Did you ask Smike to help you with credit and do not you understand why you need to deliver the documents that you have been asked for? Do you want to ask for credit and do not know the information you have to provide? In this article we will explain to you why it is important to give information and why it is important to worry about this point.
Giving Information Is Good!
The greater the knowledge the bank has of itself the greater the probability of being granted a credit. In addition, and so important, the greater likelihood of having a credit with a lower rate. By remembering that the interest will be all the greater the risk of the client, will conclude that the greater the transparency in your request, the greater the risk to the bank.
What are the Top Credit Documents?
The following is a brief list of the main documents that can be requested. Depending on the financial institution and specific cases it may be necessary to give more or less information.
In the case of formal contracts, it is logical for the bank to have its civil identification data, its taxpayer number and proof of residence. As proof of residence you can provide one of the following documents:
- Receipt of water, electricity, gas, telecommunications;
- Bank statement with address;
- IRS Settlement Note;
- Receipt of Insurance Payment;
- Driving license.
Proof of IBAN
The credit agreement has associated the payment of banking benefits that is done with debit authorization in account. Therefore, the customer must prove that he / she is the holder of that bank account, if it were not for some reason to give the NIB of another person. As proof of IBAN may provide:
- Bank statement on behalf of one of the holders;
- Bank statement with IBAN identification and name of one of the holders;
- Digitization of the internet with IBAN on behalf of the holders;
- Bank check in the name of the holders;
- Multi Bank Card with the respective IBAN receipt issued by ATM;
- Copy of the first page of the bankbook.
Proof of Income
To do the risk analysis of the operation the bank or financial institution needs to have well documented the income of its clients. It is not enough for the client to say that he receives so much per month and that he has an effectiveness contract. The bank needs to prove and have all supporting documentation, also for legal reasons. Thus, as proof of income we can have:
- Maturity Receipts;
- Copy of work contract;
- IRS Statement and Settlement Note (the settlement note is the validation that the statement is correct because we can put what we want in the statement);
- Proof of Reform;
- Bank statements for the last 3 months.
A large percentage of bank customers requesting a new loan are already in the process of receiving other loans from other financial institutions. In this way, you will be asked for the credit map of the Bank of Portugal (if you are married you need the map of both spouses), which shows a summary of all your credits and your status (if you are in default you will not be able to have credit).
It is also necessary to know for sure the amount in debt for cases of credit consolidation. The bank needs to know how much to transfer to settle your credit. In these cases, the following detail is essential:
- Financial institution;
- Contract holder;
- Contract number / card;
- Amount of the Provision;
- Date of issue of the declaration and date of validity thereof;
Please note that the Bank is not BigBrother who wants to know where their potential customers spend the money out of sheer curiosity. Once again, banks analyze customer profiles in order to see if they are in control, whether they are consumerists, whether they are gamblers (do not do casino ATM surveys, for example), if they fulfill all their benefits. Anyway, “Tell me how you spend your money, I’ll tell you who you are.”
Know that bank statements tell us a lot about people so if you want a credit you should try to have your statements “clean” for at least the last three months (it should always be, but not always possible). Three months already allows us to perceive consumption patterns that are read and stored for statistical and customer characterization.
Is it too much bureaucracy? It makes sense that this is so that it can increase the probability of the contract being successful from start to finish . Imagine that your credit rating was poorly done (as it was in the past with some institutions) and that your effort rate does not include the benefit. Sooner or later you will default on your commitment to all financial penalties (commissions, late fees) and legal penalties (liens, insolvencies).