Most consumer loans are covered by the monthly income. Anyone who has applied for a loan during a probationary period therefore has little chance of obtaining a license from many banks.
Especially if the applicant does not know, upper is taken after the trial period. However, it is still possible to apply for a loan with these conditions.
However, the lenders then demand additional collateral.
The most important thing – short preview
- During the probationary period, Job offers no security
- Basically, therefore, all banks – even legislators wanted – are critical
- Nevertheless, there are exceptions that you may count on
- Check – best of all right now – even with a non-binding application your chances
Payday loan during probationary period – the inquiry with the house bank can be worthwhile itself
Payday loan during probationary period – problem solved – case-by-case decision
A large part of all consumers are customers of a Folksbank and Raisinbank or a saveme bank. These bank clients often have long relationships with their bank and are personally known to the bank’s employees.
It is therefore also possible to request a loan during probationary period. Beforehand, a consultation must be arranged with the responsible customer advisor.
Bank customers only need a valid ID for their appointment at the branch office. As with all loans from German banks, a private credit statement is obtained and the credit rating checked.
In a personal consultation, it can be clarified whether the employment relationship will continue after the probationary period. Perhaps it is possible to submit a written confirmation from the employer.
Of course, banks also accept cash collateral. Without additional collateral, however, it will be very difficult to convince the client advisor.
Therefore, there is also the possibility that the client advisor advises to wait with a loan until after the probationary period.
The credit rating – that’s what the bank sees it
The credit requirements are always crucial for a loan application. Therefore, German banks do not issue a loan without a private credit statement and a credit check.
A payday loan during probationary period is therefore particularly difficult to obtain. However, some banks accept collateral.
These include various property or personal security. For example, many retail banks accept real estate assets, fixed savings assets such as funds and time deposits or high-quality gold and silver coin collections.
Anyone who can not provide the bank with collateral security needs so-called personal security. The best-known security of this kind is a guarantor.
As a guarantor good friends or close relatives come into question. Particularly important is the creditworthiness of a guarantor. The bank examines the credit requirements of this person particularly intensively.
Only when the liquidity is sufficient, the guarantor is accepted by the bank and the loan can be granted during probationary period. If the borrower is taken over after the probationary period, it is possible that the guarantor will be released from the contract at that time.
Applying for credits online – difficult during the probationary period
When it comes to credit, many consumers now use the Internet. The payday loans of the online and direct banks can be conveniently applied from home and are cheaper than the offers of conventional branch banks.
The loan application is simply filled out on the bank’s website. To this end, the online or direct bank provides an easy-to-understand online form.
Once the applicant has entered his personal details, a private credit information will be obtained. The preliminary credit check will reveal that the applicant is still in probationary period.
These questions must be answered truthfully in the loan application. Since the applicant can not be personally represented at the online or direct bank, a loan during probationary period is rather not possible.
Banks on the internet are too big for credit risk. If the borrower is not taken over, it can lead to a loan default.
Since these are pure Internet banks, loans are only secured with the monthly income.
Loans from credit marketplaces – help in financially difficult situations
If a worker is in probation, this is a particular risk to banks. Often, rejection is the result.
Credit marketplaces are an alternative to banks. Consumers who apply for credit on loan marketplaces during probationary periods can expect a commitment.
This is because the credit requirements are not as high as is usual at banks. The loans come from private investors and are brokered through the credit marketplace.
At Smava, the so-called personal loans of 1,000 to 50,000 euros are available. For credit periods, consumers can choose between 12 and 144 months.
It is particularly important that the information of the private credit contains no hard negative features. Applicants with entries such as arrest warrants, affidavits or personal bankruptcy will be refused.
To improve the credit conditions, the applicant can have a second borrower included in the loan agreement. This can greatly improve the prospects for a loan during probationary periods.
Reputable credit agencies – credit only with additional collateral
Many credit agencies promise to help consumers in financially difficult situations in their advertisements. The reputable financial service providers in this industry are keeping their promises.
Serious loan agencies offer loans with and without private credit. The different loan options are possible because credit agencies work with numerous banks both at home and abroad.
An agency fee is only due when a loan transaction is concluded. For consumers who are in the probationary period, for example, a loan with private credit information in question.
For a credit to be approved, credit agencies require a guarantor. This guarantor must fulfill at least the credit requirements for the chosen loan amount.
However, anyone applying for a loan-free loan during a probationary period in a credit intermediation service will be refused. A permanent employment relationship and a high net income are among the most important credit requirements for non-private credit loans.
Apply for Payday loan during probationary period – improve requirements
For consumers, a loan during a probationary period is very difficult to obtain. Due to the temporary employment relationship, the risk of default is too great for the banks.
Additional collateral, such as property or personal collateral, can result in a positive decision. Consumers should also consider credit offers from credit marketplaces or credit agencies.
Although credit conditions are not as good as they are with banks, a loan installment may be possible during the probationary period.