In the case of new employment relationships, a trial period of six months is customary. Within this period, both partners may terminate the employment contract at short notice and without giving reasons. The agreement of a shorter or longer trial period is permitted, but does not invalidate the protection against dismissal after six months.
For this reason, almost all financial institutions regard the first half year of a new employment relationship as a trial period, regardless of deviations that are rarely agreed anyway, and are hesitant when it comes to lending. If employees can predict their job change or initiate it themselves, a loan with the trial period can be avoided. To do this, it is sufficient to submit the loan application before terminating the current employment relationship. It should be borne in mind that the loan installments must also continue to be paid if the bank customer does not survive the trial period at the new workplace.
Bank loan during the trial period
Financial institutions do not recognize labor income as safe during the trial period, as their client can easily lose their job within the first six months after starting work. The existence of a trial period or the commencement of work less than six months ago can be seen from the payroll. One way to get a loan with the trial period is to apply for an instant online loan without proof of income. The simplified form of lending serves to speed up the processing of applications, since domestic online banks promise payment in the case of instant loans within two to three bank working days and, due to this short period of time, documents submitted cannot be checked with the usual care.
The overdraft facility is generally maintained despite a change of job and the associated trial period. However, this only applies if the employee maintains his previous bank details. When it comes to new bank details, many financial institutions only grant the disposition framework after six months of account management. Since every bank now offers online banking, employees no longer have to keep their current accounts at their place of residence and can therefore stay with their previous bank if the change of job was associated with a move in addition to the usual trial period. As the employee can apply for a regular installment loan after six months, the temporary solution is also to use the installment facility of a credit card as a loan with the trial period.
The debit interest to be paid for the credit card account is high, so that the cardholder clears the credit card account immediately after the trial period by means of a consumer loan. If a regular bank loan is unavoidable within the first six months of a new employment relationship, borrowing with a second applicant is recommended. The prerequisite is that the co-applicant has been in regular employment for more than six months. A guarantee is also possible for a loan with a probationary period, but carries an additional risk for the bank. In contrast to joint borrowing, courts have repeatedly declared guarantees ineffective if the guarantor was emotionally closely connected to the borrower and did not recognize the scope of a loan guarantee.
Credit agencies promise in their advertisements that thanks to their work, a loan with a trial period can be successfully applied for without any problems. The commissioning of a reputable service provider is risk-free because it only charges a commission if it is successful. Credit intermediaries actually represent a large buying power and often achieve lending to customers who have failed with applications even submitted to banks.
Alternatives to the bank loan with the trial period
If employees have private supplementary pension insurance or capital life insurance, they can borrow it from their insurance company. This does not apply to government-funded contracts, since their mortgage – which is usually not rejected by the insurance company – is considered harmful and leads to an immediate loss of the subsidies or tax benefits received. Loaning of own insurance contracts is also possible during the trial period, especially since the customer guarantees the repayment of the loan with his own payment claims. The way to the pawnshop is basically possible for a loan with a trial period, however the mortgage lending value of the pledge to be deposited limits the loan amount.
If employees have a car that has already been paid for, it can be loaned and still used. In this case, the borrowing takes place during the trial period via special credit providers who accept the transfer of security of a vehicle as credit security. In any case, the required loan can be taken out with the trial period via a website for personal loan brokerage. The private lenders registered there largely act out of social motives and predominantly draw loan inquiries from loan seekers who are only able to borrow from traditional financial institutions to a limited extent. It is also advantageous for a quick subscription to the personal loan request that the private lender classifies the intended use as worthy of funding.