Loan with Mini-job – Creditworthy – with a Small Salary
Credit rating is one of the most important criteria for lending from a bank. Consumers who want to apply for a mini- job loan have difficulty with some lenders.
The salary for these persons is often below the attachment exemption limit. However, if the applicant can offer credit guarantees to the lender, a loan is not excluded.
Credit with mini-job – in some cases helps the house bank
Credit with mini-job – fast and cheap – despite a small income. If there is a loan request, many consumers first turn to their bank. The house bank often has a very special relationship of trust. In addition, this bank usually keeps all accounts and is responsible for the monthly cash transactions of their clients. If a bank customer wants to apply for a mini-job loan, several scenarios are possible.
If the applicant has a permanent job and at the same time pursues a mini-job, one can assume a high credit rating. The mini job also adds up to 450 euros per month.
A loan should not be a problem in this case. However, if the monthly income is limited to the social benefits of an agency and the merit of the mini-job, the loan will certainly be rejected. Retirees often go to a mini-job these days.
With these persons the bank can decide individually. A loan is then also dependent on the amount of the pension notice. Often, however, additional loan collateral is required for a license.
Additional collateral – this is accepted by the banks
If the credit rating is insufficient for a loan with Minijob, the applicant must be able to offer the lender additional collateral. Many financial institutions as well as credit agencies accept various property and personal securities as collateral.
Severities are usually assets such as fixed savings, funds, equities, precious metals or real estate. Personal securities include either a liquid guarantor or a second borrower. If a guarantor is named, this person often comes from the close circle of friends or family. The liquidity of the guarantor is examined intensively by many lenders.
A second borrower is also possible. This co-applicant is very often a longtime partner, husband or wife. Guarantors and co-applicants are normally liable on their own. This means that the liable person can be asked to pay in the event of a loan default without a legal dunning procedure.
Online and direct banks – installment loan from the Internet
More and more consumers are asking for installment loans from the internet. This already affects every fourth loan. The loans are provided by online and direct banks. However, these banks offer their financial services almost exclusively online.
Therefore, the cheapest credit providers find consumers when comparing on a credit portal. By the way, creditend also offers this service. On the comparison pages of creditend is an easy-to-use loan calculator. For a credit comparison, the net loan amount, the planned duration and a purpose are entered into this calculator.
On the comparison page, numerous banks appear that are eligible for the desired loan. For a simple comparison, all offers contain the same information.
These include the bank name, the product details, the monthly loan installment, the fixed borrowing rate and the annual percentage rate of charge. Online and direct banks always need a positive reputation and a good credit rating.
A loan with mini-job is therefore often only possible if the activity generates an additional income.
Loans from credit marketplaces – private investors help private individuals
If the banks reject a loan with a mini-job, a credit marketplace can be the alternative. Credit marketplaces are portals on the Internet where private lenders offer financial assistance in the form of loans.
The loans from these portals are also referred to as personal loans. Personal loans are also available on creditend’s credit marketplace. Consumers can apply for credit amounts of 1000 to 50,000 euros. Credit periods of 12 to 144 months are possible.
The application is online. As on the credit portal of creditend, the loan amount and the term are entered in a credit calculator on the credit marketplace. The input of the purpose of use is also possible. The applicant receives a provisional loan offer.
In the next step, the applicant’s personal data and finances are needed. It is obtained a private credit information. This information may not contain any hard negative features. Otherwise there will be a rejection.
If the applicant is admitted, the loan with mini-job is possible. The stated income normally does not have to be assigned.
Money for mini-jobbers – only a few institutions offer a loan
Only if the consumer meets the required credit requirements, a loan with a mini-job is possible. Many conventional financial institutions or online and direct banks will therefore rather not meet a loan request.
The credit risk is too high for these institutions. Credit marketplaces offer the best chances of an installment loan if credit conditions are lower.
A credit check, as is usual at a bank, does not take place on the portals on the Internet. However, consumers should always remember that these loans are always on time to serve.