A loan can be realized today in many ways. In addition to the house banks and branch banks, online banks also compete for the favor of customers. You can apply for a loan online from your home desk in complete comfort. A preliminary commitment is not long in coming.
After the necessary papers have been sent, signed by the customer and sent back to the bank, the loan amount is transferred to the borrower’s account within a few days. The installments can also be transferred to the lending bank by bank transfer or by means of a standing order. With a corresponding salary and without negative Credit Bureau entries, a loan without guarantor is possible at any time.
When is a guarantor needed and what is its function?
A guarantee is normally no longer required from banks these days. However, occasionally such cases can arise if, for example, the income is insufficient or there are negative Credit Bureau entries. A guarantor is liable for the loan amount if the actual borrower no longer meets his payment obligations. Before he can act as a guarantor, however, his salary and creditworthiness are first checked. If you earn too little or have a bad Credit Bureau, you cannot act as a guarantor.
However, this practice has been abandoned in recent years. If you don’t meet the requirements for a loan, you simply won’t get one. Then there is only the way that friends or relatives can step in with money or take out a loan instead.
Comparison offers for a loan without a guarantor
When looking for a loan without a guarantor, the time factor also plays an important role. In some cases it has to be quick and the loan amount has to be available immediately. However, only the house bank or another branch bank can help, because an instant loan cannot be realized by post.
However, if you need money quickly, you are clearly at a disadvantage, because under these conditions the customer cannot compare the individual offers of the banks. He is dependent on a branch bank, even if the interest rate is significantly higher than the financial institutions on the Internet. A credit contract now requires the original signature of both parties. The dispatch of the loan contract alone takes two days.