Are you thinking about applying for loan but don’t know what type of documents will be required in this process?
In order to analyze your case and the risk that a possible loan represents for them, banks require some documents.
These are even mandatory for banking entities to be able to provide an answer regarding the viability of the process and its conditions.
The documents requested by the bank vary from credit to credit, but there are some that apply to all types of financing.
1. Identity document
First of all, you must prove that you are who you claim to be. To do this, you must provide a copy of your citizen card or identity card. If you don't have Portuguese nationality, you must present your permanent residence permit.
2. The last 3 salary receipts;
Salary slips will allow the bank to calculate your effort rate, checking that it isn't higher than recommended. It's through the values presented that the banking institution will be able to analyze whether or not you will be able to pay the monthly tuitions of the credit.
3. Declaration of Effectiveness or Employment Contract
This document will allow the banking institution to know whether or not you're working in the company, thus being able to calculate the risk you represent for the bank if your contract is temporary and, therefore, after a certain date you will be without income.
4. Bank statements from the last 3 months (from the account where you receive your salary)
These are used by the banking institution to confirm that the amount described on your pay slips is, in fact, what you receive. Furthermore, analyzing your bank statements allows the bank to know how you manage your money – whether you have money in your account, whether you place bets online, whether your salary is enough to cover your expenses, etc.
5. Credit Accountability Center
This document covers all loans granted to you by banking entities, with a value equal to or greater than 50€. Information registered by Banco de Portugal and which allows you to know whether you're complying with payments on your credits, if you have any.
To obtain your credit liability map, access Banco de Portugal and accept the conditions. You must then authenticate with your credentials and save the file in PDF format.
6. Personal Income Tax and settlement note
These documents will allow the bank to know your overall income, the respective deductions, exemptions and payments – late or not.
To obtain this document you must access Portal das Finanças through your authentication and search for “certificates” in the search bar. Then select the option “Request certificate” and choose “Personal Income Tax settlement” as well as the year you want.