Borrowing money without income is not easy. Moreover, considering your personal situation, you have to ask yourself whether this is advisable. If you want to borrow money you always have to pay it back. And also with the additional interest and possibly other costs. And if you don’t have a fixed income, this can of course be difficult.
Borrow from a bank
At a bank it will not be easy to borrow money without income. Or maybe you can even say that this is practically impossible. Banks set conditions on your income before they lend you money. This is to ensure that in the future you will be able to repay the loan amount. Certainly in view of the recent credit crisis, banks have become much more cautious in providing loans.
In addition to the income requirements, banks also look at your BKR history. If you have a negative BKR registration, borrowing money will be difficult at a bank. Borrowing money without income and a negative BKR registration is simply an impossible task.
The different options for borrowing money without income
Although the options are limited, there are still opportunities to borrow money. Below you can see the possibilities for borrowing money without income.
1. Friends or family
You can see if there are people in your family or circle of friends who can lend you money. Personally, I believe that you should always be careful with this. If you have problems repaying the loan amount, as you have agreed, this can easily lead to a fight. You are not the first to get into a fight with his family, or lose good friends by borrowing money and not being able to pay back in time.
On the other hand, your family or friends will not charge high interest. Or maybe no interest at all. If you are convinced that you can repay on time, then this is worth considering. But know what you are starting.
2. Via the municipal credit bank
The municipality also has opportunities to borrow money. Especially for people who have little income or money and have a shortage of money. For this you can turn to the municipal credit bank or the social bank. They view your financial situation and assess whether you can qualify for this.
The municipality’s point of view is also to provide a loan to people without an income, without having to pay high interest for this.
3. Mini loan or mini credit
If you still want to have money without having an income, then you are usually dependent on different providers of mini-loans. With these loans, the requirements for granting a loan are much less strict. The risk with these loans is covered by a guarantee that is requested.
Due to a guarantee, the risk of non-repayment for the lender is considerably less.
In addition, roughly said, it doesn’t really matter to the lender if you don’t pay back on time. They can then simply recover the loan amount, interest and any other costs from the guarantor.
How much can you borrow without income
You can borrow a maximum of € 1,500 via a mini loan. Mini loans are aimed at providing small loans, such as borrowing amounts of 100 euros. For large loans you cannot go to the providers of mini loans such as Dapodle and Merratu. Then you have to rely on banks or other lenders.
Requesting a mini-loan through the above-mentioned lenders can be done very quickly. As mentioned earlier, no BKR assessment is performed, which makes the acceptance process much easier. And moreover, taking out a loan by omitting this check will also be much quicker. A BKR review takes a few days to complete quickly, while you can already have money in your account within 24 hours when taking out a mini loan. Even if you have a low income. And you can also borrow without a fixed income.
How does taking out a mini loan work?
You can take out a mini-loan online via the website of Dapodle and Merratu. You can do this entirely online. No complicated questions are asked and you can submit your application within 10 minutes.
You will then be kept informed of the progress by email. If everything goes according to plan, then you can have the money in your account within 24 hours and you can immediately have the money.