How to Get a Loan Without a Bank Account

Written by stephanie mojica
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Many personal loan options are only available to people with some kind of bank account, whether checking or savings. Some credit card companies won't loan to people without a bank account. However, there are ways to get loans without a bank account, though the options will be somewhat limited, and flexibility will be required. Whether you need a car, furniture, or cash for a vacation or financial need, you can likely get some kind of financing, regardless of bank account status.

Skill level:
Moderately Challenging


  1. 1

    Visit the website of finance company American General (see Resources) for personal loans that do not require evidence of an active savings or current account. American General works with people with good and bad credit, and does not charge excessive interest rates as some finance companies do. Fill out the online loan application honestly and completely, providing required data such as your full name, address history, Social Security number, birth date, and employment information.

  2. 2

    Visit a local furniture store if you would like to buy furniture and other household goods, but do not have a bank account. Most furniture stores have flexible financing opportunities and on-the-spot decisions and do not require any proof of a checking or savings account. In addition, most will not require a down payment, even if you have bad credit. Proof of residence and employment is a must when seeking such a loan.

  3. 3

    Visit a local auto dealership if you need a loan to purchase a new or used car. Rarely does a car dealer require proof of a bank account to make a loan. Remember that even if you have bad credit, with a cash down payment of at least £650, you can probably get a car loan from a reputable dealer. In addition, all car loans tend to require documentation of residence and proof of stable employment and income.

  4. 4

    Visit a local auto title lender as a last resort if you absolutely need money and do not have a valid bank account. You must have the title of a paid-off vehicle, and will be loaned funds based on the value of your vehicle and income. These loans are not allowed in every state. Remember that these companies usually can charge interest fees well over 36 per cent. In addition, auto title borrowers run the risk of having their car repossessed if they cannot pay the loan---even if the loan is much less than the value of the vehicle.

Tips and warnings

  • Remember that many banks do issue savings accounts to people regardless of credit. You might want to consider getting one to expand your borrowing options.

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