Borrow Money Online 18 Years Old

Why do banks not support online loans from 18 years old?

The reason for not supporting the 18-year-old loan comes from factors related to universal education, legal regulations and the borrower's financial ability.

From the perspective of universal education, the age of 18 marks an important turning point in a student's life. High school students prepare to enter university or post-secondary training. At this time, students often do not have a stable source of income from official work. From this perspective, online loan support for people 18 years of age and older hinders debt collection. In the stage of building an educational and career foundation.

Legal regulations also play an important role in determining the lending age at banks. According to current regulations, most banks allow unsecured loans 18 years and older, including both men and women. However, some financial lenders may impose a minimum age of 20 years to ensure the ability of customers to repay.

In case you want to borrow money when you are not of legal age. You can ask a relative to borrow for you or prove your financial ability to repay both principal and interest.