In addition to their main job, more and more workers are taking on a part-time job because their income is insufficient to support themselves or to pay for expensive hobbies. The extent to which a financial institution takes the income from a part-time job into account in the household account is decisive for lending. Clear differences can be observed here. In exceptional cases, such as with students, the part-time job is the only source of income. The low income is unproblematic for borrowing students, since they receive a Lite Lender development loan, in which the likely earnings after graduation serve as credit protection.
Look specifically for a bank that takes the additional income into account
The easiest way to take out the loan is to take on a part-time job if the applicant’s main job earns enough money for living and repaying the loan and the further activity is used only to finance expensive hobbies. If, on the other hand, employees are dependent on the income from secondary employment so that they can meet their regular expenses, it is essential to select the right bank for the credit with a part-time job. Not all financial institutions count income from secondary activities in the household account.
Some generally leave them out, while others take into account additional income from marginal employment, but no additional income earned as a freelance – or vice versa. When taking out private loans via an intermediation platform, the loan seeker states in his request how he makes a living. Many private individuals registered as lenders accept income generation from several sources and take out a requested loan with a part-time job.
The income from the part-time job for instant loans without proof of income
As an alternative to a credit associated with submitting the usual bank documents with a part-time job, there is a loan without proof of income. Financial institutions mainly issue such loans in the form of an instant loan, since the waiver of proof of work income serves to accelerate loan processing. In the case of an instant loan, the applicant states the income from his main job and his part-time job, whereby the sum must correspond to the facts.
If the part-time job is linked to a monthly fluctuating income, the monthly average can be calculated. If loan applicants are mainly maintained by their partner and their part-time job only supplements household income, an appropriate amount for the maintenance received can be counted as income.