Would you like to apply for a loan without bank statements? The loan process should enable uncomplicated credit quickly? We present you with loan offers that could fit your loan request. Find out why credit institutions are increasingly reporting bank statements and how to avoid loan denials.
Credit without bank statements – credit with a good credit rating
Most credit institutions offer the loan without bank statements. But, it is not all providers who want to forego the account statements. Credit from the house bank, for example, is always based on knowledge of the current account’s cash flows. With credit offers from the online loan comparison, the chances of not having to submit bank statements are very good.
Whether the bank statements are required or not depends on the application conditions of the credit institutions. Interesting for people who are in doubt as to whether the bank does not want to check the checking account afterwards are the customer opinions. Subsequent submission of vouchers may be required if low-interest loan offers are requested. Mini interest often includes the specification of an exceptionally good score.
In borderline cases, the credit institution requests additional documents in the course of the credit assessment. Customer ratings show whether not only a loan without bank statements is offered, but usually approved. – Because no borrower is pleased when his credit decision is delayed because documents have to be submitted later.
Why do banks ask for statements?
Account statements read to the credit auditor like a household diary. It is often easy to see whether a household is doing well or just making ends meet. In the case of a credit without bank statements, the clerk is locked away from some early identifiable credit risks. It would be typical of poor housekeeping that the current account is flooded with expenses immediately after receiving the salary.
The tide quickly subsides because the account is approaching the limit. The game starts again in the following month. The accumulation of expenses immediately after receipt of salary is the result of an investment backlog. The investment backlog builds up because inadequate liquidity means that inevitable purchases are postponed to the following month.
In other words, the bank statement says – “We are currently broke, wait until payday”. The repetition of the process reveals that a new investment backlog builds up every month. The clerk will examine in more detail whether a loan installment still fits into the budget statement under these circumstances. However, this usage behavior is not a reason to reject a loan in general, but an indication of a hidden credit risk.
What should the bank statement not show?
There are good reasons to look for a loan without bank statements for your own credit request. Hidden in the account statements there are clear indications if a credit risk would be intolerable, despite a clean schedule and a decent income from work. Regular credit institutions are only allowed to accept credit risks to a very small extent. Missing interest income is currently putting additional pressure on banks to only grant secure installment loans.
Such a sign would be, for example, a chargeback due to insufficient funds. The chargeback proves that the applicant is at least temporarily insolvent. Regular credit without a guarantor or additional collateral is only granted to people who are fundamentally solvent at the payment date as agreed. No loan provider wants to run after their money.
As a precautionary measure after a loan without bank statements, prospective customers who make payments to collection agencies should also make payments. Debt collection is always the last step before the judicial dunning procedure threatens. It is only a small step from payment in installments to a collection agency to a negative Schufa entry. Speak until the complete loss of creditworthiness.
Discover loan offers without checking the statements
With a good credit rating, each credit comparison shows suitable loan offers that only rate the installment loan based on score and income. Finding a loan becomes more difficult if the score does not prove that it is “excellent”. Credit institutions have to check more closely if the score is weak. This leaves two basic options. Either the bank statements are “styled” or a change of provider is necessary.
“Spice up” the bank statements to match the exam is not an insurmountable hurdle. Only a maximum of three months is checked retrospectively. People who can safely afford their credit can manage three months at a time without surviving a chargeback. Any payments to collections may be limited to cash transfers during this time.
The bank statements are already “clean” for a possible review as part of the credit check of the installment loan. It would also be conceivable to apply for a regular loan without bank statements with guarantors. In this case, the credit check is again limited to just a few documents. The bank statements can remain in the drawer because the solvent guarantor or co-applicant secures the loan.
Personal loan – without bank statements
Serious private credit, such as that provided by Good Finance, fulfills credit requests that would be difficult to implement in banks. Private lenders invest more risk-taking because they spread their investment – and thus their credit risk – over different loan projects. Risky lending is also rewarded with reasonable interest. The bottom line is that the risk of losing money remains manageable.
Serious private credit through the two major established credit portals is always a credit without bank statements. Private investors use other ways to get an impression of the risk of the investment. If the creditworthiness is very poor, they look for an additional certificate, which demonstrates the credit protection of a real asset, instead of private receipts.