It is normally not a problem with a corresponding wage or salary and a good credit rating to get a loan from the banks. You don’t even have to go to your bank, you can find many interesting offers from the banks on the Internet.
What is striking is that the online financial institutions have lower interest rates. Most of them do without a branch network, which saves costs for staff and rents. It is therefore not surprising that banks’ websites are so convincing. But there is a problem, it will be very difficult for pensioners to find a lending bank at all. A loan for 75 year olds is almost hopeless.
No right to a loan
The problem is as follows: In Germany there is no right to a loan. It is independent of age. Even though it is discriminatory not to grant a loan to a 75 year old, there is no legal entitlement to it. But you don’t have to throw the shotgun in the grain. Von credit, for example, is a financial service provider that provides loans even in particularly difficult cases. At least an inquiry makes sense, especially since it is not associated with costs.
Another alternative is a guarantor. The latter pays the installments when the actual borrower can no longer pay. Ideally, a close relative offers itself here.
Loan for 75 year olds from private
For some years now, private individuals have been lending their money to other people looking for loans. The best-known online portals for this are Centiloan and Trucredit. After the user has initially logged on to the relevant portal, he can express his or her loan request. It is quite possible that at least a partial amount can be realized as a loan for 75 year olds.
Unfortunately, retirees have little other opportunity to meet capital needs. In most cases, life insurance policies that may have been taken out have already been paid out, so that no money can be expected here. In an emergency, only the use of the overdraft facility remains on the checking account. Most retirees keep it and can use it when they need the money. Consultation with the bank is not necessary. You have to expect high interest rates, however, because the overdraft on the checking account is expensive.