Do you want to earn money from the Cream Bank’s current zero interest rate policy? Are you looking for a loan for retired civil servants where your secure salary has a positive impact on interest rates?
Online loan solutions for retirees need not differ significantly from offers that are used to court active civil servants. Nevertheless, retirees are more likely to face hurdles that they did not have to overcome at a young age.
We have put together for you what is important for credit for pensioners, how it differs from credit requests for pensioners.
Loan for retirees – active retired
With the loan for retired civil servants, wishes come true. – Because, retirees are never absolutely happy. It is only in retirement that people find the time to deal more consciously with their living environment. They make plans. There is always something to improve on the house. Time is of the essence, because freshly retired, the old forces wake up again. In the case of renovation or the age-appropriate renovation of the house, sprightly pensioners want to save money and do their own thing.
No less often do “young” retirees dream of finally discovering the world in the early years of retirement. You buy a comfortable motorhome and drive across Europe or explore long-distance destinations. There is always a lot of time in your luggage and a safe pension when traveling. With the loan for retirees, this growing group is currently financing their dream vacation at particularly low interest rates because the choice of providers is still large.
Retired Loan Offers – How Do You Discover Low-Interest Loans?
Young retired retirees still belong to the age group that has almost unlimited choice when it comes to credit. For pensioners 59+, only the “real civil servant loan through life insurance is no longer applicable.
Vigorous retirees find what they are looking for in regular credit comparison calculators. For most online loans, age doesn’t matter as long as it’s under 72. A closer look is needed later, but providers who accept older age can be found.
Simply cheaply finance pensioners – compared to pensioner loans
Money in retirement is always guaranteed to be on time in the account. The incoming payment is considered secured. Pensioners are no longer bound to provide work to pay their retirement benefits. The best conditions for lending for both “factions” in retirement – one could at least believe.
Nevertheless, the loan for retired civil servants is practically incomparable with the desire for a pensioner loan. An average pension is offset by an average three times higher pension payment. The personal creditworthiness and the attachable share of income determine the basic lending. Pensioners can lean back and relax with the attachable share of income, because it only becomes problematic for pensioners.
At least the recipients of an average pension are unable to overcome the hurdle of impenetrability. No regular bank grants an adequate loan without attachable income. Pensioners only face massive difficulties when the number of loan options decreases with increasing age.
Pitfalls of retirement credit – don’t just look at interest rates
The credit search via regular loan comparisons shows that solvent retirees benefit from today’s low interest rates as much as active civil servants. Nevertheless, any age-related interest premiums are not the biggest step in lending to senior citizens.
The loan will be really expensive if the offer of credit insurance is accepted with a view to protecting the surviving dependents. A residual debt insurance (RSV) sounds tempting. It is still new territory for most officials. Active officials typically do not insure their credit against unemployment or illness. The state does not have the risk due to its obligation to provide full care.
Now it is expensive to insure the loan for retirees because of the risk of dying in old age. An average RSV, against the background, costs about 20 percent of the loan amount in insurance premiums and more. The RSV is not included in the annual percentage rate, since it is almost always offered as an option.
Loans for retired civil servants and pensioners – problem solving
Retired loan requests can become problematic. Young pensioners face similar problems to retirees when they need extra credit or want to finance a large loan over the long term. Taking out a long-term loan at the age of 65 already falls into the area of risk financing. Most regular banks shy away from long-term risk. They are only willing to get involved if younger relatives act as guarantors for the loan.
If there is no suitable offer for long-term financing for civil servants via a credit comparison calculator, two options can be considered as problem solvers. Credit broker or one of the major brokerage portals for loans from private to private. The good prospects of obtaining a loan for retired civil servants at low interest rates and the impeccable reputation of the platforms speak in favor of the attempted loan on Astro Finance or Capital lender.
Safe repayment is also a priority for private lenders, but compared to banks, private investors are more willing to take risks. When lending to retired officials, the benefit of actual repayment outweighs the risk of early death. The view of the generally increasing life expectancy, which former civil servants even statistically favor over people of other occupations, confirms them right.
A loan for retired civil servants remains a manageable risk even with longer terms.