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| *Loan,banking and credit>>>bank loan |
What are the requirements that Banks look for when applying for a personal loan?? I know credit score is one.. |
I know credit score is one factor...what else do you need to have be in their good favor, and thus have the loan approve? 1. Proof of income - steady is better 2. Proof of having other assets, that can guarantee the loan - banck accounts, car, house 3. Proof that you have good history about making payments on time (this gets reflected in your credit score). Collateral... Bank always need collateral coz they think that if you cant pay them, they can get something from you in return.. 1) Your income 2) If you are blacklisted by any other banks 3) Amount of money you loan from the bank 4) And how much you spend watch out if u put up ur house or car to get a loan cause if u do and miss a few payments then they will take ur house and or car and everything in it they wont allow u to get any thing from the house or car so ull lose the house or car and everything in it cause theyll sell everything in it to get back there money plus intrest Modified 1 year ago |
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