The credit comparison for pensioner loans, unfortunately, not only promotes pleasing. The small loan for pensioners is almost always more expensive than for young people. This is not due to the annual percentage rate of charge. In the effective interest rates, the additional costs do not even appear, it is the obligation to sign a residual debt insurance. Only a few opportunities for a loan on fair terms remain.
Small loan for retirees in comparison – costs of residual debt insurance
With age, it is not the physical strength that leaves a person first. It is the usual credit rating, which noticeably decreases already from the age of 50 years. First of all, it’s the big loan projects that make financing increasingly difficult. For the house financing suddenly a huge amount of equity becomes necessary. Self-financed real estate loans are increasingly illusory above the age of 60. Around the age of 65 it is already beginning to be difficult to find a cheap microcredit for retirees.
At first, everything looks the same. The APR does not differ from the offers for the younger generation. The small loan for pensioners is in comparison still more expensive. Most of the lenders demand a residual debt insurance. Even consumers of high pensions, according to consumer associations and newspaper publishers, are not excluded from this development. The costs of the residual debt insurance are measured according to the age. They are included in the loan amount, although they do not cover the annual percentage rate of charge.
Alternatives for the financing request
Really always recommendable alternatives, which are not available at the providers. On-line special offerers, which expressly renounce a remaining debt insurance, could offer an alternative. Better regarded than in the credit market of professional credit institutions is the pensioner loan from private. The small loan for pensioners is in the comparison between personal loan and bank credit associated with slightly higher interest rates. A compensation is created by the possible waiver of the residual debt insurance.
In addition, the offers of department store loans are still easily possible for the 65+ generation. The new washing machine or the new TV set can still be easily ordered from the merchandisers on credit. The situation only changes for the 70+ generation. Anyone over the age of 70 hardly has a chance of getting a loan on fair terms. The risk of loan default by the death of the borrower no lender wants to go.
Credit over 70 – the kids should help
Anyone who is 70 years old today will not die on the following day anyway. The Germans live longer, even if they then no longer get a fair credit. The only way out is credit by the children.
They should give back some of what they have enjoyed in youth. For problems with credit as an apprentice or for the driver’s license have always signed the parents. The signature for small credit for pensioners compared to help in youth is only a fair compensation.