Unfortunately, getting a loan without income is not that easy in our everyday banking or credit life – because of course the banks and savings banks are out to get the borrowed money back, which is difficult if there is no work. If the customer does not have any income, for example from rental and leasing or capital assets, etc., it becomes even more difficult to convince the banks of their own creditworthiness.
Borrow loan without collateral
If it is a loan without collateral, borrowing should be virtually impossible for a person without income, unless a second lender is listed in the loan agreement. Some banks advertise this, but be careful: this is simply a different wording for a loan with a guarantee, which means that the second borrower is immediately obliged if the first borrower, i.e. the person without income, fails should.
However, the situation is different with a loan with collateral – if the borrower can guarantee the repayment of the loan with various collateral instead of his income, then there is basically nothing standing in the way of borrowing – one would think. Unfortunately, things look different in everyday banking, and most banks also refuse to respond when asked for a loan.
How to get a loan with instant approval
It is advisable to contact special credit agencies, such as Lite Lender. The extent to which a loan approval is ultimately granted depends on the customer’s actual economic or financial situation. Unfortunately, people without an income definitely have to say goodbye to Swiss loans that are granted without Credit Bureau, because these loans require an income or an employment relationship – even if the security that you could provide is still as good or high if you are unemployed, you will not receive such a loan.
Of course, the banks act on the one hand for self-protection – but consumers should also understand this behavior as a sign that borrowing may cause them even greater financial difficulties than they already have.