As a borrower, pensioners are not necessarily the customers that banks want. After all, they are at an advanced age and no longer have a regular income. They do get a pension that is paid on time and the amount does not fluctuate.
But the banks do not see the pension as income and therefore only accept it to a limited extent for a loan. For these reasons, it often happens that loans from pensioners in Germany are rejected.
The problem of pensioners
Although pensioners have a stable pension, they find it difficult to take out a loan in Germany. This usually only works if you can nominate a co-applicant or provide so much security that the loan can be secured from many sides. But if you don’t or can’t do this, you have to see where you can take out your loan. Such as a Swiss loan for pensioners. This exists under certain circumstances and it helps when German banks do not want to or cannot help.
The repayment must match
For Swiss banks, it’s not just income that counts. They are based on the borrower’s ability to repay. With a Swiss loan for pensioners, it is not only the pension that is decisive, but also the age of the borrower and the term of the loan. The shorter the repayment phase, the older the borrower can be. A conventional small loan is quite possible up to 70 years. It can usually be paid back within a few years and does not cause any problems.
If you are looking for a Swiss loan for pensioners that has a longer term, you have to work with a co-applicant – as in Germany. You can also try to use additional collateral to make the loan possible. In such a situation, the bank will give precise information about the possibilities and show exactly when and how a loan is possible.
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