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graduate loan info req.

  • 06-12-2009 9:06pm
    #1
    pog it
    Registered Users, Registered Users 2 Posts: 2,912 ✭✭✭


    Hey,
    Has anyone any exp of applying for a graduate loan as opposed to ordinary personal loan. I am just back working over 2 months now and was studying before that, and I'm just wondering am I wasting my time applying with just that amount of time in current job? The loan amount will be 4.5-5k. And I have got a good credit rating in terms of not missing any payments on previous loans. I can go with my credit union alright but they are at 10% and graduate loan is at 8.9%..so if I have a chance I'll try for it.

    What ye reckon? Am I wasting my time?

    Thanks in adv. for any help folks.


Comments

  • #2
    Priapus
    Closed Accounts Posts: 114 ✭✭Priapus


    pog it wrote: »
    Hey,
    Has anyone any exp of applying for a graduate loan as opposed to ordinary personal loan. I am just back working over 2 months now and was studying before that, and I'm just wondering am I wasting my time applying with just that amount of time in current job? The loan amount will be 4.5-5k. And I have got a good credit rating in terms of not missing any payments on previous loans. I can go with my credit union alright but they are at 10% and graduate loan is at 8.9%..so if I have a chance I'll try for it.

    What ye reckon? Am I wasting my time?

    Thanks in adv. for any help folks.

    1. If you are a permanent employee
    2. have had previous loans repaid without missing any payments
    3. Only ~4K - 5K
    4. Have no existing debt or other considerable financial committments....and the repayments won't stretch you
    5. If loan is for something worthwhile (like car, or something like as opposed to a holiday)

    Yeah you are a shoe in for a loan of that amount. Not wasting time at all. Good luck


  • #3
    pog it
    Registered Users, Registered Users 2 Posts: 2,912 ✭✭✭pog it


    Rang my bank today.

    Because it's a Graduate loan they are okay with me working just two months straight (normally they need to see 6 months of work) but they want a letter from my employer signed by both of us saying I am in full time employment and how much I earn.
    I have pay slips obviously but bizarrely they don't accept them and they insist upon this letter!!

    I can get this letter done out for them obviously but I'd find it embarrassing, like I'd have to tell my boss i am applying for a loan or say something about why I need the letter, there is very little else I can say that would justify getting a loan!!

    I'm starting to think it's not worth the hassle to save 100 euro in interest, credit union don't give this hassle at all.


  • #4
    petes
    Registered Users, Registered Users 2 Posts: 8,382 ✭✭✭petes


    Employers see these letters all the time. It's just a cert of income. No need to be embarassed at all.


  • #5
    pog it
    Registered Users, Registered Users 2 Posts: 2,912 ✭✭✭pog it


    Thank you insurgent! i needed to hear that as I'd be private about these things normally and not the nicest thing to have to do really. Just spoke to him anyway and told him that I needed a letter stating X and he did ask me why but he was very sound about it, he said he'll put it on their headed paper, etc.

    woohoo. thanks a mil!


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