#loans for pensioners
Rates and Fees verified correct on November 18th, 2015
Just because you’re retired doesn’t mean you can’t take out a loan.
If you’re a pensioner and are looking for a loan, you may find your options somewhat limited. Many lenders don’t approve finance for pensioners because they are usually dependent on savings or government benefits and have no regular income.
The income and savings they currently have is unlikely to increase, so if they get into financial trouble it becomes a risk for the lender. There is also a fear that due to their advanced age the borrower may pass away before the loan is repaid.
However, despite these obstacles, it’s important to know that there are loan and financing options out there if you are retired. It’s even more important to know how to compare these options so you find the right product for you. Read on to see what’s available, compare your options and find out how to apply.
If you’re experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the Financial Counsellors hotline on 1800 007 007. It is open from 9:30am to 4pm, Monday to Friday.
Borrow up to $1000 with bad credit
Ferratum offer no credit check loans with a fast and easy online application. Apply today to get approved.
- Loan Amount: $1,000
- Loan Term: 16, 22 or 32 days
- No credit checks
- Turnaround Time: Same Day if approved
- Total Cost of Borrowing $100: 20% of borrowed amount + 4% of borrowed amount each month
- Must be 18+
- Must not be receiving benefits
- Confidential and secure!