Loan with just an ID card – reality or scam?

Nowadays, when financial needs can arise unexpectedly – whether for urgent repairs, medical expenses, delayed salary, or another emergency situation – the option to get a loan with just an ID card appears as a convenient and fast solution. This type of loan promises minimal formalities, no unnecessary bureaucracy, and quick access to the needed funds, often within the same day. This makes it especially popular among people without a permanent employment contract or official income, as well as self-employed individuals, students, or pensioners.

However, as with any financial service, potential risks exist. Some companies offering such loans may not be fully transparent about their terms – especially regarding interest rates, repayment deadlines, and additional fees. Furthermore, when proof of income is not required, lenders often offset the risk with higher costs on the loan. This puts consumers in a dilemma: does the convenience justify the potential price?

Therefore, before applying for a loan with just an ID card, it is important to carefully research the different options, read the terms thoroughly, and realistically assess your ability to repay. Online platforms like Trusti.bg can help by offering comparisons between offers from different lenders, allowing users to select the safest and most suitable option according to their needs and capabilities.

What is a loan with just an ID card?

A loan with just an ID card is a type of fast loan distinguished by an extremely simplified application process. For this type of loan, no proof of income, employment contracts, or other documents typically required for consumer loans are necessary. A valid ID card is sufficient – and often within minutes, a decision is made.

This credit product is particularly preferred by people who:

• Work freelance or have irregular income;
• Cannot provide official proof of salary (e.g., pay slips, contracts, tax reports);
• Need quick cash for urgent needs without time for complicated procedures;
• Want to avoid involving guarantors or collateral;
• Have weak or no credit history and would likely be rejected by banks.

In most cases, this type of short-term loan is provided by non-bank financial institutions operating entirely online. This allows clients to apply from anywhere, anytime, without visiting a physical office.

Despite easy access and convenience, loans with just an ID card should not be taken lightly. Due to the higher risk for the lender (lack of information about income and employment), higher interest rates or fees often apply, especially in case of late payments. It is therefore crucial for the borrower to fully understand the loan terms, including:

• Annual Percentage Rate (APR);
• Interest rate;
• Hidden fees (e.g., processing, extension, early repayment fees);
• Consequences of late payment.

Loan with just an ID card – reality or scam?

In short, a loan with just an ID card is a completely real option that can be extremely useful in emergencies, as long as it is used wisely and responsibly. Platforms like Trusti.bg can help make an informed choice by comparing no-document loans from reputable lenders in one place.

Advantages of loans with just an ID card

1. Speed and convenience – Everything is done entirely online, from selecting a lender, through application, to approval and receiving funds. Most often, you can receive a response within 15–30 minutes, and the money is transferred directly to your bank account, sometimes the same day.
2. Minimal requirements – Unlike standard consumer loans, where pay slips, contracts, employer references, and sometimes guarantors are required, here only a valid ID card is needed. Ideal for self-employed people, freelancers, pensioners, temporarily unemployed, those without official income documents, or students.
3. Possibility of interest-free financing for first-time borrowers – Many non-bank companies offer interest-free first loans if repaid within a set period (usually 30 days), allowing you to get instant funds without extra cost.

Potential risks and how to avoid them

1. High interest rates and fees – Due to higher lender risk, APRs may exceed 50–100%, especially in cases of late payment or automatic contract extension.
   • Tip: Compare offers on independent platforms like Trusti.bg to see the real cost and choose lenders with transparent terms.
2. Lack of transparency and hidden conditions – Some lenders may include unclear clauses, small print, automatic renewal, or undisclosed fees.
   • Tip: Check if the lender is registered with the Bulgarian National Bank or part of the Association for Responsible Non-Bank Lending. Request a clear repayment plan.
3. Over-indebtedness and debt accumulation – The simplicity of obtaining these loans can lead to repeated borrowing, late payments, and mounting interest.
   • Tip: Borrow only if necessary and ensure you have a realistic repayment plan. These loans are tools for temporary liquidity, not permanent income.

Loans with just an ID card are a real opportunity for quick financing, especially for people without official income documents. However, caution is essential, and choosing a reliable lender with transparent terms is crucial. Platforms like Trusti.bg can be a valuable tool for comparing offers and finding the best solution for individual needs.

Author: Vasilena Cholakova
Chief Executive Officer

Vasilena Cholakova is the co-founder and CEO of Trusti.bg, with extensive international experience in strategy and data analysis. She led the strategy for Uber Eats in the EMEA region. Before Uber, she worked at Covestor (now Interactive Advisors) and the European Commission. As a contributor to the Trusti.bg blog, she shares knowledge and practical advice on insurance and personal finance.