Since income is an integral part of lending, proof of income must be provided when making a loan request. If an applicant cannot provide this evidence, no credit approval will be granted.
Before the loan is granted, each bank carries out a household bill which is made on the condition that the borrower can prove a seizeable income. Translated, this means that only a loan seeker who can present a pay slip, or alternatively a pension notification, can count on a loan. But what are the options for a loan without salary information?
The possibilities of borrowing
If other types of income confirm the solvency of the loan seeker, a loan without proof of salary may also be possible. Other types of income are, for example, an old-age pension but also occupations of a disability pension that is paid monthly are often recognized.
In many cases, a current tax assessment and positive balance sheet information can favor a loan without salary information. The latter is often recognized by self-employed loan seekers. Usually it can be said that there is no loan without salary information. The loan without salary information is therefore associated with hurdles that a credit broker can avoid. There are several banks at his disposal that he can contact and are looking for a way that a loan brokerage will still occur.
A Swiss loan could be the solution, for which the bank statements are relevant as an alternative to the salary information. Here, however, attention should be paid to the credit intermediary. The seriousness of the agent can be seen, for example, in the fact that he does not charge a pre-commission before the deal is closed. Advice on the amount of a loan without salary information should also be free of charge.
A loan without proof of salary can also be secured with other collateral. Collateral such as a home or a life insurance policy can increase the chances of getting a loan. Self-employed persons could also benefit from these credit protection measures if they can provide these guarantees.
A co-applicant can also benefit from a loan without salary information. However, he should then know that he will be recourse if the borrower can no longer pay. As with all other forms of credit, the borrower should have a bad credit rating and should refrain from a loan, even if these loans are approved without salary information.