Getting credit when you’re retired is sometimes difficult to borrow money without a CDI or being banned. In fact, everything will depend on the age of the borrower and the amount of the pension. Looking for a credit agency for a personal loan for retirees? The Credit Muniyon can, among all its attributions also make a pension credit.
Loan of money for seniors
Municipal credit is best known for its pawnshop (see also how to get a pawnshop quickly ). But for this Lyon funding body, it’s not just that. It sometimes intervenes where other banks are reluctant to commit, especially on senior loans. It is not because one has passed a certain age that one can not consume anymore, and several solutions of credits are offered to the retirees.
Can we borrow at any age?
There is an age limit to borrow, even at Credit Muniyon. One of the reasons is the risk factor, which increases as time progresses. Thus, for a person who is over 80, it is no longer possible to make a credit, and better to go to see his children or his friends.
The rule applies to both public servants and private sector retirees. But the rule goes even further: you should not have reached this age at the last deadline, that is to say that depending on the amount to borrow, you must have finished repaying before age 80.
For those who are below this age limit and who wants to get a loan, you should know that the grant of the latter is not subject to opening a bank account at the CML.
Make a senior loan
This is called loans that retirees can claim. To clarify things from the outset, it is important to know that it is possible to simulate your online credit application, on the bank’s website, especially to know how much you can borrow, and how much you will have to pay back each month ( so if it is possible to do so with his retirement pension).
The senior loan is a consumer loan, which means that it is not necessary to give proof of the destination of the money. What we are going to do with the loan is only the borrower, regardless of his age.
Personal loan for retirees
Why choose the Municipal Credit of Lyon? Simply because the conditions are good, and the rate is not among the highest in the pension credit market. In fact, the bank proposes conditions similar to those granted to civil servants.
You can do all kinds of things with a consumer loan, like taking a vacation, but also using the money to buy a new car, just because you’re retired must ride in a bin. Finally, for those who lack ideas, a personal loan can also be used to redevelop his apartment, or to do work in the house, especially if it has not been done for a long time.
What are the terms of the senior loan?
The rate is not the same depending on the amount of money borrowed. It may be 1000 euros, and go up to 30000 euros, knowing that the repayment period would not exceed 7 years.
For those who already have another loan outstanding at Credit Municipal de Lyon, the rule says that if there is still money to repay the top, the amount of capital still will be subtracted from the new loan application.
The information to be provided
As in all the loan files of the world, there is complete information to be provided to the credit agency, especially if one is retired at the time of the application.
A senior must indicate the name of his pension fund, and the date of termination of his professional activity, employee or not. The current resources will be studied under the microscope to see if they are in line with the amount of money requested. It will be necessary not to mention any additional income, such as those of his real estate investments or possible alimony.
The charges now. It may be necessary to make a loan and already have other credits in progress, which means that it must be indicated, as well as monthly payments already repaid each month.
Supporting documents to finalize the loan file
Traditional documents: identity document, proof of address, latest pension statements, tax declarations (notice of taxation). Added to this are the bank statements for the last three months. For the particular situations, of the divorce type, it is necessary to produce the proof of the judgment.
The question of insurance: paramount for pensioners
When one reaches a certain age, it is especially the insurance that can block to obtain the loan, if all the conditions are not met for it to give its validation. It should be known that, in principle, the death insurance disability is optional, but in fact, we can not really do without it, especially when more than 60 years.
There will be a health questionnaire to complete, the famous medical questionnaire. It will be necessary to note all its troubles of health, and the treatments which are currently followed by the borrower (medications taken). In addition, for those who are seriously ill or have a disability, this should also be indicated. Retirees who are 100% covered by Social Security must mention it.
Other loans from Credit Muniyon
For those who would be denied the loan for senior, know that there are other ways to borrow money from the Municipal Credit. These include pawnshops and microcredit.
The pawnshop is open to everyone. It is enough to have an object of value to be deposited, in which case one will be given a sum of money in exchange for its deposit (corresponding approximately to half of the value of the deposit). The person has 1 year to come to recover, charge to it to repay the loan plus interest, otherwise the object will be auctioned.
It is a loan with reduced formalities, which makes it possible to obtain money quickly, and thus to face an urgent need of cash if the situation requires it. In order to avoid scams, the bill of the object, if it has value, will be asked during his visit to the mount of piety.
This is a small loan that can be obtained through active associations in the Rhône-Alpes, as may be the Secours Catholique. It allows to fit professionally but not only: social inclusion is at the heart of its priorities, it can therefore interest the elderly.
For example, it can be used to pay health costs such as dental care or the purchase of new glasses. Its amount can not exceed 3000 euros.
There are many questions about credit
Without necessarily having all the answers, especially when one suffers from a disability. On this subject, read our article on credit for the disabled. To be retired or unemployed is not to have a work contract. Here, all the information to borrow without working. In the end, only one word of order: even in retirement, make a credit is possible.