Banks want to have a regular income and individuals and institutions applying for loans and to whom they will give credit and to make risk analysis on this income. Therefore, anyone with a documentable income can benefit from loan products as they wish, in direct proportion to their financial volume.
People who receive widow and orphan’s pension can also use loans because they have a documentable income, but there are some details that need attention. Now, let’s transfer to you the details of whether a loan can be drawn with a widow and orphan’s pension.
Can Widow Salaries Take Credits?
People who receive widow salary can go to bank branches to apply for a loan if their income can document. Loan applications made will be evaluated like other loan applications and will be concluded after the investigation.
In this context, the credit rating obtained by the commercial relations with the banks in the past will determine how much credit can be used by consumers who can use loans by installments in a way that does not exceed 50% of their income. Consumers with higher credit ratings will be able to use loans with a maximum limit, while consumers with lower credit ratings will be limited.
Can Those Who Receive Orphan’s Salary Attract Credits?
Every consumer who receives an orphan pension over the age of 18 can submit loan applications and use loans. Loan applications will be examined in a very short time and will be concluded. The amount of the loan will be allocated will determine the credit rating and total income.
In this context, consumers who cannot pay more than 50% of their documentable income in installments must have a high credit rating in order to be able to use credit with maximum limit.
Banks That Provide Loans Without Income Documents
It is possible for the consumers, who do not want to use credit with their documentable income, to send credit applications to banks that issue loans without income certificates, regardless of whether they are widows or orphans.
The banks in question generally accept the loan applications made via the internet or call center, and after evaluating them according to their credit ratings, decide whether to allocate them or not. Consumers can effortlessly conclude their loan applications within a very short time.