Loans that Don’t Require Bank Statements in Australia
There could be a lot of different reasons why anyone would want to take out an Instant cash loan with no bank statements Australia. Typical reasons for applying for a loan are emergency medical care, overseas vacation, car repair or getting a new service for everyday use.
But what if you don’t have the consistent source of income and your bank accounts are a little outnumbered? Some people with this situation tend to hide this truth from potential lenders. So the question is, is it possible to find loans with no bank statements Australia
Yes! It is possible to get yourself a loan even if you don’t have bank statements. These types of loans usually apply to some particular loans and are associated with high-interest rates. Meanwhile, you still have options. Let’s discuss below.
Loan Requiring No Bank Statements Australia
There are many consumers who seek loans without a statement of accounts from banks. Typically, consumers who research such types of loans are those who are not regular income-earners. There are those whose accounts don’t have frequent payment transactions. Whereas, some of them are simply not in the mood to look for their bank statements, then print all of them. Now, the good thing is that it is now possible to avail loans without providing bank statements.
With this opportunity you will no longer be heading off to the bank with you, carrying a pile of paperwork, hoping to get an application for your loan. Nowadays, things can be done effortlessly and much faster. In some cases, you won’t be needing to sign a single form. How about that? If you’re really interested in searching for non-traditional lenders, you can find a lot out there.
These private lenders don’t have the same rigid rules as banks, meaning you can access the cash you need and fast. It is about knowing the different types of loans you can apply for. However, it is also worth noting if there are any extra conditions attached, such as higher interest rates.
As compared to the rules of some banks, these private lenders do not strictly follow the rules. It means that you can easily access the cash you will need. It is only made so you can explore the different kinds of loans to apply for. Even so, you might also want to note that if there are any underlying conditions stipulated, like higher interest rates.
Different types of loans in Australia that allows customers with no bank statements
Take note that in Australia, there are restrictions to be considered in taking out loans with no statement of accounts. For example, you cannot apply for a mortgage loan. But some other loans are covered, and they can help out during financial challenges or will help you achieve your dream vacation. These loans are basically your options:
Whether it is a brand new or secondhand car, it may be used as a collateral against your future loans. Some lenders do not require a bank statement for this. This loan deal is known as secured car loan or low income car loan, wherein the lender has the legal option to take the car if you missed succeeding repayments.
This type of loan is observed over a short period of time and lets you cover your financial undertakings until the next payday. Although they are offered in small amounts in general, it may require you to present some proof of income like a copy of payslip. But then again, each lender may differ in rules. Some of them may not require a bank statement at all.
Often, Personal loans are offered by lenders without the need for a bank statement as proof of the applicant’s ability to repay the loan. You can make use of personal needs to cover for your needs, and the repayment terms can vary from one lender to another. In lieu of a bank statement, there are lenders which offer a secured loan instead. Whilst some of them will incur higher interest rates.
Overall, there are several options to choose from if you are planning to take out a loan with no bank statement needed. You just have to simply need to do some basic research, then select which one you think will work best for you.
How to Apply
Usually, the application process for these loans is very easy and fast, not to mention it needs a few paperwork. For starters, you need to reach out to the private lender. You can choose the lender, although the Australian Lending Centre is what we recommend as it is one of the largest and most reliable private loan providers across the country. They maintain a wide variety and flexible financing options. The application process is mainly done by these 3 simple steps:
- Fill out the application form or make a phone call with the lender. This is the part where you can raise your queries, discuss loan options available, and how they can help you based on your preferences.
- Secure your documents beforehand such as your driver’s license. If you are setting your car as collateral, you may want to prepare its papers too. Don’t worry, as the lender will just inform you what exactly they will need.
- Wait for the results to come from the lender (this usually takes a few hours only). If you have been approved, you can expect the money to be deposited in your bank account within the day.
Get Your Loan Today
Don’t miss the chance to finally get yourself a same day loan without a bank statement. Whether you are planning to finally buy your dream car or just wanting to financially recover from a recent accident, our expert team at Money Scout is at your service to give you the best advice.
In case you wanted to get a loan and you can’t get it from the banks, we recommend you to consult the Australian Lending Centre. They aim to help you find the most suitable loan for you. On top of it, you can put that bank account hidden during the process.