Applying for a loan traditionally involves providing a lot of documents including bank statements. But not everyone has statements neatly filed away ready to submit. Not everyone has a regular income with these regular payments into their account to verify their financial position. There are those with non-traditional income sources that don’t appear regularly in their bank accounts.
An individual may have multiple bank accounts with different income sources deposited into different accounts. Making the process of accessing multiple statements arduous and time-consuming.
If you don’t have easy, quick access to your bank statements or you would prefer not to provide them for a loan application, or are not in a position to do so, you can still apply for a personal loan. We assist these types of customers with our access to lenders that do approve bank statement free loans. And we handle the entire loan application and approval process for you. If you require funds for a wide range of purposes and can’t produce bank statements, speak with one of our brokers for how we may assist you.
The lending sector is constantly evolving with technological advances and the development of new loan products.
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Many advances are in response to changing customer trends. With online access to just about everything, there is a growing popularity for loan approvals with the same quick, straightforward accessibility and without all the paperwork usually required.
Loans may be applied for without financial documentation, known as Low Doc Loans, or without submitting statements yourself.
A trend for personal loans that do not require traditional bank statements has emerged and the lenders are responding with paperless applications. These can be required for people with irregular or non-traditional income or for those that do not have access to their statements or simply do not have the inclination or the resources to download and print them off.
Not all lenders provide loan approval with bank statements. But we have access to non-bank lenders and the technology to make these types of loans possible.
Loans can be approved based on other financials and through providing read-only access to bank accounts so our lenders can check the financial position.
No need for customers to supply the paperwork, simply provide the authorisation, without revealing passwords, for this process to be done digitally.
Alternative documentation loans may be used for a range of purposes including holidays, motor vehicles, general expenses such as medical, repairs and other outgoings. Not all types of loans will be approved without bank statements.
There may be additional conditions included by lenders and a higher rate may apply as an unsecured loan. Applicants will still need to prove income and identity with digital verification and having a good credit score will still be key to a low rate and the best loan offer.
We make the process fast and easy without in-person interviews and without loads of paperwork. Applicants provide us with permission to view their bank transactions online over the past few months.
With our advanced technology, we can carry out that process very quickly and save customers hours of compiling the data themselves.
Loans between $5,000 and $50,000 can be approved without bank statements. Request a quote for a bank statement free personal loan with one of our brokers using our convenient online systems.
Our guides offer quick comparisons and simple explainers to help you breeze through the financing process with confidence.
As specialists in personal lending, we provide customers with access to a wide range of products including non-traditional personal loans – loans without bank statements. These types of loans are not available through all lenders such as banks. But with our access to over 80 lenders including may non-bank lenders, we do have the sources that approve alternative documentation loans. We do the work of matching customer profiles and requirements with the right lender for streamlined processing and application approval.
Key to being able to provide this service are our state-of-the-art financial systems and technology. We have safe and secure systems where, with the permission of the loan applicant, we can quickly view bank statements online. There is no revealing pin numbers or passwords with these processes and systems. We verify the financial position for the application form. Saving you time and a lot of hassle.
Integral to customers being comfortable and prepared to submit this type of application is trust. Customers can be assured that Jade is a licensed credit provider under ASIC, and we adhere to their Responsible Lending Guidelines.
An award-winning finance broker, we have over 25 years of experience in the lending sector, and we are a member of the FBAA. Our systems incorporate the latest security process so customers can apply online with safety.
Submitting an application with us is fast, streamlined and simple. Follow the online prompts to enter the required information and digital documents. Or speak with one of our brokers in person by phone. We are an Australian owned and operated business with our team all located in Australia. Start your application or request a quote.
Before applying for any loan, it can be smart to have a rough idea of what repayments may be involved. While the specific rate you will be offered and approval overall is subject to lender guidelines, customers can use our Personal Loan Calculator to quickly obtain rough estimates for unsecured loans.
For the purposes of obtaining estimates with our calculator, use the rate we are currently displaying for unsecured loans. Rates for unsecured personal loans are typically at variable rates. These rates may change in line with rate fluctuations across the market and for individual lenders.
If the calculator estimate is in line with your affordability expectations, proceed to submit an application or request a quote.
Loans without bank statements can fall into two categories – low doc loans where the applicant does not have 90 days of statements available, and the second type – where permission is provided to us to access read-only bank statements online.
A person may not have extensive documentation due to a range of circumstances. Where this is the case, we have lenders that will approve loans based on proof of income, identity and ability to repay the loan. Jade accepts financial proof with income declarations, invoices submitted by the individual and through tax returns.
Other alternatives may include details of assets owned by the individual and liabilities such as regular bills, other loans and credit card balances. Where income is derived from non-traditional sources, details should be provided.
For more information on the alternatives to bank statements that we accept, please speak with one of our highly experienced brokers.
Easily apply for personal loans without statements with our fast online systems. You will require digital copies of proof of identity and income so have these docs ready to upload. These can include driver licence, Medicare card, Australian passport and similar verification.
To permit us to verify your statements by read-only online technology, you will need to provide us with internet banking details but not your password or PIN.
When all details are uploaded, many applications can be approved in 24 hours. Contact us to get started.
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THE COMPARISON RATE IS CALCULATED ON A SECURED LOAN OF $30,000 FIXED FOR A TERM OF 5 YEARS, NEW GOODS, EFFECTIVE 20/09/2024 AND SUBJECT TO CHANGE. WARNING: THE COMPARISON RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT COMPARISON RATE.
Some lenders will require applicants to provide physical copies of banks statements for verification. Some lenders provide services where access to read-only copies of statements is provided to the lender so no physical copies or uploads are required.
Personal loans without financial statements can be used for a range of purposes including cars, holiday, medical expenses, repairs and general expenses.
The credit profile will be reviewed by lenders for statement-free loan applications. The score and credit history will determine the interest rate offered and any special conditions applying to the loan. Good scores typically attract lower rates and more workable conditions.
Some lenders have the technology which enables loan application approval without applicants having to provide physical copies of bank statements. This is done through secure tech systems which provide the lender with read-only access to the applicant’s bank account to verify statements and financial position.
A loan approved with statements from bank accounts can be a low doc loan or may be a loan approved without the applicant providing physical copies of their statements. With read-only permission provided, lenders verify statements directly.
Personal loans may have fixed or variable interest rates. Unsecured loans typically attract variable interest rates.
As an alternative to statements, applicants may provide income proof, tax returns and declarations of non-traditional income.
A read-only bank statement is where permission is granted to a lender to view a loan applicant’s bank account. The permission is only to read the data. No access is given to transact through the account. No password or PIN is provided to the lender.
Before providing read-only access to accounts to lenders, applicants should confirm the credentials of the lender and be confident in the security of the technology systems used.
To apply for a personal loan, under ASIC regulations, applicants are required to provide proof of identity and income. This can comprise payslips, driver licence, passport and other similar documents.
