there are loans for retirees

Are there loans for retirees?

Wanting money to buy a car, travel or start a business has no age limit, but to ask for a loan, is there an age limit? This question is accompanied by another question, are there loans for retirees? In today's post we want to answer that question, keep reading and learn about the options for the elderly.

Age, an impediment to apply for a loan?

There is a frequent doubt when applying for a loan, will they accept my application? This question hangs around a lot in people of a certain age, especially those over 50. This happens due to the requirements that lenders demand to apply for a loan. Age is one of them, since entities must ensure the return of the money by the borrower. Below we show 3 elements to evaluate for the approval of a loan.


When studying the application for a loan, the entity calculates the age that the borrower will be when they finish paying the debt. This is because after age 70, according to statistics, the death rate is higher. Also, we can say that this rule is not entirely strict, since there are options that allow retirees to obtain a loan.

History of delinquency

One of the most important points to evaluate when approving a loan is the delinquency history. With this, the lender will be able to determine whether a customer is profitable or not. The online loan market has entities that grant loans to people who appear on the Nigerian Loan authority lists. In general, they are allowed for requests of less than € 1,000.

Financial history

Loan entities carry out an analysis of the financial history in order to assess the risks of non-payment. In the analysis, the client's liquidity, monthly income, and loan payments (if applicable) are evaluated. This information will help the lender to approve or deny a loan.

Are there loans for retirees?

The market for financing products is experiencing a moment of expansion. This creates many loan opportunities. Retired people have one characteristic that makes them a profitable customer, and that is their fixed monthly income. Therefore, there are loans for retirees. For loans less than € 1,000, the application is simpler and easier to approve. But when we talk about higher quantities, the requirements are more demanding, these are some of them:


The person who pledges as collateral will be responsible for paying in the event that the borrower defaults on the payment. A guarantor is usually a relative or person with demonstrable financial solvency.

Life insurance / Amortization insurance

One of the most common backups is life insurance. This serves to protect the interests of family members in the event of death, since it will be responsible for canceling the debt acquired.

Guarantees (car, home, etc)

When a loan of a high amount is requested, a property or a car, among others, may be required as collateral. In this way, lenders will be able to repay the debt in case of default.

The maximum age established is 75 years. The age is stipulated when you finish paying the loan, but not when you request it.

In Ideal Loans there are loans for retirees , thanks to its comparator that has the best options in the online market.

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