• Be at least 18 years old: that is, be of legal age; In addition, we must have a valid DNI.

• Demonstrate solvency and regular income: it is basically about showing the bank that we are going to be able to repay the money it lends us, and for them our monthly income (payroll, pension, etc.) must be -at least- higher than the loan installments.

• Offer payment guarantees: normally for the amounts that are handled in personal loans, it is not required to present a guarantee; This means that you will have to face, with your income and your personal assets, the payment of all the debt up to its last consequences, and it will be on this that the bank will look to decide whether or not to lend us the money.

• Not being included in a delinquency list: being on lists such as ASNEF or RAI or currently having defaults in our credit history will most likely make our bank deny us the loan; however, there are private loan companies that do accept clients included in delinquent lists, although their interests are higher than those of the banks.

What additional documents and requirements can I be asked for?

 

Once we have verified that we meet the above requirements, we can consider going to a financial institution to apply for the loan we need; But is there anything else you're going to ask me for? Well, here again we find that the criterion depends on each entity, and may require more or less documentation also according to our profile or depending on the amount of the loan.

 

For example, it is usual to have to provide our NIF or NIE, and a bank account number where the loan will be deposited once granted; It is also common that we are required to present the latest payroll or a document proving any other regular income we have, and even our work history or our employment contract (much better if it is indefinite, of course).

 

Other documents to provide can be the last income statement that we have made, or a simple copy of the properties in our name (land, houses, premises, etc.), as well as any information about other outstanding loans. If instead of working as an employee we are self-employed, the bank can ask us for the certificate of registration as self-employed, the last annual VAT declaration, and the detail of the last income tax payments.