Are you looking for an instant payday loan comparison without Credit Bureau that provides you with all the necessary comparison data in detail? The article provides you with a credit comparison of the foreign banks that are allowed to grant legally Credit Bureau-free credit to Germany.
Instant payday loan comparison without Credit Bureau
When looking for an instant payday loan without Credit Bureau, a credit comparison of the direct providers is rarely offered. Only “award-winning” loan offers can be found through an intermediary. The test winner is praised in the highest tones, the competition offers are lost in praise. A ranking list is even published every month. It is therefore reasonable to assume that various foreign banks are vying for the market in Germany. If you want to believe this fairy tale further, you will be disadvantaged.
A forgivable misleading begins with the word “instant payday loan”. An instant payday loan is a small loan that is decided using the simplified credit check procedure. The procedure is simple. The Credit Bureau information is obtained, it must be clean, and the prospect’s score is also queried. The entire credit check, apart from a simple copy of the pay slip, is based on the Credit Bureau and the score. It is therefore clear that an instant payday loan is not possible without Credit Bureau. Nevertheless, this advertising exaggeration is forgivable.
A loan without Credit Bureau can also be a loan with a fast payout. Dubios is, however, an instant payday loan comparison without advertising Credit Bureau and even crowning a test winner in 2013. Only until 2009 did various Swiss companies offer loans without Credit Bureau.
Credit comparison options without Credit Bureau
Review: Fidium Finanz AG was particularly active among the three “big ones”. The majority of Fidium granted around 108 million USD without Credit Bureau to Germans. (Source court files Az. 8 C 2.09). In April 2009, the Federal Administrative Court ruled on the refraining from lending in Germany, ordered by the BaFin (Federal Financial Supervisory Authority).
The Federal Administrative Court finally ruled in April 2009 on the legal dispute, which had been going on for six years. It prohibited further lending on German territory. All previous providers lacked the banking license for lending outside their national borders. Since then, Fidium has been banned from working. The others drew their conclusions for their own business and also discontinued the business model.
Only since 2010 has there been a single legal loan option without a Credit Bureau from a foreign bank. It is Infra Bank from Liechtenstein. It was founded on the basis of the requirements of the Fidium judgment. According to unconfirmed information, the bank is backed by the same investors who have backed all other Swiss loans in the past. All credit offers from reputable credit intermediaries therefore necessarily refer to the Liechtenstein loan.
An instant payday loan comparison without Credit Bureau is not meaningful with only one provider. However, the advertising for a test winner for loan offers without Credit Bureau says a lot. However, everyone has to make personal conclusions themselves.
Credit conditions for the only legal loan offer without Credit Bureau
A real instant payday loan comparison without Credit Bureau is unfortunately not possible with a provider. The following credit terms and interest (as of November 2013) apply to direct loan applications from Infra Bank. There are no special conditions for credit intermediaries. Your fees must also be paid. (Source: Sigma hotline). Credit opportunities for a loan without Credit Bureau are only dependent on employees. As far as is known, there is no legal loan offer for the unemployed or the self-employed.
The employment contract must not be limited or terminated. An employment relationship that has already existed for at least 12 months is also required. The loan offer, which is also advertised as an emergency loan without Credit Bureau, does not work with the usual advertising exaggerations.
Only a loan without Credit Bureau with two optional loan amounts is offered. Loan option one comprises 3,500 loans at an annual percentage rate of 11.62 percent. A net working income of at least 1,130 USD qualifies for the loan. (Single person without maintenance).
For a 5,000 USD loan without Credit Bureau, 11.61 percent effective annual interest is calculated. A single person must prove at least 1,600 USD of monthly net income for qualification.
An instant payday loan comparison without Credit Bureau does not lead to a large selection of different loan providers. Anyone looking for a serious and legal Credit Bureau-free loan from a foreign bank will automatically land at Infra Bank from Liechtenstein. The offers of all reputable credit intermediaries, as far as known, only refer to this credit option.