Need cash for rent deposit
Anyone moving into a new apartment has to pay a deposit of two to three months’ rent to their landlord. This is usually a four-digit euro amount that many people cannot finance from current income or savings.
In addition, it should not be underestimated that the move creates additional costs that also have to be financed. There is often no other option than to take out a loan for the rent deposit. This is especially true if the previous landlord takes time to return the rental deposit. He has up to six months to do this.
Compare loan offers
Many people who want to take out a rental deposit loan are faced with a variety of different offers. For this reason, it would be imperative to make a comparison before deciding on a loan for the rental deposit. This applies regardless of whether it is a small loan, an overdraft facility or another form of loan.
A small loan is available for as little as USD 500 and can be repaid in convenient monthly installments. The term is set individually and should not only be based on the loan amount, but also on the interest and income of the borrower. The overdraft facility is also very suitable as a loan for the rental deposit.
This would also have the advantage that the desired loan amount can be drawn on at any time and then repaid in whole or in part. However, the borrower should make sure that the account is balanced in the short or medium term. Otherwise, the overdraft facility can be very expensive, since high debit interest must be paid regularly.
A loan for the rent deposit always presupposes that the borrower has a good credit rating, which is only given if the income is sufficiently high and sufficiently secure. In addition, the Credit Bureau information should be in order.
Unemployed and Social Welfare recipients who have to move for some reason usually find it very difficult to find a suitable lender. However, this does not mean that they have to do without the planned move for this reason. You should contact your local employment office or job center and apply for an interest-free loan for the move and the rental deposit.