The reason why banks approve the loan application. Approval or not submission of our credit by the bank or institution pembiyaan where we submit it depends on whether or not we accept a loan or credit assessed by the bank. In determining whether or not we, the prospective borrower, receive a loan or credit is assessed based on 4 considerations, namely: Ability to pay, credibility, collateral or collateral and down payment. For more details, let's see one by one.
Ability to pay, of course, this is the most important consideration, because the bank does not want to give the loan funds to the debtor who was not able to pay off its debt so that it ends with bad credit. Banks see our ability to pay by looking at the financial records of prospective borrowers. Banks usually request a copy of the account for the last 3 or 6 months to see the consumption patterns of prospective borrowers. From the copy of this account, the bank looks at the amount of debts and debtor expenses each month. Then, the bank also looks at the credit tray of the prospective borrower. Ideally, the sum of all debtor debt installments should not be more than one-third of the monthly salary. Moreover, our credit application may be rejected by the bank.
Credibility, banks see the credibility of prospective borrowers by checking their credit history through bank checking history. If it turns out the prospective borrower has bad debts or delinquent credit bills, prospective borrowers are considered not credible alias not eligible for approved credit application. Collateral / Collateral, collateral as collateral for the debtor to pay off its debts. The value of collateral, house / building, for example, is determined based on the capture of the administrative requirements of the certificate, the quality of the building, the location, and so forth. Down payment or DP other than as a binder between the bank and the debtor, also has a function as a sense of responsibility of the debtor with its debt. Expected, with the down payment, the debtor will try harder in paying off the credit.