As we said, in order to start the loan process the potential borrower must apply to the bank for the loan. The loan is granted upon application, which must contain a range of information. These messages are needed by the bank to decide whether a 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 a different maximum amount of the possible loan amount or states that it is not give credit at all.
ELEMENTS OF LOAN APPLICATION:
AMOUNT AND OBJECTIVE OF THE LOAN
In particular, the loan application must contain information such as the amount you want to borrow from the bank and for what purpose we are going to spend the acquired amount of cash.
FINANCIAL SITUATION OF A POTENTIAL CREDIT
We must also include information about our financial position in the loan application. It is primarily 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 must also present our earnings. Most often we apply to the employer (each bank has its own template) for confirmation of 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 remuneration affects this account, the account statement to which the bank will have access may be sufficient. The higher the loan amount you want to apply for, the more detailed and reliable this information is. As far as in the case of 1 or 2 thous. PLN credit account statement will be sufficient in the case of amounts of several dozen or several hundred thousand. PLN bank will certainly require us to present an employment contract along with confirmation of our earnings by the employer. In addition to the type of contract, the period is also important. Of course, it is best when the employment contract is concluded for an indefinite period.
In addition, we must also indicate our current debt. In this case, it is primarily about other credits and loans. Our monthly total fixed expenditure is also important. Therefore, not only installments of other loans and credits, as well as other liabilities such as housing fees. Thanks to this, it will be possible to determine if we have something to pay back the loan from. It may turn out that despite high earnings we have such expenses (fees plus previous loans and advances) that the bank will state that the next installment of the loan will certainly exceed our capabilities.
LOAN PERIOD AND REPAYMENT DEADLINES
The loan application should also specify the loan period and repayment dates. The bank may or may not agree to our proposal. However, due to the fact that we apply for a loan, we present our needs.
When applying for a loan, we also indicate what form of loan security we would like to choose.