How to get loans for pensioners over 75 years , keeping away from those institutions that place this age threshold as the maximum limit beyond which funding can no longer be requested. In this guide, we will then look at how to apply to institutions to obtain loans if you are in the age group between 75 and 80 or even later.
At present, there are very few institutions that stop their access to credit for only 75 years, so do not bother to find someone willing to grant you a microcredit service, given that often the maximum age limit is raised to 80 years or even 90 years.
Furthermore, it is important to consider that many banks or financial institutions often combine insurance with insurance that protects them in case of premature death of the loan holder .
A problem to which you will have to pay attention, when you will go to request loans for pensioners over 75 years, are the interest rates (often advantageous, if you take advantage of benefits) and the additional costs to start the procedure, which unfortunately will be in any case higher than the amounts requested by institutions for lower-age loans.
As we said among the most important expenses to consider, which could greatly increase the cost of applying for retirement loans over 75 years, is that of insurance.
Given the high age, to cover themselves by the failure to extinguish the loan, the institutions oblige the customer to take out an insurance policy, the cost of which will be proportional to the age of the applicant pensioner. As a consequence, the APR will be affected, with figures not so much influenced by the actual interest rate, but by the price of the insurance itself.
So you do not have to compare the quotes proposed by the most advantageous microcredit institutes , asking for information on the interest rate and the cost of insurance, to draw a conclusion regarding the most convenient choice in the sector of retirement loans over 75 years.