Almost every bank allows you to apply for a loan remotely. It is very convenient: you do not need to waste time visiting the office, standing in line and collecting documents. You just need to fill out the form on the website and get a decision.
What to write in an online application and what information the lender is most interested in - we tell you in the article.
What do banks check before making a decision?
As a rule, each bank has its own system for reviewing credit applications. For these purposes, a scoring model based on numerical statistical methods is usually used, which evaluates the client automatically. It analyzes various criteria and assigns a certain number of points to the borrower. The higher the result, the more likely it is to be approved.
To prevent fraudsters from finding loopholes in the slovenia mobile database system, lenders do not disclose the principles of the scoring models. However, there are several generally accepted criteria that are checked in any case when making a decision on an application. Among them:
Credit history. This is the first thing the lender checks. To do this, the bank submits a request to the credit history bureau, where information about the client's closed and current obligations - loans, credits and credit cards - is stored. The borrower's payment discipline, frequency of requests to credit institutions, and number of refusals are assessed.
Solvency. If your credit history is OK, your application may be approved, but before that, the bank must make sure that the borrower's income is sufficient to repay the loan. The lender checks the amount of monthly income and evaluates the client's income-to-expense ratio. Obligations on other loans are also taken into account.
The accuracy of the data specified in the application form. Not only the passport details and registration are checked, but also contact information, information about the employer, work experience, marital status. Therefore, before submitting an application, you need to check whether everything is correct.