Cash credit for trainees

Occasionally, the definition of a cash loan is that it is paid out in cash to the borrower and not transferred to its current account as usual. However, the cash payment of loans is unusual today and occurs only in exceptional cases at the express request of the credit customer and for small loan amounts.

In most cases, the term cash advance only means that the borrower receives the requested loan at his own discretion and not for a specific purpose. In this context, the discretionary credit as well as a provision framework to the cash loans. Apprentices can apply for loans in principle, but the requirement is the age of majority, since the lending to minors is excluded by law.

Can apprentices receive a cash advance?

Can apprentices receive a cash advance?

Almost all banks grant a cash advance for trainees in the form of a disposition credit in the checking account, while the granting of larger loans is reserved due to the low training remuneration. An exception is low credit sums and long loan terms, since repayment in this case is possible despite the low income. In addition, trainees often continue to live with their parents and only have to hand over part of their income, and in some cases they are also allowed to keep it entirely.

If trainees can prove to the bank that they do not have to use their training allowance for their normal livelihood, they will get the credit they want more. However, many online banks do not undertake costly individual case examinations, so that a cash advance for trainees is most likely to be applied for at a branch bank. If the required loan amount exceeds the maximum offered by the bank, apprentices receive the desired loan when they place a guarantor.

Parents or grandparents are suitable for this if they have sufficient income or assets. Another way to get a cash loan for trainees is to provide lending without salary allowances. However, intentionally erroneous information in the credit order can lead both to a termination without notice and to criminal proceedings, so that this way should not be used.

Borrowing via websites for private lending

Borrowing via websites for private lending

Websites for arranging loans between individuals are suitable for both small and larger amounts of credit. The relevant sites are managed by licensed financial institutions under law, while actual lending is provided by individuals.

A cash advance for trainees can be obtained via the relevant pages if the description of the purpose motivates lenders to award a loan.

A cash advance for trainees can be obtained via the relevant pages if the description of the purpose motivates lenders to award a loan.

The need to indicate the reason for the credit differs from the usual procedure for cash advances, but most platforms use this term. This is justified because the actual use of the loan for the stated purpose is not checked.

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