Loan for pensioners

The difference between pensioners and pensioners is that pensions are drawn from the statutory pension insurance scheme, whereas pensions are the pension for civil servants and persons who are assimilated to them. With few exceptions, pensions are higher than the statutory old-age pension, but those who receive them often receive additional income from a Riester pension, a company pension scheme or a private pension amount. In addition to old-age pensions and pension payments after regular retirement, pensions due to incapacity for work and pensions for early incapacity are possible.

With few exceptions, pensions are higher than the statutory old-age pension, but those who receive them often receive additional income from a Riester pension, a company pension scheme or a private pension amount. In addition to old-age pensions and pension payments after regular retirement, pensions due to incapacity for work and pensions for early incapacity are possible.

How does age affect creditworthiness?

How does age affect creditworthiness?

When it comes to a loan for retirees and pensioners, financial institutions are often cautious because of the age they have already reached. This is understandable for retirees and retirees, since the risk of death increases with the age of the credit customer during the term of the loan.

The credit default risk can be averted by means of a residual debt insurance, the conclusion of which banks often require for a loan for pensioners. As an alternative, they accept the guarantee from the prospective heir or evidence of sufficient life insurance for the loan. If early retirement is due to a serious illness, age does not hinder a loan for pensioners and retirees. In this case, however, unlike early retirees, early retirees only receive a small pension.

The amount of the pension and the creditworthiness

The amount of the pension and the creditworthiness

While pensioners have a relatively high level of retirement benefits and are able to take out an official loan from many financial institutions, financial institutions often classifythe creditworthiness of pensioners as weak due to their low pension. Fundamentally, financial institutions take the living situation into account, so they prefer to grant a loan to retirees and retirees with home ownership.

When determining pensioners’ income levels, financial institutions do not always recognize payments from private pension schemes, as these are often made every two or three months and non-monthly amounts are considered irregular. It is easier to successfully apply for a loan for pensioners and pensioners on platforms for personal loan brokerage than at a bank,