Apprentices, students and part-time employees belong to the group of low earners. These customers often find it difficult to get a loan application because their credit rating is not particularly good. Still, if you take some advice, you can successfully apply for a student loan without a guarantor.
How do you successfully apply for a loan for trainees without guarantors?
As a trainee, the banks automatically add you to a risk group. This is because the training allowance is not as high as the regular wages. In addition, with many trainees it is by no means certain whether they will be taken on after completing their training. So you have to try to convince the bank to give you a loan anyway. The best way to do this is to prepare yourself carefully for the interview.
In addition to your ID card or passport, you need the latest certificate of earnings. It may also be advisable to bring the training contract with you. If you are lucky, you can provide a written takeover guarantee from your company. This significantly increases your chances of getting a loan for a trainee without a guarantor. Since the training allowances are usually not particularly high, the loan amounts also remain low. The trial period should definitely be over.
What are the alternatives?
If you are unsuccessful with your loan application, it does not make much sense to make a new request to another bank. Since the criteria for lending are almost the same at all banks, you will likely be rejected by the second bank as well. Repeated loan applications risk a negative Credit bureau entry. As an alternative to a loan for trainees without guarantors, you can, for example, open a checking account with a credit facility.
For young people in particular, there are often offers with attractive conditions at various banks. You can also try borrowing money from other sources. There are websites on the internet where you can try to apply for a personal loan. You may also be able to borrow money from your family or relatives. As a trainee, however, you should proceed with caution and deliberation in the area, since the handling of money and loans has yet to be learned.