Loan obtaining is becoming challenging every day since there are various formalities. What if you don’t have payslips and bank statements? Getting any loan seems almost impossible in such a situation.
However, this differs from CoreLoans because you can get loans without a payslip and bank statements with quick loan approval. Some online lenders in South Africa contend to help you financially with a 98% approval rate.
Can I get a loan without payslip and bank statements required in South Africa?
If you are wondering if getting a loan is possible without a payslip and bank statements, the answer is yes and no. For lending institutions, having bank statements is mandatory, as well as income proof for loan repayment.
But many reputable direct lenders don’t need your bank statements or payslips while dealing with you. They are very concerned about removing your financial worries by saving your fast money.
What they require from you is your determination to make a loan repayment. Based on this, you can get a loan from them without needing of payslip as well as bank statements.
What documentation will I need for my loan without payslip application?
You will need some following requirements for documentation while applying for a loan without a payslip.
Types of requirements you have to fulfill are:
- Age: Your minimum age should be 18 or plus.
- A bank account: You need a bank account to receive money.
- Any other income: You can show any other income source besides a payslip.
- Contact details: You can provide your contact number, citizenship of South Africa and email id.
The features and benefits of loan without salary slip and bank statement in South Africa
Some features and benefits of loans without salary slips and bank statements exist.
Standard features and benefits included:
- Easy to qualify: You can easily qualify for such loans without any hassle.
- Minimum requirements: You have to manage minimum requirements for these loans.
- Bad credit approval: You can get loan approval with your bad credit.
- Unsecured loans: You need no assets to get loan approval from online lenders.
- Usable for anything: Such funds can be used for anything with no restriction.
Why apply for a payday loan without payslip with CoreLoans?
CoreLoans is the best place to apply for payday without a payslip from direct lenders. Here are some valid reasons for choosing this online platform.
Why choose us:
- Immediate response: You can get faster approval than traditional lending institutions.
- No hidden charges: You are not required to pay charges except for high-interest rates.
- Hassle-free of paperwork formality: You don’t need to get into paperwork formalities when you need funds.
- Same-day funding: You can get your funds the same day after approval.
- Safety of Information: Your personal information is safe and secured with us.
Top tips for speeding up the instant loan without payslip application process
With some steps in South Africa, you can speed up the approval chance for instant loans without a payslip.
Increase your chances of loan approval by following tips below:
- Improve credit: Your credit score is essential to increasing the chance of loan approval, so you need to work on it if this is an obstacle.
- Choose suitable lenders: Choosing the right lenders means choosing the most trustable lenders who can approve your loan application.
- Avoid mistakes: You should avoid mistakes while completing your loan application because many borrowers face rejection.
- Ensure income: Your income is the most critical factor, so you must have it when applying for loans.
- Pay off existing debts: You should pay off your pending debts, which are still unpaid. Taking this step will also improve your loan approval chance.
Read More: How To Improve Credit Score In South Africa?
The step-by-step process of applying for loans no payslip needed
You can complete the overall process for loans with no payslip in a few steps only.
Get instant approval in just 3-steps:
- Start with the online application: You must complete a simple application form by entering some basic details of your income and yourself.
- Instant decision: You can get an instant decision in a few minutes only by getting a loan contract to sign. You must read the terms and conditions before signing and sending the contract back.
- Get funds: You can get your funds in 10 to 15 minutes in your bank account.
Loan Without Payslip And Bank Statement- FAQs
Can you get a loan without a payslip?
Yes, loans without showing payslips are available for borrowers who don’t have one but can pay off their loans on time. These loans come with higher interest rates.
What can I use my loans without bank statements for?
You can use these funds for all short-term emergencies requiring instant money without bank statements.
Can I get a loan with no payslip and no credit check?
Yes, getting a loan without a payslip and credit check is also possible, but you can do this only with a few online lenders. Traditional lenders need help with that.
Can I repay my payday loan early?
Yes, you can repay your loan before your due date, but make sure of prepayment charges. Some lenders don’t charge that.
Can I apply if I am bankrupt?
Yes, you can still apply for money if you are bankrupt. However, this is a bad sign which restricts you from availing financial assistance, but you are lucky with MoneyStar.
Ready to apply with a trusted lender?
Applying does NOT affect your credit score‡