Maternity loan – the specifics of a loan during pregnancy

Expectant mothers are subject to protection regulations and are not allowed to work six weeks before the expected date of birth. Already with the beginning of the pregnancy restrictions and work prohibitions apply when dealing with dangerous substances or with increased loads at the workplace.

The general prohibition of employment is extended if the temporary cessation of employment is indicated for health reasons. Expectant mothers receive benefits from the health insurance during the maternity leave, these are increased by the employer, so that no income loss incurred. A credit in pregnancy will. The need to move to a larger home and purchase the baby equipment will in many cases make it necessary to apply for a loan during pregnancy. In an employment relationship expectant mothers apply for the loan ideally before their entry into maternity protection.

The lender may not ask for a pregnancy

The lender may not ask for a pregnancy

As long as an expectant mother is not yet subject to the maternity protection provisions, the specifics of a loan during pregnancy are based on the borrower’s own responsibility. The latter may only enter into a loan agreement if it can settle the installments reliably throughout its term. That is certainly the case if she works full-time again after the end of parental leave. In the case of a planned abandonment of one’s own job or a shortening of the working time to a part-time employment relationship, expecting mothers will ensure that they can also pay the loan installments in this case. Unmarried pregnant women take the loan together with the father of the baby, so that even in the event of a separation is responsible for the repayment of the loan installments. If women take credit during pregnancy only during maternity leave, financial institutions usually insist on a co-applicant, as they do not consider the expectant mother’s income to be long-term secured. It may change its intention to resume full employment and may opt for a part-time employment relationship or a refusal to resume work.

The father of the future baby can act as a co-applicant as a guarantor. The co-application is preferable not only for social reasons, because it underlines the shared responsibility for the child more than a guarantee. Many credit institutions also prefer them, since loan guarantees granted as a result of emotional ties are not always legally binding. When taking out an instant loan without salary, the lender does not receive any information about the benefit of the maternity protection allowance. An active demand as to whether an applicant wants to receive the desired credit during pregnancy is prohibited. Existing pregnancies can, however, be recognized when obtaining maternity benefits from the salary documents to be submitted. It is easy to circumvent a bank attorney’s pregnancy in the credit conversation by asking expectant mothers to apply for the loan online. This approach is advisable anyway, as loans requested online are cheaper than loans personally requested in the bank.

Alternatives to bank loan in pregnancy

Alternatives to bank loan in pregnancy

For the baby needed items can be ordered by mail order also on installments, partially an installment agreement is also possible in stores on site. The dealer recognizes in this case the existing pregnancy alone on the basis of the ordered items. However, he assesses the financial risk as low, so he willingly gives expecting mothers the part payment option. This concession is comparable to the principle of almost all online retailers, asking only for high incomes after the income. If mothers-to-be receive Hartz IV for longer-lasting unemployment or as a supplement to low pay, the Job Center for Essential Acquisitions pays them an interest-free loan during pregnancy.

The initial equipment for a baby belongs in any case to the necessary purchases. If the pay is slightly above the top-up limit, there is usually a right to a loan on identical terms, which in this case will be paid by the social welfare office. All expectant mothers can apply for a loan in pregnancy on a private loan placement platform. Most of the lenders registered there pay attention to social criteria and the purpose of a loan. The information about the existing pregnancy in the lending is in the interest of the credit applicant, as the lenders prefer to draw requests for a loan required for the baby. The expectant mother reveals extensive personal data on the loan platform. It can rely on data protection, especially since only the platform operator knows contact addresses and bank details of the members. Contact of the pregnant applicant with potential lenders and settlement of all payments are made via communication channels and bank accounts established by the platform operator.


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