When you are looking for a loan that suits your economic needs, one of the most determining factors to be able to enjoy a loan, if not the most, is having a payroll domiciled. This detail implies the existence of a job and its regular remuneration projects in the entity the feeling of reliability when it comes to granting one of its loans. Exhibiting this financial health is very decisive.
If a few days ago we talked about the possibilities of being able to apply for loans without payroll, in this article we are going to focus on the importance of personal payroll loans. If you are interested in knowing how to get them, continue reading our article.
What does it mean to have a personal payroll loan?
In the first place, a personal is a banking product designed to provide an amount of money in exchange for the commitment of an individual to repay it within an established period of time and with periodic interest fixed in the contract. Taking this into account, putting payroll into the equation basically implies supporting the concession of this product with the support that comes with the economic stability of receiving a salary.
This is easily understood: presenting a good financial profile already assures us an image of being able to repay the money borrowed within the deadlines established, without delays. But, above all, presenting a pay slip confirms the idea that, in the event that the client does not end up facing the repayment of a loan, there are other ways to recover the credit granted. For this reason, for the bank, the payroll is the best guarantee.
Now, the fact that it is very helpful to have the payroll domiciled does not mean that many financial institutions grant loans to clients without a payroll involved. There are several supported options on the internet, most of them, in an endorsement or guarantee. Of course, of course, having a good payroll facilitates the entire hiring process and gives us more power when negotiating the desired loan.
What requirements are asked of me to enjoy a payroll loan?
The guarantee of success of a financing is not only insurance for the financier, but also for the client. For this reason, there are a series of financial requirements to grant loans, beyond the client’s own employment contract and protected by law, to ensure the proper functioning and development of the loan. Another measure to avoid over-indebtedness or bad practices on the part of the lender.
That said, the requirements for personal payroll loans are the following:
- Identity document: DNI or NIE.
- Exact amount: in a loan, unlike credits, it is necessary to request a fixed amount. In the event of needing more money, it would be necessary to sign another loan contract.
- Guarantee: in personal loans, the guarantee of a third party is not usually necessary. In the event of needing it, it should undertake to answer for the contract holder in case of non-payment. It is also possible to do it through real estate, such as the danger of guaranteeing the mortgage with the parents’ house, for which the documentation related to it would be necessary, such as the deeds.
- Income Statement: through the IRPF statement, the client’s financial situation can be clearly understood, since their income, debts, and assets are known.
- Proof of income: so that the financier can know the income of the person requesting a loan, they need documentation that proves how much money they regularly earn. In this way, and also knowing if there are other types of debts, she can calculate the debt capacity of the client.
Employees have it easier to demonstrate their income by presenting their latest pay slips. The self-employed, on the other hand, must present documentation proving that they are self-employed.
Loan with payroll while in ASNEF
One of the most frequent searches that users interested in payroll loans carry out is the one referring to the request for this product while in ASNEF. As we have already commented on numerous occasions, the National Association of Credit Financial Establishments is a file to which most banks in Spain have access and where people with outstanding debts are found.
If we belong to a delinquency file, it is clear that our chances of being able to opt for the same offer as another person who is not in ASNEF is less. Now, when we talk about payroll loans and ASNEF, we are not referring to a specific loan, but to a financing method for people registered in this type of file who currently have a stable employment situation.
It must be taken into account that the reasons why a person appears in ASNEF can be very relative, since there is no minimum amount, from the simple fact of not paying a telephone bill we can appear among your files. Of course, our chances of applying for interesting loans will vary depending on the type of debt we have at that time.
Summary and conclusions
In short, personal payroll loans are the most sensible option to be able to get a loan in good conditions. For this reason, it is important to maintain balanced financial health and adequately respond to the general requirements requested by loan entities to achieve it.
If you are considering various personal loan options to redirect your business, we recommend that you read our guide on consumer loans.
