Requirements to Request Loans from Banco Estado: Process, Types and MORE

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The Requirements to request loans from Banco Estado, You can review them here if you are thinking of going to a financial institution to request loan money.

Whether you want to start a small business, pay off a debt, buy a vehicle, equip a house or acquire the home of your dreams. Whatever reason is valid for wanting to start a credit relationship with a bank. But do not think so much and take action, the State Bank offers you the best credit possibilities.

Process for Requesting Loans from Banco Estado

After the applicant looks for different options and has made the decision to request a loan from the State Bank.

The loan application process starts with:

  • The simulation to request the loan for the amount and fees that you want. The Banco Estado on the website has the credit simulator available. Of course, what the simulator shows is an estimate, since it all depends on the amount, the term and the type of client.
  • Subsequently, it is to make the request directly online for personal credit. You can also visit the nearest bank branch.
  • Then the Bank will evaluate the client and the documents delivered, the State Bank will respond to the request. Then they will communicate with the client to notify him of the answer and if it is positive, he will be informed of the amount and the credit conditions.
  • The client is suggested to review all the conditions established by the bank prior to signing the contract, if you agree.

Below are the requirements that must be met to apply for a loan to Banco Estado.

The Requirements to request loans from Banco Estado are as follows:

  • Must have 18 years old As minimum.
  • Be Chilean, if foreigner must have a residence time greater than one year permanent.
  • Be a citizen without debts or commercial credits.
  • Have income within the following ranges: self-employed workers income greater than 200,000 pesos and independent workers income over 350,000 pesos.
  • To have labor Old: dependent workers must have at least one year in current employment or have an indefinite contract, or six months of indefinite contract. For private company workers, they must have a payment agreement. Independent workers must have one year of starting operations of activities with an income tax return.
  • Be a suitable person for the credit evaluation.
  • Confirm the address.

Documents Needed to Request Loans from Banco Estado

Within the Requirements to request loans from Banco Estado We find the necessary documentation to make the request, this is the following:

  • Present the identification document valid.
  • Certification of income of the applicant and proof of employment seniority for workers under a dependency relationship.
  • Present the last three liquidations for clients with fixed or variable income.
  • If the settlement does not specify the date of entry of the applicant, then you must submit a certificate of seniority.
  • You must submit the last 12 health quotes, or the AFP, INP certificate.
  • Independent workers must present the certification of income and work seniority.
  • Deliver PPM Fee and Disclosure Bulletin of the last semester.
  • Extract from the ballots issued by the SII.
  • The last tax return.
  • Certification of income for those who are rentiers.
  • Have the hiring the lease and present it notarized and not less than one year old.
  • Deliver the domain certificate de properties subject to lease.
  • Present six-month voucher history with the figure established for the lease, or also the notarized contract where the validity of the lease contract is stated.
  • Validation of the address presenting proof of contributions or payment of dividends.
  • Make delivery of bank or store statements or large establishments.

Types of Credits

A loan granted by a financial institution is an operation in which the bank lends the applicant or client an amount of money that they will use for a personal or business project. Of course, with the commitment to repay the amount given in loan, under a series of conditions that imply interest and term.

Banco Estado offers various types of credit, facilitating the life of the Chilean and the possibility of financing themselves. In the Requirements to request loans from Banco Estado the types of credit that customers can access.

According to the destination of the credit, Banco Estado classifies the credits as follows:

  • Education Credit: used to finance a career or the completion of a postgraduate degree.
  • Personal Credit: is one whose destination is to finance a personal project, which can be a trip, studies, debt payment or others.
  • Also the so-called Mortgage Credit: whose destination is aimed at financing the acquisition or construction of a home.

Mortgage credits

The State Bank has a great variety o types of credits What to offer to its clients, but one of the most requested or at least that people are interested in information are those related to housing, whether it is acquisition, remodeling, if you have part of the capital, if you do not have any resources. In short, it is a sensitive area for the general population and also for financial institutions.

Banco Estado offers this type of credit according to the needs of each client. The Requirements to request loans from Banco Estado, in this particular a Mortgage Credit are:

  • You must have like minimum 18 years old.
  • You have to have excellent business relationships.
  • If you are a worker under a dependency relationship, you must have one year of work seniority, If you are an independent worker, you must have at least two years in the business, especially if they are service providers.
  • Present the Certification of income according to the employment situation.
  • Deliver the property history.
  • In Banco Estado, the approval is valid for three months for loans without subsidy and four months for loans with subsidies.

The entire process of requesting loans from Banco Estado does not turn out to be so complex, however, meeting all the requirements and presenting all the required documents is basic

Banco Estado offers various Types of Mortgage Credit, we then have:

  • Standard financing Eco-Housing with subsidy and without subsidy.
  • Financing credit from Mutual Mortgage Housing with own resources. You can even get up to 90% credit for the purchase of a home, both new and used.
  • Denominated credit Housing Financing – Subsidy which is access to the State housing subsidy, through the Ministry of Housing and Urbanism.
  • Financing credit Universal Mortgage MutualIn this case, the amount of the credit ranges from 1000 Development Units to 5000 Development Units.
  • Likewise, the State Bank has the refinancing of housing, it can do it to reduce the number of years of the credit, or the amount of dividends. You can refinance 90% of the credit.

Benefits of Borrowing from the State Bank

The State Bank offers magnificent possibilities of credit and provides facilities to the client, so that he can get the best out of the financing he is receiving.

Between the Benefits have:

  • Wonderful opportunity offered by Banco Estado.
  • Possibility of qualifying for higher credit if supplemented with the spouse’s income.
  • The payment is made automatically in the current account, electronic checkbook or Rut account.
  • You have the possibility of making the payment of the first installment up to 3 months later.
  • You can choose two months of the year, which are not consecutive, so as not to pay the corresponding fee.

What is it?

The credit can be called that it is an agreement, contract or financial operation between two parties. In this case, between the individual and the financial entity where money is granted to finance something or someone, under certain parameters or conditions that must be met and where the creditor obtains a profit from the intermediation.

Credit when used responsibly is fabulous, since it allows you to make payments, finance purchases, purchase homes, start business, etc. The possibilities are many.

Of course, when someone is interested in making a credit application, they should check what the market offers. The alternatives offered by the different financial institutions and the best opportunities to start having a good credit history should be analyzed.

So, it is advisable to review credit possibilities, be clear about the destination of the resources that the applicant will receive and how they are going to be used profitably. Likewise, how will the return of the use of that money be to make payments and the fees to the bank that granted the loan.

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