The personal loan without proof is a non-earmarked loan, it can finance the purchase of household appliances as well as a honeymoon. This type of consumer credit is offered by most credit organizations. A prior credit comparison will help you find the most affordable loan rate.
How to choose your personal loan without proof? In addition to the choice of the credit institution, you will also have to choose the most adequate offer. To obtain the best loan, choose the formula that offers the best credit rate and an optimal duration in order to reduce the burden of your debt as much as possible.
Calculating the debt ratio
Before taking out a loan, it is essential to determine your debt ratio beforehand. This represents the total monthly charges borne by a person, rent, bill, credit repayment. The law sets a threshold of 33% not to be exceeded. However, credit institutions consider that a person still has the opportunity to borrow if his debt ratio remains below 50%. It is also the debt ratio that will determine the amount of the loan that can be granted.
However, it is important to remain vigilant because the accumulation of small loans is the primary source of household debt. Above 60%, there is a real risk of over-indebtedness. Income and expenses must remain balanced. Excessive indebtedness can lead to the non-repayment of credit and generate disputes that can lead to a banking ban. Make a careful assessment of the costs of the loan by taking account of the APR, which comprises the base rate and the ancillary costs incurred under the credit agreement.
The choice of credit institution
Virtually all credit organizations offer consumer credit, including personal loans. Today, most offers are available online. Online banks and traditional banks provide consumers with sites dedicated to informing the public about the products they market. Above all, you have the opportunity to carry out all the procedures exclusively online, without having to go out of your way. However, sorting through these offers is not always easy.
We collaborates with the best and most serious lending establishments in order to allow you to take out a personal loan without proof online in complete security. Our site promises you above all the loan at the best price and under the best conditions.
The choice according to the offer of credit
To select a credit offer without supporting documents, you must consider several criteria, including :
The interest rate
It represents the profit margin that the bank applies to your credit agreement and is expressed as a percentage. This rate is strictly controlled and must not be usurious. However, reference should be made only to the APR or annual percentage rate of charge, which is the only indicator that makes it possible to determine the real price of the credit accurately.
The total cost of credit
It is calculated from the APR. The APR includes the basic interest rate but also all the charges incurred in taking out the credit. These include administrative charges, borrower’s insurance charges and the costs of providing security where this is necessary.
The cost of other services
Chances are you will need to open an account with the financial institution that provides the loan. The opening, operation and maintenance of the account can generate charges, premiums. You must take this into account when calculating the cost of credit.
The cost of a possible borrower’s insurance
It is not mandatory, but most lenders will require it as security for the loan. However, be aware that you can now freely choose your loan insurance.