Getting a trial loan is easier than many think. With a little understanding of the risk strategy of the lender, you can understand the procedure and still enjoy the new flexibility that enables you to start your professional position at a relatively early stage. Below you can read three special features for the trial loan:
The loan applications take the probationary period into account
Most loan applications are also designed to give you a trial loan. When specifying the job, there is usually also a field in which the entry “employed since” must be entered. Probabilities and default risks are calculated from the time interval between this information and the loan application. So you usually get creditworthy even during the trial period, but the bank will not want to grant you a very high personal loan during this period.
The overdraft facility adapts to your new situation with a time delay
The advantage of the overdraft facility on the checking account is that it is quasi automatically agreed with the bank and adjusted to the new income situation. So you do not need to do anything – if you have already had an overdraft facility in your checking account – because the regular internal payment also starts the internal calculation process. As a rule, the bank will also grant a related overdraft facility after 2-3 salary payments. However, we cannot provide you with a general calculation formula for this, as many banks have very different lending strategies. However, since only the amount, your name and the intended purpose or a personnel number are on your salary transfer, the bank cannot differentiate between an “unlimited” and a “limited” salary.
This includes an honest self-examination
As already described, almost all banks already grant the normal retail customer loan during the trial period. Obtaining a trial loan is therefore not a problem, at least for small amounts. However, you should add a further test step to the pure banking process of the loan application and loan approval: Feel comfortable at the new job and also want to do it in the long term work there? If you then also feel that your new colleagues accept you, then nothing stands in the way of a small loan during the trial period.