Consumers and commercial enterprises who want to attract consumer loans should understand how much they can apply for. A good understanding of this will both ensure that the application is approved within a very short time and will prevent the credit rating from falling because there will be no rejected loan applications.
In this respect, it may be useful to touch on which bank I can withdraw 100 thousand USD of general-purpose loans and to clearly state what should be known.
Do Banks Offer 100 thousand USD Consumer Loans?
A report on the banking sector recently revealed that the financial sector contracted by 21%, in other words, the banks had difficulty in lending and even taking back loans from loans. In this respect, banks turned to lower-risk loans to reduce the amount of bad loans and started to respond positively to low-volume loan applications that seem to be reimbursable, especially for consumers with high credit ratings.
This is not good news in most cases for consumers who want to draw a consumer loan for an amount of 100 thousand USD. Because 100 thousand USD is a considerably high amount in terms of consumer loans that the bank can allocate to a person. Therefore, it is highly likely that your application to the bank will be answered negatively in this process. Therefore, it is necessary to understand how much you can apply for before applying.
How Much Needs Loan Can I Get?
The unlimited human needs brought some cash needs together. recently, banks operating in order to meet the cash needs of people have been the first field for individuals to apply for their cash needs. In other words, if you provide the necessary conditions to attract credit, you can meet your cash needs through banks. As is known among loans, the most preferred consumer loans are given only up to a certain limit. However, if your credit rating is at the desired levels, you can use general purpose loans up to 100 thousand USD through Banks that provide 100 thousand USD in general-purpose loans.
The general purpose loan you can withdraw must be in direct proportion to your income and assets. Most of the reviews that the bank performs while providing consumer loans are whether the person can repay the related loan product, and if not, what kind of a process will be faced. For example, Ali, who has 6 residences worth 300 thousand USD, is very likely to respond positively to the bank by applying one or both of these houses to the bank, because the bank can sell the mortgaged houses legally if the debt arising from the related loan is not repaid also knows that you can borrow money.
However, it should be remembered that the bank will act more cautiously, as we realize that the housing stock has increased in the process we are in, the house purchases have decreased and therefore the houses are becoming more and more liquid.
Banks assume that 25% of the monthly income can be used to pay the loan and want to understand the consumer’s spending. It performs the calculation according to disposable income and tries to understand how much the consumer consumed from the loan products used in the past periods and whether the customer receives a proof of income.
For example, if Veli, who has an income of 10 thousand USD, spends 5 thousand USD per month, the amount that Veli can save disposable income is equal to 5 thousand USD that is not spent. Therefore, Veli can easily use 25% of this income to pay loan installments, which corresponds to 1250 USD. This is a guarantee calculation method. If Veli has a very high credit rating and has mortgage assets, he can convince the bank for 2000 installments for monthly installments, which corresponds to 96 thousand USD with a maturity of 48 months.
So, if you want to withdraw 100 thousand USD, you should have a high income like Veli’s and you should be able to give various collaterals or mortgages to the bank. This applies to consumer loans.
Why is there not a general-purpose mortgage loan?
As a principle of social state understanding, mortgage loan has legislative flexibility in order for all household rights to become homeowners and enables banks to lend with higher risk and higher maturity. An important detail to know is that banks are not as free as expected.
Banks have to act in accordance with the banking regulations in the loan to be given to the consumer and these conditions are very strict for the consumer loan, whereas not so strict for the housing loan. Therefore, while a mortgage loan can be given with a high limit, consumer loans may not be granted. Or it can be expected to be like Veli in the example above.