A loan is often indispensable during pregnancy. This is particularly true of the first child whose complete purchase a pair has to fund. In many cases, the addition of a family even requires a move. Choosing the right time facilitates borrowing during pregnancy.
Take the installment loan as early as possible during pregnancy
Working expectant mothers best receive the credit needed for their child during pregnancy at a time when they are still in full employment. This is usually the case up to six weeks prior to scheduled delivery, leaving enough time to complete the loan application after the pregnancy has been determined. A lender may not ask applicants if they are pregnant. He carries out the household bill thus with the usual labor income of the expectant mother. This ensures that she can pay the resulting installments even after the birth of the child.
An agreement whereby the borrower can make special repayments without charging prepayment interest allows for faster loan repayment in case of unexpected additional revenue. Although a favorable interest rate for the loan during pregnancy is the most important selection criterion, a flexible loan agreement with slightly higher interest rates is generally more advantageous than the cheapest, but completely rigid loan offer. Expectant mothers therefore pay attention in their credit comparison both to the interest payable and to the other terms of the contract. A single negative private credit entry does not completely exclude borrowing from domestic banks during pregnancy. Many credit institutions generally reject lending in this case,
Borrowing from non-working expectant mothers
Non-working expectant mothers will ideally receive a necessary loan during pregnancy together with their partner. This is basically possible if the couple does not or does not live together. With few exceptions, the credit banks do not require identical residence for both applicants for joint borrowing. If the partner also earns only a small income or the relationship no longer exists, borrowing together with future grandparents is also conceivable. If prospective mothers apply for a loan during pregnancy only a few weeks before the expected date of birth and at this time already receive maternity benefits, they are also considered as non-working applicants at most credit institutions.
Only a few financial institutions assess the maternity allowance of the statutory health insurance funds and their increase by the employer as a full-fledged earned income. If mothers wish to take on their loan during pregnancy, without applying for a co-applicant, they will look for the few credit institutions that consider this benefit as income in a household bill. Relevant information can be found in the respective procurement guidelines or in the comments on the income calculation on the website of a bank. For this reason, pregnant credit seekers visit the homepages of eligible loan institutions after making a loan comparison.
An organized personal loan during pregnancy
As an alternative to a bank loan, it is possible to apply for a loan during pregnancy on an online platform for private individuals. On the corresponding platforms, expectant mothers who do not engage in regular gainful employment will receive a loan much more easily than traditional commercial banks.
Unlike traditional banks, expectant mothers indicate on their request on a private money placement platform that they apply for the necessary credit during their pregnancy. While there is no such obligation, many private lenders like to write requests that support the need for funding. This is particularly true of an impending birth so that women on the appropriate platforms can easily get a personal loan during their pregnancy.