It is a myth that banks require a lot of documents from their clients in every loan. Whether it is a cash loan, consolidation loan or a customer’s application for a credit card, banks are able to grant a loan based on the customer’s identity card alone. In which bank is it best to get a loan without unnecessary formalities ? Which bank will not request income documents from us? We will try to briefly discuss the issue of proof loans.
Importantly, the data we provide, such as income or maintenance costs, will not be verified by the bank. There will be no phone call to the employer with questions about income or the duration of the contract we work on. A loan for a statement seems to be a good and quick option for getting a cash injection. How is it really We invite you to read.
Loan amounts per statement
The analysis of the offers of several major Polish banks illustrates a very wide range of available amounts. The amounts possible to obtain in the offer for the statement start from 1000 USD spread over even 96 months up to 120 thousand USD , for a period of 144 months. What do the levels of amounts available to the customer depend on?
The main factor proving the possibility of crediting a customer is the dependence whether the customer is a “foreign” customer or a customer of the bank where he applies for a loan.
A new customer who has not previously dealt with a bank in which he applies for a loan.
This category of clients is treated at least, banks do not have much trust in clients. They want to secure themselves by demanding income documents from him. Offers that they can propose on the proof are USD 1000 to USD 15,000. Amounts of USD 1-4 thousand will be available to non-scoring clients (those who have no loan repayment history in their credit history). Amounts 4-15 thousand are offers for customers who can boast of a good history at BIK. It means a minimum of 6 months of regular payments of other bank installments.
On this basis, the bank is able to trust the customer by providing slightly higher amounts.
Own customer with a bank account or credit product.
In this category we can see even larger ranges in terms of offer levels. They range from 1000 dollar to even 120 thousand dollar. What determines the amount the bank will be able to grant us based on the identity card itself? The answer is not easy because it would have to take into account hundreds of different factors that banks take into account. Factors that can definitely have the greatest impact will be:
The current account in the bank where we apply for a loan and on it:
- Regular receipts from the employer
- The turnover we generate
- Visible payments for non-bank loans (negative impact)
- Regular payment of bills, taxes
- Emergence of risky transactions (e.g. bank refusal due to regular client transfers to online casinos)
Cash loan, credit card
In this case, banks distinguish several customer confidence thresholds. If the customer has repaid a minimum of 6 loan installments, or has a credit card from 6 months, the customer falls into the 3rd group. If he repays over 12 installments in a 2nd group. Above 24 installments is the 3rd group.
It will be logical that the longer the customer’s relationship with the bank, the greater the level of trust. In group 3, customers based on the identity card alone, without any income documents will receive offers up to USD 25,000, in group 2 up to USD 50-65 thousand, depending on the bank.
The best customers with the longest relationship with the bank can count on large offers of loans based on the statement. They can be amounts up to USD 120,000.
What if the employer does not issue a certificate of employment and income?
Many customers are in a spot when they hear from their employer that they do not issue employment certificates. Half poverty if the customer gets paid by bank transfer from the employer. Then, based on them, the customer can easily get a loan. What if there are no transfers or a certificate? That’s when the loan for the statement remains . Even if the employer is not able to confirm the employee’s income by phone, this is not an obstacle. Loans are granted only on the basis of the client’s identity card and his good credit history in BIK.
Why a loan for a statement?
Why do we observe such high interest in loans based on the statement? Does each of us have a problem with obtaining income documents? No, we’re just comfortable. We value simplicity and speed, and these are bank loans based on the statement. All you need is 20 minutes in a bank branch and we leave with a loan. All you need is a few minutes of conversation with the broker, and we can sign the loan on the same day.
These advantages are the prevailing factors that increase interest in this form of bank lending. Although loans for the statement are slightly more expensive than those granted on income documents.
Verification of clients in loans based on the statement
Loans obtained on the basis of proof, i.e. loans based on a statement, break out of the standard banking verification formula. There is no completing of income documents such as certificates from the employer, the last 3 transfers or even a certificate from the Social Insurance Institution. A phone call to the client with precise questions about his financial situation and maintenance costs also does not take place.
After all, the bank will not make a phone call to the employer with questions about income or questions since when the employee is employed. This form of verification helps significantly speed up the process of granting loans . The only thing that is verified is the client’s situation in BIK, BIG, KRD. The clean situation in these 3 bases allows you to trust the customer enough to be able to provide financing.
What should the funds from the loan be used for?
The answer is very simple, whatever we want. The loan for the declaration is not a special purpose loan. There is no specific purpose. It is an ordinary cash loan and it is the customer who decides how to use it. Whether it is a renovation of a flat or a vacation with the family, it does not matter to the bank.
An exception to this rule are loans for the statement obtained for the purchase of equipment. Then the customer allocates the funds obtained from the loan to purchase specific equipment.