For almost all trainees in Germany, the monthly training allowance is below the statutory attachment limits. So there is no credit from banks, as the bank would hardly be able to collect arrears in installments. It is no longer possible to take a loan as an apprentice after such trifles. Credit applications submitted in quick succession (within ten days) will also be reported to several credit bureau banks. Trainees are often unable to meet the borrowing requirements.
When and how can trainees take out a loan?
The beginning of a lesson begins a new phase and a whole new phase of life. You have a lesson to do in another big city and are about to move out? What are the financial resources during the training? Below we will advise you on the possibility and requirements of an apprenticeship loan and all your inquiries at the time and how an apprentice can apply for a loan!
Trainees are seen as a risky borrower at banks. At the same time they are also potential new customers who will remain with the house bank even after the repayment of the loan. Therefore one should inform oneself in peace with his house bank and not say one, one would not have any possibility to receive a loan anyway.
Whether or not you can make a loan from a house bank depends on four conditions. If you meet the following conditions, you have good prospects for a loan: Every house bank knows that an intern has a regular income. However, to secure loan repayment, there are special apprenticeship loans, the terms of which are also adjusted to the low pay.
The interest rate here is usually lower than for “normal loans”. Trainee loans without apprentices? A loan is only granted if the creditworthiness, ie the economic reliability of the borrower, is enforced. The lender, the house bank, needs this guarantee. Therefore, it is not possible to obtain a loan as a trainee, without the house bank wants a credit bureau information.
From time to time there is an offer on the net, in which the lender advertises that they give a loan even without credit bureau information. A reputable bank will always ask for information from the company. But even in this case, there are still hopes.
You can still get a loan in the training.
Who gives a guarantee for his credit, has a much greater chance not to be rejected at the house bank. If you can not repay your loan in time, your guarantor will step in for you. In such a case, the house bank would book the bank account of the guarantor.
This option is often the only possible way for trainees with very low wages to get a loan during their apprenticeship. Internship credit during probation – When should you receive a credit during the training period? For many banks, apprentices are granted loans only after the probation period has expired.
You or your training company can dissolve the training ratio during the test phase. Would you like to repay your loan in such a case? The institutes play it safe and grant the trainees loans only after the probation period has expired. Half a year after starting the apprenticeship, therefore, it is the best time to receive a loan during the apprenticeship, even if the probation period has been shortened, as many institutes do not lend before you have worked for six months.
Can I apply for a loan during my apprenticeship?
You have a particularly good chance of obtaining a loan if you can tell your adviser that you will be accepted by your training company. Because it is then possible to obtain a loan that extends beyond the training period. Getting a loan that lasts longer than your workout time will be very possible in most cases.
If you are not hired by your apprenticeship, there is a risk of short-term unemployment. Banks are generally very reluctant to take this risk. However, if you can provide the house bank with a certificate from your acquired training company, the loan period can easily exceed the training period.
By the way: Trainee loans are usually only given on a certain scale. The repayment amount is about 150 USD per calendar month, but of course this varies from house to house. Here is a short introduction on how to submit a loan application as an apprentice: “We look forward to seeing you! What happens after the training?
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