Home energy efficiency loan

Credit rating is formed by evaluating and summing up various criteria according to a special formula - credit history, income and expense ratio, length of service in the current job, type of income source and other factors. Each customer is getting an individual credit rating. Based on this, the bank determines the level of a person's creditworthiness, the available interest rate and the available lending services.

If a person applies for a consumer loan, the bank checks the submitted data. It checks the client's income indicated in the questionnaire, and it is evaluated whether late payments have been registered. If the debt was more than two years ago, the credit rating will be better than for a recent debtor or an existing debtor. This means that everyone can improve their creditworthiness by paying off their debts.

1. Yes, you can get a consumer loan regardless in which bank you receive your monthly income, and even if you are not yet a Citadele customer.

As elsewhere in the world, Citadele determines a person's credit rating by evaluating and summing up various criteria according to a special formula.

• No delays for loan and other monthly payments;
• Official income level, stability
• Monthly payment volume comparing to income level

These are the main criteria on which a good credit rating is based on, therefore allows to get a loan with a lower interest rate. Credit rating is also positively affected by age. Over the years, people become more responsible and can get a better loan offer from the bank.

In about 30% of cases the reason for rejection is late payments, which are registered in one of the registers. In another 30% of cases, the consumer loan is denied because of insufficient income level for additional obligations. It is important to be aware that only official income is taken into account. In another 25% of cases, the deny of a consumer loan issuing is related to the fact that a person already has too many loans.

Yes, you can repay the loan fully at any time and free of charge by writing an free form message in Internet bank or application in branch for early repayment.

Payment discipline - timely payment of credit payments and bills - is essential for building good creditworthiness. Therefore, even if you have a payment delay, you can change this habit and improve your credit rating. Creditworthiness will also be improved by settling already overdue payments. Even if a person has been registered for late payment in a debt collection database, it is important that these obligations are closed at the time of the credit review. The status of an active debtor at the time of the loan review is much worse than the situation if you have had late payments, which are currently paid.

An important aspect is a stable, official and regular income. A workplace with several years of service will improve your credit rating, but it will also be a good credit rating if you have passed the novitiate period at work and have been working for some time. It is better to wait and not take credit during the novitiate period. By the way, Citadele customers who have been transferring their monthly income to Citadele's account for more than three months can receive a consumer loan with a reduced rate.

The monthly payment from your Citadele bank account will be deducted automatically, but by the date of payment, it must be ensured that the required amount of money is available in the account.