Not in possession of a payslip? No problem, you can also take out a loan!
Are you looking for a loan that does not require you to have a payslip?
How does it work? Very very simple. Several online lenders offer small loans that do not require proof of income. This is because the amounts are relatively small. The amounts you can borrow vary from 50 to 750 USD.
For you, this money can make a difference, while an amount like 750 USD is very little for a bank. So do not hesitate if you are just short of money for a month. The desired amount of money is in your account within a day.
A condition for such a loan is that it is a temporary solution and you do have an income. This is really important to know as you have to repay the entire amount plus the interest within a month.
The loan term is short to ensure to repay the loan.
The repayment term is so short because that is actually the only way for the online lenders to be sure that you repay the loan and make a big profit at the same time. The interest is also several times higher than with a “normal” loan.
The reason why you are just short of money this month is not interesting. Everyone sometimes runs out of money. For example when the refrigerator breaks unexpectedly. A refrigerator is a big expense that, if you’re lucky, you only have to do it once every 10 years. If a refrigerator breaks down, however, there is no other option than to buy a new one as soon as possible.
You had not calculated these costs in advance, so you suddenly have a money shortage that month. A month without a refrigerator is of course also not an option, the food must be kept cool to prevent diseases.
You take out a mini loan online, you will be informed within a few hours whether your loan application has been approved. If that is the case, you often only have to send a text message. After an electronic system has received your text message, the money is immediately deposited into your account.
In order to take out an emergency loan, you must be at least 21 years old and have a fixed income. This fixed income can be salary, but can also be child benefit or student finance.