Credit for 80 year olds.

Although loans for the elderly have one of the highest repayment rates, it is rather difficult for most retirees to get a good loan. Especially for people who are older than 80 years, it is almost impossible to get a loan from your own bank. Still, you shouldn’t give up right from the start. If you get enough information and invest enough time, you can find solutions.

Credit line as an important factor

Credit line as an important factor

A loan for 80 year olds is usually opposed by the fact that banks consider the risk of non-repayment to be very high if the borrower dies early. Small loans generally represent the lesser problem and are in some cases considerably easier to obtain. Here it is usually sufficient to have sufficient guarantees and guarantors. If the repayment period is in a range of 12 to 36 months, you rarely have a problem with the approval.

However, it becomes more difficult if you want a higher loan for 80 year olds. At many institutes, these are often only granted up to a limit of 75 years. If you have exceeded this limit, maximum deposit values ​​or the conclusion of an expensive residual credit insurance can help to convince the bank.

Get comprehensive information

Get comprehensive information

A general problem when looking for a loan for 80-year-olds is usually the people themselves. Retirees often live within their known pathways and therefore only trust their own banks, with which they have been customers for years. However, these classic house banks are usually the first to decline a credit request.

The Internet, on the other hand, can offer help. Some providers have recognized that the credit market for pensioners is becoming increasingly attractive due to the increasing age of the German population. There are therefore many offers online that can be very interesting as a loan for 80 year olds. However, it is important that you carry out a thorough research and compare it exactly. This is the only way to be sure that the offer is serious and not overpriced

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