What is a Pre-Approved Loan? How to use?

Credit, which is one of the most common services for customers who request financial solutions from banks to meet their needs, is offered to the customer after a process in which certain conditions are evaluated for approval. With the effect of developing technology and widespread digitalization, credit evaluation processes become much easier, and credit applications of customers are evaluated through online channels in the first place.

Customers who want to request a loan can now apply for a loan without having to go to the branch, and can provide a quick assessment of the loan application, even if it is not always final. If you want to apply for a loan without going to the branch, let’s take a look at the answers to the questions of what a pre-approved loan means and how to get it.

What is a Pre-Approved Loan?

A pre-approved loan is a loan that is deemed appropriate as a result of the initial evaluation made by the bank for customers who request loan products. If there is a positive evaluation in loan applications made via phone, internet, mobile application or text message, loan pre-approval is provided for the customer. At this stage, the application may also be rejected and the process may end.

The pre-approved loan service, which saves time and makes it easy for customers to complete their loan transactions within minutes without going to the branch, is only provided for certain loan types. However, for the approval of the pre-approved loan, there are some procedures, conditions and documents that must be submitted when necessary.

Which Loans Have Pre-Approval?

You can apply for certain loan types within the scope of Garanti BBVA Fast Loan, where you can get pre-approval if you apply easily and meet the necessary conditions.

Personal finance credit

You can apply for a Personal Consumer Loan through Garanti BBVA Mobile to use it in areas such as education, health, work, vacation and shopping. If you meet the necessary conditions and have submitted your documents in full, you can quickly get pre-approval for a pre-approved loan application.

shopping credit

Thanks to the pre-approved Shopping Loan provided by Garanti BBVA, you can shop quickly, safely and easily from Turkey’s most important e-commerce sites. With Garanti BBVA’s pre-approved loan, which stands out with its favorable payment terms and interest rates among pre-approved banks, you can purchase hundreds of products on e-commerce sites with installments. The amount provided to you from the bank during the shopping loan is transferred directly to the organization providing the e-commerce service and your payment is completed for the product you purchased.

If you want to take advantage of the pre-approved shopping loan, you can easily apply through Garanti BBVA Internet Banking without the need to pay insurance/allocation fee and income statement.

Debt transfer – debt settlement loan

By taking advantage of the pre-approved Debt Transfer loan, you can collect your personal debts from other banks under one roof at Garanti BBVA at affordable rates. Within the scope of pre-approved Debt Transfer, you can benefit from installments up to 36 months and you do not pay any file costs for debt transfer. You can get help from Garanti BBVA Mobile or 444 0 335 Instant Credit Support Line for pre-approved credit inquiries.

What are the Required Conditions for Credit Pre-Approval?

There are some conditions that you must meet in order to apply for a Garanti BBVA pre-approved quick loan:

• You must be over the age of 18 and a Garanti BBVA customer for a quick loan application and withdrawal process.
• Your credit rating and risk report determined by the Credit Registration Bureau (KKB) must be at appropriate levels to get a loan. For this, it is beneficial that you have made your payments regularly and that you have not fallen into legal proceedings.
• You must submit an income statement and payslip. If you are a fixed-wage and insured employee, you can easily verify your income.
• If there is a mortgage and you are married, you must present the official permission document proving your spouse’s approval.

How to Get Pre-Approved Credit?

If you want to benefit from Garanti BBVA pre-approved loan, you need to fill out the loan application form for Personal Consumer Loan through digital channels. At this stage, you can complete your loan application by specifying how much loan you want and the installment period you want.

In order to take advantage of the shopping credit, you may want to consider the Shopping Credit option as a payment option when shopping from e-commerce sites that offer services in agreement with Garanti BBVA. For debt settlement or debt transfer loans, you can get support via Garanti BBVA Mobile and Garanti BBVA Telephone Banking.

After the Credit Pre-approval, is the Credit Granted?

After you apply for a pre-approved loan, if you get a positive result, your information will be checked by the bank. If you submit the documents proving the accuracy of all the information you transferred to the bank during the pre-approval, a new process begins. In this process, the confirmation and validity of the documents are questioned.

According to the criteria determined by the bank, the information you submitted during the application, the documents and the details of the loan you requested are examined. If all processes are positive, you must approve the digital contracts presented to you in order to use your credit. Then your credit will be transferred to your account and you can use it as you wish.

Why Pre-Approved Credit Is Not Excluded or Canceled?

Why Doesn’t Loan Get Pre-Approval?

In some cases, pre-approved loan applications may not be accepted or finalized. In these cases, factors such as bank policies, customer’s credit rating, track record, indebtedness and mortgage status come to the fore.

Here are some of the factors that affect the rejection of pre-approved loan applications:

• The customer’s credit rating and risk status are not deemed appropriate according to the bank criteria,
• The customer’s income status and the loan conditions applied for do not match in terms of payment regularity,
• Payment difficulties and irregularities in past credit products,
• Being on the black list due to payment performance in past credit products,
• A certain number of credit product applications have been rejected in the past.

Even if you have pre-approved, this does not mean that you can definitely use the loan. The loan pre-approval process is seen as the first step in obtaining a loan. The main purpose of the loan pre-approval application is to save time for customers and to facilitate their referral to different alternatives when necessary.

In addition to these, if you do not want to use your pre-approved credit, you also have the opportunity to cancel your credit. If you do not want to use the pre-approved loan provided by your bank, you can request the cancellation of your loan application by contacting your bank. If you do not use your pre-approved loan and do not request cancellation by contacting your bank, your pre-event loan will be canceled automatically within 14 days.

What are the Documents Required for a Pre-Approved Loan?

Documents you need to submit to use a pre-approved Fast Loan through Garanti BBVA:

• TR Identity Card
• Social Security Institution (SGK) breakdown
• Payroll

You can deliver these documents to the bank by hand, or you can easily upload them to the system during the online application.

Garanti BBVA always stands by you, its valued customers, with its privileged financial solutions. If you want to apply for credit products with favorable payment terms and interest rates when you need it, you can become a Garanti BBVA customer right away via Garanti BBVA Mobil and 444 0 333 line; You can benefit from the privileges of Garanti BBVA world.