Loan without Income


If you need a loan, but have no fixed income, lending is usually not possible. In principle, German banks only grant loans if the borrower has a regular income, can provide evidence of an unfinished and permanent employment relationship, and a query from private credit is positive. There is no credit without salary at German banks, it does not matter whether it is a branch bank or an online or direct bank. The fact that you can not get a loan without salary is not only a problem for unemployed creditors, even freelancers, as well as self-employed have to fight it, because even they have no regular income that they can specify when applying for credit. Even if a loan without salary is to be used only for private purposes, lending to the self-employed and freelancers is often problematic. For a loan without a salary statement, the high risk of default is a problem because banks understandably want to keep this risk as low as possible and therefore require each borrower to provide evidence of a regular income that ensures that the loan granted can be paid. A positive private credit information is not sufficient for banks as collateral, therefore, a loan without salary is usually difficult but possible with renowned providers.

No salary for self-employed and freelancers

Self-employed and freelancers, however, have the opportunity to obtain credit without any proof of salary by other means of proof, so documents must be submitted to the bank’s profit and loss account , as well as income tax assessments and account statements. Only then can the creditworthiness of freelance and self-employed borrowers be checked, only then can it be decided whether a loan can be awarded without salary.

Credit without salary for the unemployed

For unemployed consumers without income, however, it is much more difficult to obtain a loan without salary. With German banks one will have no luck, because the receipt of social benefits such as unemployment benefit I or Hartz 4 are not sufficient for a lending. If you are without income and need a loan without salary, you should contact a credit intermediary, because he has contact with banks abroad, they not only do without a query of private credit, but also forgive loans without income. Since no income can serve as collateral, the credit without salary certificates must be hedged in another way, this is possible through a property, securities, a capital-forming insurance or a co-applicant, even loan with guarantor.