What options are there to get a loan despite a probationary period?
Where can I get a loan despite a probationary period?
Anyone who has been out of work for a long time and then finds a job again is lucky and has reason to be happy. However, it is common for employers to arrange a trial period with new employees. This usually takes six months. Even a permanent position is not safe during this time. The employer may terminate a worker within the probationary period from one day to the next. Employees with a new job who intend to take out a loan despite a probationary period have taken the bill without the banks.
Banks, given their credit rating, only grant their loans to employees in permanent employment who have already completed their probationary period. No probationary credit is granted to banks or credit institutions without additional collateral. The risk of the borrower losing his job during the probationary period is too great for them. Therefore, credit seekers are always advised to wait with the loan application until the probationary period is over. Anyone who can apply for a loan with a solvent guarantor does not care if he is still in the probationary period.
Why is the probationary period for loan applications becoming a problem for many banks?
Banks want to minimize the risk that loans will become distressed because borrowers do not pay the installments. Therefore, they try to eliminate all foreseeable risks. They do not grant loans in the probationary period, no loans to unemployed and no major credit to trainees or other risk groups.
It is very different if you do not want to take credit during the probationary period. If you want a loan after the probationary period, there are several different things to watch out for.
So trial workers have to wait and see if they need a loan. If this is not possible, because the purchase of a car is absolutely necessary for the commute, or even a move is pending, which has to be financed, alternatives are required. It is then obvious to apply for the loan together with a solvent guarantor. If you do not have one and you can not provide any other collateral, banks have little chance of success. It is almost impossible to get a loan from a bank or savings bank despite a probationary period, a fixed-term employment contract or an employment contract. Most banks authorize a credit line for the checking account. However, the credit line has a significantly higher interest rate than an installment loan.
Which financial service provider or online credit intermediary still awards a loan during the probationary period?
Whether you can borrow money from lenders depends on the loan amount you want and the type of loan. Here you can find loan providers information where you can ask for free loan requests despite probationary period.
What alternative to the bank is there to get a loan despite a probationary period?
Loans today are no longer just about banks. Social lending has also become more and more fashionable in Germany. On credit marketplaces like trucredit or creditend, private lenders come together with loan seekers. They invest their money to maximize returns. As strict lending policies as the banks do not exist on the platforms mentioned. Here it is quite possible, with appropriate credit, to get a loan during the probationary period. Borrowing money from home without a bank is now used by more and more people who have been looking for a loan with immediate promissory note and payment.
Our tip: Loan applicants should try to get their required loan without guarantor or co-applicants. Who takes over a guarantee, always enters into a contingent obligation, which can have a negative effect on the own creditworthiness.