There is a more or less “golden” rule in credit: if you have a fixed income, you almost always have a good chance of getting a loan! No matter who you ask, it is also said that this fixed income should also arise from an unfinished employment. But there are employment relationships that are viewed with suspicion and therefore very critical in the context of borrowing – the employment contract with a temporary employment agency. For good reason? Partly, partly! Although you have a job as an employee of a temporary work agency and earned a well-regulated income per month, but depending on the order situation or behavior of the third party, in which one is employed as a temporary worker, this can be omitted. From a bank’s point of view, it is therefore more likely to be termed, which is synonymous with unemployment at any time. A risk that hardly any bank is prepared to take – certainly not in connection with a possible loan!
Temporary employment is a risk factor in a loan
This circumstance of an ever-threatening unemployment is sufficient that banks classify an applicant for a loan as a risk and then usually do not approve a loan despite temporary employment, let alone forgive. But is not it the case that employees of a temporary work agency should have the right to apply for a loan of whatever kind and consequently to receive it? After all, you also want to be a so-called temporary worker to make purchases or pay bills that occur unscheduled. So the question arises, how can you still get a loan as temporary worker?
Increase chances of getting a loan as a temporary worker
Since it is difficult for this group of people to get a loan despite temporary work, self-initiative is announced. Those who provide themselves with sufficient collateral will also increase their chances of getting a loan, despite their time-consuming work. In the best case, you bring with you as an applicant to the bank conversation with a guarantor. He can sign the credit agreement so that the loan is secured. This guarantor may be, for example, the spouse or a friend. Banks just want a guarantor to have a stable job and a record of income enough to make a living and credit. The guarantor acts as a credit installment insurance and is thus only used when the claimant can no longer pay off the installment for the loan.
Credit despite temporary work: the loan conditions
The terms of the banks are always different, but if it is a loan for a temporary worker, then just about any bank will be awarded only a small loan with a maximum amount of 5000 €. If, as already mentioned, a solvent guarantor should be available for the loan, banks should also increase this loan amount accordingly. The interest rates are somewhat higher due to the increased credit default risk than with a normal loan. The term of the loan is adjusted to the duration of the employment contract. As long as the employment relationship is running, so long is usually so then the credit. This is done for the reason that you are not in debt as a borrower if you are not employed under the time contract and possibly threatened by unemployment.