Loans for pensioners.

It is not always the Credit Bureau entries that cause banks to refuse a loan. In addition to income, other factors play an important role in the credit decision. Age plays a significant role. For this reason, getting a loan for retirees is very difficult.

Loans for pensioners

Loans for pensioners

The loan for pensioners depends largely on age. There are early retirees who retired before the age limit for health reasons. The banks grant loans up to the age of 58. It also gets more difficult. The situation has improved a bit for retirees, but they still don’t have it easier. The banks also know that the life expectancy of people in Germany has increased. There are some banks that offer special loans for retirees, but you can find them with a magnifying glass.

Loan for pensioners from the Cream bank

Loan for pensioners from the Targobank

One of the banks that grants a loan to retirees is the Cream bank. The sum of money for new customers is a maximum of 2,500 USD with an effective annual interest rate of at least 3.97 percent and a term of 12 months. A certain amount of the pension is required. In individual cases, higher loan amounts with longer terms are also possible.

Credit from Spin Lender or Across Lender

Pensioners can apply for a personal loan. This means that it is not the bank, but private individuals who lend themselves to form an association. Spin Lender was the pioneer of this new model. Across Lender has been added, which use the same business principle as Spin Lender. Here it is not the bank that determines the interest rate, but the customer. If the investors are ready to lend the money at the offered interest rate, a loan agreement is concluded.

The advantage of this method is that the self-employed and freelancers also get a loan here. This is almost ideal for pensioners. In principle, applicants, whether retired or self-employed, must have a good credit rating. Nothing changes in these business practices here either. Without good credit, there is no money.


Make a non-binding loan request now

It is particularly important for pensioners that the spouse or family is covered. It is therefore recommended to take out residual debt insurance so that the spouse or family does not have to pay for the debts in the event of death. Before deciding on a loan for pensioners, you should also consider that from this age limit you can quickly become a case of care. The money saved and the pension are quickly used up. If you have a loan, you should definitely protect yourself in this case.