How important income proof is?

How important income proof is?

28 Dec, 2020

The basic requirements needed for applying for personal loans

When applying for personal loans at banks or personal loan companies, three basic documents are required, including Hong Kong Identity Card, income proof (bank statements or pay advices issued by employers) and mailed address proof. The chance of drawing down personal loans is high if the documents are well prepared and TransUnion Report is good.

From the perspective of banks or traditional personal loan companies, income proof is crucial for evaluating the applicants’ ability in repaying the loan, which explains why most of the banks or personal loan companies determine the loan amount based on income proof.

The basic requirements needed for applying for personal loans

Bank Loans: Less Documents required

Technology advancement leads to increasing popularity of online loan. Some of the local banks have introduced easy loan, allowing customers submit fewer documents, such as Hong Kong Identity Card and Address Proof, on the premise of having active bank account at the banks where you have applied the loan. However, income proofs are still compulsory and you are advised to submit pay advices issued by employers even if you don’t have bank payroll records. Even so, the credibility of payroll records issued by banks are often doubted by the banks, as there isn’t a well-recognized standard among all companies.

Paying salaries in cash

COVID-19 has adversely affected us in different perspectives for almost a year, and it is expected to continuously affect all industries to different extents for a certain period of time: a lot of companies has re-arranged their salary payable date or re-adjusted the amount of salary payable amount, and some of them will even lay off employees. As the revenues of the companies was negatively affected, the corporate cash flows were also affected, leading to salary payment in cash. Because of this, payroll records of many employees cannot be checked.


Of course, many locals are either currently being paid in cash or employed without fixed employers, e.g. construction workers, part-time workers and freelancers. If these people applied for personal loans at banks or personal loan companies for immediate cash, their loan applications will be rejected due to absence of income proof. How sad and ridiculous it is! The problem will become more serious if the cash problem was not solved.

No Income Proof Loan offered by Cashing Pro

Cashing Pro understands current situation faced by people whose salary are paid in cash or salaries are unfixed, which is why we offer no income proof loan: any income proof documents, including pay advices issued by employers and bank payroll records, are not required and customers can borrow money easily. All we need for applying no income proof loan are copy of Hong Kong Identity Card, mailed address proof in the last 3 months, e.g. electricity bill, rates and bank statements, and bank account transaction records.

3 Features of Cashing Pro’s No Income Proof Loan

  1. Simple loan application procedures
  2. No Income Proof Documents are required (customers whose salaries are paid in cash can apply as long as pay advices issued by employers are provided)
  3. Open for all applications (university students and housewives are also welcomed)
Cashing Pro優尚信貸免入息貸款三大特色

Cashing Pro’s loan application assessment procedures are relatively easier and faster, as applicants are not required to provide income proof documents or check job information. No Income Proof Loan offered by Cashing Pro perfectly suits those who need immediate cash but could not provide bank payroll records. You are welcomed to check Cashing Pro’s No Income Proof Loan for more details. You are also welcomed to contact Cashing Pro.

Warning: You have to repay your loans. Don’t pay any intermediaries.

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