Before applying for a loan, most of the population thinks about which banks are profitable to take out a loan. But in the pursuit of a dream, for the sake of which they take this money, people sometimes forget to pay attention to their solvency and possible force majeure circumstances.
How to calculate which loan is right for you?
Before settling on any one loan offer, the best option would be:
- Calculate the possible creditworthiness and the amount of payment per month under the contract. The borrower is considered to be solvent, the repayment of the loan per month of which will not exceed more than 50% of total income. The best option would be if this amount is 10 or 15% of your earnings. According to experts, such a payment amount has virtually no effect on the borrower's standard of living .
- Have the opportunity to earn extra money. A great alternative would be if you have extra money besides your main income. Even if your annuity payment amount is not visible to your budget, this money may be needed in case of unforeseen circumstances.
- Decide on the approximate loan repayment period. Do not forget: the longer you take a loan, the lower the interest rate on loans. Do not go from one extreme to another, find the “golden mean”. According to statistics, the population prefers to take a loan for a year or two, and if it comes to mortgages, then for 5-10 years.
Getting a loan: necessary documents
Today, almost every bank provides loans for any purpose. The most common type of loan is considered a consumer loan. This
the loan is not targeted, and the borrower decides where he can spend the money without the knowledge of the bank. Almost all banks have one list of documents for applying for a loan:
- Passport of a citizen of the Russian Federation.
- Statement of income in the form of 2-personal income tax.
- SNILS, passport or driver’s license.
- Additional documents upon request of the bank.
Which banks are profitable to take a loan?
According to statistics, at the beginning of 2015, interest rates on loans increased significantly compared to the period of 2014. It would be right to connect this with the unstable economic situation in the country and the depreciation of the ruble.
The first place is taken by Sberbank. According to analytical data, this bank has the lowest interest rates. This organization has been holding its positions in the leaders in lending for a long time, using state support.
The average consumer loan rate at this bank is between 19% per annum.
VTB 24 - in second place. One of the largest commercial credit organizations, which is present along with Sberbank in every city.
Getting a loan is possible with a rate of 21% per year.
The third most popular lending institution is Bank of Moscow. It is also a non-state structure and works closely with the population. Possible overpayment for the year from 23% per annum.
Sovcombank is a leader in issuing loans to the population of older and retirement age. But the interest rates on loans leave much to be desired and can reach 30% per year of lending.
Features of credit organizations
No expert will be able to give you an accurate answer to the question of which banks are profitable to take a loan. When applying for a loan, you should pay attention that each bank has its own nuances. Before calculating the interest rate, it is necessary to take into account such factors: loan amount, loan period, insurance under the contract, the estimated tariff, the presence of a pledge or guarantor, your data from the BKI and much more. Based only on these data, the lender will be able to calculate the amount and interest rates on the loan, but only subject to personal appeal to the bank.
Conditions for obtaining a loan
Almost all banks have the same requirements for the borrower:
1. Passport of a citizen of the Russian Federation. Some banks make concessions and allow you to take a loan to people who have a temporary residence permit, the law does not prohibit this, but in practice this happens very rarely.
2. Age from 21 to 65 years. An exception to this section is Sovcombank, which provides loans to pensioners under the age of 75, provided that at the end of the loan agreement you must be no more than the specified age. At the time of application, you should be at most 70 if you expect to take a loan for 5 years, and 72 years if you take a loan for up to three years.
3. Official work. No bank will give a loan to a non-working person. Confirmation of your employment can be a 2-NDFL certificate, a certificate of state registration of you as an individual entrepreneur, or a fixation of your company in the form of LLC, ZAO, OJSC.
4. Good credit history. The presence of repeated delays in repaying loans in the past in 100% of cases will serve as a reason for refusing a loan. And the lack of your data in the credit bureau can also serve as a rejection of your application. Experts advise taking a low-cost thing on credit: a telephone, household appliances or furniture, and regularly repay the loan, thereby establishing itself as a capable, responsible loan borrower. If you were refused immediately after ten minutes after the application, you can be sure: the reason for this may be your bad credit history, since banks check the data from the BKI in the first place.
Customer reviews about banks
When answering the question “which bank is more profitable to take a loan from”, it will be important to pay attention to organizations servicing credit, the reviews of which will provide an overview of the offered lending services in this bank. Pay special attention to real negative reviews.
Before deciding in which banks it is profitable to take a loan, always check your solvency yourself. It is undesirable to take a loan if the monthly payment exceeds 40-50% of your income. You should not complain about the possibility of repaying under the loan agreement ahead of time, without taking into account force majeure circumstances. And finally: do not transfer the blame to the credit institution in case of your difficulties in paying the obligatory monthly payment, you should always approach the loan with a "cold head".