Our pensioners over 13 million citizens can sometimes enter into serious financial trouble. In such cases, how much credit can retirees who commonly apply for the loan method? Many retirees are curious about the answer to this question.
Many of our retirees want to buy a house or car by adding a little more to their savings that they have been working for years, and some want to see their needs for their children or grandchildren. In such cases, we will examine how many times the salaries of pensioners with cash needs can receive loans.
Withdrawals generally do not have the problem of getting approval in loan applications. Because retirees are seen by banks under state guarantee. Most of the banks organize campaigns for retirees, whose salaries are considered to be underprivileged. The only condition for retirees to get credit is that they are not over 80 years old.
Under the age of 80, every pensioner can get a loan, and banks in most cases also require life insurance to retirees. But actually, life insurance is not compulsory by law. Of course, if there is no life insurance, it is entirely at the discretion of the bank not to approve the loan. In addition, most pensioners can get the easiest loan from salary banks.
The amount that retirees can get in loan applications generally changes. Although most banks limit the maximum requirement loan that retirees can withdraw to 50 thousand USD, this figure may decrease further depending on the amount of salary. On average, retirees who apply for general purpose loans can get 15 times more than their salaries.
One of the types of loans that retired citizens commonly apply for is housing loan. Naturally, retired people want to live in a house of their own. Due to the prolonged maturity of housing loans, most banks can act more flexibly and approve housing loans for higher figures.
In this case, although the banks plan to give approval up to 40 times of the salary, the amount of salary is an important factor here. Because, by law, the bank can give loan approvals up to 60% of the salary. To increase this figure, retirees may show additional income or submit mortgages to the bank. However, the bank does not pay more than 80% of the housing to be purchased. In such cases, the bank will want to examine the house by submitting an expertise.
With the advancement of age, retirees may generally want to renew their vehicles or own a vehicle from scratch. In such cases, there are many advantages for retirees in the vehicle loan applied. However, interest rates increase in vehicle loans compared to housing loans.
Banks usually prefer to give up to 18 times the salary of a loan when they give car loans. Although there are exceptions, it also adjusts monthly payments so that it does not exceed 60% of the retirement salary. Vehicles purchased with bank loans must not exceed 5 years of age. At the same time, more than 70% of the motor own price is not paid by the bank.