When a customer undergoes a Pre-Approval Test, they discover the loan amount they are highly likey to be approved for, based on their financial profile.
Introducing pre-approvals with PLIM
2 Points
This article explores the concept of the Pre-Approval Test and Pre-approved customers on PLIM and how it impacts their eligibility for financial services.
Understanding Pre-Approval Test (PAT) Approved Customers
Validity and Terms
The pre-approved credit amount resulting from the test remains valid for 60 days. It's crucial for customers to utilise this window by paying the deposit for a BNPL (Buy Now Pay Later) loan within that period. After 60 days, the pre-approved amount will expire. Significant financial decisions may impact this limit, and there's a rare chance of ineligibility for certain BNPL loans
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