Modern first names reduce the chances
The name Kevin comes off the worst. Only 61 percent of men with this first name receive one or more financing offers. For men named Marcel, 65 percent receive an offer. Those interested in credit who are called Nico or Pascal have slightly better chances. 67 percent of men with this first name received a financing offer. Almost 50 percent of the women, named Jasmin, are granted a loan. Applicants named Jessica or Michelle are slightly more likely to receive a loan. The supply quota here is 60 percent.
Men named Dirk have particularly good chances of getting a loan approval. Only about every tenth financing request ends here without success. Among all female persons included, women named Birgit have the highest chances of receiving a bank offer (81 percent). Of all consumers who submitted a loan request via the Verivox portal, 72 percent received at least one financing offer.
Relationship between age, first name and employment
The question that arises here is why does the probability of obtaining loan financing correlate with the consumer’s first name? Oliver Maier, Managing Director of Verivox Finanzvergleich GmbH, told Verivox that the first name of the interested party does not play a role for the bank when examining a loan request. Rather, it is the age structure that is responsible for the disparity in the supply quotas. That is why there is a lower supply rate for such names, which are particularly common among younger adults around the age of 30. Such first names, which are more common among 45 to 55-year-olds, are therefore more likely to receive a financing offer. As Oliver Maier emphasizes, the criteria of security and monthly income play an important role when assessing creditworthiness. Maier cites the fact that young people work more frequently in fixed-term contracts and earn less on average than older people whose careers are more advanced.
M. Wieser / editors finanzen.net
Image sources: Bjoern Wylezich / Shutterstock.com, Andrey_Popov / Shutterstock.com
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