To make sure you can repay your loan, we need all sorts of information to assess your situation. Such a thorough assessment benefits both parties: it'll help prevent money worries for you, and we're more likely to get the money we lent back, plus interest. If possible, the information you provide us will be assessed straight away. We use your data to assess your application and keep it on hand in case we may need it during your loan term.
"}},{"componentType":"sectionTitle","title":"Checking if you'd be able to repay your loan"},{"componentType":"paragraph","richBody":{"value":"To assess your loan application, we need information about things like your income and expenses. You'll enter this information during your application for us to review. We try to mainly use the transaction details of your ING current account(s). These include transaction amounts, payment references and relevant transaction descriptions, such as:
Income
Mortgage or rent payments
Other ING loan repayments
Any alimony payments
Any childcare costs
Any car costs
If it turns out that you won't be able to make your loan repayments with your current income and expenses, your personal loan application will be automatically denied. You either won't receive a quote, or you'll receive a quote for a smaller loan. Learn more about the automated process.
We may need additional information about things like your income. In that case, we'll ask you for payslips or other relevant documents. You can also use the mobile delivery app to submit 12 months' worth of work and income information. You'll then receive a quote that's subject to change.
"}},{"componentType":"sectionTitle","title":"Risk profile"},{"componentType":"paragraph","richBody":{"value":"ING determines your risk profile as soon as you've applied for a personal loan (Persoonlijke Lening). This profile is based on empirical data, which our system uses to estimate how likely you are to repay your loan. Your risk profile tells us about your odds of making your loan repayments. Risk profiles help us protect both parties – we'd like to get the money we lent plus interest back, and we also want you to avoid money worries.
What we use risk profiles for:
To determine your interest rate
These decisions are fully automated. Read more about your risk profile here.
"}},{"componentType":"sectionTitle","title":"Central Credit Registration Office (BKR)"},{"componentType":"paragraph","richBody":{"value":"We’re legally obliged to perform a credit check. This will let us know if you currently have other loans or are in payment arrears, or if this has been the case in the past. The outcome of this credit check might affect your loan application. A negative credit listing means your application is more likely to be denied. If you do end up taking out an ING loan, you'll also be listed in the BKR's Dutch National Credit Register (positive credit listing).
Get more information about the BKR.
"}},{"componentType":"sectionTitle","title":"Applying for a loan together"},{"componentType":"paragraph","richBody":{"value":"In My ING, the second applicant will receive a request from ING asking for permission to make a fully automated decision about your borrowing capacity. You can also request a quote with no strings attached without the second applicant's permission. We'll then assess the second applicant's financial situation after you've received the quote, which could lead to the quote getting withdrawn.
"}},{"componentType":"sectionTitle","title":"How long we hold your personal data"},{"componentType":"paragraph","richBody":{"value":"Like we mention in our privacy statement (read the full privacy statement here), if no loan is taken out, we hold any personal data we've used for your loan application, including the quote, for 14 months. If a loan agreement is signed, ING will hold your personal data, including the offer, for up to 7 years after the loan agreement has been terminated.
"}},{"componentType":"sectionTitle","title":"Would you like know more about how we handle your data?"},{"componentType":"paragraph","richBody":{"value":"Feel free to call us or view our privacy statement.
"}},{"componentType":"linkList","iconTitle":{"title":"Questions about borrowing?"},"textLinks":[{"url":"/particulier/lenen/tarieven","text":"Current rates"},{"url":"/particulier/lenen/informatie-over-lenen","text":"Frequently asked questions"}]},{"componentType":"linkList","iconTitle":{"title":"Loans"},"textLinks":[{"url":"/en/personal/loans/what-does-borrowing-cost","text":"What does borrowing cost?"},{"url":"/en/personal/loans/how-much-money-can-i-borrow","text":"How much can I borrow?"},{"url":"https://mijn.ing.nl/banking/loans/personal-loan-apply","text":"Apply for a loan"},{"url":"/en/personal/loans/rates","text":"Current interest rates"}]}]}}}