If you want to borrow money from a bank, you must be able to disclose your economic circumstances in such a way that the bank can derive the applicant’s creditworthiness from it. And so it is important that the income can be proven as well as permanent employment and other payment obligations.
But now there are always people who – for whatever reason – are looking for a loan without a pay slip. It is often because there is simply no salary because the person concerned is unemployed. But it can also happen that the pay slips are simply not available because they have been moved or because they have not yet been distributed by the employer. With all of these reasons, there are different approaches to getting a loan without a paycheck, which we will look at in more detail here.
The credit without a pay slip for the unemployed
The worst starting point on the way to a loan without a pay slip is always unemployment. In the eyes of banks and savings banks, those who have no work and therefore do not have a regular income are unable to service a loan. And this has to be done on time and in full every month so that there is no trouble with the funding bank.
If you are looking for a loan as an unemployed person despite all of this, you will only find it in a good Credit Bureau in consumer credit. This can also be included without a pay slip, since the consumer credit is earmarked and the items purchased are always regarded as security and deposit. With a consumer loan, it is sufficient if you can confirm to the dealer that you have a monthly income of at least 400 USD. It doesn’t matter where the money comes from.
Other loans can only be obtained if you have a solvent co-applicant who has a good income. Otherwise you will not find a bank that lends even 1 cent. Even if this is often suggested by credit intermediaries with the help of advertising.
The credit without payroll with a regular income
However, if only the pay slips are missing because they have been moved or because the employer has not yet distributed them, the situation is completely different. The only thing missing here is proof of the salary, which can also be provided in other ways. The bank statements proving receipt of the salary could be presented to the bank as evidence.
In addition, there is always the option to request the payroll from the employer again. The latter can make a copy of the statements and make them readily available. You rarely have to bother, because the banks are usually satisfied with the bank statements.
If you present this, the bank will check the receipt of the money and will very likely agree to a loan. Which type of loan is then taken up always depends on what was planned with the money from the loan. If you want to buy a vehicle, a car loan is worthwhile. A real estate loan for real estate. And if you just need a little bit of free money, an installment loan can be the right choice for a loan without a pay slip.