Loan money 18 years
If you want to borrow money as an 18 year old, you probably already know that the loan market is limited for you. However, this does not mean that you have no options.
Therefore, we have gathered the Danish lenders who will give you a loan as 18 years old at the top of the page.
Many young people of 18 years of age are refused when they go to the bank, precisely because they are so young and may not have any fixed income yet.
Read on to learn more about your options.
The bank or private lender?
When you want to take out a loan of 18, you will often be denied a bank. Perhaps you cannot provide security for the loan, and maybe you have no fixed income yet.
There are a lot of benefits to a private lender that you can consider.
- You should not provide security.
- You can spend the money the way you want.
- You get the money paid out quickly
- You do not have to go through a long process with a bank advisor
No special loan requirements
The lenders who lend to 18-year-olds do not place greater demands on you as a borrower than providers with a higher age limit. If the loan provider has a requirement for a minimum income of DKK 50,000, it applies to 18-year-olds as well as 26-year-olds.
However, there are some financial disadvantages for most 18-year-olds. You may only be SU as income and may still live at home.
Loan amount for 18 year olds
How much you can borrow depends on an individual credit rating. If you have a healthy economy, you will be able to take out a larger loan.
For those lenders offering quick loans, age often makes no difference when it comes to the size of the loan amount. If the merchant providers offer a loan of DKK 10,000, it does not matter whether you are 18 or 35, it is your repayment ability that determines how much you can borrow.
Read this before you borrow as an 18 year old
If you are 18 years old and have become accustomed to having money between your hands, it may be tempting to add a little extra spice to your everyday life by taking a small loan.
You can borrow money to go on holiday, party or buy an iPhone. There is nothing wrong with that, just make sure you can repay your loan within the given timeframe.
If you do not, there is a risk that the debt will grow bigger than you can handle. At worst, you may end up being registered in the RKI or Debtor Register.
Good advice before you make a loan like 18 year old
Borrow money as an 18-year-old by following these advice.
- If you want to party for your money. If you borrow money that you want to knock off on a single night, you should not borrow more than 500-3,000 DKK. Remember that it is not always worth it when you wake up again the next morning. It is also important that you can afford to repay the money within the given time frame, otherwise it may be expensive.
- Don’t take several loans. If you already have debts, you should not borrow again. It’s not a good start to adulthood, and you can quickly get into debt. If you are more responsible, do not live above the standard you can afford. Doing so can cause problems for you both now and in the future. Then it is better that you learn to save money and finance your pleasures for your own earned money.
- Loans require responsibility. If you are just in any doubt about whether or not you should take out a loan then the answer is probably that you shouldn’t. It is not cool to blame money, and if you do not get the loan back on time, then it becomes even less fat. Only take a loan if you are absolutely sure you can pay it back.
Having said that, everyone should have the freedom to borrow money if they can and will. At the top of the page, we have gathered the lenders who will lend you money while you are still 18 years old.