Personal loan without proof: is it possible?

Do you want to take out a personal loan without having to provide supporting documents? Is it possible to take out a loan without justification. We tell you about the different financing solutions. Obtaining a personal loan without proof to provide is possible on condition. Discover the pitfalls to avoid and the subtleties to take into account to take out credit without proof.

Personal loan, the supporting documents to be provided

To obtain a personal loan in a bank, it is essential to provide certain supporting documents. Banking institutions ask for guarantees and need to obtain information about the borrower. Indeed, the personal loan is directly linked to the person. Any bank branch will ask you for an identity document, proof of address and a bank statement. Depending on the amount requested, the credit agency may also request proof of income. This allows the lender to assess the repayment capacity of the borrower. In the event of a small sum, the last payslip or the tax statement for the past year is sufficient.

Read also: How to choose a personal loan?

Do you have to justify your expense?

The personal loan is contracted for a particular purchase. Generally, the borrower must provide proof of his purchase via proof of expense (invoice, for example). However, some credit organizations accept personal loans without proof of use. This is especially true for smaller sums (less than 3000 euros). In the event of large amounts, or ambitious projects, the credit agency will request purchase invoices, purchase orders or estimates.

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Characteristics of a personal loan without justification

However, it is possible to take out a personal loan without proof. It is a consumer credit. Thanks to this financing solution, it is easy to have a sum of money without having to justify its use. However, this funding also has its downside. The (revisable) interest rates are higher than in the case of a conventional loan. Before taking out a personal loan, make sure you really need it. It is a credit limited in time (between 3 months and 5 years). The duration varies according to the amount of the loan as well as the repayment capacity. Credits without supporting documents are also capped. It is impossible to be loaned more than 75,000 euros. To hope to borrow this sum, needless to say that you will have to be able to provide an excellent file. Generally, credit organizations cap their consumer credit at 20,000 euros. A sum that you could dispose of without providing proof.

Read also: Borrow with a salary of 2000 euros

How to get credit without proof?

Most banks and credit organizations offer loans without proof. However, it is imperative to compare interest rates before taking out a loan. Use credit comparators to compete.

Once you have found your best credit offer, you will need to file a file. For this to be accepted, certain conditions must be met. Among them, you should not have a debt ratio higher than 33% of your total income. You will also need to have a stable job with regular income. It is also important to justify the good maintenance of your accounts. In the event of over-indebtedness, your file will be systematically refused.

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To complete your file, you will be asked for proof of identity and address as well as documents proving your solvency and your ability to repay (latest payslips, bank statements, etc.).

If ever the credit agency does not ask you for any supporting documents, beware rather than rejoice. Generally, this denotes a lack of professionalism and reliability. Always take out a loan in a reputable establishment.

Read also: Personal loan without credit check: everything you need to know

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