As a rule, no co-applicant is required for a loan. This is the case with spouses at most. Then the loan runs on both partners and everyone is responsible for the repayment. There are many forms of credit. Some can be paid out within 24 hours. Also in this case an instant loan without co-applicants is possible. Clarification at paroiciel.org
When is a co-applicant needed?
If, despite a good Schufa, the financial situation is unclear, the banks want to see a co-applicant. The correct name, however, is guarantor. While this practice is still rarely used today, there are still banks that refuse immediate credit without co-applicants. This should, however, be aware of the consequences, because that has legal consequences.
The risk of being a co-applicant means a high financial risk for the person concerned. If the actual borrower does not pay, the guarantor has to pay for the loan, and that for the entire balance. Therefore, both parties should consider whether to take this risk. Because if it comes to a loan default, the friendship with the guarantor is finished in any case.
What options are available if the bank requires a co-applicant?
If you are looking for a loan without a co-applicant and are rejected by your house bank without it, you can either turn to another branch bank or get information on the internet. Many banks only have a special internet presence and no longer have a branch network. Here is the likelihood of finding a loan without a co-applicant.
For this purpose, only the term must be entered in the search engine and all common comparison portals come to light. The searcher can use the filtering options to list only those banks that grant an instant loan without co-applicants. Other filters include the amount of interest, the terms or the waiver of processing fees.