More than seven million people are practicing a “mini job” in Germany. On the one hand, the popularity of these employment relationships increases, but often they are also accepted out of sheer necessity.
Mini-jobbers also have rights
Employers stubbornly think that people with mini jobs are less protected under employment law than the so-called “normal” employees. It is a misconception that even mini-jobbers have rights against employers. Even with banks, but it can be a difficult thing to get a loan with 400 dollars income.
People who want a loan with an income of 400 dollars are far from being on the wish list of a normal banker. The jobs are mostly poorly paid and somewhat insecure. Since collateral is not exactly the first choice, banks are reluctant to grant a loan.
Perfect reputation and prerequisite
To receive a loan, guarantors and a positive Credit Bureau are absolute basic requirements. Banks like to see guarantors standing in when the original borrower can no longer pay.
There are very important requirements for the mini-jobber. This includes a positive Credit Bureau and a good guarantor. If the mini-jobber is unable to pay, the guarantor enters into the payment obligations, banks are happy about guarantors. The most important thing for them is that the loan is well secured and there are no difficulties with repayment. The chances of getting a loan with an income of 400 dollars can therefore be increased considerably if the applicant can deposit private deposits or certain goods.
If the loan amounts are small, an immediate loan or a loan without Credit Bureau should also be considered. Such loans are often offered by intermediaries. Both generally lead to high interest rates and processing fees. It is therefore worth considering whether you really need a loan with an income of 400 dollars, or maybe better to ask for support in the family.
A loan with an income of 400 dollars up to 25,000 dollars is currently possible. With an interest rate of 3.9% to 9.9% and a maximum term of 84 months, the interest rates are even relatively moderate.