Banks give ordinary installment loans to disabled and non-disabled customers on identical terms. When applying for credit via the Internet, an existing disability is usually not queried, since the question of such a disability can be perceived as discriminatory and the answer is irrelevant for the credit decision.
In some cases, banks and public authorities still provide special loans for the disabled, and the applicant must actively draw attention to their existing disability. All people with a determined degree of disability of at least fifty percent are considered disabled; If the degree of disability is between thirty and fifty percent, equality is possible on request. A disability does not necessarily have to be accompanied by a walking disability, but can also be caused by diseases such as ulcerative colitis (chronic intestinal inflammation) or diabetes mellitus (diabetes) or cancer.
Loans for handicapped conversions
Special loans for the disabled are granted for the necessary construction measures, thanks to which you do not have to give up your own apartment despite the disability. Appropriate promotional loans from KfW (Kreditanstalt für Wiederaufbau) are known as measures for age-appropriate conversions and can be applied for by both owners and tenants after the landlord has approved the construction measures.
The funding amount of the conversion loan from KfW amounts to a maximum of 50,000 dollars per residential unit, the loan is also available for the purchase of age-appropriate residential property. Furthermore, district councils and municipalities grant cheap loans for disabled people on request; A prerequisite for the granting of a loan is that the use of the funds enables actual disadvantage compensation. To ensure the job of disabled workers, employers receive interest-free loans from the pension office if a disability-friendly conversion of the work environment is necessary.
On request, the disabled person himself receives a loan for the purchase or conversion of a car that is necessary for his disability if he cannot reasonably reach his job using public transport. For many diseases and disabilities, self-help groups or non-profit associations exist, which also offer interest-free or low-interest loans for the disabled within the scope of their options. In this case, it is a prerequisite that the disability was triggered by the illness being looked after by the respective aid organization.
Cheap loans for disabled people through commercial banks
Commercial banks are fundamentally free to decide on what occasions they grant discounted loans. A special loan for the disabled is therefore conceivable, even if so far hardly any bank has made use of this option. Favorable lending to socially disadvantaged groups such as the disabled is useful for the image of the bank in question. However, the target group must not automatically rate a loan for disabled people advertised as such as particularly cheap, but must check the specific loan terms.