People over 60 are not poor parents in obtaining a consumer credit. Despite their age, they still have projects related to everyday life to carry out.
These are retirees and annuitants. Included in this category are disabled elderly people who are physically impaired. The system of borrowing is such that there are solutions for them.
What to do first?
Do you have a bank account? The first thing to do is to contact your banker. He will see the progress of your banking movements: income and expenses. If you appear to be a good manager, the bank will not hesitate to grant you a loan but that will certainly be accompanied by insurance loan to cover a possible breakage due to illness or death.
Do not hesitate to use promotional offers. Banks do them regularly during major economic events.
You are 60 years old. You must first contact your bank for a loan. In the case of a refusal, approach another financial institution. In other words, you change banks outright: new account, new domiciliation of income and investments. A new bank is in principle willing to make eyes soft to satisfy a new customer even old if the latter can come to convince of its solvency.
You have to do a simulation
Before borrowing, go to an online simulator / comparator to assess your debt capacity and determine the amount, duration, rate, monthly payments that should not exceed 33% of your monthly income.
You can compare the offers of financial organizations. You will retain the one that suits your project and your financial situation. You should know that the unassigned loan is more expensive than the loan assigned.
You can borrow differently
Seniors can also apply for a loan out of the traditional banking circuit. Creditstair for example, collects money from investors in funds and lends to individuals. Insurance is not compulsory.
Under 70s can use Blueloan’s service to apply for a loan. The system is based on the free participatory guarantee. The loan is granted to you however 5 friends or close relatives feed a kitty equal to 5% of the loan. This money will be immediately returned to maturity.