As a consequence of inflation, the dollar and the high interest rates of the financial entitiesthe purchasing power of Colombians has been affected.
As indicated by the last Quarterly Financial Inclusion Report (RIF), of the Bank of Opportunitiesthe number of adults with at least one financial product of deposit or credit reached 34.5 million, which corresponds to 92.1% of Colombians of legal age.
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However, a very low percentage can still be observed in terms of credit productssince of that total, only 36%, that is, 13.5 million Colombians, have at least one product of formal financial credit.
From Enbanca, the Colombian fintechmade some recommendations for request a loan and increase the probability of approval:
1. Know your ability to indebtedness and ability to pay, before applying for a loan. This is how you will have a balance on income: current expensescurrent debts and fixed expenses, taking into account the interest to payto avoid falling into defaults due to late payment.
2. The ideal is to allocate up to 40% of the income to pay debtssince the key is to have control over your income and expenses.
3. Financial education is essential, as it provides people with the tools needed to make informed decisions. This includes learning to budget, save, invest and effectively manage your personal finances.
On the other hand, the platform Enbanca allows any natural person to consult their credit score, which ends up being a requirement that is important for banks.
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Since, it is the calculation of the information entities and Central risk with which they predict an eventual probability that a person requesting a loan will default or not.