Not everyone thinks about the need to save some part of their income, some simply can not afford it. When a person without savings has a need to receive a large enough amount of money, they begin to look for an option to get a bank loan.
Money may be required very unexpectedly, and a person will not have time to get a standard loan, because it takes a lot of time to collect all the necessary documents for a credit transaction. To help in such situations, so-called quick loans can come, for which the borrower will only need a passport.
Advertising or a real opportunity?
Ads about how difficult it is to get a passport loan in just fifteen minutes can be seen everywhere. At the same time, many people wonder whether financial organizations will actually go to the conclusion of such a deal? Often such ads are deceptive and are created only to attract the attention of a large number of potential customers.
When a person comes to a lender to become a member of such a program, they can learn a lot of things that are not told in an ad or booklet. When a person is interested in a loan offer, they are informed that a minimum of documents is required to sign a loan agreement and obtain borrowed funds. You are asked to attach an additional document to your passport that will allow you to identify the borrower. This document can be a pension certificate, driver’s license, etc.
Loans for which you really only need a passport are very difficult to find. Usually, such privileges are provided by banking organizations to their verified clients who have managed to open a deposit account with this bank or have issued their wages through it, and now the financial organization is aware of the movement of money on the account of such a potential borrower. There are other types of banks that can not check the reliability and solvency in a short time, but they agree to issue credit money only on the passport of the borrower if he in turn agrees to high annual interest rates.
Which bank should I contact?
Banks that are part of the country’s financial institutions have a fairly large number of clients, so they do not need to risk offering loans under a passport. If you want to enter into a loan agreement for only one document, you should pay attention to small banking institutions.
More than one lender will not want to risk large amounts of money, so the option of getting borrowed money only with a passport is suitable for people who need a relatively small amount of money up to 200 thousand. When considering this option of obtaining the necessary loan amount, you should always keep in mind the increased interest rates, which may be twice the annual interest on standard lending programs, for participation in which you need to submit a full set of documents.