Do not be afraid of borrowing – it’s that easy

Do not be afraid of borrowing – it’s that easy

Of course, if a bank lends you money in the form of a personal loan sure approval, it obviously has an interest in getting the borrowed money back as well. To be able to assess this probability correctly the bank checks all credit-related information before signing the contract. With this so called credit check your bank assesses whether you are creditworthy. For this it is essential that the bank takes a careful look at your personal financial situation. Which current revenue is related to which current expenditure? What is your financial situation? Is your financial situation in proportion to the amount of your desired loan? You must provide your income and expenses in the form of bank statements or salary statements.

Compare offers online

Compare offers with an online loan calculator. By specifying the amount of the loan and the desired term you can compare many offers for free and find the right loan for you.

Complete application form

In order for the provider to be able to create a tailor-made offer this requires some information. To do this go to the provider’s website, fill out the non-binding online application form and send it to the lender.

Bank checks details

The lender now checks your details and collects information about your credit rating. Then you will receive the credit decision either online or by mail / post. If the bank agrees to the loan request then you will also receive the contract documents immediately.

Sign contract

Now you just have to sign the contract. But watch out before you pull the pin. You should read the contract carefully. Then send this signed to the bank.

Legitimation check

To confirm their identity and clarify any open questions invite some providers to the bank branch for a personal appointment. Alternatively, you can also use the safest procedure with many providers.

Conclusion:Is checking documents are necessary?

At any time you have the opportunity to obtain information about the scoring. If you wish, the bank will provide you with the data types used and tell you you’re score and its significance. If you do not receive a loan offer this does not mean that you generally have a bad credit rating. It just means that you cannot make a suitable offer at the present time. Whether for the new car, the chic home furnishings or the installation of new windows in the home the savings is not enough. Because one thing is clear, nobody wants to make a mistake here and definitely choose the right loan offer. However, to make a good choice you should pay a lot of attention before signing any financial documents.