All Topics / Finance / Bank Risk Grade

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  • Profile photo of keikokeiko
    Participant
    @keiko
    Join Date: 2008
    Post Count: 513
    April 19, 2010 - 1:54 am

    Hi when a bank puts your risk grade as 6 with excellent accounts, is this good? and how do they work out your risk grade?
    and is 1 crap and 10 excellent? 

    Profile photo of BankerBanker
    Participant
    @banker
    Join Date: 2010
    Post Count: 371
    April 19, 2010 - 10:04 am

    Depends on the lender. CBA retail are 1 to 5. If you are a 1, your own estimate of property value is acceptable as a valuation and deals are automatically approved on 95% of cases.

    NAB business bank have grades 1 to 23 ( again 1 is best).

    All lenders are different.

    Profile photo of keikokeiko
    Participant
    @keiko
    Join Date: 2008
    Post Count: 513
    April 19, 2010 - 10:13 am

    cool thanks banker, yep business loan but not with nab, so I guess 6 would mean I am not best but maybe excellent

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