The best offers of loans for retirees

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In the current financial market there are several entities that offer retired people the possibility of obtaining loans , although in most cases there will always be some limitation related to age. Next, we show what are the best loans for retirees in the market and who can grant them.



  • The 3 conditions to obtain loans for retirees
  • The maximum age to request credits for retirees is …
  • Discover 3 types of credits for different needs
  • When will I receive the quick loans for retirees?
  • Can I request mini-credits for pensioners with ASNEF?

The 3 conditions to obtain loans for retirees

Image result for threeThe requirements that must be fulfilled to be able to access the loans for retirees are the same that are required to contract any other credit, although, as is logical, the entities take into account the age of the applicant. Normally, they will ask us that our age does not exceed 75 years at the end of the term of the loan that we request and, in case of exceeding this limit, that we have a guarantor to support us.

As for the other conditions, one of them will, of course, have a sufficiently high pension to be able to meet the loan installments requested. To prove it, the following documents must be submitted:

  • National identity document that certifies our age (usually as a requirement we are asked to be under 70 years of age at the time of credit reimbursement) and that we live permanently in Spain.

  • Document certifying the entry of a pension.

  • Receipt from the bank in reference to the last month although according to the entity the receipt will not always be necessary.

With these documents, the entity that offers loans for pensioners can certify that we received the benefit and that we are sufficiently solvent to repay the loans without problems, within the term and without over-indebtedness, and to comply with the rest of the conditions established in the contract.

The maximum age to request credits for retirees is …

The maximum age to request credits for retirees is ...

Before granting a loan, financial institutions analyze the economic profile of the applicant and calculate their level of risk to assess whether or not to pay the loan. Obviously, age is one of the aspects that are taken into account, since credits for retirees in old age present a high risk of default when they are not backed by life insurance or by a guarantor. Therefore, the possibilities of accessing a loan will also depend on the age category to which we belong:

  • The early retirees: They will not have problem in contracting a loan if they in turn hire a life or amortization insurance. In the first case, it covers up to 65 years and in the other up to 70 years. It is important that the interested party’s age does not exceed these coverages at the end of the term of the credit for retirees. So, if we decide to request a personal loan with a long repayment period, we must calculate the maximum age that we will have when we finish repaying it.

  • Retirees under the age of 75 can apply for loans by taking out insurance and as long as they do not exceed 75 years of age at the end of the loan term.

  • Lastly, we find retirees over 75 years of age . In this case they must have a guarantor who is committed to deal with the debt in case of default or a default insurance because there are very few credits that will allow us to obtain a higher age.

When we talk about the maximum age, we refer to the age we have at the end of the term of the credit. In this way, the entity can calculate based on the term in which we will return the money, whether they grant us the capital or not.

Discover 3 types of credits for different needs

Being retired does not mean that we can only access a certain type of financing. Nowadays we can go to different ways of financing our needs. Each of these types of loans for retirees will have different characteristics that will make them more or less adapted to our financial needs:

  1. Mini loans for incidentals : up to 1,200 EUROS or 750 if we are new clients and can be entered into account up to 15 minutes thanks to the application of new technologies in the contracting and granting process. Its maximum term does not usually exceed 30 days and will be reimbursed in a single installment at the end of it.

  2. Personal loans for larger projects such as renovating a house or buying a car. These credits are granted from the 3,000 EUROS, have an average interest of 8% APR and its term will vary between a few months and several years depending on the amount requested.

  3. Reverse Mortgage : an option to increase income through a loan with housing as collateral. In other words, it is about converting the value of the house into a monthly rent. The access requirements are to have a home in property and be over 65 years old or suffer from a severe dependency.

In short, both for banks and lenders, being retired or being employed is usually valued in a similar way, provided that the user requesting a credit can demonstrate a regular income account and that exceed the limit that the entity has established.

When will I receive the quick loans for retirees?

Image result for when old personAs with any quick credit, those granted to people who receive a pension have a concession time of a few minutes. However, there are three factors that can interfere in that period and cause us to receive the money in up to 48 hours from your request:

  • The day we make the request , since some lenders do not work holidays.

  • The banks that the lender that we have gone to work with, that is, if they do not cooperate with a bank of which we are clients, the transfer could take up to 48 hours

  • That the documentation and paperwork are in good condition . It is essential that all the documentation we send is perfectly legible and up-to-date or the lender could reverse our request.

If we take into account these factors, in principle, there should be no problem in having the money in 10 or 15 minutes at most. In any case, if we want to obtain more information about it, we can always download the free guide in which we explain all this in a much clearer way and with all the necessary information to put an end to any doubt, ” When will the money come from your mini-credit? “

Can I request mini-credits for pensioners with ASNEF?

We have already commented before that among the 3 types of loans that we can request if we are retired, one of them is mini-credits. However, it is important to know if being retired, we can request these products, even if we appear in ASNEF or any other file of defaults.

However, it is recommended that before making a request for a mini loan with ASNEF being retired, let us inform ourselves, on the one hand, if the private equity lender accepts the profile of a person who receives a pension and, secondly, if grants quick credits, even if we are inside ASNEF .

In any case, if we are registered in a list of defaulters, we can always consult the free guide prepared by our experts “What rights I have if I am in ASNEF” . With this useful tool we can know everything about the lists of defaulters.