A loan in training is an installment loan that can be used for any purpose

Banks offer a variety of different standard loans for all customers. However, there are also loans that are tailored to a specific customer group. This also includes the loan in training, which is referred to as student loan or training loan. A loan in training is an installment loan that can be used for any purpose. The particularly favorable conditions are particularly interesting for this type of loan. The trainee receives a very low interest rate on a loan for the training. These loans are mostly so-called “blank loans” that are granted without collateral.

What loans are there as a loan in training

What loans are there as a loan in training

In addition to the installment loan, the banks also offer training loans in the form of overdraft facilities or general loans. However, these are used much less frequently. The credit line is a loan of a fixed maximum amount, which can be used in certain parts or in full.

In addition to the banks and savings banks that can be used for a loan in training, there is also government funding that can be managed through Intrasavings Bank. These are known as so-called educational loans.

The following loans are generally offered to trainees:

• Bank installment loan as a loan in training
• Special credit lines
• The overdraft facility as a loan in training
• State funding through a loan from Intrasavings Bank

What are the requirements for a loan in training?

What are the requirements for a loan in training?

A basic requirement for a loan in training is the legal age of the borrower. Because these people are so-called creditworthy customers, which is not the case with underage trainees. Another important prerequisite for a loan in training is sufficient creditworthiness or creditworthiness, which is certainly not guaranteed by a trainee salary as described on the website. The young customer’s creditworthiness is determined by Credit Bureau information and income or training allowance. Banks are often required to provide a surety.

When it comes to government funding within the framework of a loan during the apprenticeship period, this looks somewhat different. Because the approved loan amount only has to be repaid after completing your studies, with a waiting period of up to two years. This gives the trainee the opportunity to fall back on the sum in order to cover the running costs for training and living without having to think about repaying the loan. Because once real money is earned, the rate and the low interest can be repaid without any problems.

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