If you want to apply for a loan from a bank, you can go wrong by filling out the form. In some cases, information or small additional information about the financial situation of the applicant can be decisive for the loan approval.
In order to increase the chances of your request being approved, there are a few things you should consider. You should also know which points the lenders take a closer look at and how they evaluate your loan application.
This is how banks work
Lenders scrutinize every loan request very carefully, as it is usually a lot of money. It is understandable that they do not want to lend this without security. In principle, two types of checks are used: the credit check and the budget check. The latter evaluates your ability to pay monthly installments.
Your expenses are compared to your earnings in order to calculate the available monthly margin. This procedure is prescribed in the Swiss Consumer Credit Act. During the credit check, your will is assessed to meet the contractually agreed claims. Your payment habits are analyzed using statistical models and a debt enforcement report is requested.
Filling out the loan application – you should pay attention to this
Since the banks do not carelessly approve a loan, you should process your loan request carefully and conscientiously. Our many years of experience have shown us that the following credit tips can lead to the desired success:
All income must be proven. Have your current employer provide you with a written wage statement that you keep in a safe place. This also applies to the sideline.
Add up all possible earnings for your application. Another applicant, like the spouse, significantly increases the chances of getting a loan.
Make your loan application only at a time when you are in a permanent employment contract.
The majority of credit providers require a permanent employment relationship of at least three months. For this reason, it is advisable to apply after passing the trial period.
Good payment behavior increases your chances of getting a loan. You should, therefore, pay all payment card and credit bills (at least the minimum amount) on time.
Request from the issuer of your payment and credit cards that any arrears codes will be deleted from the credit databases as soon as you have fulfilled your financial obligations.
Apply for a loan before debt enforcement
Every loan refusal has an adverse effect on further checks. You should, therefore, process your documents as convincingly as possible and only work with reputable credit intermediaries. They search for a suitable offer for you without destroying your creditworthiness through rejected applications. If your loan request has no prospect of success at the moment, you should not present it.
Previous installment loans have an impact on your current credit rating. Those who always met their payment obligations on time are now rewarded for their good payment behavior. However, unreliable behavior has a negative impact on creditworthiness.
Credit banks value contact information such as home and business phone numbers and email addresses.
Banks like stability when it comes to credit checks. This applies in particular to moving behavior and changing jobs. The longer you live or work in one place, the more positive your credit rating is.