Bank loan without paycheck and guarantor: is it really possible?
The offer of loans that Best Bank offers to its customers or those in search of liquidity is all in all endowed with various choices: from the more flexible options to the “mini” loan, from debt consolidation to the assignment of a fifth of the salary. If we remove the latter type (addressed only to public and private employees), for all other loans the Best Bank offer is also without a paycheck. What does it mean? Simply that they can also be requested by self-employed workers.
In this perspective, the possibility of applying for a loan without paycheck or without guarantor must be kept clearly separated if you have a demonstrable income of any other type (provided that it is certified regularly) or if you have no demonstrable income. In the latter case, the only way forward is in fact that of a guarantor with a very solid credit reputation and good demonstrable income.
What types of loans are offered?
As highlighted at the beginning, self-employed workers, therefore without a paycheck, and employees can apply for various types of financing with Best Bank, but in particular those that fall into the category of personal loans stand out. In particular, you can choose:
- the range of flexible loans, that is, with options that make management and repayment methods easier, being able to adapt their characteristics to repayment capacities over time (max. $ 30 thousand);
- the mini credit, of an amount up to a maximum of 1,500 USD, which is used to have a bearing with which to cope with small emergencies, with the characteristic of the revolving credit (therefore with the restoration of the credit line as the sum is repaid );
- debt consolidation loan, designed for those who have too many monthly installments to repay and who want to consolidate them in one installment with a single monthly deadline, and perhaps require new liquidity.
Flexible personal loans
Within this section we find various types of loans characterized by the type of associated flexibility option. That said, as regards the maximum duration (up to 84 installments) and the maximum amount (as already mentioned of 30 thousand USD except in the case of the “Round installment” typology) there are no differences. In particular, at 7 March 2019 it is possible to choose between:
- Excellent: this is the loan that allows you to combine the duration and the installment, according to the amount to be requested, more suitable for personal repayment capabilities. This type of loan is the most classic type of Best Bank;
- Total Flex: this loan has two series of flexibility options which are the skip installment (for a maximum of 5 times for the entire duration of the loan and in any case no more than once a year, with the skipped installment being postponed and added at the end of the amortization plan initially signed), and the reduction of the installment. This is obtained by lengthening the duration of the amortization plan (the amount of the reduced installment and the consequent increase in the duration is already calculated and indicated in the loan agreement). If it is possible to make early repayment, it remains free, also by making use of the flexibility options;
- Jump: provides only the skip installment function, which however remains usable for a maximum of 5 times and only once a year;
- Round figure: the duration and the amount are combined with the sustainable installment, the amount of which to choose from will in any case be a round figure easy to remember. But be careful: for this type the maximum amount granted is 20 thousand USD.
By accessing the relevant page of the official Best Bank website, you can proceed with a simulation that only requires you to enter the desired amount and your ‘ideal’ installment.
If the proposal is considered satisfactory, you can click on continue. You will then be transferred to the page in charge of entering your personal info, the starting point for the actual quote and a possible request for funding.
Debt Consolidation Solution
The Cream Bank can also offer the suitable solution for those looking for loans without a paycheck, but already have various installments to be repaid in progress. We logically talk about Best Bank debt consolidation, which recently changed its name to Capital Lender. The maximum amount granted remains at $ 30 thousand and allows you to pay off one or more loans with the addition of optional liquidity.
Spin Lender is designed to offer an always accessible reserve of liquidity, paying interest only on the sums used. Only when you use the credit of 1500 USD in whole or in part, do you start to pay the installments, which can be 50 or 100 USD (the amount of the installment depends on the amount used and the duration of the repayment plan). These include a capital portion (which gradually restores the ceiling) and interest (to a fixed extent). The request must be made at the branch being able to fix the appointment also directly from the official website. As economic conditions and related costs are to be considered:
- 20 USD of annual management fee;
- interest rates: Tan 16% and Taeg 23.30%.
Necessary requirements and documents
As said, this selection of loans can also be requested by those without a paycheck. Having said that, we remind you that you must still have demonstrable income or provide a guarantor. The minimum requirements are:
- be subjects resident in Italy. If foreigners, residence for at least 1 year and an unexpired residence permit are sufficient;
- be aged between 18 and 75 (which are considered at the end of the repayment);
- request an amount not exceeding the maximum allowable.
As regards the documents requested, these are generally represented by:
- unexpired identity document;
- tax code or health card;
- income certificate (last paycheck for employees and single model for self-employed workers. Pensioners must carry the latest pension slip, and as employees must carry the last Cud).
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