There is an increased credit requirement during pregnancy, especially before the birth of the first child, since in this case there is no basic equipment for a baby in the household.
Bank loans for pregnant women
If a woman applies for her loan online during pregnancy, the bank will not notice the impending birth. In the case of living together with the father, borrowing and repaying the loan are easy, since even if the father takes up parental leave, one parent receives regular wages and the second partner receives parental allowance.
Most banks do not count parental allowance on their household accounts as part of their regular income, but ideally, when the loan is applied for, both partners still receive their income from work. When a single mother applies for a loan during pregnancy, she ensures that the term of the loan is long enough and that the monthly loan installments are low enough that she can repay it with a reduced total income in the months before and after birth.
Alternatives to bank loans for pregnant women
While financial institutions classify a loan as risky during pregnancy, the lenders registered on platforms for brokering loans between private individuals are very happy to grant one. The reason for the easier lending during pregnancy via the relevant platforms is that the registered private lenders prefer to be guided by social criteria when making their lending decisions and their consent to a loan during pregnancy is seen as support for the applicant.
If single women have a very low income, they can receive an interest-free or low-interest loan during pregnancy for the initial provision of their future baby in different positions. This applies to all recipients of unemployment benefit II, to whom the job center pays an interest-free loan if there are specific needs. Universities also grant credit to their students, as does the parish to their members, if necessary, during pregnancy.
In these cases, the recipient must demonstrate that she fully uses the credit received for her child’s needs or for the costs associated with pregnancy. Most universities also have a limited budget for social credit, so they cannot approve all of the legitimate applications.