When the borrower appeals to the bank in order to obtain a loan, the employee tells about the terms and procedure for providing it, as well as gives a list of necessary documents for clearance.
Fundamental documents for credit registration
These include paper on the amount of income, passport, application, as well as some additional documents for certain types of loans.
The application of the borrower is registered by the employeebank, which deals with loans, in the accounting journal of applications. It shows the registration number and date. In addition, copies of all documents to be returned are made. The employee also makes a list of accepted securities, which is fixed either on a separate sheet, or on the reverse side of the application. Documents for the loan, provided by the borrower, are accepted, transferred, accounted for and stored in accordance with the rules in force in the bank. After all the papers are collected and decorated, they are sent for initial verification.
Initial check of the borrower
Time for consideration of the issue of grantingcredit depends on its type and amount, but it should not exceed eighteen days. The count starts from the date of submission of the documents. If it is a loan for urgent needs, the decision is taken twelve days.
Documents for the loan, provided by the borrower,are checked by a bank employee. This is done to control the information specified in the questionnaire. By checking the submitted documents, the employee finds out the credit history of the borrower and the guarantor (guarantors), the amount of debt on previously received loans (if any) or provided guarantees using the database on individuals. If necessary, he addresses inquiries to other banks, organizations and enterprises that provided credit.
Correctly will include in the number of guarantors of thoseindividuals, who are related to each other by related ties: adult children, parents, adoptive parents, spouses and trustees. The level of their income does not matter. This rule applies only if they are not the only guarantors. After verification, the borrower's solvency and maximum possible loan amount are determined.
After the credit department sends the collecteda package of papers in the legal department. Based on the results of analysis and verification of documents for a loan, the security department draws up a conclusion in writing, which is sent back to the lending department.
The loan department can involvean independent appraiser or an employee of a subsidiary (in case of accepting vehicles, real estate or other property as security for the purpose of determining the value of the property). After evaluation, the expert forms an expert opinion, which is provided to the credit department. As collateral can be used and securities, the possibility of reception of which determine the specialists of the bank. They also constitute an expert opinion, which is transferred to the credit department. All documents are checked in the most careful way, after all, the creditworthiness of the borrower depends on them.
The credit rating of the borrower
Estimating this factor, from the income of an individualdeduct all mandatory payments in the form and information. These include alimony, contributions, income tax, payment of interest on other loans and repayment of debts on them, compensation for damages, etc. To assess the creditworthiness of the borrower and the guarantor, the bank employee not only studies the questionnaires, but also checks references from the workplace or issued by state social protection agencies about the amount of deductions and income. Preparing documents for a loan of any kind, these securities are mandatory.
The final stage
Having completed the check, the bank employee,dealing with this issue, forms a package of securities with its decision, which is endorsed by the head of the unit. These documents for the loan are sent to the management of the department, which takes the final decision on refusal or extradition. In case of failure to provide money in the conclusion or in the client's application, the reason is prescribed.
After the message on the approval of the loan, the client must, when carrying documents for obtaining a loan, appear in the bank.
