Mothers who are on parental leave must expect changed conditions in everyday life and changed financial conditions during this phase of life. Mainly because of the limited financial resources, mothers often resort to a loan to finance consumer goods etc. during parental leave.
This is in principle possible today without any further problems.However, mothers should definitely take their own requirements into account when looking for the best offer never lose sight of the adjusted income situation when comparing. Mothers very often only have part of their income during parental leave. Parental allowance serves as a replacement for mothers’ earnings during parental leave. The parental allowance is set by law at 300-1800 USD per month, the entitlement applies up to fourteen months after the birth. The average income over the past 12 months is used as the basis for the calculation. In the case of multiple births, the entitlement is increased by a further 300 USD.
Sufficient collateral is available – this is important
When comparing several loan offers for mothers, they should definitely pay attention to the financial options and determine the repayment according to their own options. By selecting the term and loan amount, the borrower has the option of adapting the term and loan amount structure to individual requirements. Borrowers who opt for a short term have to expect high repayments and extensive financial burdens, but here the borrowing costs are lowest. A long term is associated with high total loan costs, since the repayment is made in smaller installments and the interest costs for the installment repayment are always calculated from the remaining debt. When looking for the loan for mothers on parental leave, the interest rates of the individual providers have to be taken into account.
Loan for mothers on parental leave
A loan for mothers on parental leave should never be made without a previous loan calculator comparison, numerous financial portals enable the borrower to make a free and objective comparison.
Applying for loans through capital lender is easy. An online loan application is sufficient to address both banks and private investors at a serious level. Of course, the borrower decides who gets the loan.