Which trainee does not know the small but fine money problems that can occur during the first year of employment after graduation. For one thing, because there are still the financial burdens of the just completed degree. On the other hand, also because the scant trainee end-money is not really worth mentioning. Often, however, even larger purchases are necessary. No matter whether it is a new equipment for the study or a car. After all, you have to come to work.
For trainees it is often just as difficult to get a loan as for the self-employed, the unemployed or the permanently ill. Nevertheless, one can possibly already benefit from the advantages which a subsequent official service entails.
Credit for Referendars: Does this really exist?
While it is not always easy to get a referendary loan, it is still easier than other credit problem groups. The reason is that although there is no fixed employment contract with trainee lawyers – this may already be foreseeable. Added to this is the option of a later official honor. This makes a trainee lawyer more attractive to any bank than any other “unattractive” borrower.
Incidentally, anyone in the world of finance and credit who does not have a permanently secured income or employment relationship is considered to be unattractive. It also looks quite the same when you have no or very little income. That is the case with most trainees. Therefore, there is not always a special loan for trainees – unlike so-called civil servant loans.
These are provided with particularly advantageous terms, as officials are still considered the most attractive borrowers. But how can you benefit from these as a trainee lawyer? For example, if you already have a permanent job in view. This provides the borrower in the eyes of the bank a lot of pluses. However, this must always be documented in writing.
So there is the right loan for trainees
A loan for trainees usually does not differ from a commercial loan, as we know it from all other standard credit areas. Mostly this is a loan, as it is spent on ordinary workers. The basic restrictions, special features and conditions are comparable.
However, many banks and credit institutions already offer prospective teachers and civil servants very attractive loans during their traineeship. Mostly these conditions are very good. Say: the accrued interest rates are relatively low. However, the loan sums offered here are often a bit more limited. Often these do not move beyond a maximum of 5,000 USD. Thus, appropriate loans are more suitable for small purchases.
If a larger amount of money is needed, a trainee must still resort to a standard loan. Here he is spoiled for choice. Should it be a particularly favorable loan with the bank on-site and would also a credit check not a big problem? These types of loans are still the cheapest. But even a slightly more expensive – but easily available – instant loan can make trainees use. For example, these can already be completed online. And: proof of merit, credit bureau examinations and safety information as well as long waiting and processing times.