Debt Consolidation Loans

What are Loans for Pensioners?

Any emergency has the potential to cripple the finances. For elderly people, there is hardly a source of side-income as they live on a pension after retirement. To help the population in post-retirement life, financial institutions and direct lenders offer personal loans for pensioners in the UK.

The interest rates and terms offered are based on various factors, that include the amount and duration of the loan. The instalments are reasonably decided to make a living out of the remaining pension. You can expect some relaxation and flexibility in terms of the convenience of the borrower.

A representative and financial expert guide the applicant throughout the process of loans for pensioners online. It is never easy to assure the elderly customers about the security and safety of any financial process online. At times, the lender may send their representative to the doorstep to help the retired personals with limited mobility.

No Credit Check

We follow a no credit check process where a hard query on the credit history is not conducted

Quick Fund Transfer

After verification and authentication are completed, the amount will be transferred to your account instantly.

Simple Eligibility

Every individual with age below 80 years and a pension can apply.

Why Take Loans for Old Age Pensioners?

Many benefits come with a loan for retired pensioner when compared to a regular personal loan. The whole process is designed for elderly people, where certain terms are made flexible for their advantage. Here are some additional benefits for the loan –

  • The process is extremely simple and straightforward with minimal documentation.
  • No need to visit the bank to submit the documents.
  • The process of instant loans for pensioners will take only a few hours to complete.
  • Terms are made flexible to help the buyers during the financial troubles.
  • Approval rate stands at over 90%, which is higher than the personal loans.
  • Lower risk of making a default as terms are less strict.
  • No broker or middlemen is involved in reducing the overall cost of the loan.
  • 100% guidance from the representative throughout the process.


When to Take Loans for Pensioners?

Some expenses are ready to empty your savings account once you bid adieu to your professional life. It is time to complete those long-term goals while living on lifelong savings and pension. However, a financial emergency can still break your finances, and you might have to look for financial aid.

Medical Expenses

The medical bills will increase over time, and there is no end to it. You might have to cover the expense if you want treatment from the physician or doctor of your choice. To make the situation worse, there will come a time when the emergency fund will run out of cash.

Instead of emptying the bank account, you can choose to take loans for pensioners with bad credit ratings. The instalments will be paid from the pension, and the emergency fund will remain intact.


There is no age limit to find love or get married. Even a small ceremony can cost you some serious money. To be on the safer side, it is recommended to take a loan to cover the unexpected expenses as well.

If not for you, there are weddings of your children or ward. The social convention requires you to pay for jewellery, ceremony, dresses, and many other expenses. This might very well create a dent on your pocket.

Home Mortgage

Your chances of a mortgage on a home take a hit when you leave a high paying job. Some lenders are hesitant to offer you money to cover the remaining equity. However, you can increase the down payment to solidify your chances of approval with secured loans for pensioners.

Another benefit of increasing the down payment is less interest and overall cost of the loan. The instalment will be less stressful to help to repay the mortgage without any default. You can strongarm the mortgage provider to offer you flexible terms with a more down payment on the table.

Car Finance

Many of the automobile enthusiasts save for years to buy the car they always wanted. However, you may find yourself a little short of money by the end because of some reason. Instead of using the car as collateral, you can take a loan to cover the remaining amount.

It is the peace of mind that comes with an unsecured loan for pensioners. The private lenders often give repayment holiday, while car mortgage may end up you losing the car.


A broken radiator, garage door, smartphone, or television can cost hundreds of pounds to repair or replace. Enough to ruin the perfect evenings you expect after the retirement. The same day loan for pensioners is a great solution to cover the heavy repair and replacement cost.

Some Tips to Repay the Loans

Every liability comes with a concern about the repayment. There is additional stress to managing the instalment in a limited income, such as a pension. These tips will help you manage the daily expenses and the monthly instalment of the loan –

Reduce the Luxuries

Your ideal retirement plan might have already taken a hit. Therefore, it requires some extreme measures for the time being to make the finances stable again. You can reduce the luxuries in your life to save money for the loan instalment.

Make a list of monthly expenses and classify them in two columns, needs and wants. You must find every possible way to either remove the entries or reduce the amount spent on items in the want column. The visits to the clubs, extravagant cigars & liquors, and unused subscriptions are some amenities to curb.

Pay Bills in Instalments

Contact your service provider to create smaller billing cycle. You can opt for monthly payments to reduce the stress of bill payment. Some providers may also provide billing cycle of a week or fortnight to further breakdown the payment.

Move to a Smaller Place

If the reason for a loan for pensioners is not a house mortgage, you can move to a smaller estate to save money on rent. The house owner may find it difficult to sell a house with sentiments attached. However, a smaller house will save them an enormous amount of money for the rest of their life.

There will be fewer taxes, maintenance cost, and potential repairs. You can rent the extra space instead of selling the house if there is an extra room. The additional income will you pay the instalments of the loans for pensioners with no credit check.

Sell the Clutter

You may have at least hundreds of pounds lying around the house in the form of clutter. Sell the items you don’t have any more use to raise some money. It will help you save some money to support the repayment without any drastic change in your lifestyle.

Why Choose Easy Cheap Loans?

Apart from the fact that we offer loan to people from every profile, there are some other strong reasons why you should choose Easy Cheap Loans.

Competitive Interest Rates

We offer competitive interest rates to the borrowers to make sure they are not overwhelmed by the monthly instalments. Even a slight difference in interest rate creates a huge impact on the overall cost of the secured loans for pensioners.

Excellent Customer Support

From the application process to the complete repayment, we provide support through every stage of the loan process. Our experts will get in touch with you as soon as you place your query or application. 

Quick Approval

The online processing system takes only a few hours to process your request. However, the time of application will affect the processing time.  

Flexible Plans

A single plan never works for every borrower. Therefore, we provide practical solutions with flexible plans to cater to different borrowers.

Contact us to know more about the loan for pensioners and clear any doubts about one of the best loans for pensioners.

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