What do bank loan applications require?
When applying for a personal or bank loan, there are certain requirements that the consumer must meet in order to be approved. The minimum requirements are generally that the applicant is over the age of 18 and is a South African citizen. You will need to provide a copy of your green bar-coded ID book for this. If applying for a loan through a bank, you will generally need a good credit rating, as many lenders rely on this as a sign of a reliable debt holder. Finally, proof of income and employment will be required for most loan applications.