On what it depends, they will approve your loan or will be refused, how you can lower the percent rate and why it is better to contact the bank office personally on all important issues.
In life there are moments when you don’t have money at all. In such a situation, of course, you should not turn to omnipresent microfinance organizations. There is no point in commenting on this thesis: there is enough material on the Web about the actual cost of this type of “loans”.
Borrowing money from relatives or friends is also a dubious pleasure. You can spoil the relationship until the end of life.
If you do not have stock on a rainy day, it is better to go to the bank.
- Necessary and sufficient condition for a positive decision.
So, you need money, and the road led you to the bank. You name your achievements: expensive car, apartment, summer house. Bank employees are smiling sweetly, but you get rejected. The reasons no one explains, but they are. More precisely, it is always one reason, let’s try to figure it out.
The bank is created for profit. Other organizations are involved in charity. The bank without any profit can’t and will not give you money.
The bank is interested in issuing loans, as this is its main income (we do not consider foreign exchange activity in this article). The bank has few of its assets, it attracts borrowed funds and is itself a major borrower: depositors, the Central Bank, and other banks — its lenders. The bank operates mainly with highly liquid assets — money. By issuing a loan, the bank is obliged to make a profit, which is formed from the percent rates on the loan.
situations when the borrower is unfair or declared bankrupt;
massive closure of deposits .
Thus, the bank «sells» money, and there is no other meaning in its activities. The bank “sells” money to you in installments and wants (must) get money for its “product”. Any loan is provided by the borrower’s money in the form of his income. The essence of the loan is not to receive money that you do not have, but to receive money that you do not have now, but they will be in the future. Moreover, this future in the eyes of the bank should be bright, fully predicted and documented, no one will believe in the projects.