Take out a loan for trainees
When you have finished school and are in training, a completely new life begins. Independent of the parents, not only personal but also financial decisions can then be made. Because with the training you also receive a salary that allows you to take your first financial steps.
Sometimes, however, this salary is not sufficient to really be able to fulfill all wishes. Because it is usually the case that the training allowance is small, but the wishes are quite large. In such a case, therefore, a loan is often looked for to assist the trainee. In the best case, a loan is even sought for trainees without a co-applicant. But this is only available under very specific circumstances.
When a loan for trainees without a co-applicant can become a reality
The salary or income is usually still very low during training. It can therefore only serve as security for a loan to a limited extent. In addition, the training and with it the training contract is limited in time. This means that even a loan can only be limited to a certain period.
If you want to take out a loan for trainees without a co-applicant, you have to consider these two aspects. The first step is to see that the income or salary is not too low. The banks require an income for the granting of a loan that is above the attachment allowance. This also applies to trainees. If you cannot prove this salary, you will not be able to take out a loan for trainees without a co-applicant. In such a case, a co-applicant must be named for a loan so that it can become a reality.
In addition, the loan must be chosen so that it can be repaid within the training period. Nobody can predict what will happen after the training. Can a job be found immediately afterwards? Or is further training or further education even being added? The banks will not take any risk when lending and will therefore only approve the loan until the end of the training. There will only be one exception to this rule if you are aiming for training with subsequent civil service. Then it could be that the bank approves the loan beyond the training.