MM's experience of receiving night calls for free money is something that a few could hardly desist.
The banks sell their products and while doing so, they essentially evaluate each and every loan proposal on the key default risk parameter of "Debt Service Ratio or DSR".
They put together your total borrowings along with your monthly installments, and then divide it by your salary, thus reaching out to a DSR, thereby pre -knowing about your ability to repay the new loan.
So if you have a DSR of less than 50%, the bank is highly ready to approve your loan request or vice versa. The bankers always book a "calculated risk" and they know it that someone with a salary of Qar. 10 000 and an existing DSR of 50% (i.e. existing installment of Qar. 5,000 per month of previous loan), cannot afford to repay the new loan installment, and soon he would default.
Because as a general rule, each borrower needs ATLEAST 50% of income to cater to his personal and family expenses.
MM's experience of receiving night calls for free money is something that a few could hardly desist.
The banks sell their products and while doing so, they essentially evaluate each and every loan proposal on the key default risk parameter of "Debt Service Ratio or DSR".
They put together your total borrowings along with your monthly installments, and then divide it by your salary, thus reaching out to a DSR, thereby pre -knowing about your ability to repay the new loan.
So if you have a DSR of less than 50%, the bank is highly ready to approve your loan request or vice versa. The bankers always book a "calculated risk" and they know it that someone with a salary of Qar. 10 000 and an existing DSR of 50% (i.e. existing installment of Qar. 5,000 per month of previous loan), cannot afford to repay the new loan installment, and soon he would default.
Because as a general rule, each borrower needs ATLEAST 50% of income to cater to his personal and family expenses.