Do you want to borrow money without too much paperwork and do you not feel like giving complete accountability? Then you can borrow the best money without a bank. We at Credit Savers have therefore already selected the most advantageous lenders for you. As an independent broker, we only give you the best deals with the lowest interest rates and conditions.
Take care of unexpected expenses with credit
If you want to borrow money without a bank, you must always think carefully about the conditions that are important to you. Borrowing money ensures that you are (temporarily) out of financial difficulties, it can also cause worries. So think carefully about the amount you want to borrow and pay close attention to the conditions. There are different types of loans, each with its own terms and conditions. We will explain this below.
You can take out a personal loan if you have a clear loan target, the amount of which you need is already fixed. Consider, for example, the purchase of a car or the down payment of a holiday. This loan has a fixed interest rate and a fixed term. A big advantage is that the monthly amount that you will pay later will be calculated in advance for you. That way you know where you stand in the near future.
We recommend taking out a revolving credit if you need a financial buffer for a longer period of time. Revolving credit is a flexible form of borrowing because you can borrow money up to a certain limit. This limit is agreed in advance, for example € 10,000. Within the term of the loan you are free to transfer money whenever you want. You can also pay off whenever you want. Taking out a revolving credit is useful if you do not know exactly in advance how much money you will need, for example during a renovation or a study.
Can my loan be refused?
When borrowing money without a bank, you still have to meet a number of conditions.
It is therefore possible that your loan will be refused. This can have various reasons.
Consider, for example, the following situations:
- You have a temporary employment contract (often at an employment agency)
- You receive income that cannot be explained
- You have a negative BKR registration
- You do not have sufficient financial resources to repay the loan within the specified periods
- Your income depends on student finance or benefits
- Your payroll is based on your pay slips
Take out a mini loan
Of course you can also borrow a small amount in the form of a mini loan. This is also a solution if you have a negative BKR registration. You can still borrow money without a bank, but the maximum amount you can borrow is often somewhat lower. A mini loan, also known as a flash loan, is a loan with a loan amount of less than € 1500. You can quickly apply for this loan online and you will have all the money in your account within a few hours. If you need the money quickly, for example to pay the rent, this is a solution.
With a BKR registration, borrowing is a bit more difficult, but certainly not impossible. Although there is no BKR assessment with a mini loan, you will of course be asked about your income and monthly payments. So lenders have some certainty that you can repay the loan amount. If you just need a little extra money and want to borrow money without a bank, this is certainly possible.
Borrow money without income
Do you have (temporarily) no income because you have lost your job, or because you are ill for a long time and cannot work? Then it won’t surprise you that it will be a lot harder to borrow money. After all, you cannot prove that you are able to repay the loan amount. But of course it is not impossible to borrow money without income! This way you can borrow money by depositing items as collateral. For example, think of jewelry or other valuables. Do you receive a benefit? Then it becomes easier to borrow. A condition is that you must receive the benefit structurally and that it is therefore a fixed income. We do, however, recommend that you first read carefully and view the lenders that we have already selected for you. That way you know for sure that you are opting for a reliable party and you can borrow money without a bank.
If you want to borrow an amount between € 2,500 or € 75,000, you can take out a personal loan. But sometimes you have to deal with a situation where you need a certain amount of money quickly. We call these types of loans mini loans, or flash loans. With this type of lender you can borrow a small amount, up to 1500 euros, with a short term (maximum 2 months). This is useful if you are temporarily out of money; for example, your salary will be paid later or you will have a one-off unexpected expense that you cannot finance at that moment, but you can later.