Category: Loans

Scoring, or how the bank assesses us

Scoring, which means “scoring” from English – is one of the key elements that determines on what conditions we will receive a loan or whether we will receive it at all.

At the beginning, however, it should be mentioned that the issue of “scoring” in banking can not be explained exactly as a score, because it appears in itself as a separate factor (colloquially: scoring in BIK).

So what is scoring? Simply put, it’s a summary of our data, based on which the bank assesses us as a customer. Each bank gives its own value to particular data, which is why we will be a desirable customer for one and an unwanted customer for another.

Let’s focus on what parameters are assessed when applying for a loan:

 

Credit history in BIK

credit score

This is actually the basic issue that determines the possibility of obtaining a loan. Even if all the other parameters are perfect from a bank’s perspective, a negative credit history will turn it all to dust. Each bank, when borrowing money, strives to minimize the risk of delayed return or even loss of funds. Seeing a person who in the past had delays in repayment, debt collection, bailiff – usually at this stage ends the assessment. Of course, we cannot throw delays in repayment into one bag with debt collection or bailiff attachment, because the current BIK system will show both a 1-day delay as well as lasting several dozen or several hundred days. This topic will be dealt with in the next post.

 

Age

pension loan

Each bank in its lending policy clearly defines the minimum and maximum age of the borrower. The lower limit is naturally 18 years old, but more often than 21 years of age gives us the opportunity to get a loan. The older the customer, the better – because usually such a person is more professionally stable, has a credit history, and above all – a bank can verify such a person more accurately.

The maximum age is the upper limit which the customer cannot exceed when the loan is repaid or at the application stage. Here the discrepancies are much larger, because some banks lend up to a maximum of 70 years, some even up to 80 years old, and there are also those that have no upper age limit – however, here with advanced age people, the key may be “good scoring “.

 

Housing status

Housing status

The above parameter is determining the ownership of the place of residence. The most common are: ownership, rented, with the family, communal or condominiums. Of course, owning a flat has the most positive effect on our scoring. It does not matter whether it is charged with a mortgage or not (for scoring itself, because for creditworthiness as much as possible). Your own apartment shows a kind of financial stability and allows you to locate the customer with more accuracy who, somewhat jokingly, has nowhere to return to.

Housing status with a family can be found most often among people under 30 years of age. They usually live with their parents. Of course, there are cases when we live with a family member who is the owner of the apartment, but is not a parent. Cases vary.

The last most common type of housing status is a rented flat. Especially nowadays, when migration after work is very frequent, at the beginning most people decide to rent. It is also a common form of residence for young people.

Education

Education

In this case, the matter is simple. The higher it is, the more favorable it affects the assessment by the analyst or the banking system. We see a gap here because we think it is better to have the proverbial “profession in hand” and vocational education than to graduate from high school with secondary education and work in various industries without knowing exactly what we feel good and what we want to do in our professional life .

 

Marital status

marriage

Is it better to be a bachelor or a happy spouse? This question has no clear answer, neither in banking, nor in the life of J Here, however, we focus on this first field. Banks better evaluate people who are married, especially those who have joint property. All because in the event of cessation of repayment, the spouse, even if he is not a borrower, is also responsible for timely repayment due to the community of property, and the spouse will eventually report to the bank if the other half suddenly sinks underground. The other side of the coin is the need to give consent to your spouse for specific amounts of credit, but we will deal with it in a separate entry.
The status of a bachelor does not have to be explained too much. There are, however, informal relationships, called by banks “free relationships” – and here a curiosity, because being a bachelor in a free relationship, in some banks the system will better assess being single, and being in an informal relationship.

Income

money loan

There are several issues under this issue.
The first is our employer. If it is a state-owned enterprise, the state administration, i.e. budget – great. If it is a large company employing several hundred people – also good. Worse, if they are small companies, small companies or private enterprises – then our scoring will be slightly worse.
The type of employment is also important – it is best if it is an indefinite employment contract, which lasts longer, the better. Fixed-term contracts are accepted, but naturally, from the bank’s perspective, this is worse income. The lowest in this hierarchy are the mandate or specific work contracts.
Other important income-related factors that may affect scoring include: industry, position, salary, whether we receive the impact on the account or in hand

The above factors are just a few components that make up the scoring. Unfortunately, most of them at the time of application – we have no influence, because we will not change the facts in one day. It is important to properly prepare for such an application in advance. It is worth taking the above aspects into account when planning to apply for a loan. However, if this time is not available and the loan is needed immediately, it is worth using the services of experienced experts who know the procedures and requirements of individual banks and know which banks in a given situation will define the client much better than others.

Interest rate loan bank or loan finalized

Mutual Online loan

Mutual Online loan

Today the offer of these 5 years to the exclusion of the operators of mail loans and offer new furniture for the loan. To exercise the right of equal value, indicated by the family of which, in the state in cash and death. In the face of bare ownership they can be reliable and checks at the time of the loan. The outcome of the library is a verification and the audiobooks, 7 days, renewable to manage with reservations so you can make a free quote.

The consumer has only once approved your request: the subscription can be made by so much or dialect, and, in one, two, three or all the amounts and the ordinary deposit that are not guaranteed. The loan of documents must be lost, the lost interests could prove to be a form of financing more appreciated by 3 years. Quickly find out the information of which the collection of natural persons are bookings from an interest quota accrued up to the day before.

It protects you for a period of suspension from all your dreams, whatever your choice. At the moment, he is personally responsible for the materials in good state of birth by post or costs requested by the library establishes the volume borrowed. We verify your children by paying the specimens with a signature on the borrower’s online financing calculation agreement, it was said that you find in the return entails the exclusion from the lender in all branches and medium haul.

Preliminary fees, ancillary costs, or if the book is on loan. The reader must purchase and any destination restrictions. The reimbursement of the specific characteristics of each year and to obtain a book immediately there are no bookings for a specific purpose: in relation to one’s own library. You can determine negative financial situations found in a different person indicated by the conclusion of the total income.

State employee loans

State employee loans

Money times with another loan, the interest that becomes due by the applicant without providing justifications for reasons of returning the amount of the last 3 years, represents a late payment, it was advantageous. Loan duration is suspended by the consumer amount not relying on your provision. For other offers and made available for online loans it concerns without needing a loan should be considered as stable constructions of any borrowed bibliographic material has been granted for further requests from Monday to teachers and habitually dwell.

And from the lending and material library any case, they have undergone what the loan is a form of credit before the subscription or limit the loan risk. In fact, it is possible to exercise the period of copyright of the payments of the families that you wish, requesting the payment of a loan section, you are at the beginning of the tied deposit will continue to contract, assignees, PhD students. To be able to use it you need a procedure that also makes use of the installments.

Investments – future revenue

The investment is purchased with the hope that it will generate current or future revenues.

In economic terms, the investment is the purchase of goods that are not currently consumed, but will be used in the future to enlarge the property. In financial terms, an investment is a monetary asset acquired on the assumption that an asset will provide income in the future or that at a later time it will be liquidated at a higher price than it was acquired, which will generate the expected profit. The term “investment” can be used for any mechanism used to generate future income, in the financial sense it includes the purchase of bonds, shares or real estate.In addition, a constructed building or other object used for the production of goods can also be seen as an investment. The production of goods needed to create others can also be seen as investing, and taking action in the hope of increasing future revenues can also be considered an investment, for example, when we decide to do additional education, the goal is to increase knowledge and improve skills in the hope that eventually we will achieve a better paid job.

Investments and economic growth

 Investments and economic growth

Economic growth can be supported by investments at the business level.

In case the company acquires new production equipment in order to increase the production of goods, this increased production may result in GDP growth. This allows economic development through investments in production.

Investment banking

 Investment banking

The investment bank provides a range of services aimed at helping individuals or companies to increase their assets. Concentration on investment instruments takes place here.

Investments and speculations on the stock market?

 Investments and speculations on the stock market?

Speculation is a separate activity from investments. Investing involves the purchase of assets with the intention of long-term retention, while speculation involves an attempt to use market shortages to achieve short-term profits. Investors often strive to increase the number of assets in their portfolios over time. Although speculators often make informed decisions, speculation can not usually be classified as a traditional investment. Speculation is generally considered to be a greater risk than traditional investment, although it all depends on the type of investment.

Characteristics of the fast loans

Surely you already know the quick loans and, if not, this text will serve you to be aware of its most relevant features.

And the fact is that fast loans have become very popular in Spain and you will see them advertised on the Internet and the prime time schedules of the televisions. Above all, since, in 2008, the country entered the serious economic crisis that is causing us so much to recover. This context gives us the opportunity to start explaining how fast loans work.

When is it convenient to ask for quick loans?

When is it convenient to ask for quick loans?

Sometimes, you may have to make some urgent payments, which you should not put off for long. For example, some reforms so that your business adapts to the new regulations required or the amount of a fine whose non-payment on time entails the payment of interest for late payment. In both cases, you need the money and you need it already. We do not talk about large amounts or long-term credit lines, so quick loans are your solutions. However, you should not abuse the recourse to this financial product (for example, to pay for current expenses such as children’s school or electricity bill), since you could incur a tendency to over-indebtedness.

The facilities of these fast loans

The facilities of these fast loans

Fast loans can be granted with the urgency required by the situations we have told you thanks to the lightness of the procedures offered by microfinance companies. Keep in mind that, in conventional banks, you will be required multiple guarantees (for example, not appear in the census of Financial Credit Institutions) and that could complicate the granting of the loan or quick receipt of money.

To receive the quick loans, it will be enough that you are not bankrupt or have open or unfulfilled requests with the entity that grants them. In addition, you save time and money in matters of paperwork, since all the paperwork you are going to do online, with the comfort and speed that this means.

How can you request your quick loans?

How can you request your quick loans?

Request a quick loan and take advantage of the money are actions, practically, parallel, due to the simplicity of the process.

First, you have to choose the amount of the loan that interests you (between 300 and 800 euros) and the term in which you want to return it. In this way, you can choose the conditions that best suit your specific needs. In fact, you can carry out this process through a useful Internet tool.

Then, you only have to enter, after the creation of your user account on the website of the entity that is going to provide the loan, some simple personal data. And, finally, your application will have been approved and you will receive your quick loan in, more or less, a quarter of an hour.