Cash Loan without Income Certificates

Is it possible to get a cash loan without proof of income, and where will it be issued?

One of the main documents that may be required when applying for a loan is a certificate of income. It indicates the borrower’s place of work and the amount of his official salary. This certificate is necessary as an official confirmation – because the final decision on the loan and the conditions for its repayment directly depend on the availability of work and the amount of income. These are the demands put forward by the majority of large banking institutions. But there is another solution – a cash loan without references and guarantors from an MFI (microfinance organization). This is a simple and fast way, especially if the borrower is in a critical situation and the money is needed urgently. For such organizations, a cash loan without proof of income is a standard practice, because the amount of credit is much smaller, as are the terms for repaying the debt.

The BANK-UA platform offers a whole list of such microfinance organizations, with legal registration and various terms of cooperation at the client’s choice.

Will the bank issue a cash loan without proof of income?

A certificate of income is a mandatory document that will be asked first at the bank if you apply for a loan there. If we are talking about a loan for a large amount and for a long time – without this paper, the loan will not be approved for you.

Some banks are ready to issue non-targeted consumer loans without proof of income. However, not every company agrees to this, and the conditions for such loans are much worse than for targeted loans.

This approach is practiced to protect banks’ money from unscrupulous borrowers. Since the bank issues large sums and for a long period of time, it risks the money more than if it were issued to a person whose income the company is sure of.

Which companies issue cash loans without proof of income, and under what conditions?

In addition to banks, you can get a loan in one more place – at a microfinance organization. These companies are much more loyal to customers, and put forward much less mandatory requirements. First of all, they do not require a certificate of income. They may inquire about your salary and place of work, but it will not be necessary to document this.

Why are MFIs ready to issue loans without proof of income:

• the amounts issued by the MFI are much smaller than those of the bank: usually the maximum limit is UAH 10,000 (for regular customers, the limit may increase);
• the terms for which the MFI issues a loan are therefore less: in most companies, it is 30 days (for regular customers, it can also last, and there is also the possibility of deferring repayment if the client has difficulties with this).

The only documents that must be submitted to the MFI are the originals of the passport and TIN. You will also need a phone number and bank card of any Ukrainian bank. If the client receives the money in cash at the branch and plans to repay in cash as well, you can do without a card.

The entire procedure – from filing an application to receiving a transfer to the card – can take up to 1 hour on average if the client applies for the first time, and up to 15-30 minutes if the client comes to the MFI again. The procedure itself consistently looks like this: first, the client registers on the website of the MFI, then provides personal data and photos of documents.

After that, the user receives a credit agreement specifying all conditions (if the application is submitted online, it comes to the post office, if the application is submitted in a branch, the contract is printed by the MFI manager). You need to familiarize yourself with the contract and confirm it. After that, the loan is considered approved and the customer receives cash.

Who can take a cash loan without references?

A person who has the citizenship of Ukraine and has reached the age of majority can get a cash loan without a certificate of income. Making an application is the most simplified procedure, you will need equipment with Internet access, a passport and an identification code.

The loan is available:

• unemployed;
• mothers on maternity leave;
• students;
• pensioners

Is it possible to take a cash loan without proof of income with a bad credit history? Yes, the MFI rarely checks previous loans and meets individuals and various life circumstances.

Decisions on receiving funds are made automatically, within one hour, most microfinance organizations guarantee the transfer of money. At the same time, it is not necessary to have an active bank card, a cash loan in Ukraine without a certificate of income can be obtained in any branch and even a self-service terminal in your name.

How to repay a loan in cash without references?

If the funds were received in cash and there is no bank card linked, the loans can also be returned in cash. It is possible to use the cash desk of any bank branch or even a post office.

In addition, it is always possible to close the loan in the following ways:

• in the personal account on the website of the microfinance organization;
• through payment terminals that can be found in banks, shopping centers, supermarkets and other public places;
• by making an online money transfer.

After paying the loan, we recommend contacting the MFI and clarifying the absence of commissions, fines, additional interest that may affect the decision to fully repay the debt.

List of companies that are ready to issue a cash loan without proof of income

In Ukraine, there are more than two dozen microfinance organizations that issue microloans. Each of them has its own conditions, pros and cons. In order not to waste time, independently searching and comparing each company, you can use the Bank-ua service. This is a site that provides information on dozens of Ukrainian MFIs. Thanks to this list, you can easily and conveniently compare their conditions in 5-10 minutes and choose the best option.

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