It is not easy for people who only have temporary agency work to apply for a loan despite temporary agency work. However, it is not impossible to apply for a loan if you prepare well in advance. Banks only grant a loan once the applicant’s financial situation has been checked.
So it is very important whether the applicant has a regular and high income so that the loan can be repaid. But not only the amount of income plays a role, but also whether the employment relationship is a full-time job or a temporary job. Banks are very critical when it comes to temporary agency work, because nobody knows exactly what happens after temporary agency work.
Not every employee is taken on and loses his job. If that happens, there will be no money left to repay the loan despite temporary work. This discourages many banks, so that it is often rejected if the loan is applied for despite temporary work.
How can I apply for a loan despite temporary work?
The income of a temporary worker is often not very high and the employment relationship is limited. Nevertheless, a small loan can be applied for if certain conditions are met. Since the income and employment contract are not sufficient as security, other security must be found. A guarantor is always the best in this case. This guarantor can be presented to the bank, which then decides whether the person can be used as a guarantor.
It is important to have a fixed employment relationship and a regular income that is above the garnishment-free limit. The applicant can also take out life insurance. However, not many insurance companies do this, so you have to inquire about it first. In addition, there should be no Credit Bureau entries, because this often decides on a loan contract.
Find credit online
If no credit is granted at the house bank, an offer can be found on the Internet. Innovative banks offer many solutions, so that even a loan is possible despite temporary work. However, the loan amount must be very small and the term should not be too long. The runtime is often the time in which the temporary work runs. This ensures that the loan can also be repaid.
What should be considered?
The loan amount should be kept as low as possible and should only be used if there is no other option. Spending the money on a vacation should be avoided. Important bills should be paid with the loan amount so that it is not delayed and causes additional costs. If you are looking at an offer on the Internet, you should make sure that the bank does not charge any fees before a contract has been signed. In most cases, these are dubious providers who want to sell insurance but do not grant a loan.