First self-earned money
What a wonderful moment: The school is over, you have an apprenticeship and you finally earn your first money. With the first self-earned money you can finally buy the things you have in mind. For young people, there are no cheap loans from banks! Can an apprentice get a loan? And with a little luck, you will also get some money from the bank.
And what presents itself to many prospective apprentices as the long-awaited financial freedom, has in reality a big catch: the training costs! In the classroom, the apprentice often does not earn too much money, and sometimes these people also have to bear higher costs. For example, if apprentice training requires the purchase of a companion – be it a scooter or even a vehicle – then this is an investment that hardly a trainee can pull out of his pocket.
Of course, the solution here is always: Get a loan! However, the question always arises whether an apprentice can even get a loan! In the second part of our contribution to the apprenticeship loan, we discuss how and where you receive state funding as a trainee. Back to the menu item “Credit for apprentices” of the bank.
Apprentices apply as for any other person
For apprentices apply as for any other person with a loan application: A loan is granted by the house bank only under certain conditions, which are to be fulfilled by the borrower. A loan for apprentices is a normal installment loan that can be used for almost any purpose.
The loans, which are also called education loans, can stand out from each other by containing particularly advantageous conditions. It should be noted that, for example, interns as borrowers have a lower interest rate than other clients. If a loan is to be granted to an intern, credit institutions must comply with some important legal requirements for good reason.
Especially for apprentices, the banks have a special duty of care, so that the adolescent borrower is not over-indebted at an early age by borrowing and thus has repayment problems. For example, if the apprentice is under the age of majority, the parliamentarian refuses to grant a loan in such a case.
Young person applies for a loan
In addition, the following special rule applies to loans: If a young person applies for a loan, the permission of the parent or guardian alone is not sufficient. But even apprentices who are already mature do not necessarily get credit when they are 18. This is often due to the fact that many of them do not fully meet the requirements that banks have on debtors.
Many banks therefore also require that the probationary period be overcome and that the activity be conducted for a period of at least six months. In addition, the borrowers may not have negative Schufa entries. If only one of these conditions is not met, the probability of rejection of the requested loan increases significantly.