One of the indicators of stability is the working age of the client. Most recently, considering the applications of retirees, the financial organization refused, citing the risks of non-return of money and a modest income of a citizen. Practice has shown that as borrowers, individuals in this category are characterized by increased responsibility, carefully planning and proportioning their income with liabilities to the bank. Modern credit conditions allow you to find a lot of offers where you can get a loan to a non-working pensioner, subject to the measures of financial protection of the parties to the contract.
When choosing a program, you should be prepared for the bank to make additional security requirements, offering insurance, and carefully evaluate the chances for a safe return of funds when determining the loan amount and maturity.
Conditions for obtaining a loan to a pensioner
The need for additional funding can arise at any age (repairs, expensive purchases, travel). Despite the limited list, which banks give loans to non-working pensioners, you can choose a profitable option, no less interesting than standard offers for able-bodied citizens.
A feature of lending to retirees is the introduction of additional conditions. Even the most loyal bank will assess the age of the borrower, based on:
- financial capacity to service credit debt;
- the likelihood of the borrower’s premature death before the loan is paid in full.
The chances of approval of the application grows if a potential client offers:
- Attract a younger guarantor with a stable high income and excellent credit history.
- To issue security in the form of real estate or a car.
- Purchase insurance policy that provides payments in case of death or loss of health.
These measures will make it possible to consider the pensioner as a worthy borrower, who is able, if necessary, to return the borrowed funds, even if the scenario develops negatively.
Based on the age characteristics, the bank will adjust the proposal on the following parameters:
- The limited amount is due to low incomes in the form of pensions.
- A short time is associated with the risk of possible death. To receive money with a maturity of more than 5 years is unlikely.
As in the case of ordinary customers, the final loan size is determined on the basis of the amount of income, that is, the amount of stable monthly payments from the state budget.
Despite the fact that most credit programs are limited to 60-65 years of age, many large banks actively cooperate with retirees, issuing loans with repayment before the occurrence of 75-85 years.
Where to get a loan for a non-working pensioner
If there is a question of attracting additional funds, the pensioner should consider programs implemented by large banks. Special offers are ready to provide financial organizations through which a citizen receives a pension. Considering the list of which banks lend to non-working pensioners, one can find attractive conditions in other lending organizations. Before you go to a bank, you need to evaluate your chances for approval from different lenders, increasing your chances for successful registration of a profitable loan.
Before communicating with a representative of the lender should prepare a package of documents. In addition to a passport, it is recommended to have a pension certificate, a medical insurance policy, an extract of pension contributions from a bank or a certificate from the Pension Fund of Russia.
Consumer loan without restriction of target use will allow you to receive the required amount in a short time, submitting a minimum set of documents.
Maximum and minimum loan amount
Recently, most banks have reduced the requirements for their future borrowers, developing and implementing specialized programs. The advantage of lending to retirees is the presence of a mandatory guaranteed income, which in an unstable economic situation is, rather, an advantage over other categories of citizens.
The peculiarity of lending to pensioners in the lower limits of available funds. Most programs are limited to amounts of up to 200-300 thousand rubles, but you can find offers of a loan line of 500 thousand rubles or more.
The following measures can help increase the limit and agree on the application:
- Registration of a loan on the personal offer of a financial organization through which regular pension contributions go.
- Registration of a guarantee from among relatives, acquaintances, friends under the age of 60-65 years.
- Use of property as collateral for special programs.
Whatever the bank’s response, it should be remembered that in case of an urgent need for funding for the elderly unemployed, microcredit programs can be considered. With the help of microloan, you can quickly solve your financial problems, but you can get a microloan only for a strictly limited period – no more than 1 month. Otherwise, the interest overpayment will repeatedly exceed the amount initially taken.