About Personal Loans With No Bank Accounts Required

Video Transcript

"Hi, this is Matt McKillen with Innovative Financial Group. Question post to me today, are there personal loans out there that don't require bank accounts? Absolutely, there's a lot of finance companies that are in business in different cities, and communities that will actually grant you a loan on a personal basis without having any type of checking or savings account with them. Another avenue also for that is you could use a car title for example. If you have a car free and clear and you want to take a personal loan you can secure the loan with the automobile title and they don't require that you have either a checking or savings or any type of personal bank account with the institution. So what my experience has shown though is that generally those types of loans do have a higher interest rate than perhaps maybe the loan that your bank or credit union would offer you because you have a history of checking and savings, or maybe prior loans from them in the past, or investments like CD's. But there are programs available out there where you can get a personal loan without having to have a bank account. Again my name is Matt McKillen, I'm with Innovative Financial Group."