As a personal loan hub, we understand that our clients need quick access to funds to meet their financial obligations or goals. That’s why we are always looking for ways to speed up the loan application process. One of the ways in which our clients can help us to do this is by submitting their bank statements in the correct format.

Bank statements are an important part of the loan application process as they provide evidence of a client’s income and expenses. This information is used to calculate their affordability, which is a key factor in determining whether they are eligible for a loan and how much they can borrow. However, not all bank statements are created equal. To be accepted by our lenders, bank statements must be downloaded from a client’s bank account or emailed to them by their bank. We cannot accept statements that are printed and scanned, as our lenders use specialized software to extract the necessary information.

In addition to submitting bank statements in the correct format, it’s also important that clients provide the correct timeframe. We require a 3-month bank statement for loan application assessment, and this statement must be current and not older than 7 days. This means that if a client applies on the 11th of April 2023, they will need to submit bank statements from 11th January 2023 until the 10th of April 2023. By providing this information in a timely manner, clients can help to speed up the loan application process and receive their funds sooner.

We understand that providing bank statements can be a sensitive matter for some clients, which is why we take great care to protect their personal information. All information provided is treated with the utmost confidentiality and stored securely in compliance with data protection laws.

In conclusion, submitting bank statements in the correct format and within the correct timeframe is a crucial part of the loan application process. By doing so, clients can help to speed up the process and receive their funds sooner. We encourage all our clients to carefully read and follow the guidelines outlined in this article to ensure a smooth and efficient loan application experience. If you have any questions or concerns, please do not hesitate to contact us for further assistance.