What is a pre-approved loan?

A pre-approved loan is one that the bank offers to the end user, usually a customer of the bank, without any prior request. The advantage of these loans is that they are processed very quickly, since the bank has conducted a prior assessment of the customer's financial situation and places a maximum amount at their disposal, which it considers to be feasible.

Just because a loan is pre-approved does not necessarily mean that the consumer will receive it. First, they must accept the offer, and then the bank will carry out some checks to verify that the customer's creditworthiness has not deteriorated since the time the loan was pre-approved. Once these checks have been carried out, the loan is finally granted or not.

The more the customer is connected to the bank, the easier it is for the bank to pre-approve the loan, although it is not a guarantee in all cases. By using our personal loan simulator you can find out how much you could get and the monthly repayment schedule that best suits you.


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