Especially now, in times of the USD crisis, there can be reorientations in professional life, which usually involve a trial period, which extends over an average of six months. Even during this period there may be bottlenecks depending on the situation, for example if the new job was preceded by longer unemployment with financial losses.
However, the borrower should carefully consider whether it is advisable for him to apply for a loan during the trial period. The term often extends to at least 12 to 36 months, while there are no security-related notice periods during the trial period. From one day to the next, if the conditions of the employer are not met, it also means a job loss with an uncertain outcome.
How do you get a loan during the trial period?
Because the trial period is not the basis for a secure existence for a bank or bank, many banks and savings banks do not grant credit in this form. The loan amount does not even play an essential role here. Extending an existing overdraft facility means loan interest of up to 15%. The worm drills ever deeper into the mud and the cost pressure increases. Only a balanced loan with an interest rate, which was determined online via an interest calculator, can help here.
What are the possibilities during the trial period?
If the employee is relatively close to the end of his probationary period and the bank can prove that his employer will then take on a permanent employment relationship, lending a loan during the probationary period is relatively easy. If this is not the case, the bank will first check the applicant carefully to see if there is anything against him at Credit Bureau. The applicant’s economic situation is also examined. If the chances here are zero, there is only one loan from a guarantor. So if a family member or friend vouches for the loan repayment, nothing stands in the way of the loan.
Some credit institutions also offer instant loans online for probationary graduates online. Interest rates are a bit higher, and hardly any collateral is required other than proof of wages. (Nevertheless caution) If the credit is for the purchase of a new washing machine or television, we recommend a merchant’s credit. In many cases, collateral and income are irrelevant, since the merchandise belongs to the retailer to the last installment and thus serves as security. Likewise, when buying a car on credit from a car bank, the bank’s car mainly serves as security.
You should carefully consider in advance during the trial period whether the loan is important during the trial period, what it should be used for and possibly look for alternatives.
There is a saying: “Sometimes looking in the other direction can be the right thing”.