How to get a Loan for apprentices?

How to get a Loan for apprentices?

The loan for apprentices often proves to be an urgent and necessary project, but there is a fundamental difficulty for those interested: their income is almost always below the exemption limit, ie a bank grants the loan only with the help of a guarantee.

However, it is difficult to get a loan for trainees. The reason for this is the low income that many banks do not have as security for the loan. Click here to see what opportunities apprentices have for obtaining a loan from the bank. Nowadays, banks are increasingly offering loans tailored to their specific needs.

Credit for trainees

Credit for trainees

Unfortunately, these expenditures are rarely affordable, so the only possible form of loan is for trainees. There are hardly any loans for apprentices, so it is also possible to pay for the first vehicle with them in order to get to work on time.

The amount of a loan to apprentices depends on the institution concerned and the amount of the training allowance.

Borrowing from 1,000 to 7,000 USD is hardly an issue for trainees. However, if there is already a negative credit, eg for a non-paid mobile phone bill, most banks will not approve the loan. A guarantor with a regular salary usually has no obstacle to a negative Schufa entry.

In the case of interns usually assumes the guarantee

In the case of interns usually assumes the guarantee

If the student is no longer able to pay the loan installments, they will be paid by the guardians, ie the guarantors. For most legal guardians, the loan for the apprentices is guaranteed if they are able to do so. Branch and branch banks grant loans to apprentices on comparatively advantageous terms.

Here, a credit comparison is worthwhile to make the monthly payments as small as possible. Trainees do not have a very high salary, and if the monthly loan is too high, it can lead to financial problems. Apprentices are entitled to finance under the Training Act under certain conditions. Those who are studying, attending a general or vocational secondary education are supported with a non-interest-based apprenticeship loan.

This is independent of income and is paid in up to 24 tranches per month. The total loan amount of a maximum of USD 7,200 is calculated with a little more than two percentage points of interest. The repayment of the Good Credit loan takes place four years after the first distribution in monthly 120 USD installments. If time is short, the trainees can also sign an immediate loan agreement.

However, due to low income

However, due to low income

Only a few lenders offer this type of loan, such as Good Finance. The instant loan for apprentices with a duration of 12 years is no longer an obstacle if you start with a monthly income of 601 USD. Credit brokers such as B. brokers such. B. brokers and personal loan platforms such. E-Money can also be a contact point when looking for a loan for trainees.

However, it must be verifiable that the revenue is sufficient to generate the loan rates on a regular basis. In terms of maturity, not all credit institutions are particularly generous, as apprentices have only fixed-term contracts.


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