Credit for Pregnant Women


Extraordinary circumstances require extraordinary measures and these are often accompanied by an increased financial need. For example, in pregnancy. Until then, you haven’t always saved up enough and you are faced with the problem of how to finance the basic equipment of the baby. With a steady and regular income, the house bank will certainly grant a loan to pregnant women without any problems, but what if you have no income or other security.

The creditworthiness is checked with every loan application

The creditworthiness is checked with every loan application

Banks check every loan application for the creditworthiness of the applicant. Any financial problem, such as missing installments in mail order companies or arrears in mobile phone bills, appears as a negative entry at Credit Bureau and leads to a rejection of the loan application. Then there is often only the way to seek financing despite a negative Credit Bureau entry.

But you also have to reckon with worse criteria. First, somewhat higher interest rates are charged to hedge and additional collateral, such as life insurance, is required to hedge the loan amount. The interest on a loan despite negative Credit Bureau information is between 7.6 and 9 percent. A loan of 6,000 USD with a term of 60 months would result in a repayment sum of around 7,500 USD.

Don’t fall into arrears


When it comes to loans for pregnant women, special care must be taken to ensure that the installments to be paid each month do not cut the budget too large. You definitely have to be able to afford the installments, otherwise you will soon run into payment difficulties and get even worse ratings. Basically, it must be said that women do not necessarily have to indicate their pregnancy when applying for a loan.

It is only important for the banks that the payment modalities are observed. The woman’s pregnancy only plays a secondary role. From a legal point of view, a bank has no reason to terminate an existing loan because of pregnancy, this can only happen if the installment payments are not made on time.