Loan for trainees with the credit loan.
During the training for credit
The average training period for a teaching profession is approximately 3 years. For many, a long dry spell with increasing demands on a certain standard of living. At the latest now, young apprentices are learning to use money and realize that a large part of the training allowance has to be spent on living. Rent, groceries, travel expenses and luxury items – everything has its price. If you still want to get a driver’s license or want to buy your own car, you will often get a tired smile when you ask the bank for a loan.
We offer trainee loans in the range between $ 500 and $ 2,500 on favorable terms. The time for repayment should not exceed the training period. Generally, a period of 3-48 months can be selected. If the loan exceeds $ 2,500, individual collateral can be requested. This would include, for example, providing a guarantor, depositing the vehicle letter for the duration of the repayment.
Sample loan for trainees 4
Loan amount $ 1,500, term 36 months with an effective annual interest rate of 4.9%. This results in a rate of around $ 45 per month. Use is optional, the field of use in the credit request is only for statistical purposes.
Loan for trainees without guarantors
In principle, borrowers can take out loans without guarantors during their training. A surety makes sense if the loan term is to extend beyond the training period. This can be the case if a larger loan amount is required or if the monthly payment by installments is to be kept low.
A surety acts as security for the lender. If the actual borrower becomes insolvent, the lender can make use of the guarantor’s credit guarantee and demand open contributions. From this perspective, the guarantor also enters into a loan agreement. Only he is not liable for his own debts but for that of the actual borrower. He may not pursue any economic interest, as a guarantor is often related relatives who only want to help the trainee get a loan.