If you want to take out a loan, practically all offers from reputable lenders will be in the single-digit range. The exception to this are the fully flexible, overdraft facilities that can be taken up and repaid daily.
These require a comparatively high, interest-free deposit at the banks and therefore have a similar surcharge as a fully flexible flight in the business class. For all other “normal” loans, however, the interest premium only allows a very small gross profit margin! That is why the banks pay close attention to the creditworthiness of the customer and to the fact that he could also repay the loan. If you want to apply for an online loan without a pay slip, you should do the following:
Notice of pension or insurance payment as proof of income
Payroll is mentioned in many articles and short reports as a prerequisite for the credit only because it is used as the most common way of proving monthly income. With online credit without payroll, you can replace this document with other information about the monthly income: For example, attach a pension notification or the confirmation of the monthly payment from a disability insurance.
Then the lender would know what income and how much is available each month. The reason for this is that when it comes to the probability of repayment, the existence of a monthly income is seen as a very good indication of solvency.
Business evaluations or tax assessment
Another variant of the proof of a monthly income is, for example, the business evaluations of the tax consultant or, especially for the self-employed, a current tax assessment is very popular. However, online credit without payroll already reaches certain limits: fast, unrestricted processing is not possible here.
Depending on how much experience the financing partner already has, he will either approve the loan or reject the loan request. However, this does not mean that the borrower’s creditworthiness is too bad for all banks! Only this one financing partner cannot release the loan, perhaps because he does not count the self-employed in the core customer segment.
When online credit without payroll becomes difficult
Whenever there is no monthly income available, which is above the garnishment limit, lending becomes quite problematic! Therefore, with the highest probability, there will be no credit only if basic security is available.
One option would be to provide a guarantee that would stand up for the monthly installments if the worst came to the worst. However, this is not possible due to complicated forms to fill out and an additional credit check of the citizen with online credit.