For each of the different types of loans as financial entities, the requirements vary, although the differences are usually small. How to Spot a Trustworthy Payday Finance?
The requirements to acquire a loan vary according to the following factors:
- The type of loan (personal, pledge, mortgage ).
- The fate of the loan.
- The entity (bank or company) to which the loan is requested.
In general, banks or financial institutions ask for a greater number of requirements compared to companies’ loans in the act ” and/or” single signature “.
Banks grant loans to clients and request documentation such as identity document, proof of income, seniority (between 6 months and 1 year, depending on the bank, category, income, and type of activity of the client), and they can even request a guarantor
On the other hand, companies that grant loans to a single firm usually ask only for the applicant’s DNI, the last salary receipt and a bill for service (electricity, gas or telephone) with the name and address of the applicant. In general, these loans tend to be higher than the first because the people who usually go to this kind of entities is because they can not access a loan from a banking institution.
Some of the requirements that banks request for the different types of loans are:
- Dufour Personal Loan for the Purchase of Vehicles: This credit is for a single signature and without collateral, it is to buy vehicles 0 km or up to 8 years old.
- Dufour Mortgage Loan: This line of credit is for the exclusive use of those of people who want to buy, build, buy land and build, renovate or expand, or another destination. For the destination of buying a home, the maximum financing percentage is 70% for permanent residences, while for non-permanent residences the same is 60%. For the construction or termination on own land, the percentage of financing is 60% of the value of the construction for permanent residence and 50% of the value of the construction for non-permanent residences. In the event that the destination island purchase and construction the maximum amount of financing is 50% for housing whose destinations are permanent housing with a cap of up to 300,000 pesos, while if the destination of the house is not the occupation permanent the maximum amount of financing is 40% with the same cap mentioned above, in the event that the destination is the renovation or expansion the maximum financing percentage is 50% of it in the case of permanent housing and 30 % of the value of the spare in case it is not. Other requirements are to demonstrate a minimum income of between 4,000 pesos and 6,000 pesos depending on the geographical area in which the client is domiciled, be over 21 years of age, not over 69 years of age, have no negative credit or commercial history , the relation quota income cannot be greater than 30%, seniority not inferior to the year.
- Simple Loans of the BBVA Bullock Francés: The requirements that the client must fulfill in order to access this line of credit is to credit the assets in the bank for at least the last three months, to demonstrate a seniority of more than one year, for independent professionals they must also show a seniority of more than one year, required income of 3,000 for people who prove their assets in the bank or who own any of the products, those who are not clients must show a minimum income of 5,000 pesos.
- Loan Nation Loan: Public employees of the permanent plant must demonstrate a minimum age of 6 months, while employees in a dependency relationship must demonstrate a minimum age of one year, while public employees of a temporary plant must demonstrate a minimum age of One year in the position.
- Personal Loans with Minimum Requirements of the Mortgage Bank: The requirements for this line of credit are to be Argentine or with permanent residence in the country, be over 18 years of age, demonstrate a minimum monthly income of 4,000 pesos, demonstrate a one-year work continuity for people.
- HSBC Personal Loans: The requirements necessary to access this line of credit are between 18 and 75 years old, the minimum income requested for the clients that collect their salaries in the bank is 2,000 pesos, the employees in relation to dependency must demonstrate minimum income for 2,500 pesos, while independent workers must also demonstrate the same income as workers in a dependent relationship, the minimum working age that must be credited by the clients of the salary plan is three months, while workers in Dependency relationship must demonstrate a work seniority of one year with a minimum of 3 months in the current job, independent workers must demonstrate between two and three years in the current activity depending on the activity they develop.
- Patagonia Bank Mortgage Loan: before approving a mortgage loan, asks the client to comply with the requirements of being between 18 and 64 years of age, the income quota ratio cannot exceed 25% unless they credit their assets in the bank in which case it may be up to 30%, the last requirement that the bank requests is that the client demonstrates a minimum working age of two years.
- Super Loan: To access this line of credit customers must meet the requirements of being between 18 and 75 years of age, 6 months of seniority, and minimum monthly net income of 3,700 pesos for both singles and groups family.
- Social City Loan: Clients who wish to access this line of credit must comply with the requirements to present their ID, have completed the corresponding deposits in time and form to access the credit, have integrated the advance, have no unfavorable antecedents in the system In addition, the bank must demonstrate the minimum income requested by the bank for said loan.