Getting payday advance installment loans while retired is now easier than ever. Discover the best financing options for you.
As long as we enjoy regular, justifiable and sufficient income, such as pension for retirement, we can access the financing we want. Currently, we can access loans for very different retirees, each type with certain characteristics and advantages that will make them more or less adapted to our needs according to the purpose we want to give them. These are the types of loans for retirees that we can currently access:
- Personal loans : is the traditional financing. They are larger loans that we can use to finance projects such as buying a car, renovating our home, etc. The maximum amount that we can access will depend on our income and the purpose we want to give it.
- Consumer loans : they are a way of financing the purchase of products and services. These types of loans are usually offered in the same company where we want to buy the product. As the ultimate goal of the entity is the purchase of the product offer very attractive conditions such as financing without interest. The maximum amount that we can access with these loans will be the total cost of the product and, unlike the other loans, they will give us directly the product we want to buy instead of the capital to buy it.
- Credit cards: they are another way to get financing. With these cards, we can get money on credit for any purpose. The maximum credit limit can be from € 600 to € 8,000 although it will depend on our profile and the entity.
As we have seen, each of these types of financing was designed to cover different needs. According to the purpose that we give to the requested money, it will be convenient to choose one or the other. For example, if we want to finance the purchase of a car, it is best to go for personal loans; but if what we want is to finance the purchase of a television, it is best to hire consumer loans.
Requirements to obtain loans for retirees
Being retired has many advantages. However, when it comes to obtaining loans for retirees we must bear in mind that in order to access the financing we need we must meet certain requirements. Although each entity has its own requirements, the vast majority co-operate under the following conditions that we must meet in order to access credits for retirees:
- Age: the maximum age usually ranges between 65 and 75 years that we should have when the term ends. Some entities extend the maximum age up to 80 years.
- Residence: Must reside permanently in national territory and have DNI or NIE.
- Income: the retirement pension that we receive must be regular, justifiable and sufficient to reimburse the credit that we request.
- Asnef: to access loans for retirees we cannot be registered in files of defaulters. Although some entities do allow people with Asnef to obtain financing, in order to access loans we must meet two additional conditions:
- That the debt does not exceed € 1,000
- That has no connection with a bank
Fulfilling these requirements we will not have any problem in accessing the financing we need. In order for our application to be approved, we must request an amount commensurate with our income.
How to apply for loans for retirees
Requesting loans for retirees online is very simple. Although each entity, depending on the type of credit we request, changes the process, the vast majority have a very similar process:
Choose amount and term: we must choose how much money we need and when we want to reimburse it. Thanks to its online simulators we can know how many interests we will pay in total according to the amount and the term that we choose.
Fill out the form and send documentation: we must fill out the form with our personal and economic data so that the entity can carry out the analysis prior to approval. In addition, we must send the relevant documentation so that the entity knows that we are sufficiently solvent.
Read and sign the contract: once our application is approved, the lender will send us a contract that we must read carefully and sign only when we agree with all the conditions and obligations that appear.
Receive the loan: once the entity receives the signed contract, it will transfer the requested capital.