If a person does not work anywhere, it does not mean that he cannot take a loan. Of course, in most cases it is important for banks that the borrower be officially employed, as this implies that he has a stable income. But it is possible to get a loan to an unemployed if the client can show that paying the debt will not be difficult for him. For example, if he is an investor or lives on the income from the sale of copyright.
Loan terms for unemployed person
The main condition so that you can get a loan to the unemployed is to show that there are no problems with obtaining permanent income. Traditionally, it is believed that such a flow of money is provided only by work, and this is confirmed by inquiries and account statements or a payroll card. However, citizens can have many sources of income, which may well be suitable for a bank:
- investments, including those bringing a fixed income (from deposits, bonds, etc.);
- royalties and fees on an ongoing basis;
- Help 3-NDFL for past years or one year, showing the presence of income from which the tax was paid (for example, from renting an apartment);
- contracts for the provision of private services by the borrower to third parties as a specialist (suitable for doctors, lawyers, freelancers, writers and representatives of “free” professions), etc.
For non-working borrowers, the main thing is to show that their permanent income is enough to pay for future debt. If it is correct to collect all the documents and provide a sufficient amount of papers, then it is possible to get a loan without official work.
Ideally, if a potential borrower has a “white” credit history, it is not burdened with family (dependents) and other debts. Naturally, he should not have a criminal record. When these requirements are met, the chances of getting money directly to the card are much higher.
Provision of collateral
The second way to get a loan without an official job is to provide the bank with a pledge of any property. Many institutions, including the Agricultural Bank and Sberbank, are ready to provide not only a loan, but also a mortgage secured by large assets. There are several conditions:
Article in topic: How to take a mortgage in the Agricultural Bank?
- the property itself becomes burdened in favor of the bank;
- the size of the loan or mortgage will not exceed 80% of the estimated value of the collateral;
- the property must be wholly owned by the borrower (as a last resort, by common ownership).
In the case of the provision of collateral it is possible to take out a loan without formal employment, since in this case it is not the borrower’s solvency that is estimated, but the value of the property belonging to him. By providing a deposit, you can even get a mortgage, if the price of the apartment being purchased is not exorbitant and the borrower has enough personal funds to pay the down payment.
As collateral, non-performing borrowers can provide:
- Apartment or house.
- Plot of land.
- Agricultural machinery, trailers, motorcycles, etc.
- Expensive home appliances.
- Objects of art or luxury.
In exceptional cases, securities, investment coins, etc. may be used as collateral.
If, along with the provision of collateral, a person can show sources of steady income, then his chances of taking a loan without official work will increase.
Guarantors and co-borrowers
Most large banks, such as the Agricultural Bank, allow you to get a loan for an unemployed client if he attracts guarantors and co-borrowers to pay the debt. This is especially true when making large amounts of debt – for example, mortgages.
Guarantors and co-borrowers have the same responsibility for non-payment of obligations as the main borrower. Usually, spouses or close family members act in their capacity, sometimes friends and colleagues, and very rarely an employer. The spouse, in any case, must give his consent to the execution of the contract.
If it is important to apply for a loan for an unemployed citizen, then he needs to involve as many working co-borrowers as possible. If their total income is enough to secure liabilities, the bank will give a loan to the applicant with a higher probability.
If a small loan is issued, the funds can be obtained directly to the card.
Loan without references and guarantors: is it possible?
Some banks attract promotional offers in the style of “Helping to get a loan without collateral and guarantors”, “Quick loans on the card”, “Loan to the unemployed”, etc. In most cases, borrowers can actually issue a loan, but the conditions of such contracts are rarely favorable .
Banks, attracting unreliable borrowers, seek to reduce the risks and shift them onto the shoulders of their own clients. So, if loans are allocated to the unemployed, usually the conditions are more stringent:
- increased interest rate (sometimes 1.5-2 times higher than the base rate);
- a small amount issued in one hand;
- large requirements for the design of other certificates and documents;
- the need to attract guarantors;
- mandatory registration of insurance;
- obtaining detailed information on the property owned by the borrower.
Credit Cards and Deals
In most cases, it is easier not to get a loan for the unemployed, but to get a credit card. As a rule, a small credit limit is set for them – within 50 thousand rubles. They are often given not only to the unemployed, but also to regular customers and just for the action. Sometimes they go as a bonus when making a deposit.
It is convenient to use cards if you plan to spend a small amount. If you return it during the grace period (up to 50 days), then you do not even have to pay for the use of funds. Getting a credit card is easier than a loan, as the basic requirements for borrowers are much lower. It can accurately be issued without unnecessary red tape and information, and no need to think about how you can get a loan without having a permanent or documented income.
For example, the Agricultural Bank gives credit cards with such conditions:
- rate – from 23% per annum;
- limit – up to 250,000 rubles;
- grace period – 50 days;
- Cash back up to 5%.
In Sberbank give a card on other conditions:
- rate – from 25% per annum;
- limit – up to 600,000 rubles;
- grace period – until the 20th day of the next month.
In most cases, the cards are given on the same day of treatment – but the limits on them are lower, the stakes are higher.
Where is easier to get?
Often the question arises, in which banks it is easier to take a loan to a person without work and whether there is a list of banks in which you can arrange such loans. Of course, it is easier for a working borrower to gain trust from employees of a financial institution, but large organizations, evaluate customers in many ways.
If you provide a pledge or lie down guarantors, then getting a loan becomes much easier, sometimes you do not even need to show information about income. For example, in the Agricultural Bank, an entire mortgage program for housing loans secured by existing real estate has been designed.
If you are interested in which organizations can give credit without unnecessary certificates of work, then you need to apply either to large federal banks (if there are other sources of income) or to small regional banks that are fighting for each client. But you need to be prepared for higher rates and lower amounts.