How to receive a loan from a bank?

To obtain from the bank, there are things that you must respect. Among these, there are conditions relating to the income, the indebtedness of the one who wants to take a loan. There are some personal information and age which are also concerning. In the rest of this article, you will discover more details.

Financial stability is important

To get a loan from a bank, you must have financial stability. That is to say that you will have information to provide in order to prove the regularity of your income. You must provide proof of your contracts in a public office or proof that gives enough details about your financial life. If you are in a fixed-term contract or in an internship, you cannot receive a loan. Age is also a criterion that you meet in order to obtain your bank loan. And for most businesses you need to be at least 30 years old. Sometimes you can get a loan below 30 but with other mandatory conditions.

Debt rate and remainder to live

Even though you meet all the other criteria to receive a bank loan and that of indebtedness is not to be verified, nothing can be done. In addition, the debt ratio is calculated according to several criteria such as salary or income and the total monthly payment. If after the operations your debt ratio is higher than 35%, you must be admitted for the rest of your life. This rest to live concerns everything that remains in the household as expenses. These are the bill, taxes, transport and monthly credit payments. If you manage to bear the rest of your life while meeting the other criteria, you can take out a bank loan. Some banks may add other conditions. However, those mentioned in this article take priority.

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