Especially young people often need a loan to start their professional life, or to be able to start their vocational training. Banks have therefore launched various offers for a loan for young people.
One differentiates between a loan for apprentices, a loan for apprentices and a loan for students. The loan for doctoral candidates, which actually also belongs to this complex, is so similar to the loan for students that he should not find his own room here.
The credit for young people: The loan for apprentices
Apprentices in particular often need a loan for young people, and they find it particularly difficult to get it for two reasons. For one, they are not even of age and on the other they earn little more money than a Hartz 4 recipients as support from the state gets their credit rating, it is in the episode very bad order. However, as apprentices eventually become journeymen who make good money, financial institutions have developed certain financial products specially designed for apprentices.
These are small loans. For this, the apprenticeship contract must be submitted. Sometimes banks also require that at least one year of apprenticeship has already been successfully completed. The apprentices, who are under the age of majority, are opposed by the fact that they are not allowed to sign their loan agreement on their own. The guardians often act as guarantors to facilitate the granting of the loan.
The credit for young people: the loan for trainees
Trainees are in a comparable situation as apprentices. They are only slightly older, but have already reached the age of majority and earn slightly more money than apprentices. They often need a car to get to the training site at all. Banks also offer special loans exclusively for trainees. Here it is necessary to bring along the training contract and the last pay slips in order to prove the status as apprentice. As with the apprentice, it also helps the trainee if a parent also signs the loan agreement, signaling a willingness to act as a guarantor in an emergency.
The Credit for Young People: The Student Loan
It is easiest for students to get credit for young people. This is usually awarded by the Intrasavings bank. Many banks that also run the study loan in their portfolio actually share it with Intrasavings bank, so in this case too, this is the classic study or education loan. This is based on the double rate system.
This means that the entire loan amount will be paid in equal monthly installments over a period of usually two years and later repaid in equal monthly installments. The advantage of the educational loan is: Between the end of the payment and the beginning of the amortization are at least two years. The repayment can be suspended if you do not have a job.