Bank credit

A bank credit is the monetary amount that a financial entity makes available to its client, individual or
company, agreeing on the conditions of repayment of the amounts drawn on the total.

Therefore, it is nothing more than an amount of money that a bank allows us to use, having to return
only the part we spend. Therefore, the bank opens us a credit line and we have the necessary part.

Obtaining a loan is usually a simple process. All banks allow their customers to apply online on their
websites. But let's look at the most common steps:

First, the application. The customer accesses his account on the website and requests the amount and
conditions of the loan.

When the bank receives the proposal, it carries out a feasibility study. On the other hand, it also verifies
that your client does not appear on delinquency lists or similar.

Once the credit is approved, an entry is made in the associated account and the contract and, if
applicable, the card is sent to the customer. This document specifies duration, renewals, credit interest
on the amount drawn down, total amount or commissions.

The customer reads the contract and signs it if he/she agrees. From this point on, he/she will be able to
use the money to make payments or purchases.

https://www2.deloitte.com/mx/es/pages/dnoticias/articles/panorama-del-credito-bancario-2021.html