A loan despite low income is not only available at the bank, but also at many electronic markets, department stores or mail-order companies. Usually a proof of income is required and a private credit information is obtained. And if there is a regular inconvenience and a monthly rate of 10 € is not a problem, then in many cases, the granting of a loan is no more obstacles. In the process, such a relatively small loan is not financed solely from the interest rate differential or interest margin, but from the idea of sales promotion and increased sales. Nevertheless, there is also the small loan at the bank for all low-income.
Understanding the market economy
Many banks are particularly happy to give young people a loan despite low income, if they are of age and working. Even if the apprenticeship or training is not yet completed, the young people can slowly get used to the market economy and the possibility of credit and quick shopping, especially on occasions. Thus, the disposition credit granted is often the first encounter with the credit world. Since this can be recorded daily and paid back unbureaucratically, the young people can first learn what it’s like to buy something and then only pay back.
Despite the low income, we were unable to identify any disadvantages with the loan. Since fierce competition broke out among the banks, neither minimum loan amounts nor high processing fees have deterred them. This loan, with its diverse manifestations ranging from disposition credit to monthly convenient monthly payments to genuine consumer credit, has become an indispensable part of the credit landscape.