SUBMITTING A CREDIT APPLICATION
As we said, to start the loan granting process, a potential borrower must apply to the bank for a loan. Credit is granted on request, which must contain a number of information. These messages are needed for the bank to decide whether the loan will be granted to the applicant. In addition, the application is also information for the bank what the client expects and whether his funds and collateral are sufficient or whether the bank will issue another maximum amount of loan amount possible to obtain or declare that give credit at all.
ELEMENTS OF THE CREDIT APPLICATION :
AMOUNT AND PURPOSE OF THE CREDIT
In particular, the loan application must contain information such as the amount you want to borrow from the bank and for what purpose we intend to spend the amount of money obtained.
FINANCIAL POSITION OF THE POTENTIAL CREDIT
We must also include information about our financial situation in the loan application. It is mainly about providing information about our employment, i.e. based on what contract we are employed, or whether we work at all. If we work, we also have an obligation to present our earnings. Most often, we apply to the employer with the application (each bank has its own model) to confirm our earnings from the last 3 or 6 months and even up to 1 year. In the case of a bank where we already have an account and the salary is received by this account, an account statement to which the bank will have access may be sufficient. The higher the amount of loan you want to apply for, the more detailed and reliable the information is. While in the case of 1 or 2 thousand The bank account statement will be sufficient in the case of amounts of several dozen or several hundred thousand zlotys. The bank will certainly require us to present a contract of employment together with the confirmation of our earnings by the employer. In addition to the type of contract, its period is also important. Of course, it’s best if the employment contract is for an indefinite period.
HEIGHT OF DEBT
In addition, we must also indicate our current indebtedness. This is primarily about other loans and loans. Our monthly total fixed expenditure is also important. Thus, not only the installments of other loans and other obligations such as flat fees. Thanks to this, it will be possible to determine if we will have to pay off the loan. It may turn out that despite high earnings we have such expenses (fees plus previous loans and credits) that the bank will determine that the next loan installment will certainly exceed our capabilities.
CREDIT PERIOD AND REPAIRMENT DATES
The loan application should also specify the loan period and repayment dates. The bank may or may not agree to our offer. However, due to the fact that we are applying for a loan, we present our needs.
Applying for a loan, we also indicate what form of loan security we would like to choose.