What do online bank loan applications require in Durban?
In the past, financial lenders have set very strict criteria for Durban bank loan applicants to meet. The main requirement was credit score, which banks weighted heavily when considering the consumer’s application, as they believed this indicated the likelihood that the consumer was a risk. However, in the past few years, with the advent of online bank loan applications in Durban, the golden standard for getting a loan approved has become “affordability.” This is the measure of a consumer’s financial means for repaying a given loan, as calculated by their income, less expenditure. We use affordability to approve your loan, so poor credit consumers are welcome to apply with us.