Whether you get a loan or not depends not on the whim of the bank consultant, but on clearly understandable criteria.
The truth is, even if “your” bank advisor pretends to be over your request, the decision is actually mostly a computer.
Virtually all major banks handle all loan applications via central processing units. In these “credit factories” ultimately decide a few computer programs, whether the money is paid or not. The private credit score, the income and a few other factors play a role.
The problem: many people could easily afford a loan, but fall through the grid for one reason or another during the automatic check. Even small blemishes in the private credit information, for example, can ruin your desired loan. Fortunately, this only applies to the big banks and not to smaller institutions with which Crediter cooperates. Here, real people still take care of your loan request. And that is why sometimes unbureaucratic solutions are possible, where a computer would spit out only a “No”.
Nevertheless, of course, also apply to Cre loan and the partner banks certain rules – this is already apparent from the legal requirements. In particular, it is important that the income is sufficient for the desired loan. In addition, the other expenses (for rent, car, existing loans, etc.) must not be too high.
We have put together in a checklist the most important prerequisites for your credit approval:
- Minimum age 18 years
- Residence in Germany
- Income of at least € 1,300 net per month
- permanent employment
If you earn less than € 1,300 a month or, for example, only have a fixed-term employment contract, financing is unfortunately not possible without further ado. The same applies to apprentices and employees during the probationary period. In such cases, however, a co-applicant can be helpful. He then provides with his income, so to speak, the lack of “security”, so that the bank can still give a loan approval.