How to apply for a retirement loan? The guide is packaged for you!

Nowadays, many people buy houses and cars with loans. It is easy to apply if you have a job, just provide proof of relevant work information. However, it’s not that simple in retirement. So, how to apply for a retirement loan? Here we have compiled relevant strategies for your reference!

1. According to the relevant regulations of the bank, retirees are unemployed and cannot take out loans in principle, but they can apply for mortgage loans, such as real estate, deposit certificates, real estate, etc.

2. If you want to get a loan to buy a house for your children, you can take a loan to buy a house in the name of your children. You can sign an agreement and have it notarized. The actual investors are the parents, but the house is in the name of the children. In this case, you can still get a loan.

3. In addition to banks, there are many small loan companies outside. Generally, the threshold is relatively low. Retirees can also apply for loans, but the interest rate is slightly higher than that of banks, and the risk will be greater. Be sure to choose one. Formal institutions.

4. If the loan is used to start a business, as long as the project is good, you can apply for a loan with a business license and other relevant documents. You can also find good investors to invest in.

5. If your pension is relatively high and you have considerable surplus funds after excluding daily expenses, you can go to a commercial bank or private bank to negotiate and apply for a loan. Generally, banks will still approve the loan as long as they determine that you have sufficient repayment ability.

The above five points are the guide to retirement loans. I hope they can help everyone. It should also be noted that when applying for a loan, if you reveal that you are in poor health or have had a history of major surgery, your loan application may be directly rejected.

How to get a retirement loan

How do retirees want to apply for a loan?

According to bank regulations, the age of the borrower is generally between 18 (inclusive) and 65 years old ( Inclusive), that is to say, if you are over 65 years old and have retired, you cannot apply for a loan.

In the view of banks, pensions for retirees can only be used as a basic guarantee of life and cannot be used as a reflection of repayment ability. But if the retiree starts his own business after retirement and becomes the owner of the company, then the bank will give up concerns about the repayment ability and reconsider the loan approval.

There are also loan products from financial institutions that require retirees to have good bank credit, are under 60 years old, and can get a loan of 8-15 times their salary with their retirement certificate, salary statement, utility payment slip and ID card. money. The reason why there is a large floating range is that the nature of the retiree’s original work unit, the status of the bank’s credit report, whether there is proof of financial resources, whether there is a side job, etc. are all important indicators for evaluating the loan amount.

Loan repayment methods

(1) Equal principal and interest repayment: that is, the sum of the loan principal and interest is repaid in equal monthly installments. Housing provident fund loans and commercial personal housing loans from most banks adopt this method. In this way, the monthly repayment amount is the same;

(2) Equal principal repayment: that is, the borrower will evenly distribute the loan amount and repay it in each period (month) during the entire repayment period, and pay the same amount at the same time. A repayment method that clears the loan interest from the previous transaction day to the current repayment date. In this way, the monthly repayment amount decreases month by month;

(3) Monthly interest payment and principal repayment on maturity: that is, the borrower repays the loan principal in one lump sum on the loan maturity date [with a period of one year] Applicable to the following (including one year) loans], the interest on the loan is calculated on a daily basis, and the interest is returned on a monthly basis;

(4) Repay part of the loan in advance: that is, the borrower can apply to the bank to repay part of the loan amount in advance , the general amount is 10,000 or an integral multiple of 10,000. After repayment, the loan bank will issue a new repayment plan, in which the repayment amount and repayment period will change, but the repayment method will remain unchanged. And the new repayment period shall not exceed the original loan period

(5) Repay the entire loan in advance: that is, the borrower applies to the bank to repay the entire loan amount in advance. After repayment, the lending bank will terminate the loan. loan and go through the corresponding cancellation procedures.

(6) Borrow and repay at any time: The interest after borrowing is calculated on a daily basis, and one day is used to calculate the interest. You can settle the payment in one lump sum at any time without penalty.

Can retirees get loans?

Yes. As long as you meet the loan conditions.

To apply for a personal loan, you need to meet the following conditions:

1. Have a fixed residence in the location of the lending bank, have a permanent residence or valid residence certificate, be under 65 years old (inclusive), Chinese citizens with full civil capacity;

2. Have a legitimate occupation and stable income, and have the ability to repay the principal and interest of the loan on time;

3. Have a good credit record and repayment willingness to make loans and no bad credit record;

4. Be able to provide legal, effective and reliable guarantee recognized by the bank;

5. Have a clear purpose of the loan, and the purpose of the loan complies with the relevant Regulations;

6. Other conditions specified by the bank.

Generally, for loan types such as personal comprehensive consumption loans and personal credit loans, the conditions for applying for a loan are largely based on the individual's credit accumulation in the bank. At this time, applying for a loan Try to submit some materials that can increase your credibility, such as academic certificates, income certificates, etc. The higher the accumulated credit, the larger the loan amount.

Extended information:

Loan methods:

1. Salary card loan

Some banks have salary card loans. That is, if your salary is issued to the salary card through the bank, you can apply for an individual at the bank.

2. Bank current loan

Bank current loan does not require bank statement from a designated bank, any bank is acceptable. The main requirements are that bank statements must meet a certain period and monthly income must meet a certain amount.

3. Have a mortgage or provident fund joint account

If you have a mortgage and repay it on time every month, provide the mortgage contract and mortgage repayment account statements. You can also apply for a mortgage at some banks and Apply to a loan company.

4. Insurance guaranteed loans

Part of the loan requires not only bank statements, but also an insurance guarantee.

5. Joint Guarantee Loans

Co-guarantee loans do not require the provision of collateral, but members of the joint guarantee team are required to provide guarantees for each other’s loans. Most of these loans come from credit unions, postal banks, etc.