Quick loans for young people can be found in many non-bank institutions. If you have been working for a short time and you do not have a credit history yet, this is where it will be easiest to borrow a small amount for a short period.
Loan for young people without certificates – where to look for it?
Banks have many more requirements for borrowers, and young people are not always able to meet them all. Non-bank institutions have a much easier and freer credit policy. A loan from a non-bank institution is:
- The money can be used for any purpose.
- Internet service – you can sign the contract at home.
- You can borrow up to several thousand USD.
- The money on your account can even be on the same business day.
- First loan for free – in the promotional offer you can borrow money from the APRC 0%, without interest and commissions.
Youth loan – where to apply for it?
Banks are not favorable for people who are only 18 years old and have no permanent employment. However, all you need is a minimum of 6 months of work experience and you can apply for a loan. Of course, the higher the earnings, the higher the likelihood of getting a loan in a higher amount. You will definitely have to deal with formalities.
The bank will check your creditworthiness, you will probably also need a certificate from your employer, bank statement or the last PIT settlement. Of course, there are banks that offer simplified procedures for granting loans, but remember – it costs money.
A good solution is a loan for young PKO, or rather well known, thanks to Fine Bank TV commercials. This product will allow you a loan from just USD 1,000, and you can get a loan up to USD 24,000 without certification. You will not have to provide additional income documents, so this is a perfect loan for young people. Of course, the loan can be used for any purpose.
Of course, if you need money for “already”, it will be easiest for you to get money from non-bank financial institutions that have been providing loans for 18 years without unnecessary formalities. You will get money there without certificates, only on a proof. If not a bank and not a non-banking institution, then maybe a loan for young credit unions?
We checked the Income Loan offer – you will use it if you receive a monthly amount of min. USD 1,000 Account payments should come from one source. You can receive financing from USD 1,000 to 55,000, and a longer period of inflow to the account favors the award of a higher amount.
Loan for young people – basic conditions
To sum up – quick loans for young people are easiest to take at a non-bank institution. To apply for a loan at one of the quick loan companies you only need:
- A valid ID card – you must provide its number in the online application form.
- Active bank account – the person applying for a loan must have a bank account in his name.
- E-mail address and mobile phone number – these are the data necessary to contact the customer.
- Income statements – loan companies sometimes require an income certificate from the employer, but income statements are more often enough (you simply enter the amount in the form without presenting any documents).
Online youth loan – how do you find the best deal?
Most loan companies conclude contracts with customers over the internet. The borrower only needs to complete the application and you will know the credit decision in a quarter of an hour. How to check which loan for young people is the most profitable? I recommend using our comparison tool. Thanks to this:
- check-in one place the offers of the most popular loans on the market,
- you will compare the available options as conveniently as you like – after interest, commission, APRC, installments or the final amount to be repaid,
- you will find the most current offers on the market – the data in the comparison engine are systematically checked and updated.
A safe loan from 18 years – what to remember?
Loans for young people are a product available from 18 years of age. However, you need to remember a few important things not to fall into the spiral of debt.
When borrowing money, always remember about:
- timely repayment of a loan – a loan from a loan company can be cheaper than in a bank, it can even be free, but exceeding the repayment deadline will result in you paying significantly higher interest,
- adjusting the amount to your needs – do not ask for more money than you need so as not to have problems with repayment,
- checking all the costs of the loan – the interest rate may be low, but additional fees sometimes cause a significant increase in the cost of the loan, so be guided by the APRC.