Some companies even promise a complete “no income” loan immediately – within 15 minutes. What about the offer of these loans in fact?
Fast non-income lending (ie, no proof of income) is mainly targeted at smaller non-banking companies. It is clear to them that if someone needs money, they need it immediately and they do not want to abstain from formalities such as finding a stamped confirmation from their employer. Nowadays it is possible to handle it in other ways.
Loans without proof of income are loans for which a “paper” proof of income from the employer is not required. Instead of this document, the current account statement is documented, where the payer goes to the applicant. Non-bank companies provide online “loan without papers”, but also some banks (eg Česká spořitelna).
What can we expect from these quick loans?
1. Online application and quick assessment
These “loans without papers” are requested online via the online form, where the client chooses the required amount and maturity. After carefully entering your personal data and the amount of your monthly income, he will attach the necessary documents to the application, send the online application, and (within a few minutes) learn whether or not the application has been approved. If so, the money is sent to the applicant’s account immediately. How quickly the applicant will have the money really depends on the speed of the bank transfer between the creditor’s account and the client’s account.
2. Remote handling
Most of the non-bank companies need information filled in the online form to assess the application, instead of a paper confirmation from the employer, they only need an extract from the internet banking from an account where the applicant is paid (or a pension or maternity). Usually, you need to document a scanned or photographed ID card – but everything can be handled remotely online via the Internet. Possible uncertainties will be resolved by telephone with the loan operator.
3. Money within 15 minutes
It is not a problem to receive the necessary amount on your account within minutes. It should be noted, however, that this is usually the case if the applicant is already registered with the company and has paid at least one loan with the company in due time. Many companies then get another loan only by sending an SMS message (we are talking about so-called SMS loans immediately).
4. Enrollment in registers may not be a problem
Loans that do not require proof of income are usually provided in the amount of CZK 500 – 50,000. We can say that the lower the amount, the easier it is to get money. Some companies are also tolerant to debtors’ registers, so “sinners” with less serious registrations in the registers also have a chance to handle the application positively.
5. The first free loan
Some non-bank companies are so friendly to their clients that they are willing to lend to first-time applicants not only with a minimum of formalities, but also completely free of charge and free of charge. You can learn more about this topic in the loan-free article.