The introduction of the new equity guidelines, colloquially also called Basel II, after the place where they were created, has brought about significant changes in the banking business. In the area of loans in particular, banks must now take a better and closer look at the risks associated with lending. The reason for this is that the amount of the capital requirement for a loan largely depends on this risk. The more risky the loan, the more equity the bank has to put up for this because the likelihood that the customer will become insolvent during the term of the loan and therefore default on the loan is relatively high. The banks use so-called scorings for the risk classification in both the private and business customer segments. Here, a total point value is determined for each customer from different factors, which is between one and six. The lower this value, the better, because the better the credit rating, i.e. the creditworthiness of the customer.
The scoring itself consists of different key figures, the weighting of which differs from bank to bank. The scorings are not uniform for every institution, rather each bank has determined a scoring system for itself, which often even the advisors of the banks cannot see through. However, it is the same for every scoring that the consultants need data such as job, length of employment, residence status, place of residence and marital status. This data is usually entered directly into a computer program during the credit interview, which then determines the score.
How to get a quick loan
With this, the banks are aiming for a quick loan, because if the credit rating is sufficient for the loan and the customer wishes it to be concluded, the loan contracts can be printed out and signed straight away. In addition to the bank’s internal scoring, Credit Bureau’s data is also used. This itself determines a score value, which is made up, among other things, of the number of loans granted to date and the repayment. Banks generally adopt this score one-to-one. The scoring not only has an impact on the lending itself, but the banks also use it to determine lending rates. The higher the score, the higher the customer has to pay, because the risk for the bank is higher.
However, the interest surcharge the bank charges varies individually. If a scoring is created in the business customer area, in addition to the personal data of the customer, data of his branch are also received. For this purpose, the banks mostly use external ratings, which are included in the scoring. Conclusion: Due to the very different scorings of the banks, it is possible that the calculated interest premiums also differ. Furthermore, the same customer can receive a rejection of his credit request at one bank, and the loan is approved at another bank. Therefore, customers should always obtain several offers in order to be able to compare.