Looking for a bank loan agent? Self application is more effortless

        Various types of credit loan information often appear on the internet, and there are also many advertisements for agency bank loans. What services does the agency industry provide? Are there any other hidden risks? This issue of 'Finance Column' reveals the pitfalls of the agency process and introduces online loan application methods, making it easy for you to meet your funding needs.

        What is agency?

                During the process of people applying for loans, there may be difficulties in filling out application forms, unfamiliarity with financial terminology, or non-compliance with bank approval requirements. In this case, if the agency can provide consulting services, it will definitely be very attractive. However, the quality of agency operators varies, and they may deceive customers with exaggerated and untrue advertisements, such as ensuring full approval, same-day funding, or ultra-low interest rates. Although it may seem convenient and cost-effective, they may not necessarily apply for loans in a compliant manner, and even if the loans are not provided by banks, they charge customers high consultation fees. In addition, there are also scammers who perceive the public's urgent need for money and disguise themselves as agency companies to defraud individuals of financial resources, leaving consumers at a loss.

        Although there are also legitimate agents in the market, additional collection inquiries may affect the 'personal credit score' and prevent them from obtaining more favorable loan conditions. Moreover, some agency companies may not be able to rigorously handle customer information, exposing consumers to the risk of personal capital leakage. Even more unscrupulous individuals may alter the borrower's occupation, salary income, and other information to create favorable conditions and increase the probability of loan approval. Once identified by the bank's credit review personnel, the borrower will not only be blacklisted for bad credit, but will also be unable to borrow in the future. Agents and borrowers may also face legal responsibilities.

        In order to protect the rights and interests of borrowers, the Financial Supervision and Administration Commission continues to strengthen its propaganda and stipulates that banks shall not accept loan application cases handled on behalf of others. In fact, banks have professional loan specialists who can provide consultation, recommend suitable products based on needs, and strive to strive for the best amount and interest rate for customers.

        How do banks assess customer conditions?

        In addition to obtaining the borrower's "personal credit score" through the Joint Collection Center, banks also consider income, occupation, debt, and repayment situation to ensure the borrower's repayment ability. Therefore, paying attention to the following four key points can gain the trust of banks, further improve the success rate of loan applications, and obtain better loan conditions.

        1. Repayment on time: Regardless of credit card, credit, or mortgage, personal and bank transaction records are all included in the attached documents. If repayment can be made on time, credit value can be accumulated, and banks will be more willing to provide loans; Relatively, if there is no loan record, the bank cannot determine whether the applicant can repay on time and is usually less willing to borrow.

        2. Job stability: Banks usually evaluate the size, occupation, job responsibilities, seniority, and salary of the borrower's company. The more stable the job, the more likely it is to repay on time; If you have less than half a year of experience and use this salary as a repayment source to borrow credit for 5 or 7 years, the stability of your repayment will inevitably be questioned.

        3. Avoid excessive debt ratio: Debt ratio is the ratio of existing loan expenses to monthly salary. If 70% or 80% of monthly salary is used to repay loans, it will inevitably affect daily expenses and cannot cope with emergency situations. Therefore, even if the borrower is currently able to repay on time and has good credit, the bank will still be worried that the new loan will become the last straw that will overwhelm the camel, and is unwilling to provide too high a limit.

        4. Avoid short term multiple queries for syndication: Every time a borrower applies for a loan, the bank will check the syndication information, and the query records will be recorded in it. If there are too many query records in a short period of time, the bank will consider the borrower to be facing financial crisis and question their repayment ability.

        5. Honest loan application: It is necessary to fill out the application form in detail and provide the documents. If the information is inconsistent or conceals deception, it is likely to be politely refused to lend or even blacklisted.

        How to apply for a bank loan?

        1. Preparation of application documents: prepare Identity document, income certificate and other information. Due to different documents recognized by different banks, it is recommended to consult the official website or the commissioner in advance.

        2. Fill in application information: including personal identification information, employment company, occupation, salary, desired loan amount and period, and other information. Most banks provide online application services for the convenience of the public.

        3. Waiting for review: The bank will check and evaluate the applicant's credit history, financial condition, and repayment ability, and may call to verify the information. Please be honest and answer, so that the bank can approve the loan with confidence.

        4. Confirm the terms and sign the contract: After the bank approves the loan application, it will officially sign the contract, confirming the loan amount, repayment term, interest rate, and other conditions.

        5. Successfully allocated funds.

        In addition to going to physical branches to apply for loans, most banks also offer digital application services combined with discounts or lottery activities. However, for the first time applying for loans online, it is inevitable that you are not familiar with the process. The following are common problems and solutions. I wish everyone success in obtaining loans and achieving financial goals.

        For "financial documents", such as "salary to passbook" or "Paycheck", please upload them according to the process instructions. If you wish to apply for more quotas, you can upload complete tax declaration materials that reflect the bonus and dividends.

        Regarding file uploading: As the image quality of the phone increases, the file size for taking photos also increases, making it easy to exceed the upload capacity limit; In addition, the image formats are also divided into PNG, JPG, TIF, etc. If the data cannot be uploaded, it is recommended to check the size and format of the file first.

        Click to see more Financial Supervisory Commission promotional news: https://bit.ly/420mDrm

        Image source: Freepik

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