Banks offer loan for the retirees and pensioners.

The loan for pensioners has good media coverage. The target group of Spin Lenders or silver agers ensures good sales figures. To spur sales even further would require a comprehensive range of affordable credit options. This is exactly where society divides.

Loan for pensioners – Credit Bureau study 2013

Loan for pensioners - Credit Bureau study 2013

Loans for pensioners are part of this year’s studies on consumer behavior in Germany. The Credit Bureau study demonstrated a significant increase in lending and the increase in offers for senior loans. The extraordinary repayment reliability of senior loans also proved. About 99 percent of all loans granted were easily repaid. Seniors are turning into interesting credit customers.

It is therefore no wonder that more and more credit providers are embracing Spin Lender. Age limits are revised upwards. Insurance packages ensure that lending is twice as rewarding. In addition to the loan interest, the high commissions for the residual debt insurance are also received.

The division of society

The division of society

A loan for pensioners can only be measured with a measure at first glance. If the statistical figures from 2011 are taken as a basis, pensioners receive on average about three times the pension of a pensioner. With an average pension of 2,750 USD (average value at federal level), credit obligations can very well be met. The same statistics did not look quite as rosy for pensioners.

The Federal Ministry of Social Affairs published a pension average (men west) with 985 USD. The pension is already 65 USD below the attachment limit. (1,050 USD for single people). If the figures from the Copy Lender are used, there is a pension of 1,100 USD for East and West when viewed together. No matter which of the two numbers is correct. It becomes clear that a pensioner has hardly any credit opportunity.

The comparison of income for pensioners and pensioners is not a reason for a jealous discussion. It is only intended to show that not all success figures reach the population to the same extent. As long as politicians are linked to pension development and not to pensions, the situation will not change positively. The situation will tend to worsen due to the effects of the agenda, which reduces the purchasing power of pensions each year.

Retired credit options

Retired credit options

Due to the income gap, the loan for pensioners can only be fed from different sources of credit. The entire credit market is open to pensioners. If necessary, you can also buy additional time (age limit) through residual debt insurance and special providers. The pensioner credit up to 79 years is no longer a problem.

At a young age, retirees still have credit opportunities on the general credit market if they own a paid property. Mail order loans are also accessible, at least to a modest extent, for up to around 70 years. Afterwards, only the children can act as guarantors or “substitute borrowers”.

Retirees can find modest access to credit on their own through the private credit market. Although the retirement benefit is unlikely to allow garnishment, investors rely on age-related repayment security.

The loan for pensioners is very important for a decent retirement. Unfortunately, there are no equal opportunities for access.

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