Loan without bank statements
In order to apply for a loan, you as the borrower must be able to present various documents to the lending bank. These documents usually include bank statements. These give the bank insight into your income as well as expenses and allow for a free cash flow calculation. This calculation is important in order to assess whether you are creditworthy and how much you can pay in monthly installments.
Depending on the bank and the type of loan, you may need to provide bank statements from the last month or even the last quarter of the year. There is no precise regulation or even legal provision in this regard, so banks and savings institutions act quite individually. Therefore, it may also happen that once no bank statements are required. Namely, if the loan amount is particularly small or if other documents can be used to prove income as well as expenses.
Why it may not be possible to submit the bank statements
Now, of course, the question may be allowed as to why bank statements cannot be presented for borrowing. After all, you are regularly provided with these by the bank and are actually also required to keep them properly.
Despite all this, there are many consumers who like to throw away the statements once or lose them in the jumble of many other papers. Or else, one has a direct bank and is therefore not in a position to draw the account statements directly from the machine. However, many direct banks only send these to account holders every few months, so there may be a gap between applying for the loan and the latest bank statements here.
By the way: a copy of the account movements that can be seen in online banking is not considered a bank statement. Only the statements issued by the bank are considered account statements and are accepted as evidence. The printout from online banking can be manipulated too easily and is therefore not accepted.
Who does not require bank statements
If you absolutely need a loan without bank statements, then it can sometimes be a little difficult to find a credit institution that does without the statements completely. However, there are places to go that will easily give you a loan without bank statements.
These points of contact include, of course, your local bank. This you do not have to prove what income and expenses you have, as the house bank for this only need to look into your account movements. Thus, a cumbersome search out and compilation of bank statements is not necessary with a loan without bank statements through the house bank.
And also a consumer loan is in most cases as a loan without bank statements possible. It is requested directly from a merchant, who is rarely interested in your account transactions. Rather, it is important for him that you are earning income and have good credit history. If proof of income is required, which rarely happens, you can also provide this with the help of employment certificates or other documents. The bank statements are not necessary.
With a little luck you can also get a foreign loan without account statements. While such a loan must also always be able to prove that a regular and fixed income is received. But this can also be done with the help of income certificates and the employment contract, which proves all the relevant data around the employment relationship.
On the other hand, if you are self-employed or freelance, you will not find a bank or savings bank that will agree to a loan without account statements. Here you must always have the bank statements to show exactly what capital is in the business and whether it is on solid footing. If you are self-employed or freelance, you should therefore always have all bank statements ready, so as not to further reduce the already poor chances of getting a loan.
The advantages of a loan without bank statements
Even if there are not quite so many possibilities to take out a loan without bank statements, this type of borrowing nevertheless offers various advantages. Perhaps these will also be recognized at some point across the board and you no longer have to submit account statements for other borrowings.
The benefits of this to you as a borrower are primarily that the bank can't get a comprehensive view of your financial issues. Return debit notes are therefore just as irrelevant for a credit decision as installment payments for the credit card or other installment payment agreements that are not recorded in the schufa. Often these are agreements made with, for example, the health insurance company, the energy supplier or other utilities after a large back payment has come flooding into the house. Such agreements are not recorded in schufa and therefore leave their traces only on the bank statements.
But the bank also benefits from a loan without bank statements. She has to sift through fewer documents and can complete the loan more quickly. Particularly with immediate credits the bank profits therefore in the large style.