Anyone who wants to fulfill a wish or has a financial bottleneck, can help with a loan remedy. However, some requirements must be met to obtain credit from a bank.
Conditions for a bank loan
In order to obtain a loan from a bank, various conditions must be met. First, the borrower must be of age and full legal capacity. Banks are connected to the private credit and start with the loan application first a private credit query. If this turns out to be positive and the customer also has a good scoring value, nothing stands in the way of a loan. So it is usually a condition that the borrower must have a permanent employment. Banks require the last three pay slips and possibly a contract of employment. The amount of the loan depends on the income. It is important that the so-called “deductible” less the running costs must be so large that the loan can be removed. For this reason, banks often require “self-disclosure” in which creditors face revenue and expenditure. Banks have a so-called “duty of care” vis-à-vis borrowers and are not allowed to provide credit sums that put creditors in existential distress. In addition to the salary statement, the identity card is usually required. It may also be that the loan amount is paid through a separate account. Banks also offer loans online, which is why it is not always necessary to go to the bank.
If a potential borrower does not have a positive credit rating, banks also offer credit if a solvent guarantor can be provided. The guarantor guarantees that the loan will be repaid in case the actual borrower can no longer pay the installments. In addition to the guarantor, collateral is also available, with which banks reduce the risk of default. The Internet also offers small loans to people who have low income themselves. Also in this case it is necessary to put a guarantor. Even loans without private credit entry are available on the Internet. Loans are granted for these types of loans without a private credit request being started. Also, the credit is not recorded at the private credit. Another form of online loans is the training loan, which allows a loan even with a small salary.