As a rule, banks do not grant a loan with a trial period. Even if there is an employment relationship with a regular income during the probationary period, nobody can see the future. A trial period lasts three to six months.
After and during this period, the employer can terminate the employment relationship at any time and the employee automatically slips into unemployment. Then the regular income is no longer available and social benefits of all kinds are not considered income. The loan will then continue to run and the borrower will hardly be able to manage the installments.
How can a loan be taken out with a trial period?
Getting a trial loan is very difficult, but it’s not impossible. Different requirements have to be considered. For one thing, a permanent employment contract is inevitable. If the employee can already prove this during the probationary period, then a loan with a probationary period is granted without any problems. If this fixed employment contract is not available, other guarantees must be given.
Banks do not want to take any risk and always require collateral so that the loan is repaid in any case. If you take out a small loan and the term is only as long as the trial period, you also have chances to get a loan from the bank. Otherwise, only a guarantee and life insurance with a high surrender value will help. Another possibility is for a borrower to have his spouse sign it.
If one of the partners is in the probationary period and the other is in a permanent employment relationship, then both can sign the loan agreement and the loan will then be granted. There are two borrowers for a loan, but there is sufficient security for the bank.
Use car loan
If you are in the trial period, you can also take out a loan to finance the vehicle in a car dealership. The advantage here is that the bank takes the vehicle as security. If the loan is not repaid, the vehicle belongs to the bank. As soon as all installments of the loan have been paid with a trial period, the vehicle belongs to the borrower.