There can be a variety of life situations in which a consumer relies on a readily available loan amount. In the banking industry, this type of loan is referred to as a so-called “urgent loan”, which is particularly noticeable in that there is only an extremely short period of time between the application for a loan and its disbursement.
Urgent loans are usually offered less frequently by traditional branch banks, but increasingly by direct banks and online credit intermediaries. A special variant of the express or instant loan is the “Express Credit without Information”. With such an offer, the prospect does not even have to submit proof of income in order to receive a loan payment. The following article deals with the topic “Express Credit without Information” and compares the credit offer of four reputable credit intermediaries.
Challenge “Express Loans without proof of income”
With regard to the general requirements for lending, which are common in the German banking industry, it quickly becomes clear that an emergency loan without proof of income is a real challenge. Alone, the almost direct payment required by the customer causes many financial institutions to “worry”. Almost always, the submission of credentials and proof of income is a mandatory criterion for lending, which, however, for example, by mail, ensures that a certain amount of time passes. For this, most banks need an internal processing time, which is an average of three working days. The requirements of an emergency loan, of course, do not do justice to such framework conditions, which is why you as a borrower must be aware that you can not contact each bank with the desire for an urgent loan. The fact that the required loan is to be paid out entirely without filing proof of income ensures that a maximum of one “handful” of banks can be chosen as a possible loan partner.
Is an express loan without proof of income reputable?
Of course, as it is impossible for traditional retail outlets to obtain a loan commitment without the prior submission of income documents, many credit seekers are wondering if an on-loan loan without proof of income can be reputable at all? Express loans are mainly offered on the internet and by online credit intermediaries, where, of course, very serious and experienced lenders also have “black sheep”. Such companies offer, for example, the allocation of a direct or instant loan (usually SCHUFA-free and without proof of income), require for the requested loan is requested, but the payment of pre-cost. Such approaches are extremely dubious as the creditor pays the required fee in most cases and then directly receives a rejection of the loan he wants. In principle, however, it must be said that an express loan, which is submitted without the submission of income documents, must have nothing to do with dubious business practices. Finally, it is up to each bank to determine which criteria the borrower must meet for lending. If a bank says in this context that loans can be given up to a loan amount of, for example, 2,500.00 euros as a rush credit without proof of income, then speaks in purely legal terms nothing against it. Of course, it should not be forgotten at this point that there are always clear limits with regard to the maximum loan amount for a rush credit. However, should a bank offer a loan amount of € 10,000.00 or higher, without a proof of income by emergency credit – so should ring with any prospective creditors all the alarm bells! Such an offer can under no circumstances be serious, as a hundred percent unsecured lending on such a scale would bring a disproportionate risk to the bank.
Trucredit – Assessment of Express Credit Offer / Proof of Revenue
The credit marketplace ” Trucredit ” brings together potential creditors and private investors or lenders and thus ensures the award of so-called “peer-to-peer loans”. As far as the possibility of an emergency loan is concerned, although there is nothing on the credit intermediary’s home page about Trucredit, there are good opportunities. This is because credit inquiries made by Trucredit in the form of a “project” are approved within two hours in 50 percent of the time, according to the credit intermediary. This makes for a very short processing time, which can be optimal in two working days (Source: FAQ for borrowers – Trucredit.de). With regard to the possible selection of loan amounts, loans with a value of between € 1,000 and € 25,000 can generally be requested via Trucredit. It is of course clear in this context that under the pretext of an emergency loan, it is above all credit requests with small amounts of credit, for example 800.00 or 2,000.00 euros, which quickly meet the approval of private investors. As far as the filing of income documents is concerned, while Trucredit does not necessarily have to have a classic, fixed salary, a certain repayment capacity must be apparent to private investors. If you can not bring in proof of income, Trucredit will only get ahead if a solvent guarantor or a second borrower is involved.
Creditend – Assessment of the Express Credit Offer / Proofs of Income
The well-known through numerous TV advertising credit brokers Creditend offers on its website a so-called “quick loan”, which meets all the requirements of a typical emergency loan. The Creditend-Schnellkredit should be in the best case after 24 hours on the account of the borrower, so in connection with this loan offer can be really of a rapid processing. As for the loan amounts, so the quick loan can be applied for an amount of 1,000.00 €, while there is an enormously high maximum limit of 120,000.00 € (at this sum and already from sums above the 10,000 euro limit however, doubt whether the processing of the exam, grant, or even payout can really take place within a single day).
As a credit intermediary Creditend works together with numerous national and international banks, which ensures that due to the large offer attractive conditions, for example, 2.49% offered (as of 03.03.2016 – credit-conditional condition of Bank of Scotland). As far as the issue of “proof of income” is concerned, there is no indication on the Creditend side that offers are currently being made where the borrower does not have to submit any income documents. This is mainly due to the fact that Creditend works mainly with traditional branch and direct banks, which of course always demand a proof of income. It is important at this point, however, that there are also loans from private individuals at Creditend, which could possibly lead to exceptions for small loan amounts. When it comes to a cheap loan with extremely fast processing, so Creditend is definitely a recommended source.
Cre Loan – Assessment of Express Credit Offer / Proof of Revenue
According to its website, the credit intermediary Crediter offers an instant loan offer up to a loan amount of 100,000.00 euros. In this case, Crediter guarantees an immediate processing of all credit inquiries, which in the best case should lead to a processing time of four to five working days (including return of the credit agreement and transfer time). Although Crediter works with both national and international credit institutions, income proof is still a high priority. While the provider obviously advertises that he offers the brokering of schufafreien loans, it is not possible to take out an urgent loan without proof of income according to the current credit-credit provisions (source: “All information / requirements” – Bonkredit.de). Cre Loan is a very good address for attractive conditions and high loan amounts, but a credit without proof of income is sought in vain with this credit broker
Maxcredit – Assessment of the E-Credit Offer / Income Proofs
The credit broker Maxcredit advertises on its website with an “online express loan”, which is characterized by a particularly short processing time. According to the information provided by the Maxcredit FAQs, a cash payment / check will only take a period of three days. Of course, it is always important at this point that all documents for the credit check are available and a short transfer time is created on the bank side.
Conditionally Maxcredit is quite attractive, so that emergency loans can be taken from an effective annual interest rate of 3.99%. Basically, the credit intermediary Maxcredit calls for submission of income documents in all loan requests. Exceptions can only be made in the case of a request with an existing guarantor / co-applicant, which always depends on the loan amount as well as a case-by-case decision.
Conclusion: Even though a bankruptcy loan is anything but easy to do for the bank, there are numerous credit intermediaries and online banks, some of which ensure extremely fast loan repayments. With a very short-term need of money, the urgent, quick and instant loan offers are really recommended. However, without the submission of proof of income, serious credit offers are the absolute rarity. There are opportunities in this area only for very small loan amounts or if the desired credit is provided by private investors who are satisfied only with other collateral such as a guarantor or other co-applicants.