Taking out a loan for trainees online is quite possible after following a few basic steps, even if the individual situation of the trainee cannot be neglected. When evaluating their creditworthiness by the bank, trainees have the decisive disadvantage that their income is very low.
As a result, there is hardly any financial scope from wages that can be used to pay off the loan. Also, insecure sources of income, such as a temporary part-time job, are not recognized in full, if at all. The Credit Bureau entry of the trainee and applicant is also used for evaluation.
In contrast to income, this is only of minor importance if the borrower cannot convince with regard to income. If the trainee’s regular net income is not sufficient, the only option left is to increase one’s own credit rating through a guarantor.
For many trainees, parents and grandparents are frequently chosen candidates for a guarantee, as guarantors always have to live with a high risk and consequently only a few people agree to do so. The guarantor himself, if he accepts the guarantee, as well as the borrower, undergoes a comprehensive review to assess the creditworthiness. Only if the guarantor is also considered liquid by the bank can he actually increase the trainee’s creditworthiness.
Planning security for loan for trainees
Planning security is an important factor for banks when assessing the borrower’s creditworthiness. Unlike conventional employees, trainees have higher protection against dismissal, which of course only lasts for the duration of the training.
The bank must therefore assume that the apprentice has an almost identical and secure income during the apprenticeship, but may not be taken on by the company and consequently has no income for a certain period after the apprenticeship.
On the other hand, many trainees can only afford a loan with a very short term if the loan amount itself is very low. Conversely, since the monthly installments naturally increase with a short term (since there are fewer months to pay off), trainees should only choose a loan with a short term if it is a microcredit or if they have an exceptionally high income Have disposal.
Finding a loan online for trainees is not difficult, as the loan comparison portals can be used for this. Here, a loan for trainees can be found online within a few minutes and can even be applied for directly if desired. Of course, without additional costs.