Category: Credit

The advantages of credit without proof

It can be said that credit without proof is synonymous with personal loan. Indeed, the personal loan provides money which the beneficiary can use at will. This money must then be reimbursed according to the terms fixed in agreement with the lessor.

The maximum amount granted to the beneficiary depends on the banking establishment, but for certain, the amount can go as far as paying for the purchase of a durable good, otherwise the beneficiary can benefit part of the purchase. In general, according to statistics, personal loans without proof, are used for domestic work such as the purchase of water heaters, restoration of the home, for the purchase of a car, a motorcycle, etc., or simply for traveling. For some people, credit without proof can provide substantial assistance in the event of cash needs relating to occasional and unforeseen expenses.

Who can benefit from a credit without proof?

Admittedly, the term without supporting document mentions a range of freedom and of right, but the financial institution takes its precautions and analyzes before granting the credit to a customer. To see the conditions for granting the personal loan without supporting documents, the financial institution surveys income and the stability of its employment and or its income-generating activities. It analyzes the financial behavior of the person concerned as well as his repayment capacity, and possibly the list of guarantees in the event that repayment is prevented. The bank only grants an amount that matches the eligibility conditions.

The disadvantages and advantages of the loan without proof

In general, the interest rate is higher compared to earmarked loans. Even in the event of non-delivery of the goods, the applicant is still debited, unlike an assigned loan. However, the applicant is notified of the fixed interest rate and can choose the date of withdrawal and the management of the monthly payments. In general, the requested funds can be acquired in less than 48 hours and can be used freely. There is no penalty if the beneficiary wants to advance the repayment of the credit.

The process for consumer credit without proof

The applicant can simulate the credit on the internet by fixing the date of its withdrawal and the management of monthly repayments. The request must be accompanied by the documents specified and required by the financial institution, for the analysis of the eligibility conditions. If the credit is refused, the applicant has the right to question the bank. If the applicant has no response after 2 months, the applicant can appeal to the National Commission for Information Technology and Liberties.