Currently, consumer loan rates have begun to decline significantly. If earlier money was issued at huge interest, today you can get a loan at a rate of fifteen percent per annum. So where can I get the cheapest consumer credit and what is needed for this?
What determines the interest rate
Many people who have taken, or are just about to take a loan, are interested in the question of which bank to get the cheapest consumer loan from. Before proceeding with the selection of a lender, it is worth analyzing your own capabilities. It is important to consider the level of your income, whether it is possible to leave property as collateral. The credit history of the borrower is also very important. The better it is, the easier it is to get a loan at a favorable rate.
The level of reliability and solvency of the borrower has a very strong influence on the decision of the bank and the attitude to it as a whole.
Also, a big role in determining a bank loan interest rate is played by:
- Is the borrower a salary client of the bank.
- Does he have a deposit in the bank.
- Did he take loans before.
At the same time, most potential borrowers consider it advantageous to have a loan that will be issued at the lowest possible rate, without taking into account its term and insurance payments.
The rate for each client is considered individually and depends on:
- Salary level.
- The social status of the borrower.
- Work experience last.
- The credit history of the borrower.
Equally important is the category to which the borrower belongs. He can be a pensioner, student, military or civil servant. All this affects the determination of the final loan rate.
Who can get a loan
Where to get the cheapest consumer credit? Which bank? It’s not so easy to choose. But before you do this, you need to find out which category of citizens the bank can issue a loan.
To obtain a loan, the borrower must comply with standard banking requirements. These include:
- A potential borrower must have Russian citizenship and a place of permanent registration in any of the regions of Russia.
- The age of the client must not be less than eighteen years. For people who have retired, a separate lending program is provided.
- The borrower must have a permanent, preferably confirmed, source of income.
- Experience at the current place of work should not be less than three months, and the total - at least six months.
If the borrower meets all the above conditions, then he can begin to search for a bank where you can get the cheapest consumer loan.
What documents are needed
To obtain a loan in any financial organization, you must present a certain package of documents. It will help to study the credit history of the borrower and determine the individual loan rate.
These documents are:
- Valid passport of a potential borrower.
- Certificate of state pension insurance of a citizen.
- Certificate confirming the income of the client. For non-working pensioners, it will be replaced by a pension certificate.
In addition to these basic documents, the bank may require a work book, which will be certified by the seal and signature of the employer. A driver's license and TCP can also come in handy. For individual entrepreneurs, the TIN is a mandatory document. If a loan is issued with a pledge of property, then you need to present a certificate of ownership of the property that is left as a pledge to the bank.
Who can take a loan at a reduced rate
The cheapest consumer credit may be available to certain borrowers. The bank makes the most advantageous offers to borrowers who are its payroll clients. In this case, no proof of income is required. The bank will be confident in the solvency of the potential borrower.
A borrower who has previously taken a loan from a bank can count on more loyal conditions. Having a positive credit history also helps to get the cheapest consumer credit.
The cheapest consumer credit in Rostov
Where to get a loan in Rostov and the region at a minimum rate to a borrower with a good credit history? To do this, you can contact banks such as:
- Sberbank
- "VTB 24";
- OTPbank;
- Russian Agricultural Bank;
- "Alfa Bank";
- Home Credit Bank;
- Rosbank.
In addition, the most favorable credit rate for any borrower can get in the bank, whose salary client he is.
Collateral for movable and immovable property, as well as the availability of guarantors, will help reduce the loan rate.
The cheapest consumer loans in Moscow
Such a large city is rich in the presence of banks. Among them there is a lot of competition. For this reason, every financial institution, trying to attract customers, offers more and more favorable credit conditions.
So, for example, in Alfa-Bank you can get a loan at a rate of only 14.9 percent per annum. But for this it is necessary to have an excellent credit history, and it will also be necessary to confirm the source of your income.
Those customers who receive wages on the cards of VTB24, Sberbank, or Rosselkhoz Bank can also rely on more loyal lending conditions.
If the borrower has previously applied to the Bank of Moscow or Tinkoff, then upon repeated appeal, the loan rate may be reduced. Home Credit Bank offers its former and current borrowers credit cards on favorable terms.
But it is worth considering that for all new credit customers, the loan rate is set at an average of 27-35%.
Where is the cheapest consumer loan, it’s definitely difficult to say. This is influenced by many factors, but you can always choose the right conditions.