Getting a loan is easy, but that’s why not everyone is possible. Many people are afraid of rejecting a loan because of their personal preconditions, which are often based on too much or too little income. However, a loan without rejection is still advertised by some banks and quite possible with some compromises.
A loan without rejection is not cheap
If a bank wants to guarantee a client that they will not refuse their loan application, they may be taking a huge risk. In the past, the customer could already have attracted attention due to poor payment behavior and the lender has to fear that the repayment installments will be missed. Therefore, a loan without rejection will never be very cheap, because the risk is of course included in the calculation of the interest rates.
In addition, as a borrower you may have to pay an increased processing fee. A favorable interest rate will not be awarded to a bank that promises to grant credit to almost everyone. This compromise has to be made if there is no other alternative. However, every offer – especially if it is apparently very cheap – must be critically scrutinized and checked.
Good conditions create approval
However, not everyone has to fear a rejection. Many people already have very good cards due to their requirements, to get almost any credit granted. This does not always mean a high income, but only sufficient in relation to the loan amount. You can expect a loan without rejection, for example, if you apply for a small loan to 5000 euros and can prove a secure full-time job with regular income. In addition, existing securities are always a guarantee for a license. A loan without rejection can be very cheap with the necessary conditions. The lower the risk that appears as a borrower, the cheaper will be the offer that you can expect.