"Pre-approved loan" is a common wording that bank customers encounter. It may be used as a response to your application form or it may come in a newsletter when you have not applied to the bank at all. Both of these cases deserve separate consideration.
What does pre-approval of an application mean?
The bank gives such a response after reviewing your online loan application. In the questionnaire, you provide information about yourself, including your income level. Without your personal presence, a bank employee can only check your credit history, look at your financial burden, compare it with your income and make a preliminary decision. Often, this does not even require a real employee - this process can be automated using a simple algorithm.
When a credit institution preliminarily approves a request, it does russia mobile database not mean that you will actually receive the money. Now you need to confirm the accuracy of the data specified in the questionnaire. Moreover, a certificate of income may not be enough. It happens that the final refusal comes even before the potential borrower visits the bank, after a telephone conversation.
Let's give an example:
Maria applies for a credit card. She lives in a rented apartment with Ivan Petrov, but states that she lives with relatives. She hides a large expense item because she wants to increase her chances of a positive decision. Maria does not know that Alena Smirnova, a relative of the owner, but with a different last name, is registered in her rented apartment. A bank employee calls Maria and asks her many questions, and at the end of the conversation asks if she knows Alena Smirnova. Maria is surprised, says "no", and a minute later receives a refusal from the bank.
The application form specifies the residential address, and the bank can easily access the persons registered at this address through a single register. In Maria's case, the employee easily discovered her attempt to hide one of the expense items, and this became the reason for the refusal. Application forms in which the bank finds deception are usually not approved.