Many banks have already managed to adapt to the situation when they have to face a choice: whether to provide a loan to a person receiving an envelope salary or not. Financial institutions give their clients the opportunity to prove their income by any means. Some of the banks may even accept any form of income documents as an assignment. The main requirement for such papers is the exact real amount of income and the employer's stamp. Let's see how the process of consideration of the borrower's application proceeds, as well as some other details.
Instructions
Step 1
Banks in this case are insured and additionally check their borrowers. The security service identifies the client and verifies the authenticity of the documents provided to the bank. The legal department is engaged in the verification of title documents, and the "risk management" service determines the risk of the loan, and also finds out the class to which the client belongs.
Step 2
The risk of a loan is the risk of a bank not returning its finances. From this point of view, the most "dangerous" clients are secretaries with a salary of several thousand dollars and too young company executives. It is also difficult to get a loan for designers, artists, lawyers, journalists, and indeed everyone who receives their salaries in royalties. Such people need to look for guarantors, which can be individuals, as well as institutions that will repay the loan themselves if the borrower loses solvency.
Step 3
Banks also take into account other evidence of income in addition to the income statement obtained at the place of work. Whether the borrower has a bank account, rented real estate, a car - all this is not left without attention. All collected data regarding a potential borrower is analyzed by the credit committee, created on the basis of the bank. There, a verdict is issued, determined by a vote. If you were denied money, you can contact the bank again - this is what the bank employees themselves say. In particular, when the refusal was not a consequence of the client's unreliability.
Step 4
Banks have special requirements for private traders: you need to have a profitable business for six months. If a person has managed to work on the spot for only a couple of months, he will be offered to apply for a loan after six months from the first day of his work in the current job. Any other person can also apply for a loan from the bank again.
Step 5
If a borrower with unconfirmed or unstable income is not denied a loan from the first bank, then banks will simply reinsure their risks by increasing rates. For example, if the percentage of annual payments is 13%, then for those who receive their salaries in envelopes, the rate may increase to 14% or even 15% per annum. Decide for yourself whether the game is worth the candle or not.
