In order to receive a loan, the borrower must convince the bank of its ability to pay, guaranteeing full repayment of the debt, along with interest, at a specified time. The greater the risk of non-repayment of money, the less chance of loan approval on good terms. After retirement will have to work hard to find a bank in which a small percentage will give a loan to a pensioner. The institution risks money by providing a loan to people in old age and with small incomes.
As the borrower’s age increases, the bank will carefully consider the candidate and determine the period of possible crediting. Many financial institutions limit the term of credit agreements to the moment when a customer turns 65 years old.
However, there are structures that set the maximum age of the borrower at 85 at the time of the last installment. Even a non-working pensioner can get loans for a period of up to 15-20 years.
Bank is loyal to the age of the client and focuses on active cooperation with retired citizens. All that is required for a consumer loan is a passport, pension certificate and guarantor.
In Russian Bank, a successful program of financing the purchase of real estate, if the borrower has issued a receipt of state deductions through this financial structure. A working pensioner to issue a consumer loan is somewhat easier if you bring a certificate from the employer. Then the organization can provide a credit line on general terms.
Collecting information about banks that are ready to lend to older people, you need to pay attention to the financial institution through which pension transfers come. Pension card raises the chance for a loan for retirees with low interest rates.
Here the bank sees stable cash receipts and can judge the client’s ability to pay bills. Many lenders offer special conditions to regular customers, with a greater degree of loyalty considering the age parameter and offering a percentage lower than in standard situations.
Not all structures are ready to finance pensioners, but there will be profitable consumer lending options on more convenient terms.