Trainee is the short name used primarily in colloquial language for a trainee. The term actually includes young people in a dual training relationship consisting of in-company training and vocational school attendance, but is sometimes also referred to young people in purely school-based training and in the year of recognition.
Trainees in the actual sense receive a training allowance in the training company, the amount of which varies depending on the profession learned and the federal state. Internally, trainees continue to refer to the craft mainly as apprentices. The basic requirement for lending to trainees is the age of majority.
Do trainees get a loan without a guarantor?
Whether financial institutions pay out a loan without a guarantor for trainees depends largely on the type of household bill they make. If a credit institution consistently applies flat rates, it rejects lending to a trainee without a guarantor in most cases due to insufficient income. Rather than direct banks, branch banks take special cases into account in their budget accounts, so that they tend to agree to a loan without guarantor for trainees.
The special case for most trainees is that they live with their parents during their apprenticeship and do not have to pay anything or only a small amount for rent and food. If the financial institution takes this into account in the household accounts, the trainee’s income is often sufficient to service the credit installments. The prerequisite, however, is that the chosen bank does not additionally require a labor income for lending that exceeds the garnishment-free limit.
If trainees have had their checking accounts since the beginning of their training, some financial institutions grant them a small credit facility on their bank account when they reach the age of majority. Trainees also have a good chance of making a positive loan decision if they apply for a loan on a website for arranging private loans. Lenders registered on the website make strong social decisions and often agree to lending to trainees.
Special training credits
As special offers, Lite Bank and various commercial banks offer a special loan without guarantor for trainees under product names such as training loans or training loans. In this case, the trainee only has to start repaying after passing the final exam. For Lite Bank to grant loans, however, the prerequisite is that the trainee incurs unusually high costs.
Trainees meet this requirement if they cannot live with their parents during their apprenticeship because the company is too far from their parents’ home. No fixed distance applies here, but the bank also takes into account the connection of the company and the parents’ home with public transport. Commercial banks allocate a training company, in part irrespective of the location of the training company to their parents’ home.
Another offer for a loan without guarantor for trainees with a low loan amount is the school and student credit card of some banks, which is generally available with a credit limit of one thousand euros. In this case, trainees are considered pupils because they attend a vocational school.