Bank experiences – Private Lending Money
How does the credit application process work?
Via the Bank website, a borrower can apply for a credit online in a few simple steps.
- Step 1: Registration on the platform, entering personal data and information about financial situation.
- Step 2: Bank performs a credit check and sends the potential borrower a conditional credit agreement free of charge and without obligation.
- Step 3: If the borrower agrees with the credit agreement, we will request documents to verify the application.
- Step 4: If the verification process is successfully completed, the credit application will be published on the platform. In most cases, a credit project is funded shortly after publication, after which the credit sum is paid to the borrower.
How does Bank calculate the interest rates of the credit projects?
The interest level of a credit project is adjusted by Bank to the borrower’s risk classification and the term of the requested credit. The exact interest is calculated individually for each project. A fixed rule is that
that a higher interest rate is charged on a credit with a longer duration and / or a higher risk classification.
Earnings model Bank?
Borrowers pay a one-off administration fee. This reimbursement amounts to between 0.50% and 3.75% of the credit sum and is deducted from this amount before it is paid out. Investors are charged a service fee of 0.5% – 1% over the monthly amounts they receive.
What are the requirements for becoming a borrower on the Bank platform?
Every adult resident in the Netherlands who has a Datch bank account can apply for a loan at Bank. However, a borrower may not reach the age of seventy during the term of the desired credit. Whether a credit application is approved also depends on the assessment of the creditworthiness of the applicant.
Is borrowing via Bank safe?
Yes, Bank is supervised by the MFA and meets the strict requirements set by the Credit Supervision Act. The Bank systems also meet strict security requirements and data processing is with the College for Protection
Personal data registered.