What salary should be to get a loan
Posted: Tue Feb 18, 2025 10:49 am
The higher the loan amount, the more likely the bank will ask the potential borrower to confirm income. This is not just a whim of a financial institution - the Bank of Russia, as a regulator, requires market participants to assess risks when issuing loans to individuals and businesses.
But what if the borrower works unofficially or the "white" part of his salary is only the "minimum", and all other amounts are not indicated in the 2-NDFL certificate? What salary should be to receive a loan and can the bank take into account other income - for example, from self-employment or renting out housing? Let's figure it out.
How banks evaluate clients' income
When issuing loans, banks are required to include the risks of their turkey mobile database non-repayment and to assess the probability of such a development in advance. After all, they need to fulfill their obligations not only to borrowers, but also to depositors and investors.
Therefore, when considering an application, the following are taken into account:
A credit rating is the history of a borrower's relationship with creditors.
Income level – primarily official.
Debt burden ratio (DBR) is the amount of the borrower’s current obligations to creditors.
A credit rating is indicative of a borrower's reliability. The more responsibly he approaches his obligations, the more willingly banks issue him new loans. When filling out an application, creditors ask the client for consent to request data about him from the BKI - this point is usually written in the questionnaire.
The bank's security service then analyzes the received report and, based on it, assesses the borrower's financing risk level. The higher it is, the more additional guarantees the lender may request. For example, approval will be impossible without collateral for the client's property or without involving co-borrowers and guarantors.
Income level is another indicator that is always taken into account when assessing risks. A potential borrower does not necessarily have to earn millions every month to get a loan – salaries can be average, minimal or absent altogether. Many banks take into account additional and alternative income. The main thing is that they are verifiable – a lender cannot take a client’s word for it.
But what if the borrower works unofficially or the "white" part of his salary is only the "minimum", and all other amounts are not indicated in the 2-NDFL certificate? What salary should be to receive a loan and can the bank take into account other income - for example, from self-employment or renting out housing? Let's figure it out.
How banks evaluate clients' income
When issuing loans, banks are required to include the risks of their turkey mobile database non-repayment and to assess the probability of such a development in advance. After all, they need to fulfill their obligations not only to borrowers, but also to depositors and investors.
Therefore, when considering an application, the following are taken into account:
A credit rating is the history of a borrower's relationship with creditors.
Income level – primarily official.
Debt burden ratio (DBR) is the amount of the borrower’s current obligations to creditors.
A credit rating is indicative of a borrower's reliability. The more responsibly he approaches his obligations, the more willingly banks issue him new loans. When filling out an application, creditors ask the client for consent to request data about him from the BKI - this point is usually written in the questionnaire.
The bank's security service then analyzes the received report and, based on it, assesses the borrower's financing risk level. The higher it is, the more additional guarantees the lender may request. For example, approval will be impossible without collateral for the client's property or without involving co-borrowers and guarantors.
Income level is another indicator that is always taken into account when assessing risks. A potential borrower does not necessarily have to earn millions every month to get a loan – salaries can be average, minimal or absent altogether. Many banks take into account additional and alternative income. The main thing is that they are verifiable – a lender cannot take a client’s word for it.