Today more and more people work as temporary workers. Companies like to hire them because they are especially in demand when there are delivery bottlenecks and they then do not have to hire permanent employees. For temporary workers, however, this means that they do not take a lot of money and are also in temporary employment. Money is important during this time, because all bills and livelihoods have to be financed. Many then think about a temporary loan.
Requirements for a loan
In order to get a temporary loan, applicants have to meet many requirements. The salary in the temporary employment agency must be so high that it is above the garnishment-free limit. If it is too low, this cannot be guaranteed as security for the loan. The salary must be able to cover the cost of living and the loan installments from the temporary loan, otherwise it will be difficult to apply for a loan. If the low salary is lacking as security, other security must be provided. A guarantee, a motor vehicle letter or life insurance is accepted by the banks as security.
A guarantor must prove a fixed income so that he can vouch for the loan. This guarantor can be a friend, family member or a stranger. The bank is not interested in personal relationships and only sees security in the guarantor. Life insurance should run for several years, because only then will it have a high surrender value that the bank requires.
How can I apply for a temporary agency loan?
A temporary worker who has little security should primarily turn to his house bank. This knows the customer’s financial situation and is more likely to grant a loan than foreign banks. The loan amount adjusts to the income. If the income is very low, the loan amount will also be low.
This does not have to be a disadvantage, because the monthly charges are also low and nobody gets into trouble to use their guarantor. A small loan is often granted without much formalities. However, it is also important to have a perfect Credit bureau that ensures creditworthiness. As soon as the loan has been approved, the bank will transfer the loan amount to the account within a few days.