Credit during parental leave

A loan during parental leave is important for many new parents to be financially secure. With the birth of a baby not only new duties on young couples come to, but also expensive investments.

Parental loan

Parental loan

 

A parental loan helps to dress the baby, to finance furniture for the nursery or to buy a stroller. Because especially at parental leave, the money is scarce. With the parental allowance, the caring parent receives 67 percent of the net income. Nevertheless, it is usually problematic to show the liquidity required by the bank for a loan, but it is always worth a try.

Many donors believe that parental allowance is not an income. As a result, these credit institutions have difficulty approving credit during parental leave. According to such a calculation, the rates of the loan could not be borne by the income. For the banks this is therefore a risk because the parental allowance is paid as such only for a limited period of 12 to 14 months. Thereafter, it is not certain that the previous employment (if any) can be resumed.

For this reason, parental allowance is not included in the viability calculation during the credit check. In general, the credit institution does not accept time-limited cash receipts. Unfortunately, it is almost impossible to get a loan approved during parental leave. If, however, the partner who does not stay at home had sufficient income, the chances of obtaining a loan would be quite good. Another possibility is the inclusion of a guarantor.

Choose low sums

Choose low sums

 

From the point of view of the bank, a loan approval during parental leave guarantees a high default risk. If young parents urgently need money, you may want to try a small loan. Smaller loans on short terms are usually awarded without any problems during parental leave.