Thanks to the credit rating, unexpected amounts of credit may be withdrawn, or loans that may be well below the expectations may be accepted.
In this context, it should be noted from the outset that some products for the low credit rating group are also developed. The possibility of credit to low credit ratings from Good Finance Bank is one of these products, and its details are very important for consumers with low credit ratings.
What is a Credit Rating?
The note that indicates to what extent the consumers fulfilled their responsibilities arising from financial relations with the banks in the past is called credit note.
Credit Rating Is Determined By What
After increasing questions about what the credit rating was determined for, Findeks, that is, an explanation was made by the institution operating in order to make the credit rating a more understandable report by the consumer.
According to the announcement, the most serious effect on the determination of the credit rating is whether the necessary payments are made based on the loans used in the previous periods and whether the credit card debt is paid on time. In addition, there is the total volume of loans used and the importance of credit debt in the consumer budget in terms of this volume.
When Can I Call a Low Credit Rating
The fact that the credit rating is low should also have a criterion, when consumers say that the credit rating is low, they have to talk about the same thing with banks and other consumers. For example, for a consumer who has fulfilled his responsibilities perfectly in the past, due to the recent negativities, the credit rating of 1500 has been low, while for other consumers, this rating may be very high. To solve this problem, a categorization was made among the credit ratings and it is as follows:
- 1-699. Risky Group,
- 700-1099: Medium Risk Group,
- 1100-1499: Low risk Group,
- 1500-1699: Good Group,
- 1700: 1900: Very Good Group.
As can be seen, it is possible to describe credit scores below 1100 as low credit scores. If your credit score is over 1100 points, you should not think of yourself as a low credit score person, you should apply for credit to any bank along with your income document.
Good Finance Bank Consumer Loan (Up to 20 thousand USD)
Within the scope of the consumer loan product allocated by the largest state-owned state bank Good Finance Bank, financing is provided to meet daily needs. Consumers wishing to access this product are expected to have high credit ratings under normal conditions and to have regular income, but consumers with low credit ratings also have the opportunity to use loans under certain limits and conditions.
The features of the loan product are as follows:
- Up to 36 months maturity,
- Attractive interest rates,
- Ability to apply through internet banking or mobile banking application,
- Discounted Life Insurance,
- Personalized payment plan.
Who Can Benefit?
This loan product is available to anyone over the age of 18 and under 75 who do not need to be excluded from the banking system. The criteria that divide the people who want to use the loan into two as those who can and cannot use them are the conditions.
Consumers with low credit ratings may be required to show collateral, submit an income certificate or vouch for using credit. These are not imperative, but are likely to help the loan application to result positively. Therefore, if you have a guarantee such as a guarantee, a mortgage or a guarantor you can give while applying for a loan, it is highly recommended to make your application through them.
If you do not have such opportunities, that is, if you cannot show any guarantees, mortgages or guarantors, all you have to do is to apply for a loan, by paying 20% of your monthly income.
For example, it is quite a risk for a person who earns 3 thousand USD monthly to pay 600 USD in installments and increases the probability of the loan being approved. Once you find the amount of installment you need to pay according to your monthly income, it may be useful to enter the website of Good Finance Bank and use the loan calculation tool according to the installment amount.
If these transactions are confusing or you have not been able to access the relevant calculator, simply call the Good Finance Bank call center at 444 00 00 or 0850 220 00 00 . If you tell your monthly income that you want to allocate 20% of this income to loan installment payments, the customer representative will calculate the most appropriate loan for you.
If the consumers who decide to apply for credit are already Good Finance Bank customers, all they have to do is to enter the consumer banking page under the products tab after clicking on the internet banking application and click the apply button immediately. Loan applications made through the internet banking application are evaluated and answered in a short time.
Consumers who want to apply for a loan through the branch must go to the nearest Good Finance Bank branch along with their income document and identity card. The loan application made is answered within a short time and if it has been previously authorized, the account is opened and the credit is allocated without the need to go to the branch again.