The requests for a loan are usually quite complex. One consumer wants a loan to fulfill a heart’s desire. The other consumer urgently needs a loan to service liabilities.

No matter how the loan is justified, the instant loan is at the top of these wishes. Because if you need a loan, you need it promptly. But what to do if the conditions for a loan do not match? For example, if a fixed-term contract boycotted the loan and moved it far away?

Take out an instant loan with a temporary employment contract

Take out an instant loan with a temporary employment contract

Agree banks only grant a loan if all the requirements are met. These prerequisites include an unlimited employment contract, which should have been in place for a few months if possible. However, many consumers do not have a permanent employment contract. Many employers are increasingly only giving temporary contracts in order to be able to deal flexibly with employees. What may be an advantage for the company is a disaster for the employee. Because he is not creditworthy.

If, despite all of this, an instant loan with a temporary employment contract is required, you have to get a co-applicant on board. This can be the spouse or a friend. But a relative is also possible here. In this context, it is important that the co-applicant, in contrast to the main applicant, has an open-ended employment contract.

Instant loan with a fixed-term employment contract

Instant loan with a fixed-term employment contract

In addition, the income must be above the important garnishment limit. The Credit bureau must not have noted any negative entries and the co-applicant should have no or only minimal other payment obligations if possible. The more money that is freely available at the end of the month, the higher the chances of an instant loan with a fixed-term employment contract.

And if possible, you should first explore these opportunities at your own bank. If this has been in the current account for some time, it can best estimate what the payment behavior of the consumer is and incorporate this into the credit decision. And with a solvent co-applicant, this decision will hopefully be positive.