On average, about 20,000 loans are issued in Germany per day. A very high sum. Especially when you consider that the requirements that one must provide as a borrower, are quite narrow. Because only those who have a good credit rating can also benefit from a loan.
A good credit rating also includes a good income. This must be significantly higher than the so-called seizure exemption amount. So the limit, which says how much money a person has to be left alive. For individuals, this limit is currently € 1,079.99 per month. If you are married or dependent, this limit increases accordingly. A blanket statement of the minimum income for the borrowing can therefore not be made, as this is always dependent on the borrower.
Is an income of 900 euros sufficient?
If a loan with 900 euros income is sought, then everyone should be aware that this income is not sufficient for taking a loan. Especially not if the loan is to be taken out at a bank or savings bank. Only a consumer loan would be possible, since this does not require a particularly high income. Unfortunately, all other regular loans can not be realized with such an income. The income is too low to cover all expenses and credit. In any case, the train of thought of the banks, if they decide on a lending.
It does not matter whether the income can only be considered as a sideline, because the spouse earns enough money and you only work a few hours, so you do not spend the whole day alone at home. For the banks it is too little, because neither can be impounded, nor by the low income a sufficiently good security exists.
Despite all this, nobody has to worry that there is no credit at all with 900 Euro income. There are plenty of opportunities to put the loan into action even with this low income. You just have to stretch a little more and allow some help with borrowing. Then this also succeeds.
Anyone who is married knows the procedure with certainty. The bank always inquires before granting a loan whether the spouse can not vouch for it. No matter how good the borrower’s requirements for borrowing may be. The banks and savings banks are in fact on many collateral around the credit. And the guaranteeing spouse is one of the best securities. Even if, as a borrower, you do not have to comply with the wishes of the bank.
Even a payday loan with 900 Euro income can be made with the help of a guarantor. It does not matter whether the guarantor is the spouse, partner, good friend, or relative. Rather, it is important that the additional person is solvent and receives a higher income than the actual borrower. If this is the case, then the credit is well secured and can be absorbed in many cases. Namely always, even if the private credit fits and the loan amount is not set too high.
In addition, the consumer credit mentioned above can be taken as a loan with 900 euros income. He is offered by many retailers. Mostly from the fields of technology, furniture or clothing. The consumer credit should help to pay for the purchased items with the help of small manageable rates. Financing is handled directly by the dealer, who works with a bank and completes the loan application and sends it to the bank.
Since consumer credit is earmarked, the borrower does not receive the money but receives the financed goods. The money goes to the dealer who is out of the deal with it and handing over the remaining settlement to the bank. These are then followed by the monthly installments until the consumer loan is completely repaid.
The special thing about consumer credit is the fact that there is no need for a high income. There is enough income of at least 450 euros per month. This is because the financed articles can be considered as collateral and can be seized at any time if the settlement of the debt is not regulated. On top of that, a good private credit is needed to use the consumer loan as a loan with 900 euros income.
By the way: A consumer credit is not only available at the retailer around the corner. Also many online traders offer this kind of convenient financing. They call it purchase on account or installment purchase and thus provide a loan with 900 euros income.