For banks, only one thing counts when granting a loan: collateral. Without these, no matter which provider you choose and what the advertising may suggest, there will be no credit. As a rule, a permanent employment contract and an acceptable income are the most important forms of security. Only those who earn money regularly can pay their installments.
Now there are unfortunately many people who have no work and are therefore unemployed. You lack this important security. If, despite all of this, you ask for an instant loan without a job at a bank, it will almost certainly reject the demand. Sometimes, however, it will also give a good indication of how an instant loan can be possible without a job. So she will recommend the customer to look for other collateral.
A guarantor can fix it
So a guarantor could do a lot of positive things about lending. If he has a high income from a job that is subject to social security contributions, the bank will use this income as the basis for calculating the immediate loan without work.
However, the guarantor must be aware that he takes a lot of responsibility with his work. He is responsible for the loan. If the actual borrower can no longer pay the installments, the bank will immediately contact the guarantor and request the outstanding installments. So you should consider very carefully whether you want to and can act as a guarantor.
Most banks are happy if the guarantor comes from the applicant’s family. So the spouse is a very good guarantor. The children of legal age or the applicant’s parents can also be used as guarantors. However, the applicant’s parents should not have reached retirement age. Banks have a little bit of a problem lending to pensioners. This also applies to guarantors.
Where to get instant credit without a job
A loan can be taken out at any bank or savings bank. If the collateral is correct, then you have a free choice. If, on the other hand, you cannot find a guarantor, you must carefully consider whether a loan is really necessary. Because the offers that are offered outside the traditional banks in the area of credit without work are usually provided with very high interest and fees. The loan – if one comes about – will be significantly more expensive than would otherwise be the case.