It’s no secret to anyone that not everyone can get a loan today. And the point is not that not everyone has official employment, but the matter is about certain age restrictions set by Ukrainian banks. So what is the minimum age of a loan borrower? And what role does this age play in various lending programs?
A loan is not so easy
Good Finance, as it might seem at first glance. To do this, according to representatives of banks, the borrower must be an adult and be responsible for their actions. In addition, a client who wants to take a loan is required to meet the solvent age. Despite the fact that a passport in Ukraine can be obtained from 16 years, according to established standards, the minimum age of the borrower is 21 years.
And even if some citizens already at the age of 19 become successful entrepreneurs, their inadequacy to the minimum age may cause a refusal of a loan. And all because most bank representatives believe that at 19 years of age it is difficult to find a permanent and legal form of income, which is why when applying at this age, the client will most often hear a negative answer than a positive one.
Starting from the age of 21, potential borrowers can safely apply for a loan, but at the same time, bank representatives will pay attention to the work experience (at least it should be 3 months at the same place of work). But at the same time, an application from clients whose minimum age for a loan meets the established standards, in most cases, managers will be happy to accept. Moreover, filing an application via the Internet greatly simplifies the task.
According to statistics, banks are more likely to give loans to citizens, whose age ranges from 24 to 45 years. In addition, not only the minimum age for the loan, but also the type of loan that the borrower wants to receive, will play an important role in the decision of the bank – to approve or reject the loan application.
Consumer loans are the most common types of loans that Ukrainians most often take. As a rule, they arrange commodity loans, take loans in cash, arrange targeted loans for training, repairs and other needs. At the same time, citizens of 21 years old can apply for a consumer loan at the bank.
For example, such loans are issued by Good Credit. An application for a consumer loan can be citizens of Ukraine, whose age is from 21 to 70 years. You can submit an application online by indicating your name, taxpayer identification number, mobile phone number, passport, and also indicating the presence or absence of employment, the region of residence and the name of the group of goods that the client plans to buy in future with credit money.
In the same credit organization you can get a cash loan. To do this, specify the following data:
The loan amount in this case will depend on the type of employment of the solvent client and on the size of his monthly income.
Another advantage of lending from the age of 21 will be a working experience of at least 6 months at one place of work. Moreover, banks are most loyal to customers who have payment cards of the credit organization to which they applied. So, for example, you can get a consumer loan for any need at Ukrsotsbank, UniCredit Bank ™. The loan amount under this program will be up to UAH 150,000 for a period of up to 5 years. The interest rate will be equal to 29-33% per annum, and the amount of a one-time commission – 2% of the amount of a consumer loan.
To obtain a loan at this lending institution, the client will need to supplement his solvency with a guarantee of third parties in addition to the standard package of documents (passport, TIN, certificate of employment). These may be spouses, parents and other relatives.
In addition, it is worth considering that, despite the approved minimum age for a loan, many banks set their own age limits for borrowers. For example, citizens of Ukraine, whose age is 25 years old, can get a consumer cash loan at Renaissance Credit Bank. It is from this age that you can get a cash loan in this bank for up to 60 months, in the amount of up to 50,000 hryvnias and without income statement.
Also, starting from 25 years old, citizens of Ukraine can get a loan from this bank in retail chains, with which a credit organization actively cooperates. These include Eldorado, Foxtrot, Citrus, Hello, Protoria and others.
A cash loan for any purpose can be issued by citizens who have reached 21 years of age in Avant-Bank. Here you can get a loan for training, for the purchase of household appliances, for travel, for a wedding, etc. The amount of this loan is up to UAH 75,000 for a period of up to 48 months. If a 21-year-old citizen plans to take a loan in the amount of up to 150,000 hryvnias, he will need a surety.
The situation with credit cards is somewhat simpler. So at Good Credit you can get a credit card starting from the age of 21. Everyone can apply online for a Gold Maximum card. To do this, they will need passport data, TIN and for working citizens the name of the organization in which they work.
However, there are special offers of banks that do not fall under the minimum age rule for a loan. These include a Junior credit card, developed under the PrivatBank financial educational program. Draw up a similar card can students from 6 to 17 years. The aim of the program is to educate financial literacy of schoolchildren. With this card, they can manage pocket money and learn how to spend money correctly. In addition, when applying for a card, parents themselves can choose a credit limit for it, for example, equal to 300 hryvnias.