It is no secret that most pensioners in Poland often lack money for monthly expenses, which with age, including due to their health condition they can only grow. However, on the other hand, the stability of the service received and no risk of losing it should place this group of people as potentially attractive borrowers for banks. But not for every pensioner this form of funding is available.
At first glance, banks treat pensioners as other clients. Thus, when applying for a cash loan, they must undergo a standard creditworthiness verification procedure. Some financial institutions, however, try to reduce these formalities to a minimum, because of the stability of the service received. Its documentation in a bank outlet usually involves the presentation of an identity document along with a payment benefit, a decision on granting a benefit or a certificate issued by ZUS / KRUS or other authorized body.
However, the determination of creditworthiness is the simplest matter. Most pensioners, if they do not have an overly burdensome credit history, they can count on a loan from the bank. The problem is that this applies to people aged around 70. In addition, the amount of such a loan in most cases can not be excessive and the repayment period should be excessively extended. Therefore, it is difficult to expect that a pensioner aged 68 will be granted a 20-year mortgage for PLN 300,000. However, it will be different when it comes to a cash loan of 5,000. for 8 years.
The options for getting a loan shrink with age.
Around 80 years of age, it may not be possible to receive any funding in this way. Saving in such a situation can be a loan in parabank, which also perceives pensioners as good borrowers and often there are no upper age limits for submitting an application in this type of companies. However, here more flexible criteria for the allocation of funds are often associated with a multiple APRC. In both cases, a bank and a non-bank loan, one should also bear in mind the necessity to purchase additional life insurance, which naturally increases the costs.
Most banks treat pensioners as other applicants. However, there are institutions that have prepared a special offer for them. That's what he did Harkin Bank. The APRC of such a loan amounts to 26.49%, but this group of borrowers can count on co-financing in the amount of up to PLN 150,000 divided into 100 monthly installments. A person with the lowest pension can apply for a loan, and the bank does not check the credit history of the applicant.
Unfortunately, retirees often fall victim to cheaters. Seemingly attractive loan conditions can lead an older person into serious debts. Therefore, one should beware of submitting any applications through an unverified entity. A loan or loan application should be submitted at a branch of a bank or loan company that already has an established position on the market, and such a decision is always worth consulting with someone from the family or friends.