Offer an instant loan despite Credit bureau and Social Welfare
In the past, numerous borrowers were literally excluded from lending. Borrowers who have a negative Credit bureau, for example, or who only have Social Welfare at their disposal, often had to count on being excluded from lending. An improvement for the borrower with Social Welfare and negative Credit bureau has emerged with the instant lending via the Internet.
The numerous online banks on the Internet have relaxed the access requirements for borrowing and, under certain circumstances, also offer an instant loan despite Credit bureau and Social Welfare. Borrowers can fall back on comparatively low interest rates, quick provision of the loan amount and simple application. The low interest rate level can be attributed to online providers in particular by dispensing with a large branch network and lower personnel expenses.
The significant increase in the number of offers created entirely new possibilities for the borrower with Credit bureau and Social Welfare, but not only did advantages result, but also disadvantages were identified. For example, the comparison of several offers has become significantly more difficult; it is almost impossible to get an objective impression of the overall situation on the market.
Find instant credit despite Credit bureau and Social Welfare
An instant loan despite Credit bureau and Social Welfare can best be found by comparing it with a loan calculator. Before starting the actual comparison, however, your own requirements should be noted. Social Welfare recipients in particular should view the effective interest rate as the most important comparison criterion with their low social income. Borrowers who have Social Welfare and a negative Credit bureau should generally only consider loan offers in comparison that are offered without Social Welfare. With regard to the effective interest rate, the borrower can gain influence in particular via the creditworthiness and the desired credit, but in addition to these individual factors, the processing fees of the bank also play a decisive role.
A low effective interest rate is difficult to obtain for a borrower with a negative Credit bureau and Social Welfare. However, since the credit check of a credit without Credit bureau does without Credit bureau, this results in an advantage for the borrower. The low level of social income makes it all the more important to additionally secure the loan. Loans that allow other means of securing credit, such as a guarantee, should be preferred.
In the case of a guarantee, the guarantor guarantees the successful repayment of the loan. If the repayment fails, the guarantor is fully liable. Last but not least, the term and loan amount must be calculated precisely in advance. The term and loan amount should be as short as possible, only in this way can the risk for the bank be reduced.