Credit after the trial period – Who can help you
The trial period for a new employment contract in Germany is usually six months and thus corresponds to the period in which the employee-friendly conditions of the Protection against Unfair Employment Act do not apply. An extension or shortening of the trial period is possible, but does not affect the legal protection against dismissal. For this reason, financial institutions generally evaluate an employment relationship within the first half year as a trial period.
After the trial period, the loan application is usually possible
It is easier for employees to obtain a loan after the trial period than a loan without full protection against dismissal. In the case of classic employment contracts, the employment relationship automatically changes to a permanent employment contract after the end of the trial period if there is no termination. After the trial period, the applicant thus enjoys the high creditworthiness resulting from a fixed contract and can apply for a loan from any commercial bank.
Financial institutions recognize that the probationary period has ended on presentation of the proof of salary based on the entry date usually specified there. However, there is a difficulty with a loan after the probationary period, because some financial institutions require that the applicant have been employed by the current employer for at least one year for the loan. When applying for a loan immediately after the trial period, consumers take this feature into account and choose a bank whose lending guidelines allow borrowing immediately after the trial period.
If a temporary employment relationship follows the trial period
It is no longer a matter of course today that the employment contract becomes a permanent employment relationship after the trial period has been concluded. Instead, more and more employers equip their employees with successive fixed-term contracts within the first two years of employment. In this case, it is not easy to take out a loan after the probationary period, since the applicant does not receive remuneration from permanent employment and the bank does not consider the contract extension after the time limit to be secured.
On the other hand, even loans with a fixed employment contract are not necessarily secured in the long term, since both parties have a fundamental right of termination. However, the employer may not terminate fixed-term contracts for operational reasons. As a loan after the trial period with an initially limited employment contract, immediate loans without proof of income as well as personal loans brokered via relevant Internet platforms are available. Many private lenders prefer to receive requests from applicants who find it difficult to borrow from traditional banks.