Do you want to know the acceptance conditions for obtaining a personal loan? Atlan Financial answers all your questions.
Before granting you a loan, our bank verifies that you meet their acceptance criteria. The most common acceptance criterion concerns your repayment capacity. To this end, you must demonstrate, using various documents and supporting evidence, that you have the necessary repayment capacity to comfortably cover your monthly payments.
- You must be at least 18 years old and no more than 80 years old.
- You must be reliable and able to repay.
- You must be a person of good moral character.
- Our loan is repayable over a period of 3 to 240 months, depending on the amount requested.
- Personal loans have an annual percentage rate (APR) of 3% (except for promotional rates).
- Granting credit is prohibited if it leads to the consumer's over-indebtedness.
The first step is to calculate your available income: salary, pension, rental income, dividends from your company, alimony, unemployment benefits, allowances, etc.
This allows you to meet the acceptance requirements, even if you are self-employed or looking for work.
Generally, the lending institution will request more supporting documents to verify that your repayment capacity will be stable in the long term.
Next, your expenses are deducted from your available income to determine your monthly repayment capacity. This capacity must be sufficient to cover your personal loan installments while also allowing you to manage everyday expenses and unexpected costs.
Expenses include your rent or mortgage payments, utility bills (electricity, etc.), taxes, alimony, and so on. Your personal circumstances are also taken into account when calculating these expenses: marital status, number of children, whether you own or rent your home, etc.
Once this data is combined, lenders will have a precise understanding of your repayment capacity and can assess whether your application meets their acceptance criteria.
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Call : +1 (343) 512-6771
507 S 1st Ave Morton, Illinois(IL), 61550
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