Those who have retired usually do not easily get a loan from banks. To them, the risk seems too high that the customer could die before the loan is fully repaid. It becomes even more difficult to obtain a loan if you have poor creditworthiness at an advanced age. But nobody has to despair in this situation, because there are various ways how you can still get a loan for pensioners without Credit Bureau on acceptable terms despite these unfavorable conditions.
A loan from the pawnshop
Pawn shops are proven financial organizations that can be found all over Germany. They give customers a loan for pensioners without Credit Bureau without any problems.The only condition for a loan is the deposit of a pledge, which serves as security for the loan. If this is repaid properly and on time, the customer will get his deposit back. Otherwise the deposit will be auctioned. A credit check is fundamentally superfluous with this type of loan, because the transfer of the pledge poses no risk for the lender. For example, valuable items of jewelery, watches, but also cars, machines or works of art can be used as a deposit.
A personal loan
A personal loan is another recommended alternative to get a loan for pensioners without Credit Bureau. Private loans among third parties can be applied for on specialized loan portals. This is where people who urgently need money and other people who want to earn attractive interest for borrowing their savings come together. This means that even older consumers whose creditworthiness is impaired have a very good chance of obtaining a loan. However, they must describe in their loan application exactly what the money is used for. In addition, it must be plausibly shown how the timely repayment of principal and interest is guaranteed. Even taking out large amounts of credit seems realistic here for retirees. For this purpose, the loan amount is often broken down into several smaller loan amounts. So the risk remains manageable for the individual lender.