Pre-granted loans, pre-approved loans,… .we never stop seeing them advertised on all sites, especially in banks.
The question we ask ourselves is, do you know what pre-granted loans are?
Because in the title of the article we refer to financial marketing when we talk about this financing.
Next, at MaoriArt we are going to answer these questions.
Pre-granted loans What credits are these?
These are bank loans where what the bank does is approve a loan even if its client has not requested one.
It may seem a bit strange but this is because you do not know the operation of these pre-approved credits .
Let's say that what the bank does here is analyze the financial situation of the clients of its branch and then approve loans to those it considers more solvent.
With this, therefore, we can already make a filter when talking about these credits, to be able to process one of these loans you have to be a client of the entity.
If you are not a bank customer, you will not be able to access one of their pre-granted credits .
Who can access the pre-granted credits?
Those people who are bank customers and their entity make said loans can access.
What has to be very clear to you is that you as a client will never be the one who requests one of these credits.
There is the grace of the pre-granted loans , in that it is the same bank that approves the operation without you having asked for it.
If you intend to process one of these credits that you know it will not be possible to do so, you can process another type of loan but never this one.
In order to say that you have a pre-approved loan, the bank must approve it without having made any request.
In practice, only the most solvent clients of each financial institution end up obtaining this financing.
Banks of course do not inform clients who have been denied credit about this, they only inform those who have been approved for the loan.
This explains why banks are so interested in signing these loans, because through them banks reduce the risk in the operation.
When signing personal loans only to creditworthy clients of the entity, the delinquency rate is practically zero.
That is why they are one of the most interesting loans from the point of view of the bank that offers them.
However, behind this interest in signing these loans there is also some financial marketing.
Pre-granted loans and Marketing in banking entities
We can say that pre-approved loans are a very good marketing tool to attract customers.
If you enter the branches of any bank, one of the first things you will see is how they offer these loans to customers.
It is a pretty good business tactic to try to attract clients who are looking for financing.
By not saying the banks also when they do the study or analysis to the clients (to approve loans) they manage to retain many clients.
It also influences the fact that there are people who when they hear about pre-approved loans, they imagine a different type of credit than they really are.
That is our opinion about these pre-granted loans being used many times for marketing purposes with the idea of attracting new clients in the bank.