Personal Loans without Payroll – The Loan for Me

With the term online personal loans we want to indicate the type of financing that is provided without requiring the purpose of the loan, so without having to specify why a certain financing is required.


Personal loans without a pay slip are a type of financing that contrasts with the final one, because it is not necessary to specify why the sum of money is requested, but they are also paid without the pay slip, which generally consists of the most important guarantee. for a bank.

How to get personal loans without payroll?

How to get personal loans without payroll?

We see all the solutions that are available to be able to access a loan even when you do not have a regular pay slip.


  • Assert a monthly fixed secondary income , such as a rental fee, the spouse’s maintenance allowance, and so on. It can be a guarantee that the bank can accept.
  • Ask for access to the loan remittances . This is a form of loan issued for bills of exchange, whereby the creditor, in the event of default of the installments, can attack the debtor’s assets without the need for an injunction. Moreover, the cost of this type of loan is often high enough because interest rates are high. So this is an opportunity to consider carefully before asking for these personal loans without payroll.
  • Submit any other form of guarantee . If you do not have a pay slip with which to get the money, then you can hope to convince the bank by presenting alternative guarantees such as the signature of the guarantor, who undertakes to pay any installments that the principal debtor does not have to pay .
    Or you can choose to mortgage your own home or to pledge a valuable item.
    In the event of default, the creditor may use the debtor.
  • If you are a young student and want to continue your studies after university but have no money, consider a fiduciary loan , which is generally paid to students without a paycheck. In most cases, on the basis of merit and income, it is granted to young people with low family income and always if the student does not have a scholarship. It serves for the payment of the master or doctorate and is granted without guarantees and without pay slip.

Could it be interesting for you:

  • Is it possible to get a postepay loan without income?
  • Personal loans online
  • Findomestic personal loans
  • BNL personal loans
  • How the Compass Easy personal loan works


Silver, the Personal Loan for the Third Age

 Loans for the third age are produced in great diffusion, either because of the phenomenon of the aging of the population or because of the awareness of the people of a certain age that life must be lived by indulging, within the limits of prudence, of pleasures and luxuries that maybe you didn’t do it before for many reasons.

Features of Elastys Silver

Features of Elastys Silver

Silver is a personal loan, therefore the purpose of spending the money obtained must not be declared. Once you get the loan, you can then arrange money as you wish, keep a part of it for liquidity, spend it entirely, take a nice trip, or give some presents to family members.
The maximum amount required is € 10,000, which can be raised to € 20,000 if you are already an Elastys customer.
The refund is made in fixed installments, in a period ranging from 24 to 120 months (from 2 to 10 years). The only constraint is the maximum age for making a request: in fact, you must finish repaying the loan within eighty years.
The annual interest rate (tan) starts at 8.99% and can reach 15.30%, while the maximum taeg is 16.59%.
In the event of early repayment, a commission of 1% of the residual capital must be paid.
The payment of the installments can take place with rid or postal payment slip; in both cases an installment commission of 1.3 euros will be applied. In case of payment at an Agos Ducato branch, commissions will not be required.
The loan can be accompanied by an insurance that intervenes in the event of the inability of the principal to meet the installments due to temporary or definitive disability, invalidity or death. The insurance is optional and varies from 3.60% to 7.35% of the insured capital. 

Who can request Silver Elastys

Who can request Silver Elastys

The loan can be requested, as mentioned, up to the 80 years to which the length of the loan must be subtracted. The identity and income documents must be presented (the pension slip or the obis-m model, the pay slip if still in business, the Unico form).

Estimate and Calculation of Personal Loans Installment and Salary-Backed Loans

Online Personal Loans of Banca Unicredit , one of the leading banking institutions in Italy. You will then see what are the requirements for accessing the loan, interest rates and how to quote online.


And again, we find out what the best opportunities can be for different categories of people such as young people, entrepreneurs, retirees or public employees. Finally, the option of the Quinto Unicredit transfer will also be dealt with.


Unicredit Personal Loans: requirements and interest rate

Unicredit Personal Loans: requirements and interest rate





It is advisable, before starting to think about applying for a loan, to know exactly what are the requisites that are mandatory to be able to proceed with the rest of the procedure. Well, a financial institution must comply with the rules set by the Bank of Italy and, therefore, are some of the characteristics that normally must be possessed.

Ultimately, you must be aged between 18 and 70 and can be granted to all those who have a demonstrable ability to repay. This can be confirmed, in the case of employees, by the pay slip, for self-employed workers from the tax return and, as far as pensioners are concerned, from the pension slip. Finally, you must have a valid identity card and tax code.

After that, if the applicant has actually shown that he has these characteristics, he can apply for a personal loan. Let’s see, then, by way of example, what interest rates are proposed, in this period, by Unicredit.


If, therefore, we wanted to request the amount precisely equal to 3,018.29 euros and decide to repay the sum in 24 months, we would face a monthly installment of 135 euros with a fixed tan of 6.90% and a taegdell ‘ 8.23%.

 Online Loan Estimate: installment calculation

 Online Loan Estimate: installment calculation




At this point, let’s try to understand what is the necessary procedure to get an online quote . This is a service that the official website of Unicredit makes available to its customers. It is a facilitation that can surely be useful to simplify a procedure that, otherwise, could cost more movements and delays.

As far as the online quote service is concerned, Unicredit has a section dedicated to this type of service. Through this page it is possible, therefore, to get an idea of ​​the payment you might have to pay, once the loan request has been confirmed.

Let us then try to suppose that an applicant needs some liquidity and not too much. If, therefore, he decided to proceed with a small personal loan , let’s see what figures would correspond to this operation.

Let us suppose, then, that to carry out this project it simply needs a sum of around 3,000 euros. After having performed the calculation of the installment on the Unicredit website and having opted for a 24-month repayment, the results would be the following. On the one hand, there would be the percentage of the fixed tan of 6.90% and the percentage of the taeg corresponding to 8.23%. Having said that, we find out what the customers’ opinions are and what other loans can be divided by category.

Opinions on Loans

Opinions on Loans



For a company to make a good reputation is certainly a fundamental thing both to be able to retain its customers and to always attract new ones and, thus, excel over the competition. In fact, even for Unicredit it is interesting to be aware of what the opinions of its users may be.

Today, thanks to the web, it is not so difficult to understand what the public thinks about its company or its service / product. In fact, the reviews are the most disparate and each one depicts the personal experience with this bank. The most commonly used evaluation system is certainly the use of the five stars that assign a score to the topic being discussed.

A user, for example, judges with the highest marks and argues the decision with the fact that he became a customer of Unicredit when he turned on a loan and that it was a positive choice. Like this current account holder, others in their opinions also confirm the reliability of the bank in question and the recurring opinions are above all those who have known and use the services for years, even someone from the origins of the Bank itself. Some, however, find it interesting that the rates are not high and rather advantageous.

Unicredit Loans for Young Entrepreneurs and Start Up

Unicredit Loans for Young Entrepreneurs and Start Up



Unicredit does not leave young entrepreneurs alone who wish to start with a Start Up , since they have thought of a type of financing suitable for this category. In fact, the lending institution supports new business ideas with a loan of up to 100,000 euros.

To be precise, this funding concerns those who are thinking of starting their own business, if they need to support the initial investments and if they are, in fact, an aspiring entrepreneur. It is therefore a new method of assessing creditworthiness that meets small businesses.

Furthermore, we illustrate, in these other lines, the other advantages of the aforementioned offer. First of all, the welcome thing is that the duration of the loan can be up to a maximum of 7 years which also include the pre-amortization. In addition, the installments can be monthly, quarterly or six-monthly, at the discretion of the applicant.

The requirements to access it are the registration to the Chamber of Commerce for not more than 21 months and the release of a guarantee. Confidi that it is at least 60% of the granted credit / loans. And again, to demonstrate the contribution of own resources of 30% of the investment plan that you want to realize and, finally, it is necessary to notify the Chamber of Commerce of the start of the activity.

Personal loans for pensioners

Unicredit personal loans for pensioners



Well, there has not yet been talk of what could happen to those who fall into the retired category and who decides to rely on Unicredit for a loan request. Precisely for them, in fact there is a special offer called Quinto Più Unicredit Pension Loan .

First of all, the maximum amount allowed that can be requested is that of 69,000 euros and, remember, the user must not exceed the age of 80 at the end of the loan. Certainly speed is the characteristic that best characterizes this type of loan.

However, even for this promotion, personal loans cannot last less than 24 months and can be extended for a maximum of 120 installments and for a total period of ten years.

What is certainly not to be underestimated is the interest rate that in this period is one of the most favorable. In fact, through Unicredit it is possible to obtain a loan at rates that are even below 10% and, among other things, with the probability of decreasing again and reaching 7%. However, the latter may depend on many factors such as one’s income and the sum requested.

Transfer of the Fifth Public Employees: contacts and quote

Unicredit Transfer of the Fifth Public Employees: contacts and quote



Lastly, as far as public employees are concerned , Unicredit offers this category another interesting possibility, which should be informed. It is, as the title suggests, the Cession of the Fifth which allows a public employee to pay a maximum amount of 72,000 euros and a private employee up to 47,000 euros.

It is a kind of financing that is certainly very convenient because you can make the repayment through the institution and the company that pays the monthly salary and can be extended from a minimum of 24 installments to a maximum of 120 monthly installments and you can get up to one fifth of net pay.

In addition, insurance coverage is also provided which is mandatory according to the regulations in force at the expense of the Bank and also credit risk and life risk. It is also important to emphasize that a rate of 5.30% is proposed exclusively dedicated to public and state employees who will fill out the contact form to request advice and information from a MyAgents Agent .

Moreover, they are given a free, non-binding estimate only within four hours during working days thanks to a MyAgents agent. For those who are not aware of it, you can find out about the MyAgents on the site. However, after having dwelt on these, although necessary information on the Assignment of the Fifth for public employees, let us then go on to make a practical example of what those who belong to this category can expect.

Imagine, therefore, that a public worker wants to request the exact sum of 26,632.39 euros to carry out a rather large project. So how could he manage it? In fact, it is a profitable loan, given that the monthly payment would only amount to 300 euros, the fixed tan would be 5.30% and the taeg, on the other hand, would be 6.51%.

Loan with Digital Signature: How It Works In Online Personal Loans, Where to Use It and How to Get It


All useful information about the digital signature loan . What is this type of online personal loan application and how does it work? We will see where it is used and how to obtain a loan through the use of the digital signature, which guarantees 100% about the identity of the customer and therefore makes the exchange of documents secure.


Loan with digital signature: what the kit is and how it works, how to get it


Loan with digital signature: what the kit is and how it works, how to get it


Today there are many forms of financing that are offered to us by banks and financial institutions. Among the features that are sought by customers there is certainly the speed of delivery . To meet this need, many companies are now offering their customers the opportunity to apply for personal loans online , which are often also referred to as digital signature loans . Thanks to the possibility of requesting a loan without having to go to the branch, delivery times can be considerably reduced, given that the procedure will be much more streamlined. The main problem faced by banks and financial institutions is that of security for both the credit institution and the client. This is because on the web it is complicated to check the identity of a person, and therefore the exchange of documentation represented a not indifferent problem. The digital signature represents in some way the answer to this type of problem.

The digital signature loan is nothing more than a personal loan that provides for an online request mode , which in turn can only be done through the use of the digital signature. But what is this digital signature? Very simply it is the equivalent of the signature that we can apply in pen to any document . Therefore the role of the digital signature is to ensure the identity of the person who is signing the loan agreement. Furthermore, the digital signature guarantees the integrity of a document , as it ensures that the document itself has not been modified following the signature by the customer. Furthermore the digital signature also guarantees in so-called ” non-repudiation “, according to which a subject cannot “deny” the signature itself as it is the only one able to affix it (just as it happens for a signature in pen on a paper document ). For all these reasons, it is essential to use a digital signature to apply for a personal online loan.

How to create your own digital signature ? To do this, it is necessary to use a special kit that can be purchased online at a fairly low price, generally between 30 euros and 60 euros. To obtain it, it is necessary to contact one of the various certification bodies that offer this type of service. For example, Aruba, Poste Italiane and InfoCert are among the main institutions that allow us to obtain the digital signature kit. There are different types of kits on the market, among which the most complete is the one with USB key, smart card and digital signature certificate, in addition to the software required for application and verification of the signature. To purchase the digital signature kit, we will need to register on the website of the chosen certification body . Once we receive the kit we will then have to activate it verifying our identity . To do this there are several ways:

  • through Public Official by going to the Municipality;
  • by going to a shipping center chosen by the certifying body;
  • online or at home if your certifying body provides for these options.


Personal loans online with digital signature: where to use and how to make the request


Personal loans online with digital signature: where to use and how to make the request


If you are interested in applying for a personal online loan then you will first need to follow the steps we have described below. For the less experienced computer technicians we emphasize that this is nothing particularly complicated : the procedure for requesting the kit and creating the digital signature, as well as the subsequent use of the same, is described step by step on the website of any certification body . Once you have created your digital signature, you can therefore forget when to request personal loans it was necessary to make an appointment at the branch . All you have to do to access a 100% online loan will be to connect to your bank or financial website. Here you will find a special area reserved for online personal loans where you will find all the services you might need . Not all credit institutions provide for the completely online request mode, however, among the main ones we point out for example Agos Ducato, Findomestic, ING Direct, Poste Italiane and not only.


How to apply for online personal digital loans? Based on the description available on the site you can easily identify the product that is right for you. Also a very useful tool is the online simulator , which allows us to calculate a completely free quote in one click . All we will have to do is specify the amount we are interested in and the duration, in order to get an estimate of the expected repayment installment and the applied Tan and Taeg interest rates. As the duration of our repayment plan changes, the monthly payment and interest rates will obviously vary, so thanks to the simulator we will be able to identify the parameters of the loan that best meet our needs. Once the best personal loan has been identified, we can finally proceed with the online request by digital signature .

All we will have to do to send our loan request will be to follow the guided procedure in which we will ask for all personal data, the income guarantees we are able to provide and our contact details. This represents only the first phase of the request , which will be accepted or not based on the financing we have requested and our reliability. In case of acceptance of the request, the company will send us the loan contract which we will have to sign, obviously using the digital signature in our possession. To affix the signature, it is necessary to use the drivers and software supplied to us by the certification body and which are part of the digital signature kit. Obviously inside the kit there are also instructions for using such software , which in any case are very simple to use. Once the digital signature has been affixed, the game is done, because it will be just as if we had gone to the branch and we had affixed a pen signature on a paper document.

Business Loans in Bank Yahav


Bank Yahav is one of the smaller banks in Israel’s financial system in terms of the credit portfolio, which is supposed to cause it to put it at a disadvantage against the other banks, but actually becomes an advantage. The reason for this is that 50 percent of Bank Yahav is owned by Mizrahi Tefahot Bank, which works closely with him, and sometimes also in a joint manner (for example, mortgages). Thus, Bank Yahav enjoys the support of a large banking entity and its advantages as a small, compact bank that gives personal attention to customers. has examples

Until a few years ago, the bank worked exclusively with civil servants, but after losing the tender, began to provide financial services to the entire population. Today he is involved in many fields, such as foreign exchange, capital market trading, investment advice, deposits, mortgages, credit and more.


Bank Yahav Business Loans Track for Government Employees

Bank Yahav Business Loans Track for Government Employees

Bank Yahav does not relate to consumer and business credit tracks in a separate manner, but offers loan options in one form, each client being treated according to his personal needs and characteristics. The options for credit that exist at Bank Yahav are as follows:

Car financing track

• Car financing track

This credit track enables Bank Yahav’s customers to receive a loan up to 100% of the value of the vehicle, with the payment spread being made up to a period of five years. It should be noted that the transaction is done in cooperation with Avis and the vehicle actually serves as collateral against the loan.


Credit track for any purpose

• Credit track for any purpose

The most flexible track in terms of its conditions, where the deployment can be made up to a period of 12 years, in accordance with the approval of the bank. The credit request can be made through a variety of channels, such as cellular, bank branches, telephone and Internet. The interest of the loan depends on the customer’s economic ability and previous credit history, and there is also the possibility of receiving a year of grace on the repayment of the loan.


Credit track for the self – employed

• Credit track for the self - employed

This track is best suited for business owners, where bank officials can tailor the characteristics of the loan to the needs of the self-employed. The amount of credit available under this track is up to NIS 100,000, with the interest rate varying according to the type of customer.

Contact Bank Yahav regarding the existing loan tracks is available at call center 2616, at various branches of the Bank or by filling out a special form on the Bank’s website.

Where to Go If You do not Give a Bank Loan?

Often, citizens say that they are not given a loan from banks. And the reason for this is not always a bad credit history. Now banks have a strict policy, many of them prefer to work only with regular borrowers, and the likelihood of approval in all banks has become lower. If you need money, but banks are constantly denying you, pay attention to the proposals of microfinance organizations.

What is microfinance organization

Where to go if you do not give a bank loan

These are companies that have long been working in the credit market of the country and occupying a certain niche in it. They provide citizens with urgent microcredit on the most simple conditions. It is to them appeal citizens who can not get approval from the bank.

Who can get money in microfinance:

  • citizens with a bad credit history;
  • retirees and young borrowers;
  • unofficially employed citizens;
  • citizens living on unearned income source.

Do banks give credit if the applicant’s credit history is flawed? No, under such circumstances it is even pointless to contact them. But microfinances work with such citizens, they are ready to consider all applications.

Like banks, microfinance organizations are subordinate to the Central Bank and operate within the framework of the Consumer Credit Act. To obtain a loan, you should choose a legal microfinance, information about which is in the register of microfinance organizations of the Central Bank.

Microfinance loan programs

Microfinance loan programs

All credit programs of microfinance organizations can be divided into two large parts – these are office loans and those that are provided to citizens without the need to go anywhere, that is, directly at home.

1. Office loan. These programs are similar to express bank loans, so the criteria for borrowers are somewhat higher. For example, with a negative dossier, getting approval is rather difficult. But if the problem is different – age or lack of references, then the program is quite suitable.

An application for such a loan is sent to a microfinance organization online, and after preliminary approval, the citizen must go to the office where he will take his money.

Features of the program:

  • the amount of issue – up to 50000-80000 rubles;
  • issue term – up to a year;
  • payments are made once a week or two;
  • approval percentage is lower.

2. Online loan. OIf you are thinking about whether you will give a loan with a bad credit history, then this option of issuing a loan by you is most suitable. Online loans are provided completely remotely. These are loans of a small limit, which are issued instantly around the clock.

After submitting an online application, a citizen receives a response in 10-30 minutes, and after approval, the money is sent to him by transfer. You can use your bank card, bank account or electronic wallet as your bank account details. Also in the name of the borrower, the lender can send a money transfer.

Features of the program:

  • available on any file;
  • the amount of issue – not more than 10,000-30000 rubles;
  • money is issued for 5-30 days;
  • return of the loan in one payment;
  • increased percentage of approval.

What you need to get a microcredit

What you need to get a microcredit

Microfinance organizations specify requirements for borrowers on their official sites. Income certificates they never require. For registration of microloans you will need access to the Internet and your passport. If you are going to receive an online loan, then you can use just the actual data of your passport, you do not need to provide the original document anywhere.

Appeals of citizens are accepted online. First you need to choose where to give a loan on your terms, and then contact the appropriate microfinance. Be sure to look at the age limits set by the microfinance. They can begin from 18 or from 21 years. But the maximum age limit is often not indicated at all, which makes it possible for pensioners to get a loan.

To get a loan from a microfinance, you need:

  • your passport details;
  • the Internet;
  • phone.

You can make a loan even from the phone. If you plan to receive a remote microloan transfer to your details, you will need to specify them in the questionnaire. Most often, citizens choose loans for cards, then in the questionnaire you will need to enter the card number, which is listed on its front side.

More about the design process

More about the design process

If you think about why they do not give a loan in a bank, then most often it is connected with the damage of the credit history. If it is really bad, look for a microfinance that indicates on its website that it is willing to cooperate with such clients.

You can apply for money at any time by filling out an application submitted by a credit company. Since all loans for microfinances are urgent, the decision will come quickly, you will not have to wait more than half an hour. This is true at night.

If you received a positive response, depending on the chosen program, you will either be invited to the office, or your details will be replenished by the amount of the loan.

In the case of a fully remote clearance, an electronic contract is concluded between the borrower and the microfinance, the terms of which must also be observed. Repayment of the loan must be made within the terms stipulated in the contract. If it is impossible to pay, you can contact the microfinance for a renewal – an extension of the term for disbursement of funds.


Student Loan: Requirements, Opportunities and Loan Calculator

Woman with banknotes in hand

Many loans in the market is liable to a somewhat difficult image. The fact that student loans are often accompanied by this warning is mainly due to the fact that the prospective academics take on some of their finances. Young men seem to be the most prone to such momentous mistakes. However, let’s just say that anyone who plans student loans in line with their needs and plans smartly is on the safe side – both in terms of long-term planning of repayments and the terms of the loans.

So for a typical student loan, the same requirements apply as with any other loan application: you should know exactly what you are getting into and what kind of burdens you can expect in the long term.


Small loans can only help with bridging

Small loans can only help with bridging

The speed with which a mini-loan or small loan can be processed is in some ways misleading. Financing with a maximum volume of € 1,000 or € 5,000 may not be an economic problem for ordinary working people. However, those who register no or only a small additional income in addition to their studies are also faced with small four-digit loan sums. Those who are not aware of this, accepting failures approvingly.

If there are complications, the young borrowers start already with money worries after active completion of the training and are burdened also by negative entries in the register of the Schufa or another credit agency, because loan rates were repeated not paid or too late. The reference to the low loan amounts is anyway only to be understood as an example.


Spending on education should not be underestimated

Spending on education should not be underestimated

Because many student loans and student loans, the funding sums move in a five-digit framework. Some borrowers apply for sums beyond 20,000 euros to cover all costs. In short: Student loans, but also education loans in general should not be taken lightly. It is also true that the number of students with credit needs has risen steadily in recent years. Education loans are in high demand. One reason is undoubtedly the study programs, which have long been adapted to the school system, which mean increasing pressure. The time for part-time jobs is missing many students. Educational loans, educational loans and similar products are therefore popular.

An advantage of student loans is the fact that many banks in this area advertise particularly favorable lending rates. Usually not out of self-interest or social responsibility, but because today’s students may be the regular high-income customers of tomorrow. As a trigger for the search for a student loan call respondents many points.

These include, among others

  • the financing of a holiday in the semester break
  • the financing of a compulsory or voluntary semester abroad
  • Expenditure on cars and rent
  • Acquisition costs for study materials and special courses / events
  • general living expenses

There are many other reasons why you may be looking for student loans, depending on the circumstances of your life. Perhaps the cause is the lack of time, which makes it difficult or even impossible to carry out a second job.


Do I really want to take out a loan as a student?

Do I really want to take out a loan as a student?

However, at this point, borrowers should be very careful about whether borrowing is the right move. With a bit of luck, there will be a career opportunity without having a university career. Because: No borrowing is always the best solution, even if you come across extremely cheap student loans . Every financing comes with burdens and obligations. Whether you want to expect this, well thought over. If, on the other hand, it is a stay abroad at a university that is as prestigious as it is unfortunately expensive, and the family lacks the financial means, then often only the student loan remains.

In this context, it is first an indispensable insight. Even with a very good degree (perhaps even with honors, scholarship or direct doctorate afterwards) is not guaranteed that you get directly into the ranks of top earners. Many new graduates have to wait a few months for the first job, in case of emergency the first time after graduation will have to be bridged with less well-paid jobs or unpaid internships. If you are aware of this risk, you should include it in your credit planning. In individual cases, a higher amount of funding is advisable to bridge possible transitional phases.


Student financing with state support?

Luckily, students can appreciate the fact that their parents not only pay the rent, plus ancillary costs and any semester fees and costs of living. If the parents can not help out, BAföG is often eligible. However, a repayment usually requires the state within the framework of the promotion of vocational training. Depending on the place of study, the subsidy is not enough to cover all fixed costs anyway. Student loans must therefore be applied for in many cases in addition. Fortunately, the number of contact points has risen in recent years. The state itself knows the need and has created special support programs. Whether a state-owned or a purely private loan is the best choice, decides the individual situation.

A well-known address for the granting of student loans: KfW Bankengruppe. The former Kreditanstalt für Wiederaufbau offers special student loans. But many branch and direct banks also have student loans in their portfolio. Here and there young borrowers sometimes encounter special conditions. We also learn some important details that students should look for when choosing credit. Important questions regarding student loans include the following questions:

  1. Are loans granted at fixed or variable annual interest rates?
  2. Which study can be supported? → Also second degree, doctorate, etc.?
  3. Is the payout complete or monthly totals?
  4. Is borrowing eligible without collateral and income?
  5. How are the repayment options?
  6. How old can applicants be at most?
  7. Until what age can loans run?

Many credit providers that provide education to students with funding are not just for students who complete their full-time education.


Student loans also for part-time students

In fact, there are also products that are suitable for part-time study or extra-occupational training. A first degree can always be funded. In contrast, you should compare exactly which loan is available for advanced and additional degree programs. Most KfW student loans (and similar funding models): Your university must be recognized by the state and resident in Germany. Of course, this can also apply to a distance learning college. If there is still a matriculation from a German university or college, temporary stays abroad are usually no problem. Ideally, you know your planned stay at the university and the various training periods. Because this way, the financing can be adjusted very precisely to your studies. If you deviate from this plan, premature recoveries can occur.


→ Important BAföG receivers should pay attention to combinability!

Not every loan offer from the student loan sector can be applied for in conjunction with benefits under the Vocational Training Act. Anyone who receives BAföG should therefore clarify this in good time with the customer service of the potentially lending bank. Normally, in credit descriptions are appropriate notes when it comes to the requirements of borrowers. By the way, courses of study which are to be completed entirely at foreign universities are often excluded in the case of funded student loans as well as courses offered by Berufsakademien. Also important is a German citizenship, but at least a German residence or a domestic registration.

For some funding programs it is sufficient if borrowers are registered in Germany and are German citizens. EU citizens must – in the case of the KfW models – have been in Germany for three years or more or are registered here. Several other alternatives also exist, which once again speaks for the accurate reading of educational loan conditions.


Maximum age for student loans

Maximum age for student loans

The clear lower limit for independent borrowing in Germany is 18 years by law. This information is important, among other things, because the so-called “turbo-Abi” increasingly gives students who start their university life as a minor. Parents would then have to act as borrowers, so that loans would ultimately only be a training loan in the figurative sense – even if the funds are used for the training of junior staff.

Full-time borrowers can apply for financing alone. Depending on the bank, the maximum age for student loans is quite different. For some banks, first-degree or continuation loans are only possible up to the age of 30 years. Other banks and credit institutes are also expressly aimed at working people under the age of 45 who want to work alongside their job on their professional qualifications.


How is the payment of student loans made?

At this point, the differences between bank loans and promotional programs become particularly clear. While regular loans from a training finance bank are often credited to the bank account as classic installment credits as a one-off payment, promotional loans usually provide monthly payouts. Depending on the duration of the payout phase, the amounts in the KfW example can be between € 100 and € 650 per month for a maximum of 14 semesters . This results in a maximum loan amount of 54,650 euros. The age at the beginning of the study is decisive for the maximum duration of funding. Similarly, the maximum sums also fall for many student loans from private banks.


→ KfW subsidies can apply for the normal house bank!

There is some evidence for the gradual disbursement of student loans. This ensures that borrowers do not live beyond their means. This is tempting when sums of up to 50,000 euros are paid in one go. Therefore, Deutsche Bank and other banks are also geared towards the gradual payment of installments. Applicants are advised to pay attention to this precautionary measure.


Variable loan interest or fixed interest?

There are some student loans in the market, whose providers generally work with a variable effective annual lending rate. This is not ideal if you want to know the total costs right from the start. A fixed interest rate, but at least an optional multi-year fixed interest period as in the case of KfW funding, usually proves to be more useful. Otherwise, the annual cost of your funding may eventually rise during the term. Falling lending rates are unlikely in the current period of low interest rates.


How do I refund my credit for studies?

How do I refund my credit for studies?

In the case of a student loan, a direct start of repayment would logically not be suitable for achieving a smooth debt repayment. Therefore, the repayment phase for educational loans usually begins after the (ideally) successful degree. But even here, there are differences from bank to bank. In the contracts for many loans there are indications of waiting periods. Such modalities provide you as a borrower after training end a buffer. These repayment pauses can in individual cases be up to 24 months. Precisely because the transition from the last examination to the first working day is often no fluent one, these transitional periods are a considerable relief for the borrowers.


Do I have to provide proof of my studies?

Incidentally, deviations, as in the case of the final repayment start, also exist with regard to proof requirements for the progress of studies. In particular, with funded funding, you should be prepared to provide regular proof of performance. Personal loans to a bank may be enough for enrollment certificates. Portals such as auxmoney, which are increasingly helping with the provision of private student loans, advertise loans without having to pass the credits. Not even a certificate of enrollment must be presented here many times. How long have you been studying or staying at university? Often, even this does not matter – important here is only to ensure a gapless and timely installment. In return, users of such student loans may even be eligible for a loan repayment at the end of each semester if demand has increased in the meantime.

This accommodation does not mean that the financing must be the royal road in any case. With any type of student loan, you should assume that you will go through your studies successfully to have good job and salary opportunities later. Otherwise, the risk of default during the term is high. This is especially important for offers that show a difference between interest rates during and after the study period. Initial interest rebates are accommodative, but relevant are the total costs of student loans and that they can be funded over the repayment period.


Are there any purpose bindings for trainee and student loans?

A purpose limitation is not to be expected in student loans, but you should still look carefully. This is the only way to ensure that you have free access to the capital, whether fully or in installments. Because exceptions confirm the rule also on the credit market. The vast majority of student financing lacks guidelines on how to use the funds. This does not mean that money should be spent directly on pure consumption.


How high should the student loan be?

How high should the student loan be?

Anyone who receives BAföG from the state and can count on a little additional support from the family does not necessarily have to use the maximum sums. Maybe 200 to 300 euros extra per month are enough to make ends meet. The fact that banks also like to allocate 20,000 to 30,000 euros to student loans does not mean that such sums have to be used over a five-year period of study. A detailed budget calculation of all revenue and running costs helps you to define appropriate funding amounts. Younger customers often have the advantage over fixed costs that they may be covered by their parents or the car is paid for by mum and dad. Always remember that the borrowed euro must be repaid with interest! If you already know that you are temporarily claiming the credit line, it is best to remortgage it through the training loan. In the future, however, he should no longer belong to the fixed monthly budget.


Term loan periods for students

In addition to the age of the applicants, the ” student history ” also influences the financing options. If I have already spent a few semesters behind me due to a change of study, subsidized loans can either no longer be used or can only be used for a shorter period of time. In order to finance a complete, new study, often only student loans without state support can be applied for. Regarding the scope beyond the normal period of study: Read or ask specifically how providers work. Because illness or failed examinations can quickly lead to an extension of one semester or more. Donors should not turn off the money right away in such critical moments, but show a certain amount of goodwill. As for the actual repayment period, these can be at the maximum from the beginning of the amortization, as with normal consumer credit, between 12 and about 120 months.


Can I subsequently make adjustments to the conditions?

Of course, optional adjustments to the eradication are beneficial in every case. It is particularly favorable if you can make corrections in both directions. What is meant: Borrower-friendly are primarily those loans in which you can raise or lower the initially agreed loan installments. Because the forecasts for the later income and career entry date do not necessarily correspond to the facts. Not only for deferred loans are such extras useful. If you use offers from job portals and banks where payoff starts straight away (for in-work students this is quite feasible with a high enough household income), then possible adjustments in credit rates and repayment terms will also have an overall positive effect.

Some other ways you can take advantage of an optimal student loan are:

  • unscheduled
  • Withholding of repayment at no extra cost
  • overdue loan releases

When charging credit institutions and intermediaries for these pecuniary charges, this should definitely be noted in the General Terms and Conditions. Especially the prepayment fee can quickly cause additional costs that borrowers need to know for the cost-benefit calculation. In Germany, a fee of up to 1.00% of the remaining debt is customary. Special repayments, on the other hand, can be carried out free of charge for most loans at least once a year. In some cases, however, there are annual upper limits or grace periods for such unscheduled repayments. Only after expiry of an initial period can special payments be made for some student loans. An unexpected legacy or a much better starting salary may allow a faster or complete eradication.

Avoid loans with agency fees and incidental expenses

An important tip from credit professionals is always that borrowers should avoid giving up on offers where they have to pay fees for bid brokerage. Taking such mediation services and consultations, recommendations should be made in an independent, non-binding and objective way. Finally, without exception, all aspects of fees will affect the cost of student loans. The good news: the list of free-to-borrow loans is so long that you can easily avoid costly offers from dubious service providers.

Loan rates for student loans

The estimation of financeable credit installments should always be in the focus, in addition to the APR. The Challenge: Rates should not be set too high or too low. In the case of too low rates, the repayment takes a correspondingly long time, which unnecessarily increases the costs. In the opposite case, borrowers can overburden themselves economically with their student loan. A failure can have serious consequences, including personal bankruptcy and negative entries in the Schufa Register. The long-term “financeability” has thus the highest priority. Even the occasional delay in the repayment leads to extra costs due to chargebacks and reminders. A meaningful financing plan is important in order to design suitable framework conditions that guarantee a consistent and timely repayment. Determining the current fixed costs is also relevant for student loans in this context.

Rate budget calculations should include these costs in addition to income:

  1. Rental expenses incl. Additional costs
  2. Expenditure on insurance
  3. Cost of living (food and much more)
  4. Cost of car or regular bus and train tickets
  5. further individual regular issues (club memberships, etc.)

Do not overcharge the start of the eradication. It is best to consult customer service and use loan calculators provided on the websites to help calculate the exact student loan installments. Budget planner from the Internet and the bank statements and statements of the past months against certainty about all running costs, which also have to be paid during the repayment.

Personal situation is the basis for student loans

So you see, how extensive a checklist for the preparation of your student loans should be. The type of study and the desired degree is a criterion for the selection process. The claims to monthly budgets also play a role. Can I possibly call in addition to the monthly payment amount a certain one-off payment, this is just to the start helpful. In that case, the financial burdens of acquiring expensive specialized literature or new furnishings for shared flats are often particularly high.

Special case scholarship: Application may be worthwhile

Last but not least, borrowers who have access to scholarship programs can be very fortunate. Worth knowing at this point is that a scholarship is awarded by different institutions. Not all programs are aimed exclusively at the best students in a year. Of course, the benefits should be appropriate. In particular, one’s own commitment has an influence on the chances of granting scholarships; in some cases, even a social exceptional situation can lead to a subsidy through partial or full scholarships. Applications can be submitted to various church sponsors, foundations, government agencies and various other institutions. Repayments of such special student loans are not provided here . Even if students do not expect success on the basis of their self-assessment, it is well worth the effort.

Private loans from relatives vs. Obligation to pay maintenance

Those who thanks to the family can do without BAföG, subsidized loans and student loans are usually on the safe side. However, such personal loans also want to be properly organized. Regardless of whether the sums come from the parents or grandparents, a loan agreement should be set up by a bank on such a loan as the normal loan for training. Of course, this information only concerns actual lending. For a donation over the duration of the study, there is no need for a contract. With higher parental incomes there is often no alternative anyway, because until the successful completion during the standard period of study of the first degree course (if not before an education was completed) exists in Germany anyway a maintenance obligation. Child benefits up to the age of 25 compensate for the expenditure at least partially.

Whichever student loan should always be the clear favorite: All the details mentioned should be taken into account in a long-term financing project. Thus, no significant aspect is overlooked, which could result in unpleasant extra costs or, in the worst case, even failures.