Are you looking for a loan but fear for your credit opportunities when the bank statements are submitted? No problem, credit without bank statements is possible with many loan providers. The article explains more about the credit options, when it really makes sense to keep the bank statements to yourself.
Credit without bank statements – find loan offers
A loan without bank statements is offered nationwide. Most credit institutions only require proof of permanent, non-terminated employment outside of the trial period. In addition, the Credit Bureau must be free of negative entries. Account statements are only required for inspection by a few credit providers.
They want to get a first impression of the financial situation of the borrower before making their loan decision. There are two different ways to find out which loan offers they are. On the one hand, the “small print” could be studied. Anyone who does not have to deal with loan offers on a daily basis would have to struggle through the various web pages. It is faster and more convenient to submit an online loan application.
Filling out the application takes only a few minutes and does not require anything. The application cannot be legally binding “only online”. There is also no fear of negative consequences in the context of a credit request entered in Credit Bureau. In the preliminary loan approval, all the documents required for the application are listed in detail. So everyone can be sure that they really choose a loan offer that does not include bank statements.
When is it important not to allow checking the current account?
Not everyone looking for a loan without bank statements would have worse credit opportunities if they submit the bank statements. For example, if you are looking for a loan to reschedule the expensive overdraft facility, you are guaranteed to be in the red. The reason decision to use a cheap installment loan is not reprehensible. With a small loan amount, up to 10 percent interest advantage can easily be realized through debt rescheduling. An example of this:
A normal overdraft facility can devour between 11 percent and 13 percent interest. For example, if the account is 3,000 euros in the red, an installment loan between 12 and 36 months is worthwhile. The Cream Bank offers the right installment loan at the effective annual interest rate of 2.89 percent, which is independent of creditworthiness.
Red numbers alone have no influence on the chances of approval. The bank statements better not to show that is recommended for chargebacks due to insufficient funds. They are evidence of temporary insolvency and are not welcome by any potential lender. Payments to debt collection companies could also lead to the loan refusal. Again, the ability to repay has to be classified as uncertain.
Without bank statements for credit – difficult creditworthiness
In a difficult creditworthiness situation, the presentation of the account statements is requested more and more. The checking account is a reflection of the living situation. Viewing the statements can be an opportunity to be able to use a “normal” loan offer. The loan could provide a way out through an intermediary. But then the credit request is usually paid with expensive interest premiums.
The favorable interest rates, as shown by the loan comparison, could remain usable by a solvent co-applicant. With his creditworthiness he fills the creditworthiness gap. The chance of a loan without a bank statement and cheap interest remains.