5 simple things to help you get your first loan......
1. Have a savings plan.
Make sure you have made an effort to save some money on your own - no
matter how small ie $50 per pay for example.
It’s not about the amount it’s about showing you have discipline and can
commit to something.
2. Not having borrowed before won't disqualify you.
You don't have to have a credit rating to apply for a loan - if you
have been able to maintain your lifestyle without getting into debt
and shown the ability to maintain a consistent savings behaviour, which
is more telling than a credit rating.
3. Keep your Credit Rating Clear
Do not allow yourself to get into unaffordable debt via mobile phone
commitments - once a bad repayment history or default judgement is
listed on your credit record it will stay there for 7 years.
4. Be organised
Bring your salary slips and statements of accounts to the interview.
5. Should I save or should I Borrow
Make sure that what you are borrowing for is in line with your
lifestyle and ability to repay. Think seriously about the fact that
the item will in all probability cost you three times it’s value by the
time you pay it back - do you really want it that much? Maybe you should
save for it rather than borrow.
Sue and the Team at Murrumbeena Community Bank are ready to help you through the process - we promise to keep it simple!
Contact us on 03 95688166.
Last Modified on 05/06/2012 11:51