Tips for credit talks with the bank

If you want to have a loan, you have to prepare for the conversation with the bank. This not only increases the chances of the loan being approved, but also provides a realistic overview of your own financial situation and strengthens your self-confidence. Here are 7 tips for a successful credit conversation with the bank.

Scheduling and asking what documents are needed

Scheduling and asking what documents are needed

Talking to the bank requires an appointment. Here you should choose a day on which there is sufficient time. Time pressure or appointments before and after the bank call should be avoided if possible, because under pressure credit transactions are sometimes concluded prematurely, important questions can no longer be asked and are then forgotten, alternative options are left out. On this occasion, you should also immediately ask which documents and documents in which form (original, copy) are to be brought to the interview.

Realistically determine the loan amount

Realistically determine the loan amount

The loan amount should be set realistically and precisely. Better too high than too low, because a subsequent credit increase is associated with costs and effort, if at all possible. Both small and large sums should be dealt with precisely. That means roughly estimating is not a solution, the acquisition value or the sum required for the investments must be known exactly or determined. Here, cost estimates are very helpful, which are attached to the documents for the bank. Expenses related to the purchase, investment or construction of a house must also be included. This can be, for example, when buying a new kitchen handicraft costs for necessary renovation work in the room in question. The interest accruing on the loan is also to be added, plus any known costs, which the bank also charges.

Draw up a financing plan

Draw up a financing plan

“That’s what the credit advisor does.” That’s right, but what good is it if this task is taken over by the credit advisor and in the end the credit rate is too high and after a few months the loan can only be serviced with difficulty or not at all. The bank then wants to see their money either way. A financing plan should therefore be drawn up by the potential borrower. This contains income and expenses as well as a calculation value for unforeseen expenses. These values ​​are then used to determine a realistic and easy-to-manage installment amount.

What the finance plan for private borrowers is the business plan for businesses and the self-employed. This is far more complex and should ideally be made with the support of a specialist.

Compile documents and documents appropriately

Compile documents and documents appropriately

As with a classic application, the first impression counts. This preparation, which may seem banal for some people, has a major impact on the rating of the bank, because it can certainly provide information about the type of borrower it will be dealing with. Sloppy, unclean documents in loose leaf form, doodles instead of a properly structured list, missing documents paint a rather disoriented and less committed picture of the borrower, which can also leave a queasy feeling when it comes to loan repayment.

Write down questions

If you come up with something during the preparations that concerns you in connection with the loan, write it down on a leaflet that you will then use to help you in the conversation. It is important that all ambiguities are resolved before the loan is applied for. Be prepared to follow up if something is unclear to you. Do not leave the bank until you really understand what it is all about.

Go to the bank meeting relaxed

Stress and hustle and bustle have an unfavorable effect on the internal constitution, they can sometimes make you aggressive. Try to “come down” before the appointment, here relaxation exercises also help. A sumptuous meal leads to tiredness, which can adversely affect receptivity and communication. You should also considerately avoid garlic in your meal that day.

Be well-groomed and friendly

The lending also depends on your appearance. Don’t forget that you want to fulfill a wish and the person who can help you will be there soon. Pay attention to your well-groomed appearance, do not go to the conversation in comfortable clothes, but dress a bit fancier and more elegant than usual, then you will also be on the same level with the credit advisor and feel more confident. Hair and fingernails should be in top shape, shoes should be cleaned. Do not use chewing gum in your mouth, you can chew it beforehand to keep your breath fresh. Stay friendly, factual and polite.

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