Loans without income certificates are very popular among customers. This fact is influenced, among others, by the lack of major problems with the acceptance of the application for most people, which also translates into a high level of loan granting. Loans of this type are granted on very favorable terms – many lending companies tempt their clients with a free first loan and a flexible repayment term that can be extended by refinancing the loan.
Loans without income certificates
The income certificate that is required for classic loans and credits from banks is a confirmation of the person’s source of income as well as the remuneration received. Income in this context is all the funds obtained in a given period, which come, inter alia, from an employment contract. To receive a loan from a bank, you must provide a document required by the institution’s internal regulations, which is an official confirmation of your income. In some cases, these may be certificates from the employer or from the institutions from which the person receives cash benefits, as appropriate. Such documents are usually obtained at the request of the applicant. Some banks require you to provide account statements that inform you of transfers resulting from receiving a salary – you can get them either at your bank branch or by printing statements directly from your bank account (e.g. by logging in online to your service panel).
Non-bank institutions that mostly deal in providing short- and long-term loans do not require a potential client to submit income statements. In practice, this means that the loan is granted only on the basis of an identity card and, possibly, a declaration of income and financial expenses and liabilities (e.g. alimony, other loans) of the applicant. This solution is a great convenience for the customer, because it not only reduces the amount of necessary formalities and documentation, but also allows you to obtain a financial benefit for people who do not earn a regular income or work on a commission contract or a specific task contract.
Who is the loan for without a certificate?
Loan offers without income declarations are addressed to all persons who need financial support. In particular, the terms of such a loan are favorable, inter alia, to persons:
- unemployed persons (e.g. currently living on social benefits),
- working in the so-called the gray area (colloquially terming “black”).
- for people employed on the so-called civil law contracts (contract for specific work, contract for the transfer of copyrights, commission contract),
- persons living from sources other than work – we are talking above all about older people living on a pension or a student who is on a scholarship at the university or alimony from a parent.
Ways to verify the customer on loans without income certificates
Customer verification for loans without certificates is a permanent part of the application. This is primarily to ensure security (of both the client and the company offering financial products) – primarily protects against submitting the application by impersonating another person and using, for example, stolen identity card.
In addition to the applicant’s submission of the data necessary to conclude a loan agreement (including the serial number of the ID or PESEL number), in some cases the company may ask for a scan or photo of the ID. Then, companies use several ways to verify the customer:
- bank transfer – should be made from the applicant’s personal account; usually a transfer of $ 0.1 or $ 1 is required – the amount is returned with the loan;
- telephone conversation – a consultant in a telephone conversation checks the correctness of the data provided by the client and, if necessary, asks for other information important for the processing of the application;
- instantor – a fully automated service used by many parabanks and companies providing financial services – special encryption technologies ensure data security and allow verification of the applicant. More about this here
What is worth remembering when deciding on a loan without income?
Non-bank loans without certificates are widely recognized as completely safe and beneficial for the client. This is also the case in reality. As a customer, however, it is worth remembering several important issues that allow you to increase security and satisfaction with financial services. First of all, it is worth using proven companies and parabanks that enjoy a good reputation and trust among other customers. You should also remember to take into account your financial capabilities when applying for a specific loan limit and about the timely repayment of the funds obtained – this will avoid falling into a vortex of debt.
Loans without earnings certificates – which companies offer them?
Many consumers often do not want to waste time preparing additional documents confirming their current employment status. When applying for an urgent loan, for many, providing information on the name, position and amount of earnings is unnecessary, so they want to avoid it.