For the purpose of applying for a loan, financial institutions may require different documents depending on the criteria used to evaluate the applicant’s credit application. There are mandatory documents everywhere, but there are documents that vary from bank to bank, depending on the loan or personal loan applied for.
There are basically four groups of documents required:
- personal documents
- banking forms
- documents proving income
- certificates of expenditure and of existing loans
1. Personal documents
Identity cards and address cards are essential, in principle some banks accept passports or driving licenses, but this is not general. Tax card, but if not, the original NAV certificate for the tax identification number may be accepted.
2. Banking Forms
The most important thing they are asking for everywhere is the employer certificate. From here, the bank can see that the person applying for the loan has a job and the income of the applicant. A minimum of 3 months of continuous employment is required by law, and it is not worth trying during this period.
3. Proof of income
In the case of a personal loan, the bank may not ask for a certificate of employer, only presentation of bank statements proving regular income. Conversely, it does not work, bank statements are always required. The bank determines whether the customer is creditworthy on the basis of his regular income.
4. Certificates of expenditure and of existing loans
It is not general, but the financial institution may request certificates for utility bills and other loans. This also helps in assessing your creditworthiness.
Of course, these financial documents may also require additional certification, depending on the type of documents that are commonly requested. In any case, it is worth following the financial institution’s own guidelines for a smooth borrowing process.
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