We explain to you what this type of loan consists and what is usually your requirements
The most common thing is that a person goes to a bank when he needs financing for any of his projects or expenses. That person will have to face a study on the part of the entity and meet a series of requirements that the bank requests. However, there is also the possibility that it is the bank entity itself that offers its customers the possibility of having an extra amount of money in the form of a loan, relying on the solvency that this person has shown in recent years as a bank customer. This is known as a prescribed loan.
A pre-granted loan involves accessing financing with minimum waiting time and with little documentation. This does not mean that the loan is 100% granted, meaning that the bank considers that all the requirements for granting that loan are met visibly- GAD. Since the bank has most of the client’s information, if the pre-arranged loan is requested, the waiting time and the paperwork will be minimal.
It is a boost to undertake this project, trip, reform or new studies, with the peace of mind that there are many possibilities to access financing quickly and easily. But how do I know if I have a loan prescribed by my bank? The banking entity will communicate it to its clients through an alert through its online banking or apps, or by letter, SMS, email, etc.
Requirements for loan
The normal thing is that financial institutions offer these pre-granted loans only to their customers, since they have been linked to the bank for a while, and could prove a certain solvency in the last period. Each entity establishes its own scales to offer to finance to its clients.
People who have more chances to benefit from a pre-arranged loan are those who, for example, have a payroll domiciled, have no bets in their accounts, have domiciled receipts or usually use the bank’s cards. There is no universal formula, each bank establishes its own requirements, but the most normal is that the greater bond and solvency, the greater the possibilities of accessing this type of financing.