The monthly salary statement informs about the amount of the salary. At the same time, their submission confirms that the loan applicant was employed by his employer at least last month. A payroll is equal to the payroll, the wage differs mainly by the payment on the basis of the concrete paid working hours of a fixed salary. Self-employed and freelancers as well as retirees and pensioners necessarily apply for a loan without a pay slip, but have other evidence of income levels available. Furthermore, lending without the presentation of salary and payroll accounting is traditionally customary in commerce and also possible with immediate borrowing.
Other income documents than the payroll
Self-employed and freelancers make a profit, but no salary. The monthly income during retirement consists of the statutory pension or pension and further payments from the private or occupational pension scheme. A loan requested by the relevant person will be given without a pay slip, but not without proof of income. As such, freelancers and the self-employed are mostly taxed last year, while retirees and pensioners submit their pensions. Lending without a salary statement, but with other income documents, is basically possible if the bank rates the income level as sufficient to pay the loan installments. In addition, many credit institutions require that part of the income attachable to improper repayment of the loan be higher than the seizure limit. Self-employed and freelancers also note that they are not welcome at all banks as credit customers.
Bank lending waiving a pay slip
Individual banks promote the loan without payroll as a special service. In this case, these are predominantly instant loans whose final processing the bank agrees within two bank working days. This short processing period does not allow a careful examination of submitted salary documents, so that individual banks waive the presentation of documents. The loan without payroll and without any other proof of income is primarily for applicants whose income is composed of different sources or fluctuates strongly monthly. The request for monthly income in the loan application is compulsory, in contrast to the request for supporting documents. Of course, the information provided by the loan applicant must be honest. However, the calculation of a monthly average income in the case of fluctuating earnings from work and the summary of all income components are not objected to. Even the crediting of benefits in kind provided by the partner or, in the case of young borrowers, by the parents as part of the monthly income is possible.
A deliberate exaggeration of the total income, however, is in no case permissible when applying for a loan without payroll. Such an approach can not only have legal consequences, but is primarily linked to the right of the credit bank to make the entire loan due immediately upon disclosure. The fact that customers with non-bank-approved income components use the loan without a paycheck to obtain a needed loan is also known to the providers of the corresponding products. Since they take into account the associated increased risk of default in the calculation of their interest rates, an online easily feasible cost comparison is possible. This determines the cheapest instant loan without payroll. Prerequisite for immediate borrowing without payroll is usually a private credit-information without any negative entry. When financing vehicles, auto banks declare that they are willing to lend without payroll or alternative proof of income if the customer pays at least one third of the car price in cash.
Lending without payroll is a tradition
By far the majority of bank accounts give account customers the disposition credit without payroll. Although you can determine the receipt of payment, but do not know whether the transfer by the employer contains only the salary or expenses. Many credit institutions generally take into account all incoming payments when determining the disposition amount, even if they come from sources other than pay. Even with the reissue of credit cards, the requirement of a pay slip or other proof of income is no longer common practice.
Rather, more and more issuers issue the requested card after merely stating the household income, if the new customer initially settles for the standard disposition framework. In many cases, installment payments directly negotiated with or brokered by a merchant are also approved as a non-pending credit. For Internet orders and purchases with Teilzahlungswunsch require most sellers up to a specified amount limit only the presentation of the identity card and a bank or credit card. Individual promotional loans from KfW Bank are also issued without payroll or proof of income. These include above all the loans for students. Similar promotional loans, which are also expected to be expected as income after the end of their studies, are also provided by some commercial banks.