The article talks about what a loan is, why it is taken, and the topic of microcredit organizations popular in our time is discussed.
Ancient times
If we consider a topic such as loans and borrowing money at interest, then such obligations have existed since time immemorial. Gradually, with the development of society, many moral and social aspects appeared in it, which are inherent in sentient beings. For example, patriotism, gratuitous help to relatives, some moral obligations and so on.
With the development of commodity-money relations, well-to-do people also appeared who could give other person material wealth with the condition of mandatory return in a larger amount, usually depending on the time for which the debt is taken. Such people were called moneylenders, and naturally, they did this not without profit - the whole thing is in percentage, or property, on the security of which a loan was taken. Often, moneylenders, seeing a hopeless situation, deliberately appointed unfavorable conditions for the borrower, therefore, in society they have always been treated by and large negatively.
Banks
Much later, the first banks appeared that concluded a loan agreement and differed from moneylenders in clear conditions that the authorities controlled, as well as the possibility of a gradual increase in deposits or other banking operations.
Nowadays, in almost all developed countries of the world, banks offer various credit services, and this has long been familiar: despite high interest rates, people still use them because of the convenience of instantly receiving funds. Also, organizations that issue instant loans have recently become popular. So what is a loan? What is its difference from a loan and how can it be obtained without even leaving home, for example, on a bank card? This we will understand.
Definition
To begin, we will analyze the terminology. A loan is a certain type of obligation relationship, an agreement according to which one party transfers to the property or temporary management some tangible assets - money, property, subject to a mandatory return within the specified period. Such a contract can be either free or paid, and interest is usually charged for such a service. For example, if a person takes a loan in the amount of 1,000 rubles, then he must repay 1,500 rubles. So now we know what a loan is.
Essence of the question
But if there are loans, why take loans? The thing is that obtaining a loan at a bank can take a long time and requires numerous income certificates so that the bank employee issuing the loan is sure of its repayment. In addition, under current law, the interest rate and terms of a loan cannot exceed specially established norms.
Well, they apply for a loan when money is urgently needed. Typically, such organizations issue them if not immediately, then within a few hours or days. And most do not even require income statements and other documents. But for such convenience and speed you have to pay high interest and tight deadlines. So we sorted out what a loan is.
By the way, there are several major scandals connected with such microcredit institutions, because the conditions under which they issue loans are very different from banking for the worse for the client. But why do people still use their services?
It's all about the high percentage of approval of applications. Large banks have at their disposal a database of debtors and simply people who have or have once taken out loans, and depending on their credit history, they decide whether to cooperate with the client further or not. Simply put, an unemployed person with outstanding loans or other debts will almost certainly be denied. And organizations issuing microloans will approve the application and conclude a loan agreement. Naturally, they do not work at a loss, and with the accumulation of debt, they simply sell the debt to collection agencies.
Bank card
With the development of the Internet and digital technologies, organizations have recently appeared that provide urgent credit card loans. For convenience, all operations are carried out through the Network, by filling out electronic forms on the organization’s website. It describes in detail the conditions of receipt, interest rate, terms of return, accrual of fines for late payment and so on.
They differ in terms of consideration and documents that are required. Typically, to obtain funds you need to indicate your passport data, upload a scan of some documents and contact details. If the application is approved, the operator contacts the client to clarify the details, and the person receives a loan on the card. But in its design, you need to be very careful and thoroughly study all regulatory documents and conditions in order to avoid problems in the future.