Under what conditions can a loan of 10000 euros be obtained without a payslip ? The funding requested by people who cannot present an income document are among the most discussed topics: there are many people who need a loan to cover expenses or to carry out their project, but their request is rejected because they do not comply with all the necessary requirements (including, in fact, the presence of a demonstrable income); we try to understand if and how it is possible to obtain a loan of 10000 euros without a payslip and let’s take a look at the conditions proposed in the estimate: Bank Private Bank and Fast Credit for a loan with repayment in 5 years.
Requirements for a loan without a payslip of 10,000 euros
The category of loans without payroll of 10 thousand euros collects those forms of financing that can be accessed by people who do not receive a pension or a fixed salary that can be demonstrated with an income document; even if the audience of interested parties is really wide (as shown by the many researches done on the web on this specific topic), obtaining loans of this type is not the simplest thing in the world. Before accepting a request for funding, banks check if the potential customer meets the requirements :
- must be aged between 18 and 70 or 75;
- must reside in Italy;
- he must not be registered in the lists of protesters or bad payers;
- must have a demonstrable income.
The reliability of the applicant is automatically assessed by the institution with a check on the registers of protestors and of the Central Financial Risks, while the personal data requirement and residence in Italy are easily verified through the identity document that must be attached to the loan application; the identity card (or passport or driving license) is not the only document to be presented: it is necessary to provide an income document to prove the presence of the last requirement of the previous list.
Reading the previous lines, it would seem logical to think that those who do not have this document cannot obtain a loan, but this is not exactly the case: for them there are loans without payroll. They are not always easy to get, but there are some attempts that deserve to be done. First of all we need to clarify one thing: we talk about loans without pay, but it would be more correct to talk about loans without an income document. The payslip (which is the statement that the employer sends to his employees when he pays his salary and which summarizes some information on the employment relationship and on the composition of the salary) is not the only income document accepted by the banks and finance companies to give the go-ahead for a loan of 10,000 euros: professionals and self-employed workers can present their latest Unico model, while retirees can submit the last pension payslips or the OBIS M model. Despite this “Enlargement”, the people who have to resort to loans without payroll are so many: that of the unemployed is the first category that comes to mind, but just think for a moment to understand that even housewives, atypical students or irregular workers are among the stakeholders.
What guarantees to offer to get a loan without a payslip of 10 thousand euros
We must then make another clarification: many people think that the term “loans without pay” is synonymous with “loans without guarantees”: nothing could be more wrong! Banks and finance companies before lending money ensure that the beneficiary is able to repay them : if he does not have an income he must demonstrate in other ways that he can show that he can repay his debt. The so-called alternative guarantees play a fundamental role in loans without payslips. The first one that can come to mind is the classic mortgage on a property owned, but since we are talking about financing with not particularly high amounts (in our example we will talk about a loan of 10000 euros without payroll, also because being able to get figures higher becomes even more complicated) in most cases such a proposal will be rejected by the credit institution because in case of failure to repay it would be complex to get back the sums paid. He certainly has a few more possibilities for those who do not receive income from work or retirement but can count on regular income every month; to explain ourselves better we can give a couple of examples: the income of an investment, the rent that is received punctually for a property owned that has been leased, the maintenance check paid by the former spouse and so on; obviously the amount requested must be congruous at entry (which must in any case be demonstrable).
But to find out the safest way to get a loan without a payslip of 10,000 euros we need to get acquainted with a new figure, that of the guarantor. The guarantor is a person who commits to the bank or financial company to pay the loan installments if the principal debtor does not do so. Naturally the person proposed for this role must be considered reliable and solid : in addition to the personal requirements (usually must be aged between 18 and 70) he must have a good income (better if with a good permanent employment contract) ) and must have an immaculate credit history (no registrations in the Crif or in the register of protesters); if he is also the owner of a property it is a point in his favor. Usually the person who agrees to act as guarantor is a person who is very close to the applicant (the parent, the spouse, an old friend), but this is only because it is easier to find someone more willing to take an obligation of the kind: in reality the credit institute does not care about the constraint that exists between the principal debtor and his guarantor, they are interested only that this is a person able to ensure the repayment of the loan without payroll of 10 thousand euros.
Loan estimate of 10000 euros without a payslip with repayment in 5 years
The presence of a guarantor that the credit institution deems reliable and safe allows one to obtain loans at the same conditions proposed for normal personal loans: let’s take a look at Bank Private Bank and Fast Credit quotes to know the rates and amounts installments for a loan of 10000 euros without a payslip with guarantor and repayment in 5 years.
On the Bank website there is a simulator available that allows you to get a quote in just a few seconds: the first thing to do is select the project you want to carry out (in this example we select the “various projects” item), then we indicate the amount : our 10000 euro loan without pay can be repaid in 5 years paying 60 monthly installments of 196.80 euros, with TAN 6.74% and Taeg 6.95%, for a total to be returned to the financial amount that amounts at 11,808 euros. Obviously it is also possible to opt for a different duration: it goes from the repayment plan in 18 months (with the highest installments, which amount to 585.70 euros with TAN to 6.74% and APR to 6.95%) up to maximum duration of 84 months, which of course is the one that provides for the payment of the lowest installments (149.70 euros with TAN at 6.74% and APR at 6.96%), but it is also the one that provides for a total amount to be repaid higher (€ 12,574.80).
Also on the Bank website it is possible to use a simulator to obtain a quote : in this case it is sufficient to indicate the desired amount and the number of installments. A loan of 10,000 euros without a payslip with repayment in 5 years is repaid with 60 monthly installments of 192.10 euros, with TAN 4.92% and APR 6.45% and with total amount due by the applicant which amounts to 11,670 euros. Bank also allows you to choose from a wide range of maturities: ranging from a minimum of 12 installments of 872.80 euros (with TAN to 4.92% and APR to 9.78%) to a maximum of 120 installments of 118 euros (with 6.92% TAN and 8.10% APR).
Not long ago Private Bank also allows you to calculate a quote and apply for a loan online : as always, the use of the simulator is really very simple, since it is enough to select a project to be carried out and the amount of which you have need to then choose the combination of duration and amount of installments more in line with one’s needs or possibilities. In our example we always refer to a loan of 10,000 euros without a payslip with guarantor and repayment in 5 years: as a project we choose “combination of different assets”. Private Bank suggests the different durations of the repayment plan in relation to the monthly payment you are willing to pay; with an installment of € 220.18 it will be possible to repay the debt in 60 months, for a total amount due by the client which amounts to € 13,297.04.
On the Credit website there is no simulator for personal loans: there is only one to calculate the mortgage payment. However, to understand what the conditions proposed by the well-known institute may be, we can take a look at the examples it reports on its portal regarding the Easy Credit Dynamic Loan, the solution that allows you to change the installment, skip the installment or top up the loan during the repayment plan. A 4,000 euro loan can be repaid in 36 months with installments of 128.88 euros (TAN 9.90% and APR 11.59%), 64 months with installments of 80.70 euros (TAN 9.90% and APR 11, 18%) or in 84 months with installments of 66.20 euros (TAN 9.90% and APR 11.03%).
The comparison: the difference between TAN and APR in loans without payroll of 10,000 euros
When looking for a 10000 euro loan without a payslip with guarantor it is very important to make comparisons before proceeding with the request: as we have seen, the tools to get an online quote are not lacking, from the simulators on the official websites of the institutes to the various comparator portals. As you can easily see also from the examples just reported, the datum to look with more attention when making a comparison between the different solutions is the APR. The TAN (nominal annual rate) is nothing more than the interest rate applied by the lender, while the APR (global effective year rate) is a rate that expresses as a percentage on an annual basis the total cost of the loan, considering both the interest to be paid to the institution that other charges and other expenses related to the transaction.
However, even if most of the loans can now be requested directly online, given the particular condition of the applicant (without payslip) it would not be a bad idea to go in person to a branch or agency to allow bank staff or of the financial company to better assess the request. Even if the presence of a guarantor greatly increases the chances of obtaining a loan without pay, we must not forget that the last word is up to the credit institution, which individually assesses each loan application.
Loans between private individuals and bills of exchange without a payslip of 10,000 euros
If you are not able to get a loan without a payslip from the banks or the financial companies, you can consider the other options. The first that can come to mind is the 10,000 euro private loan : you can borrow money from friends or relatives (perhaps by obtaining favorable conditions) or by using online platforms that play the role of a meeting point for those who request money on loan and those who are willing to offer them in exchange for an interest rate (it must be said that even in order to obtain financing through these platforms it is necessary to present specific requirements): in this case the payslip is not necessary.
Then there would also be loans for euro 10,000 ; is a topic that has come back into fashion in recent years: it can be requested by anyone (even by protesters and bad payers) and it is usually granted quickly, but it must always be remembered that the bill is an executive credit, therefore just not paying an installment to trigger the protest and foreclosure of assets (without having to wait for further court decisions); moreover, the interest rates are not low and the financing has quite high charges.
10,000 euro pawn loan without paycheck
The last option is the 10,000 euro pledge loan : a valuable item is pledged (especially those with an easily identifiable valuation, such as jewelery, gold, coins, but in some cases even carpets, are taken into consideration), furs and works of art) and you receive in exchange a sum of money (lower than the value of the object in pawn) that will have to be returned within the expiry together with the interests, otherwise you will lose the good committed; this is a quick solution, but it has a fairly limited duration (from 3 months up to a maximum of one year) and does not allow for too high amounts, so it cannot be taken into consideration if, as in the previous examples, we need a 10000 euro loan without payslip.