An increasing number of customers are reaching for online loans, including most of the elderly. The amount of pensions leaves much to be desired – we often hear that it is not enough to cover the cost of medicines, bills and ongoing fees. Pensioners who do not receive enough money from the state to afford renovations, trips or private treatment usually apply for additional money.
Low pensions make it hard to make ends meet in some months. Therefore, loan companies offering financial support come to the rescue. Many non-bank companies offer installment and payday loans with a repayment period of up to 30 days. One-off financial support from a loan company, however, usually closes to a total of up to PLN 2,000 – this amount can easily be repaid by a person receiving a retirement benefit. Most companies also offer the first free loan. Free payday loan consists in that we collect a certain amount and we have the same to pay. Older people can also count on slightly lower interest rates on loans or other additional promotions.
Loan for seniors
Seniors are very active these days. They take part in various meetings in community centers, practice and use the Internet. Websites dedicated to the elderly, where there are many health and cultural guidelines, so taking a loan via the internet should not be a problem. The whole procedure comes down to completing a simple form and confirming your identity. It is really short and does not cause problems. However, if you have any problems, you can always ask for help from the children, grandchildren or a company consultant, who will inform the customer by phone about the way to get a loan.
Older people can apply for a loan if they meet the basic requirements set by the company. All conditions set by the company do not differ from the conditions set for young people. Non-bank companies grant loans to pensioners aged 65 to 80, it is necessary to have a permanent place of residence, documented income. For customers over 65, these are retirement or pension benefits from the last month or three months. You must also have an active bank account and mobile number. Retirees who meet these conditions can successfully apply for payday pay.
Borrower’s maximum age
The elderly are assessed by banks and non-bank companies as a reliable group of clients due to guaranteed stable income. Many banks, however, refuse to grant a loan if the customer is more than 70-75 years old, because the older they are, the less likely they will be repaid in full. As a rule, banks do not grant loans to such clients for a period longer than 8 years. Some banks also require that older people take out additional life insurance. Then, in the event of the borrower’s death, the loan will be repaid by the insurance company. Other financial institutions demand that older pensioners look for a guarantor.
It is different in the case of non-bank companies, when a bank, due to age, refuses to grant a pensioner a loan, non-bank companies can help. Each company has a specific age range of clients with whom it works. Such people must find a loan offer that has the highest age limit. Many loan companies grant loans to pensioners aged 65 to 80.