A rule applies to banks, if the applicant does not have a permanent employment relationship, regular and sufficient income is also not to be expected. As a result, a loan without a permanent job has to be classified in the difficult category. The banks rate the applicant’s creditworthiness as “insufficient”, which in most cases means a refusal to accept the loan.
A guarantor increases the chances of getting a loan without a permanent job
The conditions that a bank attaches to a loan are a regular and sufficient income and a permanent employment contract. Those who cannot prove this are usually dependent on Hartz IV benefits. This income is below the garnishment limit, which leaves no scope for regular installments.
For approval of a loan, banks therefore provide a guarantor who has to compensate for any loss of installments. The financial background that a guarantor has to show must be impeccable, and there must also be no negative Credit Bureau. The inclusion of a guarantor in the loan agreement and his financial situation are sometimes the only way to put his finances back in the right light.
If the borrower has no permanent job and needs money, the obstacles at the local banks are insurmountable. So-called direct banks that can be found on the Internet are more flexible towards customers. These credit providers certainly want to see the money they have lent again, but the direct banks also have other collateral that a customer has to show.
In addition to the addition of a solvent guarantor, direct banking also includes property inform of real estate for a loan without a permanent job. Capital life insurance that is to be borrowed is often also accepted as collateral. These guarantees, which a borrower can provide without a permanent job, increase the chances of a loan without a permanent job.
Choose long terms
Anyone who chooses a loan without a permanent job at one of the numerous direct banks on the Internet should opt for a long term loan. The installments to be paid are low and can be handled by people without a job without any problems. Loans offered on the Internet are ideal for the borrower who has no permanent job. The conditions and the interest rate level are extremely favorable, which can ultimately be enough for convenient financing.