Loans 18 years | Sir Anthony Absolute

Today, there are many loan options available online, and you are always just a few clicks away from having the money in your account. This means that borrowing money is no longer difficult but has become fast and easy.

The downside to this, however, may be that some may end up taking out a loan without having thought through it first and asked if they are able to repay it at all. This is particularly the case for many young people who are just 18 and who often end up in an unfortunate situation where they cannot pay back.

Therefore, one of Sir Ganier Willk’s terms is that you must be 23 years of age in order to take out a loan with us. You can read more about our terms and conditions.

Many young people end up in the trap

When you are young and a student, there is not always a lot of room for party and colors, as the budget can often be tight. Therefore, for many, it is all about balancing rent, food, insurance, travel, partying and gifts, etc. As it can be quite a challenge to afford it all, you may end up having to choose something socially. It can therefore be tempting to take out a loan to afford it all.

Many young people are probably often told that they have no sense of money. At Sir Ganier Willk we do not necessarily agree that young people do not understand money. However, we are aware that many young people may be confused about loan terms for which they have not been presented so far.

Therefore, we find it necessary that everyone, including young people, understands what the terms mean and what you agree to when signing a loan agreement. In this context, we give a brief explanation of some of the concepts.

Interest and fees

Of course, since it is not free to borrow money, interest is naturally imposed on the amount. Interest is thus a fee that is calculated in percentages of the amount borrowed. Interest, in addition to the amount borrowed, must be repaid to the creditor.

In addition to interest, there are often fees to pay. This can be a set-up fee, or a withdrawal fee, depending on the type of loan or credit you receive.


The APR is an abbreviation of Annual Cost Percentage, and is thus the total cost of the total credit amount of one year.

It is a legal requirement that the loan’s OPP is stated so that it is easily accessible to the borrower. Since all the costs associated with the creation of a loan and the term of the loan itself are covered by the CCM, it has made it easier for the consumer to compare the different loans with each other to find the cheapest one.

Budget Planning

If you are considering taking out a loan, it is a good idea to test your ability to pay in advance. Therefore, you should start by preparing a budget so that you get an overview of all revenue and expenditure.

By calculating how much money you have available on a monthly basis, you quickly get an overview of whether there is room for a possible repayment on a loan. For example, if you are considering taking out a loan where you have to pay off with USD 300 a month, you can deduct that amount from the availability and see if it looks realistic.

Save together loan

Save together loan

Instead of taking out a loan, one should instead focus on making a savings. For example, if you want to go on a summer vacation, but do not know how to get far for your SU income, then you should get a study job and take extra guards for a period so that you can afford to put money aside for vacation.

If, on the other hand, you have to rush to the dentist because of a broken tooth, but have not been able to put money aside, then the situation is quite different. Unforeseen bills and lack of savings often end up taking out a loan. This can also be a sensible solution, if you have just taken in the above and know that you are able to repay the loan.