The loan despite maternity protection is a problematic matter, because in the period of maternity protection, the pregnant woman still gets her full salary. After giving birth, she receives parental allowance for a limited period of time and what the financial situation will look like after that depends on various factors. A loan despite maternity protection can actually only be done with your partner or if you should be single parent with a guarantor.
Requirements for a loan despite maternity protection
As a future single mother, it is next to impossible to obtain a loan with a larger sum because the financial uncertainty after delivery is too much a risk factor for the principal bank. After the end of the maternity leave and the subsequent parental allowance income is very uncertain. An establishment or increase of the disposition credit could here be the sensible solution for a minimal financial credit line, because the return of the amount can be done flexibly and without time pressure.
A much better condition to get a loan despite maternity protection, are given with a life partner as a co-applicant or a guarantor. In both cases, the bank has financial security because a second person can, so to speak, provide financial support for the loan. The approval of a loan is actually a mere formality, if the Schufa information does not reveal any nasty surprises and if the credit check of the co-applicant or guarantor provides sufficient security.
In which amount can credits be used
A single mother can claim from your house bank a credit between 500 to 1000 euro after extensive examination of past account history. If you have a partner, then the total income and expenses are compared and also the future income situation inspected. In this case, with a full-time employment of the partner and with a good income and sufficient buffer zone to pay off the loan a loan can be granted up to 20,000 euros.
With a guarantor, the situation is different, although, of course, the guarantor’s credit rating is checked, the loan amount is designed for the single parent’s financial performance. Again, the sum can be measured at most to 1000 euros.