We set goals and dreams that we want to fulfill at every age – such a world. For the implementation of many of them, we need additional funds that we apply for in a bank or non-banking institutions. And what is the maximum age of the borrower to make a commitment to achieve the next goals? We’ll read about it below.
What to do to get a loan?
To be able to apply for a loan, we should start caring for our creditworthiness and ability much earlier. Our shopping habits and how money is spent affect both. We wrote more about this here. But the first good habits that we can immediately introduce are, among others timely repayment of monthly obligations and avoidance of credit cards.
Poles often tend to spend more than they have, which is why this danger is blocked when applying for a loan. Such a customer with low creditworthiness and poor credibility will simply not have the chance to get financing at the bank. And if it does, it will be expensive. Then we will have to think carefully whether the interest rate and commissions pay off at all if we want to use a loan or a bank loan.
What is the borrower’s maximum age
In each bank, we find regulations regarding the maximum age at which a customer can apply for funding by the bank. It is also specified how old the customer should be at least to be able to apply for cash. When determining the age of the borrower, banks are guided by the customer’s real ability to repay their liabilities. The amount of achieved monthly income or shopping habits is also significant for customers over 65 years of age.
The minimum limit is the statutory 18 years, and generally applies to legal capacity, such as contracting obligations. The maximum age of the borrower is related to the period in which he will repay the loan. It should be remembered that everyone who is retired achieves lower income, therefore their creditworthiness decreases. For example, at the age of 65, a bank that will grant us a loan will allow us to repay the loan up to the day we finish this age.
It is worth getting acquainted with solutions that apply to various institutions, because it may turn out that despite the lack of consent for financing due to the age of the borrower, we will get a “green” light in a non-bank institution.
Which financial product puts the least requirements to get it?
If the banks set requirements that we are not able to meet, this does not mean that this is the end of the possibility of gaining access to a financial product. We can look around on websites that offer simple and secure financial products, such as installment loans (see here), or holiday loans, etc.
So what can we do to use a financial product at the bank?
- Try to pay bills on time
- Avoid entering into credit card agreements with your bank
- Do not borrow in several places at the same time – debt spiral
If we apply these three basic principles, we already have a good starting point to apply for a loan. And in the event that we cannot use it, there is also an alternative in the form of non-bank companies that offer a range of interesting products and solutions, among which we will certainly adapt some to our capabilities. Usually a PESEL number and 18 years are required, as well as a short and simple statement of the monthly expenses we incur. Such “requirements” are set, for example, by Good Credit, which helps to achieve goals and solve financial problems every day, enabling the use of secure financial products, and the maximum age of the borrower does not matter. Simple and completely online so everyone can benefit, in addition using a phone or tablet.
Where can you find good credit?
It is worth spending a little time to find a financial product suited to our capabilities and expectations. It is not always possible for the borrower’s exact age to be the condition. At least not maximum. If you want a fast but secure solution, you can do an analysis of available solutions on the internet. Good Credit is one of the very popular and reputable safe and convenient tools for obtaining financial resources in the form of credits or loans
How long are the procedures related to granting the loan?
It all depends on the type of loan that interests us and the number of procedures that will have to be run. Usually loans for the so-called any purpose. Verification is then shortened, because the Customer does not have to meet a number of conditions and collect many documents, such as for a car loan (where verification and procedure takes several days), or a very complex – mortgage loan.
You can also put it differently. The more complex the goal for which we want to obtain financing, the longer the procedure will take, as the bank will have to check our credit history, ability and credibility before giving us permission to use a specific financial product.