The requirements of banks to their potential customers do not always include the provision of documents on solvency. Many companies are ready to apply for loans with just a passport. To obtain a solution, it is enough to check the credit history and make sure that the borrower has a stable source of income. This article will tell you which banks provide loans without reference in 2018, what will be required to obtain contracts and what options can be profitable.
Advantages and disadvantages of lending without reference
The main advantages of this lending are that it is processed according to an accelerated program. As a rule, it is possible to form an application for a loan online, and when signing documents you will need to provide only a passport.
The decision is also made as soon as possible, mostly without the human factor, but automatically at the expense of banking software. But the lack of proof of income does not mean that the bank can approve financing without checking the data. The decision is made on the basis of credit history, and the time for acceptance can be spent no more than 1 hour.
Such express lending saves the client time, but as you know, you have to pay for everything. Contracts that are executed on one document, without checking solvency, carry additional risks. Accordingly, in order to minimize losses, financial companies increase loan rates.
This situation can be attributed to the shortcomings
In addition to an excessive overpayment, by taking loans without income documents, the borrower cannot claim the extremely affordable financing limits, limited to only small offers.
I would also like to note that lending agreements for which the potential borrower did not prepare the necessary set of documents, as a rule, are spontaneous and are executed in a hurry.
Than managers of sales of consumer crediting can use, having included in additional services insurance and other conditions in which there can be no need. All this leads to higher credit costs and affects the financial position of the borrower.
Banks that give loans without reference
For registration of the contract, it is enough to be an adult, have a residence permit in the country, be a citizen and be employed. And banks will already estimate solvency on the basis of a credit history and judging by the company in which there is an employment contract.
Company regulations may change periodically, and other organizations may be added to this list over time. Also, our list of banks that give loans without income certificates does not include small local companies. Consider banking organizations and those products that they offer separately.