The bombardment of pre-granted loan offers that until a year ago reached the mobile phones and computers of bank clients has stopped.
The economic crisis unleashed by the coronavirus pandemic, which has further reduced the narrow margins of banks, and the increase in the unemployment rate has meant that, before the pandemic, the percentage of customers who were given a Pre-granted credit was 90%, now it is 60%.
But not only are there fewer offers, but the ones that do exist are increasingly ‘exclusive’. They are focused on premium clients with buoyant accounts, who are former clients of the bank, who do not have other outstanding credits and whose work has not been compromised by the pandemic, according to a study carried out by HelpMyCash that covers from February 2018 to February this year.
Amount and interest
Of the pre-granted loans, in 17% of the cases their amount is up to 10,000 euros, 33% give between 10,000 and 20,000 euros and 50% grant more than 20,000 euros. While the average interest required is 9.8% APR, above the current average for consumer loans that the Bank of Spain places at 7.752%.
According Agustina Battioli, analista de HelpMyCash, each offer is personalized depending on the profile of each client: “The same bank could offer 30,000 euros at 6% to one client and 5,000 euros at 10% to another.”
Source
The pre-granted loans arose as a response from the banks to compete with the fast loans granted by private capital entities.
They are personal loans that the bank offers to its clients without their having asked for them. The entity analyzes its profile of income, expenses, savings and the relationship with the entity and decides how much money it can lend them and at what price.
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