Giving any amount of debt, banking institutions always plan possible risks. If the risk is high, then they will not give it to you or they will offer toughened conditions. The fundamental criterion in assessing the solvency of a client is his age. It is quite logical. After all, nobody will risk giving a loan to a child of 5 years or a 95-year-old man.
A substantial portion of the issued borrowed funds is issued to borrowers who have reached working age. In this article, I want to tell you how old you can apply for a loan at Lendoff Bank and how many years they draw up a card.
So after all, at what age?
In short, based on the bank’s policy: loans, as well as credit cards, are issued to individuals whose age ranges from 18 to 70 years.
What is spelled out in the laws?
The legislation does not regulate the methods of obtaining a loan by citizens under the age of majority. There is no need to explain that a child under the age of 14 cannot independently apply for a loan because he does not have a passport and cannot be drawn up on any contract without passport data. Well, and what prevents you from getting a loan to a teenager from 14?
In the articles under the numbers of the Civil Code of the Russian Federation 26 and 28 only single rights of minors are prescribed. Of the operations of the banking sector, only the right of persons from 14 years to make deposits with banks appears there. In fact, that the law is not prohibited, it is quite possible to produce.
Formally, a teenager can get a loan, buy with these funds an ice cream box and swallow it with classmates. According to the information posted in article 175 of the Civil Code of the Russian Federation, it can be concluded that parents through the court have the right to annul any financial transaction of their children if it was performed without their permission.
Therefore, the law is not an obstacle to getting a loan by a teenager, but in this case, the whole range of risks for the actions of a minor is post by a banking organization. A reasonable question arises – does he need all this? Accordingly, the main snag here is that the bank will not approve the allocation of credit to a minor without a resolution from his parents.
How old are loans to Lendoff to be issued?
In this section, we describe two types of financing: a credit card and a loan itself. Despite the apparent uniformity – these banking products are completely different.
How old can I get a credit card holder?
As noted earlier, Lendoff Bank will not issue a credit card to a person under the age of 18. But if you really need to get a card, there are options.
The only option for a person under the age of 18 to get a credit card is to ask their close relatives to get a credit card for themselves, and to give him an additional card to use, the limit on which is set by parents. For example, the limit is 100,000 USD, and on an additional card it is 10,000 USD.
At what age is an additional Lendoff credit card available for processing? From 6 years old. We are serious! But at the same time, all responsibility lies with the parents. Again, according to article 28, a minor from 6 to 14 years old can independently perform household operations – small acquisitions, payment for museums, film distribution and other entertainment.
When a parent does not agree with the operation that his child wants to perform, he is able in certain cases to challenge it. But it will not work to return the funds to the card if the purchase is already completed.
At what age do they give cash loans?
The Lendoff consumer loan contract clearly states that cash loans in the form of loans are made to applicants from 18 years of age.
Lender’s Extreme Age at Lendoff Bank
The age of those who want to get a loan or card must not exceed the mark of 70 years. Here opposite factors influence – the level of pension provision, the availability of income, property and children. In addition, you need to be prepared for the fact that the loan rate can be quite high. Elderly people are at risk, and the bank wants to cover probable expenses.
Are there any criteria other than age?
Age is the most important indicator, but there are also characteristics that directly affect the decision of the bank:
- Does the borrower have additional income that can repay the loan?
- positive credit history;
- Does the client work
- what property is owned;
- number of dependents.
There are a lot of criteria by which bank employees are guided when considering a loan application. Now this process is automated, so the decision is made very quickly.
If you are considering the possibility of earning a cash loan or card, then your age should be at least 18, and a maximum of 70 years. The bank gives an additional credit card even to children from 6 years old.