Since employers are not bound by terms and times, a probationary period can last anywhere from 6 weeks to 6 months. If you need a loan during this time because you are moving or are planning to move into a new apartment, you probably will not get a loan at the beginning of your probationary period. However, this can not be generalized since the lending decisions can vary from bank to bank.
Employees who have a solvent guarantor have good chances of getting a loan despite their probationary period. The guarantor is liable in case of default of the loan for the outstanding balance, including the costs incurred. Shortly before the end of the probationary period, however, lending is easier again. Employees who are guilty of nothing are rarely fired shortly before the end of the probationary period. Reputable credit companies also point out to their customers that borrowing is only possible shortly before the end of the probationary period or right at the beginning of the permanent employment, even if the private credit information provided by the borrower has no negative entries.
A loan despite probation is easier to get for married people
In the case of married people, a probationary loan is in most cases approved provided that at least one spouse can demonstrate a permanent employment relationship. Of course, the creditworthiness of married couples and spouses, as with any other credit business, must be taken into account. Medium and long-term loans can also be approved by lenders under these circumstances. Medium-term loans are, for example, loans for the financing of motor vehicles. Long-term loans are mostly used for real estate financing.
A trade credit can be an alternative to microcredit
Anyone who is in the probationary period and does not receive credit from the house bank or a direct bank can apply for a trade credit to finance household items. Many department stores, furniture manufacturers and electronics retailers offer to finance their articles. The same applies to providers of telecommunications equipment and computers. With this type of credit, only the creditworthiness of the private credit is usually checked. If the private credit information does not contain any negative entries, there is nothing to prevent it from being financed. It should be noted, however, that many small loans can also be a major monthly burden. Anyone who needs a loan despite a probationary period should in any case carry out budget planning before graduation.