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No Credit Check Loans

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No Credit Check Loans

Are you looking for a loan? Do you have bad credit and are unable to get a loan from your credit union or bank? There are times when people are not able to keep up with their repayments and end up with bad credit. It affects their credit score negatively. Since most lenders check the credit score before approving any applicant, it makes it difficult for people with bad credit to get loan in an emergency. This is where lenders like Cash Smart shine.

If you have bad credit due to not paying utility bills or not making the minimum monthly payments on your credit card bill or for any other reason, you might not be able to get the loan you want in an emergency. If your application for the loan has been declined, it might be due to bad credit score. If you’re not aware of your credit score, get it for free from a credit reporting agency.

In such situations, no credit check loans by Cash Smart can be of great help.

What Are No Credit Check Loans?

Do you want a loan now but without any credit check? Try Cash Smart today. Cash Smart is one of Australia’s leading cash loan company that offers loans ranging from $300-$5000 with repayment periods of up to 6 months. Application process is extremely easy. Everything is done online. You just need to apply and get approved, and get cash straight in your bank account.

As the name suggests, a no credit check loan is a loan where the lender won’t ask for your credit report from the credit bureau. When you apply for any kind of loan, most lenders make a credit check by requesting your credit history from a credit bureau. However, in case of no credit check loans, your credit report won’t be requested by the lender to check your borrowing history.

However, it does not mean that the loan won’t be listed on your credit file. This loan is going to be there on your credit file even though your credit report won’t be checked by the lender. Simply put, the lender will inform the credit bureau about your loan. In case your loan application is approved, you will also find this credit account on your credit history.

You will have to provide your bank statements for the last 3 months. The lender needs your banking history to ensure that you are right person for the loan. By checking your banking history, the lenders can check your expenses, your income and whether there are any issues that could hamper repayments.

You will also need to ensure that you have some consistent source of income. The lender needs to ensure that you will be able to pay the loan back and for this, you will need to provide some evidence of your income.

Is the Loan guaranteed?

Nobody can ever give a guarantee for approval of a loan. However, it does not mean that you are unlikely to get approved for a loan in case you have bad credit. When you apply for a loan with no credit check, the lender can still approve based on your employment history, bank statement as well as your income levels. Some lenders like to focus on the credit history of the applicant to approve or deny their loan application but there are also lenders such as Cash Smart that make use of your employment history and your bank statements to determine your eligibility for a loan.

You should never refrain from applying for a loan only because you have a bad credit score. Lenders that offer loans with no credit check have introduced these products to help people like you in times of emergency. If you have a history of employment and your bank statement clearly shows that history including regular income and expenses, you will most likely be approved for the loan.

Another important thing you need to keep in mind is that nobody can guarantee a loan. In case you see an advertisement or claim that promises guaranteed approval, you should stay away from them. There are quite a few unscrupulous individuals in this industry. Stay away from them.

Don’t worry about your credit score. Lenders such as Cash Smart base their decision on your bank statements, employment status as well as your income instead of relying on your credit history. So, apply for a no credit check loan today in case you need money quickly.

Who Is Eligible for No Credit Check Loans?

If you’re wondering about the eligibility to apply for a loan with no credit check, here is what you need to know when you apply for a Cash Smart no credit check loan.

  • You need to be a legal adult which means you need to be above the age of 18.
  • Only individuals who are either a permanent resident in Australia or are an Australian citizen have the eligibility to apply.
  • You need to have a weekly income of at least $400. Cash Smart is a responsible lender and wants to ensure that you have the ability to repay the loan even though circumstances have forced you to have a bad credit history.
  • You will need an active personal bank account as you will need to provide bank statements for at least the last 3 months.
  • An active bank account is needed as all the funds will be credited directly into the bank account.
  • It’s important for you to demonstrate that you can afford the repayments.

Simply put, most people are eligible for applying for these loans. If you have any kind of income which could be a benefit, pension or wage, and that goes straight into your bank account, you are eligible to apply.

Application process

Application process is extremely easy and completely safe. It will take only a few minutes to complete the application form and provide the required information.

Cash Smart does not require extensive documentation for loans up to $5000. You will only need to verify your identity and establish that you have the necessary income to repay the loan. Once you apply, your loan application will be processed quickly and if you are found eligible, you will get money directly into your bank account. This process does not take long and you won’t have to wait for days to get the funds.

You can apply for a no credit check loan for almost any purpose. Whether you need money for wedding expenses or emergency car repairs or unpaid utility bills or unexpected medical expenses or any other reason, you should apply for the loan and get money immediately in your bank account.

What Information is needed to Apply for the Loan?

You will need to provide some basic personal information to verify your identity. In addition, you should also be ready with your bank account details and your bank account statement in order to speed up the process. Here is what you will need in order to complete the online application form easily.

You will need to provide a reason for your loan application. As established earlier, you can apply for a loan for almost any purpose.

You will also need to provide your bank account statement for at least the last 3 months. It is necessary to establish that you have a consistent source of income.

Be ready with your personal details such as your name, telephone numbers, address and other such things.

You should also be ready with your current employment details as these are needed to establish that you have a source of income to repay the loan on time.

You will also need to have a personal bank account. This is where the money will be transferred in case your loan application is approved.

For identity verification, 100 points of ID is required.

If needed, you will also need to provide My Gov details for the Centrelink information.

How Long Does the Approval Process Take?

Almost everything is automated which means you won’t have to wait long. The assessment process starts as soon as you provide the required information. The lender will review the loan application on the same day. After assessing the application, the lender should contact you by email or text in order to tell you about the approval. In case your loan application is approved, the approved loan amount will be credited directly to your personal bank account, and you can use that money immediately.

You will also get details about the repayment process including the frequency of repayment as well as all the other details regarding cost of the loan. The only thing you need to do is to make sure that you make the repayments as detailed in the contract.

Cost of a No Credit Check Required Loan

One thing where Cash Smart stands out from other lenders in this industry is their adherence to complete transparency and customer support. They are completely transparent about their costs. Also, there are absolutely no penalties for making early repayments in case you would like to settle your debt early.

In case of Cash Smart, the repayment period is stretched over 4 to 24 weeks, depending on the amount and other factors in your loan application. You will also need to pay a 20% establishment fee on the loan amount. The monthly fee comes to 4%.

Are There Any Charges for Repayment Defaults?

It’s important to repay your loan as per the established schedule in the contract. Most lenders will ask you to pay a dishonour fee in case you are not able to make the repayments on time. In case of Cash Smart, the dishonour fee is currently $ 20. You should get in touch with the lender in case you feel that you won’t be able to make the payment on time as you might be able to work out something with the lender and save some money.

The Complete Process of No Credit Check Loan

In order to make it easy for you to apply for a loan with no credit check, here is how everything works.

You begin by filling out the online application form. Make sure you provide all the required information. Once you are sure that everything that is needed has been provided by you, hit the submit button in order to submit your application.

Once your application has been submitted, the lending team will start reviewing your application. In case you are approved for the loan, the lender will inform you by text or email. You will also be provided with the details of the loan contract which you will need to read and sign. You just need to return the signed contract in case you are happy with the contract details and once that is submitted, you should get a cash transfer into your bank account.

Call Cash Smart Now

In case you need cash for any purpose, apply for a no credit check loan with Cash Smart today. If you need emergency car repairs or you need money to buy medications or you just want a cash boost for a weekend holiday or you need money for any other reason, get in touch with Cash Smart today to get the required emergency cash boost now.