Taking a loan is usually considered very easy. But in reality, this often looks very different, because the applications and procedures are often associated with a lot of paperwork that has to be dealt with here.
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Especially if the loan application is still made in the traditional way, quickly results in a piece of paper, because copies of copies must be made. Everything is much easier today, because a loan application can now easily be made online. But here are several things to consider. What needs to be filled in and what information can hide any stumbling blocks that need to be bypassed? Questions to which the loan seeker should receive an answer here.
How to prepare properly?
When making a loan application, the most important thing when preparing for a loan is preparation. Of course, everything depends on what kind of credit it is. A car loan, for example, requires different documents than is the case with a real estate loan.
In addition, self-employed persons also have to submit additional or other documents in the case of an online application than those of an employee. Thus, the essential documents that are essential for lending and that should be available in digital form are listed first.
For workers and employees
- a valid employment contract (preferably indefinite)
- Bank statements that document the receipt of funds
- a household bill to prove the address
- possibly a copy of the bank card
- a valid identity card or passport
- the bank statements of the last three months, which have adequate coverage
- The business registration
- the operating permit (if available and required)
- the approval (if available and required)
- Tax assessments of the last three years
- valid passport or identity card
- a household bill to prove the address data
- possibly copy of the cash card
In the case of companies, the articles of association are to be submitted in principle. This also applies to pure partnerships, which in themselves do not constitute a legal entity. It is irrelevant whether a company consists of 100 or only two persons.
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The path to credit – explained step by step
The way to credit should be explained here step by step. In this way, errors can be effectively avoided because the sequence of applications in the network is basically more or less the same for each bank. Only the contents differ to a certain extent.
1. Complete application
First, the application must be completed online. This usually begins with the master data of the person. This includes name and address as well as date of birth and places of residence. Another person who makes the application together with the main borrower will also be noted in this area. The following section now asks for the financial data. These should be specified as accurately as possible, because the lending will be faster in the end. As a good preparatory work, the numbers must be checked less costly on the basis of the submitted documents, a decision can be made much faster. Ultimately, the employer still has to be named.
For self-employed this step is omitted, here the application ends usually in the economic conditions but is designed a lot more extensive.
Note: All data on the finances or the employer are subject to proof!
2. Wait for credit check
In this step, the loan seeker can not do much business, because he not only gives his consent in the terms and conditions of the lender by submitting the application, but also gives him a license to query the data of the KSV.
If negative features are present, the contract can usually be rejected. Since the check for online applications is automatic, there are only right or wrong here. If there is no negative entry, the loan is usually confirmed.
With a single negative detail but then the cancellation is already. This process is excluded from human control. If you have any questions, you should contact the bank immediately, for example, if information is incorrect.
Note: The advance confirmation does not yet constitute a commitment for the awarding of the loan. It only shows that there are no reservations about the KSV.
3. Setting up the online account
As a result, the user can create an account on the server of the bank. Usually, however, this is done automatically based on the transmitted data, so that the customer only receives his access data.
This account is the control center for all transactions that result from the loan. It is important that the mentioned documents are uploaded here. These are then ready for an employee to examine. As a rule, the customer is informed about the status of the processing. Contracts can then be viewed and managed in this area.
Note: Important documents will still be sent in writing. Although these accounts serve the administration, the legislator prescribes the written form for the contract or supplementary documents, for example.
Here, the customer has the choice of whether he wants to opt for the identification in the traditional way by Identbrief or for the online system. Many banks now offer online identification through specialized companies.
For this purpose, a webcam connection with a company employee must be established. Here, the ID card is placed next to the face of the camera, so it can tell if it is the same person. In the course of this identification, a digital certificate is then created which replaces the signature on the contract. This is thus effective with identification by the customer at the same time.
Note: Identification is an encrypted connection. In addition, no further data is requested and there is also no storage of private information on the servers of the third-party company.
5. Authorization and conclusion of contract
As a rule, the borrower receives the loan approval by e-mail. But this is only an advance notice, because the real credit agreement is usually sent to him by mail. This is already verified by the digital signature and must be taken only to the files. Usually, the payout then takes place within 30 minutes to 14 business days, depending on what kind of credit it is.
Note: It should be noted that from the day of the withdrawal, it may take 2 to 5 working days before the money has been credited to the borrower’s account.
Is the application in the network safe?
As a rule, all banks’ banks are provided with appropriate encryption. This prevents third parties from intercepting and misusing the data.
The entire process, including all other access to the lender’s site, is protected by these technical measures. If a certificate is invalid, the customer usually receives a notification of the browser. In such cases you should then already check the information of the bank.
Can an online application be submitted to all providers of credit?
As a rule, an online application can be made anywhere today. This also applies to credit intermediaries or mini-lenders. However, this can not be used for all types of credit.
For example, if you want to have a building loan for the construction of a house, you still have to go to the bank in person, because this is a considerable amount of money that is not simply lent via the network. In addition, various documents must be viewed here and a plan must be drawn up together with the bank. Even large loans are usually not awarded in this way. Here is also an appointment with the bank required.