Loans without income: differences with loans without payroll

Loans without demonstrable income are a type of financing that allows you to receive a capital to support expenses without exhibiting particular guarantees and in particular having an income, or a paycheck. But it should not be assumed that this type of non-finalized personal loan is identical to the loan without a pay slip: there are substantial differences.

The loan without demonstrable income envisages the disbursement of a cash capital also to subjects without any type of income or demonstrable income; loans without pay instead means the provision of a sum of money to subjects who have a salary, a fixed income, but who do not have the possibility of having a document certifying this small salary. The term without pay slip means in fact that the subject has a salary but it is not possible to attest to it: to obtain this type of loan it is sufficient to have also a small amount of constant money that is credited to the current account as compensation for a part-time job, another job, a lease.

The loan WITHOUT ENVELOPE PAYS: REQUIREMENTS NECESSARY

 

To obtain a personal loan without envelope it is necessary to show a particular documentation and guarantee that are not necessary for the loan request without demonstrable income which, as the word itself says, the party requesting the loan does not have:

  • more or less regular payments into the current account;
  • a co-holder of the current account with a permanent work contract or pay slip;
  • a real estate on which to subscribe a mortgage;
  • a rent that constitutes a fixed income for the borrower;
  • guarantor or guarantor.
LOAN WITHOUT ENVELOPE PAYS DOCUMENTATION REQUIREMENTS

FIXED ENTRY ON THE CURRENT ACCOUNT;

REMUNERATION EVEN IF NOT CERTIFIED.

  • BANKING OR POSTAL CURRENT ACCOUNT;
  • OWNERSHIP OF A PROPERTY TO BE SUBJECT TO MORTGAGE.
  • PAYMENTS ON THE CURRENT ACCOUNT;
  • COINTESTATORY WITH REGULAR PAYS ENVELOPE;
  • MONEY ENTRY WITH A RENTAL FEE;
  • GUARANTOR.

The loan without demonstrable income: WHAT IS AND HOW IT WORKS

The loan without demonstrable income: WHAT IS AND HOW IT WORKS

The loan without demonstrable income is a real loan without a demonstrable remuneration – precisely – which requires the request of a third guarantor or a mortgage on a property with the solution of mutual liquidity. This type of non-finalized personal loan does not require showing documentation indicating the destination of the sum to be used: the payable capital is minimum but in any case obtainable.

The only disadvantage of the personal loan without demonstrable income is the high interest rate: the banking institution, bearing in mind the lower guarantees on remuneration, must protect itself from a greater risk of insolvency compared to a subject with a pay slip or with contracts Temporary. Generally the interest rate of a personal loan without income is around 14% but this is a variable and purely indicative value that differs in the amount of the installment and in the duration of the amortization plan but also of the individual credit institutions.

LOAN WITH NO DEMANDABLE INCOME FEATURES INTEREST RATE
WITHOUT DEMONSTRUCTING REMOVAL
  • NO REQUIREMENTS OR WARRANTIES;
  • BANKING OR POSTAL CURRENT ACCOUNT FOR REVENUE VERIFICATION.
UP TO 14% ON THE DELIVERED AMOUNT

The loan without demonstrable income: DOCUMENTATION

The loan without demonstrable income: DOCUMENTATION

To obtain a loan without demonstrable income, the following documentation must be shown at the bank to which you intend to apply for funding:

  • Identity document valid;
  • fiscal Code;
  • a current account from which it is possible to detect revenues and bank movements;
  • ownership of the property on which to subscribe the mortgage.
LOAN WITH NO DEMANDABLE INCOME DOCUMENTATION REQUIREMENTS

SUBJECT WITHOUT INCOME

  • IDENTITY DOCUMENT IN PROGRESS OF VALIDITY;
  • FISCAL CODE;
  • POSTAL OR BANK CURRENT ACCOUNT;
  • PROPERTY ON WHICH MAKE A MORTGAGE.
  • PAYMENTS ON THE CURRENT ACCOUNT (WHERE IT IS POSSIBLE);
  • GUARANTOR.

Loans without demonstrable income: LOANS TO ENCOURAGE EMPLOYMENT

A type of loan without demonstrable income is also the loan of honor which allows you to have a sum of money without having particular requirements or guarantees precisely because it is linked to the opening or starting of a business: if you want to create your own independent work is clear that you do not have the economic possibilities or a salary.

In the same way we can classify loans without demonstrable income the loans for female entrepreneurship that are born with the aim of allowing a more disadvantaged category within the work to create their own business: those who want to get a job are natural that they do not have a pay slip or an income. In the same way, but for different reasons, loans can be cataloged for students with whom it is possible to obtain a capital with subsidized interest rates to sustain their education: enrollment in a master’s degree or a post-graduate higher education course .

The informative video: THE ROTARY FUND OF VERONA FOR THE LOAN OF HONOR

To better understand, also view the following video explaining the reasons for the request and the objective of the loan of honor, taking as an example the case of the Revolving Fund of the province of Verona that thanks to the Unicredit bank allows you to receive a contribution of 2,000 USD repayable with a 36-month amortization plan to deal with evictions or increasingly difficult economic conditions of an increasing number of people:

The loan without demonstrable income: THE LOANS ON LINE

The loan without demonstrable income: THE LOANS ON LINE

Another type of loan without demonstrable income is possible to request it in the online form: on the financial market there are various solutions that can be consulted on many online financing sites that provide the same interest rate conditions but allow a higher comparison with other financial institutions, renowned or not.

You always remain in the small loan category that can also be disbursed through revolving cards or in the rechargeable loan solution that allow you to have a sum of money that is always available and for which it is not necessary to know the sum of we will need it. This type of loan is advantageous in that it is possible to repay only the portion that is actually used and the interest on this amount without having to repay the entire capital granted.

The loan without demonstrable income: HUMANITARIAN LOANS

The loan without demonstrable income: HUMANITARIAN LOANS

A particular form of loan without income is microcredit for which the demonstration of a salary is less for humanitarian reasons and in which the disbursement of capital is justified by real primary social motivations towards non-bankable subjects, ie subjects that cannot access to traditional credit solutions.

To better understand, also view the following video, edited by Dr. Marco di Giacomo, Senior Relationship Manager of Etica Sgr, which explains the fundamental characteristics of microcredit with which a fund is created for the economic aid of this type. An example is the Popular Ethics bank:

The loan without demonstrable income: THE REASONS FOR FINANCING

The loan without demonstrable income: THE REASONS FOR FINANCING

With the progress of the economic crisis and the diversification of permanent employment contracts that increasingly give way to atypical, collaborative or fixed-term contracts, banks have also had to adapt to this type of need: the provision of a capital with guarantees against insolvency that cannot be considered standard.

The disadvantage for those who need to request this type of financing is always the same: the high interest rate that leads the beneficiary to repay large sums of interest only to have even minimal capital. The banks in fact provide for a French amortization plan with installment amounts that from the principle provide for a share equal to 90% of interest and only 10% of capital (THIS IS ONLY AN INDICATIVE EXAMPLE) decreasing the share of interest as and when that we are headed towards the natural extinction of the loan. Only in this way, in fact, the lender of the loan has greater guarantees in the repayment of the financed capital.

FOR SUMMARY: the loan without demonstrable income

FOR SUMMARY: the loan without demonstrable income

Below is an atabella in which the main characteristics of the personal loan without demonstrable income and the types that can be classified in this category are summarized, highlighting the difference between this type of financing that DOES NOT FORESEE really a form of certified income and loans without pay slip that still requires an entry to be examined during the contract stipulation:

LOAN WITH NO DEMANDABLE INCOME REQUIREMENTS TYPES
ENTRY OF MONEY BUT WITHOUT CERTIFICATION
  • LOAN OF HONOR;
  • LOAN FOR FEMALE ENTREPRENEURS;
  • LOANS FOR STUDENTS;
  • REVOLVING CARDS;
  • LOANS ON LINE;
  • MICROCREDIT;