More and more people are choosing a part-time job to enjoy the beautiful side of life more intensively. But illnesses and family obligations mean that only part-time employment is possible. If you have a part-time job and need a lot of money for special purchases, it’s worth taking a loan.
Contrary to popular belief, a part-time job is not an exclusion criterion for granting credit. The banks are only interested in whether you have a regular and high enough income.
However, it is possible that the loan amount granted will be lower than for full-time employees. However, this is not due to the reduced working hours, but rather the often lower earnings.
Part-time job loan – what additional income is taken into account?
Of course, if you work freelance in addition to your part-time job or have a small private business, you have an extra income. However, these additional revenues are not or only partially taken into account when applying for funding. After all, many banks are of the opinion that you can give up the sideline at any time and at will.
That’s true, but you also have this “freedom” with your part-time job. If your monthly income is enough to earn a living and you have enough money to repay, nothing will stand in the way of a part-time job loan.
Credit with part-time job – what should you pay attention to?
For small loans, it is often not necessary to provide a proof of income. The presentation of identity card and debit card is usually sufficient for small sums and discretionary loans. Since you earn less money than full-time employees with your part-time job, you should not be overwhelmed by the monthly installment and term.
Better play it safe and opt for low rates and a long term, so you do not fall into the debt trap. If you are careful and have a good budget, there will be no problems with the part-time job loan.
Credit comparison on the Internet
Before you accept the “tempting” credit offer of your house bank, you should inquire on the Internet for alternatives. Many online banks offer loans on favorable terms, so you will benefit from low interest rates and long maturities.
By comparison, you have the opportunity to compare all offers within a few minutes. Thus, you no longer fall for overpriced providers and can save a lot on part-time credit.