Certainly, people who have already used the banks’ offer know perfectly well what documents are required to be able to apply for a cash loan. However, for potential borrowers who have not yet dealt with banking products, it is worth mentioning what documents are necessary to start their efforts to obtain funds.
In more and more cases, a preliminary decision on granting a loan can be obtained after completing the appropriate form and sending it electronically, however, a visit to the bank, along with specific documents, will probably be recommended in the further verification process.
Identity card first and foremost
It is certainly not revealing that you need an ID card to take out a loan. On its basis, the identity of the bank’s customer is determined, as well as thanks to the data placed on it, the credit history is examined.
Usually, the first stage of client verification is checking entries about him in a Credit Checker. Of course, in this case, an ID card is necessary. Similarly, if you do not have an account in a given bank, and to obtain a loan in it, you will be required to open an account.
Income statement or statement
Another aspect verified when applying for a loan is the amount of income. The easiest way to check what funds a particular person receives each month is to request a certificate from the workplace.
In this letter, the employer specifies the amount of remuneration, as well as the type of work performed by the employee, and the period for which the contract is based. In fact, people with an unlimited employment contract are in the best position.
The problem looks a bit different in the case of people working on a specific work contract or work contract. Sometimes in their case, it is permissible to grant a loan, based on a statement, which they draw up independently, giving in it the amount of remuneration received for work, as well as information about persons ordering work.
Loans based on a bank statement are becoming more and more popular in our country. How it’s working? The potential borrower must provide the bank with an appropriate printout confirming the operations carried out on his account for the last 90 days, i.e. 3 months. Of course, this type of information will only be required if you intend to apply for a loan at a bank other than the one where you have a savings account. The higher and more regular the cash inflows will be on the statement we present, the more likely we will get a loan.
In summary, the documents listed above are usually sufficient proof of creditworthiness that will allow you to receive financial support from a bank or other financial institution. In the case of products such as a senior loan or student loan, you will certainly be required to receive a disability pension decision as well as a university certificate confirming your student status. Similarly, if you apply for a mortgage.
Then the borrower will have to present an excerpt from the land and mortgage register and other certificates regarding the right of ownership in relation to a specific property. However, these are quite specific types of financial products and they are far less often used than typical consumer loans.