Most banks have a very complex procedure when granting monetary loans. The aforementioned process consists of verifying the solvency of the potential debtor, as well as the indebtedness capacity that it has. If you want quick loans without payroll, it can be complicated, but not impossible.
Making these checks is protocol of the banking entities, since none of them wants to risk lending an amount that may not be paid. But, get quick loans without payroll and properties is possible, because there are other alternatives much simpler.
Get a quick loan without payroll
Payroll is the amount of money you receive periodically for working in a private or public organization. This is one of the first guarantees that banks request to approve their loans. But this fact does not mean that it is impossible to obtain a quick loan without a payroll.
There is a new modality that is completely legal and that, most of the time, is a better alternative than requesting a loan from a traditional bank. There are options such as quick loans without payroll and properties, and even without guarantee or guarantor, for which you only have to provide your identification and meet basic standards.
The loan and the mini loan
You may be able to access loans without payroll or if you are unemployed. In addition, the grantors of these loans allow you to establish a payment plan in which the fees are adjusted to your economic capacity and your possibilities. Thus, the money requested will be an acceptable amount.
Thus, the alternative of requesting mini-loans without payroll, consisting of small sums that usually do not exceed € 300, is born.
Online loans without payroll
The majority of the loans without payroll that you can find in the market, are requested from Internet. You will only need a good connection from a computer or mobile to get them instantly. The experts of each web usually work 24 hours every day to clarify your doubts and tell you the advantages.
To apply for quick loans without a salary, you must be of legal age, have a DNI, an email account in your name, have a bank account where you will receive the money, a mobile line and a source of income. This can be a pension, a benefit, a scholarship, a subsidy or, for example, your earnings as self-employed.
Advantages of fast online loans without payroll
Some of the advantages offered by the granting of these loans are that you do not have to go to the bank at all, they have less bureaucracy when requesting less documentation, the process is fast and you can get interest at competitive rates.
Main requirements to get a quick loan without payroll
As we have told you, not having a payroll does not make it impossible to get a personal loan. But for this, you must have an alternative source of income that allows you to adequately deal with the return of the personal loan you have requested.
The origin of these revenues must be justifiable. That is, the entity must be able to verify that we actually receive that income. For example, through a VAT invoice, a pension itself or a personal income tax declaration.
Also, the income should be sufficient. They should be able to allow you to repay the loan installments, in addition to covering the rest of the financial obligations you have, such as rent payment. Finally, the income must be regular.
As long as alternative income meets these requirements, you will have no problem getting your personal loan.
What profiles are considered valid for hiring a loan without a payroll?
The requirements that we have explained, are usually adjusted to a series of people. First, pensioners or retirees. Most entities accept the loan application in this case, since the profiles have regular and stable income.
But, the amount will depend on the income and the term to return, it can not be too long, since it is usually put a maximum age to apply for a loan.
The self-employed also tend to adjust to the profile. Traditional banks do not usually grant loans because they have greater income instability due to the nature of their work regime. However, if you show that you have sufficient solvency, you will not have any problem to obtain your personal loan without a payroll.
Another profile that adjusts very well to quick loans without payroll is that of the unemployed who have benefits. As we mentioned in previous sections, for these profiles we do not need an endorsement either.
If you meet one of these profiles and want to get a quick loan, you must inform yourself of the requirements that the entity that you are going to apply for, to know if you are indeed eligible to obtain the personal loan without a payroll.
Who are usually the lenders in the case of not having payroll?
Most traditional banks do not grant personal loans if you do not have a guarantee or payroll, even in the case of having alternative income such as a pension, being self-employed or receiving a scholarship, even if you have a high level of income.
Even if you do not charge a fixed wage with payroll, if you have justifiable, regular and sufficient income and meet the other requirements, there are entities that provide loans without payroll.
1. The conventional bank
A traditional bank sometimes makes exceptions. These occur, above all, in the case of project financing, payroll advances, credit cards or pre-granted loans.
As we have said, in general, having a payroll is usually fundamental. However, if your pension is sufficient or as self-employed you usually receive good income regularly, you may get funding from a traditional bank.
2. Private lenders
There are private equity companies that can grant you a personal loan if you do not have a guarantee or payroll. The companies provide mini loans or quick loans that have a higher amount, as well as other loans with mortgage guarantee. In general, they tend to be more flexible than banks.
3. P2P platforms
If you do not have a payroll but need liquidity, you can request a loan from a P2P platform. Although, it is recommended that you first inform yourself about the requirements that will be asked in each of them, so you will not waste your time. Afterwards, the administrators will analyze your request to put a personal interest rate on your loan without a payroll, which will vary according to your risk profile.
4. The financial services of private companies
One last way we want to tell you to get a loan without payroll is through the financial services of private companies. For example, large telecommunications companies or supermarkets. As always, you will be asked for an alternative source of income.
The average price of personal loans without payroll
The estimated price of non-payroll loans changes according to the type of loan you go to. The interest of each one will depend on your characteristics and your circumstances. In the case of large loans, you should look at the annual equivalent rate (APR), since it includes both commissions, interest, liabilities and all other costs of the loan.
The percentage is around 8%, according to the Bank of Spain. However, we must point out that, in the case that what you request is a mini-loan without a payroll, the equivalent annual rate is not an adequate tool to know its price. This is because, as the name suggests, it is an annual fee and the mini-loans have a much shorter refund period for reimbursement.
The average interest on microloans is around 1% per day. In other words, for every € 100 that you have to pay back in 30 days, you will pay about € 130 on average, and the more money you request, the higher the interest will be. Depending on the personal loan without payroll you ask for, the way you compare prices will change, since it depends on your own characteristics.
How are the forms to ask for personal loans?
If you want an online loan without a payroll you have to fill out an online application from the entity’s website. Thus, the request will be formalized and the entity will have the necessary information to know your profile and decide if they grant you the money without much risk at the time of reimbursement.
Generally, the first information that these entities usually ask you for is the amount you need and the return period that you would like, and that must be strictly complied with. A very frequent question is also the purpose for which the money is going to be used.
Most of the personal loan entities without payroll include a simulator on their website, indicating the amount and the term, they will tell you what the cost of the loan will be before requesting it, and even before providing your personal data.
The personal data that you will want to know are your name, ID, your date of birth, postal and electronic mail, your habitual residence and your telephone number. Also, they will want to know about your work situation.
Another important fact will be your economic situation, such as your financial obligations, for example, if you have someone in your charge. In turn, they may ask you to know the amount of income and monthly expenses you usually have.
Depending on the entity you go to, the analyzes will take more or less time to complete. But in the case of online loans, the answer will be almost instantaneous, since they have algorithms that automatically study the data.
The conditions in the forms
As the name suggests, loans without urgent payroll do not impose the need to collect a salary. Only, you will need to show that you receive regular income that is sufficient and that, in addition, you meet the other requirements that the entity requires.
In most cases, these requirements are that the source of income is sufficient for the disbursement, check that you are of legal age, that your residence is in Spain and that you have no outstanding debts. Although in many cases, there are private lenders that finance you with microprismatics even when you are in ASNEF.
In turn, in the form you must provide the information requested by the entity, such as banking or financial. In this way, you will not have major problem in obtaining financing. However, do not forget that there are situations where you are asked for additional requirements such as seniority or some links but, above all, this happens in the case of traditional banks.
What documents do you need for quick loans without payroll and properties?
In conclusion, certain documents are necessary to demonstrate that you collect regular and sufficient income to reimburse the fees or to demonstrate that you meet the other requirements that each specific entity requires. Although, in general, the documents that will ask you for quick loans without payroll are the usual ones.
In the first place, the DNI or passport so that they know that you are of legal age and permanent residence in Spain. Then, a proof of income, such as VAT summaries in the self-employed, a photocopy of having received the pension, or the IRPF declaration.
Also, a bank statement showing periodic expenses and income, financial activity and your usual consumption, as well as a form filled out properly with your application. You must submit the corresponding form for your loan without payroll with your financial, personal and contact information.
The last thing you should know is that, if you ask for quick loans without payroll to finance a specific project, you may be asked to invoice for that project. In this way, you can justify the purpose that will be given to the capital you have requested. A project can give an entity greater confidence about you and can benefit your interest rate on quick loans.