Now we need to calculate the income. Ivan works for a company where he earns an average of 55,000 ₽ per month. He sometimes works part-time as a taxi driver, which brings him an additional 15,000 ₽. He also rents out an apartment for 35,000 ₽. This gives him an average monthly income of 105,000 ₽.
We divide 37,580 by 105,000 and get a coefficient of 0.36. This means that even after receiving a new loan, Ivan will spend only 36% of his income on all payments on credit products. This is a good balance. Ivan can count on approval of the application and favorable credit terms.
What is the debt burden required for an application to be approved?
The lower the debt load indicator, the more likely the bank will approve the application. The optimal load is considered to be up to 50%. If you spend more than half of your income on debt obligations, the bank will not be able to issue you a new loan.
If you have calculated your debt load indicator and it is too czech republic mobile database high, you should not apply. Most likely, the bank will refuse, and this will affect your credit history. First, you need to reduce the load, and only then apply for a new loan. There are four tools that will help you do this.
Repay some of the loans in full or in part
Partial early repayment allows you to reduce the size of your monthly payment. Try saving for several months and depositing larger amounts into your credit account. To do this, you can take on a part-time job, sell unnecessary things, or earn money in some other way.
If you have small loans, you can use full early repayment for them. This will significantly reduce your debt obligations. You can also ask the bank to reduce your credit card limit and put more money on it than usual. This will also reduce the payment.
Combine loans into one
One of the most profitable ways to reduce the load indicator is refinancing. It helps to reduce not only the payment, but also the interest rate. If you have a good financial reputation (you do not allow delays), it is worth using this tool.