Does the pensioner have a chance for a loan?



A pensioner has a chance to get a bank loan thanks to stable, stable income and the opinion of a reliable borrower, which this social group enjoys.

Credit conditions for retirees

Credit conditions for retirees


Many banks are willing to grant a loan to a pensioner. However, he must meet certain requirements regarding:

  • act,
  • the amount of income received,
  • credit history.

If the borrower in such a situation is additionally burdened with the need to repay another liability or is the guarantor of the loan, this is a serious obstacle to the granting of another liability. The age of the pensioner is also important for banks. Persons with approximately 70 years of age can get a loan in most banks in the country, but it will be a rather short-term commitment, granted for a maximum of 8 years, although it depends on the individual situation of the pensioner and on the policy pursued by the bank.

The loan will also not be granted for a high amount, because in the majority of cases the income of the pensioner will not be too substantial. The history of crediting with credit checker also matters.If the potential borrower has negative entries in the Credit Information Bureau, he will certainly not get a loan from the bank.

Special loan for a pensioner

Special loan for a pensioner


Few banks are willing to offer pensioners a special cash loan. Banks clearly appreciate the fact that pensioners usually fulfill their repayment obligations very reliably. When granting a loan, sometimes simplified rules can be obtained in the loan process. To determine the amount of income, the bank only needs a payslip of the retirement benefit, the decision of the retirement body to grant it, or a certificate issued, or another authorized body that pays retirement.

The advantage of pensioners applying for a loan is that they can present a stable source of income that they will not lose. They are reliable borrowers who properly guarantee timely repayment of installments.

Aretired person can get a home loan but only from the bank in which he/she has a pension account. What is the tenure of a home loan for pensioners ? The tenure of a home loan will be up to 15 years or 70 years of age, whichever is earlier.

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