Of course, people without regular income who need a loan must be able to provide other guarantees for the lack of proof of income. For example:
- Real estate or property
- Endowment policy
- Creditworthy co-applicant (guarantor) – friends, parents, spouse
Without such collateral, it will be difficult, if not impossible, to get a loan without proof of income.
Loan without income
People without a fixed income are, for example, students or unemployed. Since these groups of people do not have regular work and, if they do not repay the monthly installments, have no attachable income, they are not ideal customers for the banks. They can then often not be serviced with a loan without other adequate collateral – for their and their own protection.
In most cases, two or three current salary statements must be submitted to a bank with the loan application, which provide the monthly income. In addition, value is usually placed on an open-ended, of course unsigned and outgrown trial period. However, if you cannot show this, you have to think about alternatives to a normal loan.
Swiss loans / credit intermediaries
Swiss loans or an installment loan offered by credit intermediaries should be used with caution, as the interest payable for the lack of proof of income is very high and fees and commissions may also arise before approval. Sometimes even attempts are made to give the impression of a Swiss loan via Swiss-sounding names, even though they are German lenders.
With formulations such as “free loan request for an instant loan”, the credit broker also wants to suggest that you do not have to pay any fees in advance. Now the request is free – but not the processing of the request. So make absolutely sure not to pay any upfront costs before a confirmed and written loan approval and payment of the loan. It is often advertised with an immediate check (instant check) and the desperate customer who is looking for an “express credit” is lured.
If there is a Credit Bureau entry in addition to the missing proof of income, the level of difficulty for successful borrowing increases again. Swiss loans for a “loan without Credit Bureau” are known – but they cannot lend their money without risk, but insist on the above-mentioned collateral.
Short-term loan providers offer an interesting possibility of temporarily bridging a financial bottleneck without submitting proof of income and, in some cases, in the case of negative Credit Bureau. The loan amounts here usually have three digits and the interest is stately. The loan usually has to be repaid relatively quickly.
You should still try the way via a personal loan – i.e. a loan from private to private. Depending on the lender’s attitude, no proof of salary is required here. This is often the better choice, especially for a small loan or mini loan – i.e. if the loan amount has three or four digits.
A personal loan agreement can either be concluded with a known person (parents, relatives, acquaintances, colleagues, neighbors, ..) or via a corresponding online platform. Before you borrow money from a private person, please read our topic page on personal loans.
Even if you are in a situation that makes it difficult to get a loan: do not act or sign hastily. Make a loan comparison and always have at least two to three loan offers made before you decide.