Loan without income: what you need to know about it to the borrower?

More recently, for the loan had to collect and provide the lending bank a huge number of various documents and certificates, but these days, many banking institutions do not require anything other than a passport and identification code.  

They did not even ask for the borrower's income statement, which is very convenient for those who receive a salary "in the envelope." But remember that the bank will never do business in their own detriment, so attractive at first glance, credit conditions necessarily compensated in the future value of the interest rate. 

 Credit institutions is increasing, leading to greater competition among them, banks are looking for new ways to attract new customers with competitive advantage, which may be made in speed and simplify the loan. In most cases, getting a consumer loan to present an income statement is not necessary: ​​the smaller the amount of the loan, the lower the risk of the bank guarantee and the less is required of you. Said by bankers, such loans without income is actually no different from the ordinary, except for a simpler decision-making procedure and a smaller amount. 

 Size of the maximum loan amount, down payment, fees, rates, submitted documents - all this affects the amount of credit risk. Accordingly, the part of the bank is less risky to give loan to the borrower, granted the certificate of income than other customers, which this present document can not.

The dynamics of lending in recent years suggests that the total amount of loans without income is growing rapidly, but the delay on them has not reached critical levels, so the banks do not lose the opportunity to earn. Today, more than 60% of consumer loans granted by banks without this help. Total payment on the loan with a certificate of income exceeds fee on the loan provided without it, about 10% of the value of goods purchased on credit. In fact the value of this amount depends on the borrower's loan package, the group acquires the goods, the presence and magnitude of the initial contribution.