One of the most important prerequisites for a positive borrowing is proof of a regular longer-term income. Therefore, a bank grants a loan during the probationary period less often.
The loan calculator is provided courtesy of Eicredit:
Although there is an income during the probationary period, nobody can guarantee the bank that this will remain the case in the long term, as there is no permanent employment relationship. The majority of credit institutions do not always want to face this uncertainty.
Compensate for the probationary disadvantage
The probationary period is usually six months. In order to be granted a loan in general, the bank demands of you on the one hand a positive Schufa and on the other a regular income. And that’s not guaranteed in the probationary period. In spite of your probationary period you do not have to give up a necessary credit.
A loan may be permitted at some banks if you have sufficient collateral or if you have a solvent guarantor for you.
For the probationary loan, guarantors are responsible for repaying the loan in compliance with the contract. If you default on repayment as an applicant, the guarantor will be held liable.
From this moment on, the guarantor is liable directly and assumes the regular payment of interest and repayment. If necessary, he will do this until the loan is repaid in full or until you can take over the payments yourself.
It is not surprising, therefore, that banks make the same credit standards to guarantors as the applicant itself.
The situation is similar with that of a co-applicant, although he is jointly and severally liable from the outset. This variant is often used in practice when lending to spouses.
The risk for the bank is thus reduced and the ability to pay is secured. If you have neither a guarantor nor any collateral for a loan during the probationary period, there is still the option to debit the checking account for bridging with a credit line.
The Dispo is useful if you urgently need money during the trial period. The MRP interest is usually much more expensive than a simple installment loan. When your trial ends in the new job, you will then take out a cheap loan to clear your balance.
But think carefully in advance whether you need the credit during the probationary period. Because you are entering into long-term financial obligations.