Derived from the Latin credere, credit is defined as trust. The meaning is also the basis of giving credit from the lender (bank) to the debtor. In its development, credit giving attention to several factors to perform risk management in order to avoid bad credit. If you plan to apply for credit, you can visit our website at www.installmentloanscompany.com/.
Many cases of credit applications are rejected and not a few are rejected. Many people are confused as to why their credit is rejected. Added to the provision that the bank has no obligation to submit the reason for refusing to give credit. Although banks have different reasons for approving or rejecting credit applications, the bank has a generally accepted standard. Application for credit in the form of application submission in advance analysed credit analyst by referring to many provisions. In the credit analyst, the decision on approval or rejection of the loan application is determined.
Requirements for the administration of credit application must be fulfilled to make a submission. After the file is complete, then the bank continues the credit application process to the next stage, which is analysing the credit. Each bank may set different requirements for credit applications. However, in general, the terms and conditions of the bank are:
1. General Terms, including:
– Fill out the application form
– Photocopy of identity
– Photocopy of savings book in recent months.
2. Special Terms
In addition to the general requirements, there are usually more specific terms, including:
– Photocopy of bank statement/current or savings accounts at any bank during the last 3-6 months.
– Other financial data, such as the balance sheet, income statement, daily sales and purchase records, and other bookkeeping data.
For the sake of a smooth process, make sure you consult with the bank to find out what requirements need to be completed to apply for the credit.