Pensioners and seniors are among the clients who are generally in a worse position to negotiate loans and other credit products. This is due to their lower creditworthiness (eg compared to employees or entrepreneurs), then to age, which is especially true for people over 65 years of age. Where can pensioners find a loan that they have a chance to get and at the same time is not disadvantageous?
Loans for pensioners are offered by banks and non-bank companies
The chance of obtaining a loan is borne by pensioners at both banks and non-bank providers. While supply is not so wide in the banking sector, the choice is much greater for non-banking companies and the chances of approving the application are much higher. Compared to special loans for students or entrepreneurs, however, loans targeted exclusively to pensioners do not appear on the Czech market.
Providers often have an upper age limit
In addition to the amount of pension and overall creditworthiness, the applicant’s age also plays a major role. Many companies have an upper age limit and no longer approve the loan for older people. However, the range of this threshold is very wide – some companies do not give a loan to anyone over 65, others have a threshold of up to 85 years. For some companies, a guarantor may be required for older pensioners.
For non-bank credit it is necessary to choose very carefully
This rule applies to everyone, but seniors in particular should be very careful in choosing the appropriate loan. There is still a lot of fraudulent companies and individuals who are just trying to elicit a fee, and we are constantly seeing internet reviews from deceived people who have paid a few thousand and received neither the promised loan nor the fee. But if you negotiate a loan through our grader, nothing like that can happen to you – we only compare verified providers.
If you only need a few thousand retirement, the best are SMS loans
Finally, we have one more tip: if you only need a minimum amount (for example, $ 100) and need it for a few weeks, try to choose between companies that offer the first free loan. Nothing more profitable – you return only what you borrowed and not an extra crown.