Banks do not approve loans in all cases. But how to understand what caused the refusal? How to eliminate its cause and achieve 100% loan approval? You just need to perform a few steps.
A bank is a commercial financial institution. Her goal is to make as much money as possible by issuing loans. It is unprofitable to refuse to issue a loan to a bank, they do it only for certain reasons. In order to get a 100% loan, you need to identify them and try to eliminate them. It is important to do this before you submit your documents for review.
Reasons for rejection of the application
Banks before approving a loan pay attention to such factors as:
- credit history;
- borrower's income;
- his age and marital status;
- conviction;
- the presence of a permanent residence permit in the region.
To get a positive answer, you need to meet the bank's criteria for all of the above parameters. Large state-owned banks and their partners will reject the application even at the slightest discrepancy, but small organizations may turn a blind eye to some of the items on this list.
How to get loan approval
To significantly increase the chances of approval of the application, you need:
- Contact small commercial banks. They are forced to compete with such giants as Sberbank, Alfa-Bank, VTB24, etc. Small banks may not always offer a lower percentage or better conditions, but they compensate for this with loyalty to their customers. Such banks are more likely to issue a loan to a previously convicted person with little income or a tainted credit history.
- Open an account with the selected bank and get a card. It is no secret that banks are more lenient towards their regular customers. Using the services of one organization, you can improve your reputation and establish yourself on the positive side.
- Prepare a complete statement of all your income. It is worth mentioning not only official sources. The main thing is that the funds go through your card or bank account. Private banks are also willing to accept such proof of the client's solvency. The more funds will pass through your account, the better.
- Have a permanent registration. Banks will refuse to issue a loan to those who do not have a permanent registration or are registered in another region.
- Improve your credit history. Loans are readily approved by those who have not had delinquencies in the past and have consistently paid off debts. But even if there were any, you can fix the situation. It is necessary to take a loan for the very minimum amount, it is possible online and at not very favorable interest rates. The main thing is to pay it off in time. In this case, a bright spot will appear in the credit history.
- Prepare in advance for a conversation with a specialist in the credit department. You need to think over your speech, be ready for all the tricky questions that may sound. Your best bet is to make a list of the weak points of your profile on a piece of paper and try to give them a reasonable explanation.
Completing all of the above will increase the chance of approval to almost 100%. The main thing is not to try to deceive the banking organization in any way, otherwise, even if all the conditions are met, you may be refused.
