Lending institutions offer borrowers a variety of loans. Among these many offers, there is the loan without proof, which gives the borrower the right to a defined capital without having to justify how he will use the sum.
What are the main types of loan without proof?
Among the credits without supporting documents available on the market, the personal loan is undoubtedly that which is the most used of the borrowers. Unlike a loan intended to finance a particular purchase such as a car loan, the personal loan does not require any proof of the amount or the nature of the use you will make of the borrowed capital.
For some borrowers, the loan without proof is very attractive due to the fact that they do not have to justify their need for cash. But there is also revolving credit, which does not require proof of the borrower’s cash.
What are the characteristics of the loan without proof?
In the case of a personal loan without proof, the borrower borrows a sum capped at 21,500 USD. Its repayment can be spread over seven years, but this varies a lot according to the different lending institutions. As for revolving credit, its amount depends very much on the banking institution which issues the credit.
It is to be repaid over a year, but the borrower benefits from a credit renewal. Of course, your creditworthiness will be an important criterion for the bank when they study your request for credit renewal.
What are the conditions for obtaining a credit without proof?
Of course, the loan without proof is interesting for reasons of discretion, but not all borrowers can access it. Indeed, it is essential that you have stable incomes as well as important bank guarantees to be able to benefit from it.
It should be known that the risk of default is too great, which makes banks very selective about the files processed. Indeed, the bank will not be able to seize any property in the event of default on the debt, because it does not know which property is purchased under the credit.
Is it possible to take out a credit without proof of being bank prohibited?
By law, nothing says that a person in a prohibited banking situation cannot take out credit. Indeed, it is quite possible that a person is in banking prohibition, but that he has stable income and that he is completely able to honor his debts. However, you should know that banks are very reluctant to lend money to a banking ban, especially if it is a highly risky credit like lending without proof.
If you are on a banking ban, it is therefore strongly recommended to regularize your situation before applying for a credit, whether it is a conventional loan or a loan without supporting documents.
Is it possible to have online credit without proof?
It is quite possible to take out a loan without proof online, as with any loan on the market, notably consumer loans. Initially, it will be necessary to fill in a certain number of online forms in order to carry out a simulation. Then you will have to send certain documents to the bank, either by post or by e-mail.
Generally, the procedures remain the same, but they may vary slightly from bank to bank. The best solution is therefore to contact a manager at each bank to have the necessary information.