Young people who have just graduated and are now beginning their careers as trainees are often in the situation of having to reorient themselves and make new acquisitions. These purchases include, for example, various items for a new apartment that wants to be purchased, a separate mobile pedestal or many similar things.
Of course, to get all this, you need money. However, the salary of a trainee or apprentice is often insufficient to pay for all the necessary purchases. A possible way out: Special loans for trainees, apprentices or job entrants.
Trainee loans from banks and savings banks
Basically, apprentices, apprentices and career entrants are a special (welcome) target group of banks and savings banks. Gaining them as a customer and retaining them over a longer period of time is often an important task for them. When providing a current account with gratifyingly good conditions, this customer loyalty already begins.
However, since many trainees and apprentices have little opportunity to put too much money on the side and “let them work for themselves,” banks also special loans are offered loans – so trainees and apprentices right at the beginning of their careers all Can do things that are not only nice-to-have, but really necessary.
Requirements for a trainee loan
The conditions for granting a special loan for trainees are very similar to those that apply for the application for a normal consumer or installment loan. On the one hand, the apprentice or apprentice should be able to prove that he has a permanent residence in Germany. On the other hand, he should be of legal age. Furthermore, it is important for banks that the applicant does not have a negative credit bureau score. If there is a negative credit bureau entry, the loan application is usually rejected.
Of course, a trainee who wants to apply for a special loan for apprentices should also have a proof of income. A reference to pay in the form of payroll is normally sufficient here.
Of considerable importance when applying for a loan apprenticeship can also be circumstances that make the payment of monthly installments more probable and thus significantly reduce the bank’s default risk. For example, co-applicants or guarantors should be mentioned in this context.
It can also be important at times whether the apprentice, apprentice or entry-level person still lives at home with their parents or has already moved into their own apartment, for which he has to pay monthly rent.
Lending to trainees, apprentices and workers during the probationary period
In most cases, loans for trainees are not awarded during the probationary period, but only after the end of the probationary period. Banks and savings banks are basically the reduction of default risk of great importance. That is why it is important to them that the employment relationship is as safe as possible. Many a house of money even demands at least a six-month employment, even if the probationary period is already over.
Obtaining a loan in the early months as an apprentice or apprentice is therefore often associated with higher hurdles. But as already mentioned, for example, the addition of co-applicants or guarantors can still apply for an apprentice loan. A detailed consultation on all options seems appropriate.
Term for loans for trainees or apprentices
The term of an apprentice loan usually does not go beyond the training period. This is because it is not certain that the trainee will be taken over by his company later. An apprentice can quickly become unemployed. Longer durations are possible with a trainee loan, but only if the default risk of the bank is minimized by other means.
On the other hand, apprentices and trainees, who already hold a clear commitment to take over, can hope for a loan with a longer maturity.
Mini loans and small loans for trainees and apprentices
Of course, there are also loans for trainees and apprentices in the form of mini or small loans. With this type of loan, the net loan amount is usually only a few hundred euros, which means that the default risk of the lender is lower from the outset than for loans with higher sums. As this is the case, mini-loans and small loans for trainees are also issued more frequently, even if the trainee or apprentice is still in the probationary period. The term is often not more than a month.
Conclusion on the subject of credit for trainees and apprentices
Anyone who is a trainee, apprentice or career starter and is in urgent need of a loan or a loan at the moment should make sure to learn about loans for trainees and apprentices. Most banks would like to attract apprentices as customers and therefore offer them not only current accounts with great conditions, but also attractive loans – provided certain conditions are met.
Trainee loans for every need
Loans for trainees and apprentices are available in a variety of forms. On the one hand, these special loans can be applied for at banks and savings banks, on the other hand for private lenders and investors. Loans for trainees are granted by domestic credit institutions, and of course by foreign ones.
There are not only loans with a loan amount of several thousand euros, but also mini and small loans. In general, there are suitable loans for trainees for every need. The loan seeker should only search intelligently. If co-applicants or guarantors are added, as a rule the annual percentage rate of interest decreases due to higher creditworthiness.
Credit comparison and examination of all conditions
Of course, looking for the right trainee loan, one should not sign the first offer “blindly”, but check and compare many different loan offers. High-quality credit comparison portals can help. Important here is the careful examination of all conditions and paragraphs that are in the credit agreement to be signed.
Only those who know all terms and components of the contract in detail will be able to decide best which trainee loan is most suitable for him. Who wants to get a loan shark or make a contract with black sheep that can cost a lot?