Every now and then ads with attractive loans or credits appear. The institutions encourage us to cooperate, but each of us has a different financial situation. This means that we will have a different amount and conditions available. Can you check it somehow?
When we decide to take a loan, we usually know exactly what it will be used for and how much money will be needed. However, banks take into account many factors, and the fact that the application will be submitted by people whose material status at first glance looks the same is not synonymous, but they will get exactly the same conditions. No wonder that the question is asked so often, how much credit will I get?
Will I get a loan?
Banks have to comply with very strict provisions of the Banking Law, and one of their mandatory activities is thorough client verification. The fact that we need money and make an application is not clear, but we will get a positive decision. The first question should not be whether I will get a loan, but what creditworthiness is, because it depends a lot on it.
The concept of creditworthiness means the ability to pay installments regularly. To verify it, the bank looks at our income and what we have regular expenses. Free funds are important, i.e. how much money we have left after we settle all our monthly obligations. Half the salary is a safe buffer.
Another factor that is very important and often decisive is creditworthiness. A bank employee will check in the debtors’ bases whether we have any outstanding obligations. What our payments looked like in the past. If you want to apply for a loan, it is better to check whether you are in arrears, even with a telephone bill. If it turns out that our history in BIK is negative, for the bank we lose credibility and we may not get credit at all. Purchases in installments or commitments, which we always pay on time, will speak in our favor. This type of information in BIK can help us. Thinking about how to check if I get a loan first, what we should do is just look into the debtors’ bases.
Conditions for obtaining a loan
Each of us has different needs and needs money for a different purpose. Based on our needs, we will be interested in a different type of loan. The easiest way is with a cash loan. He has the least formalities with him. Often, you only need an ID document and an income certificate. On the other hand, there are more formal requirements for loans with large amounts of money, such as a mortgage.
There is no shortage of situations when customers leave the bank with a pass. Just because we don’t get support at the bank doesn’t mean we can’t get it elsewhere. Loan companies are reaching out with a helping hand. They operate on the basis of the Civil Code, so they do not have to check us so much. Yes, we have to prove creditworthiness, but the requirements will not be as stringent. Also, if we are looking for money quickly, the good news is that the verification procedure at non-bank loan companies is express.
How to estimate the loan amount?
Banks are reluctant to share how they verify creditworthiness, which is crucial. We will definitely get a larger amount with higher incomes, regularly paid commitments and we don’t use a credit card. A higher sum, so they will not be such a burden to the budget, and thus it will be easier for us to pay back.
In addition, marriages will have a higher credit rating. This is due to several reasons. First of all, the bank has a lot of security. There are two people working, so if one of them loses their job, the other will pay the installment. In addition, two salaries give a much higher amount than one, and this means that more money can be paid, so the installment itself can also be higher.
Where can I check it?
Every request for a bank loan leaves a trace in BIK. If we submit an application to several banks at the same time, each entry in the BIK reduces our ability. So it’s not worth risking and better assessing it yourself before we visit the first bank. We must take into account all the factors above. Thanks to this, we will improve your credit standing effectively. In addition, there are many different calculators on the network that can also be helpful. Depending on the tool, other parameters are entered. It will not be adding the same amount that the bank will give later, but it gives a certain overview of what we can expect from a visit to the bank.
In addition, if we know that we will need money and more, it is worth using the help of a financial advisor. Finance specialists know exactly what matters when considering loan applications, what can be changed and what options we will have. They also know how to reach the most attractive offers of financial institutions without having to enter their name in BIK.