2000s, the Internet economy has performed well, producing some notable innovations that affect the banking industry as well. Meanwhile, there are so-called P2P portals for private lending, which are called smava , auxmoney and lendico : private investors give a loan to private borrowers. In this case, not one person has to lend the entire money to another person; rather, quite a few investors invest in a loan. If the loan request of the pensioner, for example, be 5,000 euros, maybe ten investors could each provide around 500 euros. This money flows into a pool that the P2P portal manages with the help of a German bank and pays out to the borrower as a total loan. The repayment in installments runs in the same way. The bank also creates technical and legal security. Borrowers and borrowers agree on interest rates: The borrower offers an interest rate online and can adjust it for 14 days, which means offering a little more if there are not enough investors. The procedure can be aborted at any time. It has the great advantage that the borrower is not dependent on the individual decision of a bank adviser. Experience shows that modern lending works quite well this way. If a senior needs help with the technical details, he might be able to address children, grandchildren, or younger acquaintances.
Senior loans and pension loans to credit intermediaries and other financial service providers
Who gives money to pensioners? Where is there a senior credit without age limit?
Retirees, senior citizens and pensioners can also apply to reputable credit intermediaries who specialize in senior loans. At the following loan provider for retirees , the loan application form is reached with just a few mouse clicks. The loan request is free for pensioners. If there is a loan commitment, at home you can look at the credit intermediary’s files and decide on the loan offer “for” or “against”.