The need for additional money appears in most citizens. One of the best solutions to the problem is a bank loan. However, no one wants to overpay, and the search begins for the place where they promise the lowest interest on the loan.
How is the loan rate formed?
The credit policy of banking institutions is formed in this way. The Bank acquires funds from the Central Bank of the Russian Federation at best at a refinancing rate, at worst at a key rate.
Funds held on deposits may also be used to issue loans, but this money cannot be fully utilized. Theoretically, such funds can be issued at interest, a little higher rates on deposits. It will still be profitable. However, bankers prefer to form a single credit policy and not to share the available resources. As a result, the lowest interest on the loan will still exceed the Central Bank's key interest rate by 30-40. This is reality.
What qualities of the borrower will help reduce the percentage?
The borrower goes through several stages of verification. The bank even created special programs that allow quickly setting a preliminary interest rate based on the questionnaire . As a result, in order to get a profitable loan, a small percentage must be "earned."
So, let's see which factors will reduce this indicator, and which, on the contrary, will increase.
Let's start with the good points:
- Successful repayment of a loan taken at the same bank will allow you to “bargain” a few percent.
- A successful repayment of a loan taken from another bank is not so significant, but it will also help.
- A decent amount of a deposit with a bank certainly speaks in favor of the borrower. Its availability is almost a 100% guarantee of a loan.
- The property is owned, especially if it is framed only by the applicant.
- The car is in the property. It all depends on what kind of car it is, in what condition it is.
- A positive factor is official employment, especially if the length of service is quite long.
- Providing a certificate in the form of 2-personal income tax.
What qualities of the borrower can affect the increase in interest?
Negative indicators are also enough. Let's start with those that completely exclude the possibility of obtaining a loan:
- Bad credit history.
- An outstanding criminal record.
- Lack of income (no work, no business).
- The presence of property arrested in court.
Another list of circumstances may not be an obstacle to obtaining the desired borrowed funds, but a loan at the lowest interest rate will definitely not allow:
- Low declared income at the place of employment or in business.
- Lack of real estate property.
- Lack of car ownership.
- Obligation to pay child support.
- The borrower is young, that is, his age is a little over 21 years.
- There were delays in repaying the previous loan.
- Reported on income not in the form of the Federal Tax Service, but on a bank statement filled out in the absence of official income.
Of course, the above technique is very sketchy. In reality, there are many more options.
How to check the future borrower?
To get the lowest loan interest, sometimes have to withstand a multilateral test. First, the manager of the credit department will enter all the data from the questionnaire into a computer, where a special program will analyze the data. If we talk about microfinance organizations, then at this stage usually everything ends. The resources of such institutions are not drawn to greater. But the stakes there are impressive.
If we are talking, for example, about the desire to obtain a consumer loan, the lowest percentage banks can provide quickly so as not to delay the buyer. In online mode, first submitted documents are checked for authenticity, and then credit history. The manager can even call the company where, according to the information provided, the applicant is working. But such actions quite often led to errors due to collusion. It is much more efficient to simply go into the database of the Pension Fund and see all the accruals that were made on the official salary. And so it is now.
How much should I get?
To count on the lowest interest on a loan, the borrower must have an income that meets certain social criteria. Solid banks assume that loan payments should not exceed 40 percent of the salary amount. Otherwise, the borrower will not have enough for a living, and he will begin to delay payments.
It turns out this kind of dependence: convenient conditions for loans will provide only financially safe citizens. Although they can pay more. But it’s already so.
How to choose a bank?
We cited the factors by which banks select “convenient” customers for themselves. But there are criteria by which to choose a credit institution that is able to provide a cash loan with the lowest percentage.
First you need to be patient, this task is not too simple and requires enough time. The approximate scheme of actions is as follows:
- The situation in the consumer lending market is analyzed.
- Bank proposals are being studied. Institutions with state participation have less interest, but the conditions are harsher.
- Online applications are sent to the banks you like.
- Received offers are first studied at home, and then in offices.
It remains to make a choice, collect documents and begin processing.