Affordability Assessment

What are the documents we need?

Affordability Check

We need documents like 3 months bank statement, and credit score report.

Assessing a borrower's eligibility for a loan requires an "affordability assessment" to determine if they can comfortably afford repayments. This helps prevent them from taking on loans they cannot repay. Factors considered include income, expenses, and outstanding debts. This practice promotes responsible lending and reduces the risk of defaults and financial hardship.

How to assess borrower's affordability?

Our analysis of transaction data from bank statements enables lenders to obtain a comprehensive risk profile that evaluates a consumer's capacity to pay and affordability.

What can you do with the affordability data?

The borrower affordability will determine how much the loan size can be.