The offer for a quick loan is not necessarily to be equated with an instant loan, so that the processing time can be more than two bank working days and the applicant takes the actual processing time from the terms and conditions.
Only the term instant credit offers a reliable indication of the speed at which money is paid out, since it refers to processing of the application within two bank working days. Proof of salary proves the amount of income achieved, but it is not always required for quick loan processing.
From the point of view of the financial institution granting him, a quick loan without proof of salary makes it easier to process the loan. There is no need to request income documents if, due to the promised fast processing of the loan application, these can only be checked superficially or at random. By not having to provide the documents, a quick loan without proof of salary is associated with low processing costs, so that direct banks increasingly forego a copy of the wage statement for smaller loan amounts and Credit Bureau information without a negative feature.
Payment by installments has long been the rule as a dedicated, quick loan without proof of salary. The dispatch often takes place immediately after receipt of the order, the mail order company only makes a request for the orderer’s salary if the goods are of high value. This method, which has proven itself in catalog trading and Internet orders, is increasingly being used by stationary trading companies.
A quick loan without proof of salary does not release the loan applicant from the obligation to only provide the bank with correct information. A deliberate misstatement regarding the income entitles the bank to a subsequent termination even if all installments are transferred on time if the behavior is noticeable. Since the bank does not require proof of salary, differences regarding the eligibility of individual income components are excluded.
This means that a quick loan without proof of salary can also be taken out if the applicant receives only a small amount of earnings from their main job and additional income from a part-time job or from social security funds such as the job center.
Borrowers with loans without proof of salary ensure that they can service their liabilities throughout the term. If individual income components cannot be reliably achieved every month, as a precaution choose a loan with an extended term and reduced monthly installments.