Modern society is unlikely to imagine its existence without financial support from banks. And the more banks offer, the more demand from consumers. Indeed, the very opportunity to take a thing and not pay for it causes genuine interest. But, unfortunately, needs and opportunities may not always overlap.
When it is not possible to pay off the debt to the bank, you can use the services of refinancing. Refinancing at VTB 24 is a great way to solve problems.
About the bank
VTB 24 is one of the largest representatives of financial organizations operating in the economic market. He is part of the VTB international group and considers working with individuals, entrepreneurs and small business owners a priority in his activity. The Bank covers about 72 regions of our country, offering consumers the main financial products: lending, corporate services, money transfers, opening deposits, as well as a refinancing program. Refinancing at VTB is a great way to reunite several loans and reduce the interest rate. Let's look at this issue in more detail.
Refinancing concept
The very essence of refinancing is to arrange a new loan in order to close loan obligations to other banks. When refinancing, each bank tries to create comfortable conditions for its client: change the amount of the monthly payment, the loan period and the date of payment. VTB 24 carries out refinancing exclusively in the interests of the borrower, helping him to avoid fines and while maintaining a good credit history.
But each client of the bank who wants to conclude a refinancing agreement must understand that when payments are reduced, the loan term increases, and in some cases the interest rate on the loan, which entails a significant overpayment.
Primary requirements
When does refinancing take place? Banks ( including VTB 24 ) carry out this operation only if the borrowers meet the organization’s set requirements. This includes:
- Age restrictions: the bank provides services to individuals from 21 years old to 70 years old.
- The presence of Russian citizenship.
- The presence of constant earnings.
- Positive credit history.
- Work experience in the last place should be at least a year.
- The presence of guarantors.
- Full package of documents.
- VTB Bank refinances loans only if the financial institutions where the loans were taken do not belong to VTB Group.
Documents
If the borrower meets all the above requirements, he will need to collect and provide the following package of documents:
- Passport of a citizen of the Russian Federation with a note on the permanent registration in the lending region, a copy of this document.
- A statement of income, which must be issued within a month before contacting the bank.
- Insurance certificate.
- Guarantor statement and a copy of his passport.
- Proof of ownership of real estate.
- A copy of the work book (employment contract) in the case when the loan exceeds half a million.
- Direct loan agreement.
- Statement of the borrower.
Refinancing in VTB 24 will be issued only when a bank employee checks all the documents and information about the borrower. Persons who are the organization's payroll clients can be re-credited with a minimum set of documents.
Application Methods
An application for refinancing at VTB 24 can be submitted in several ways:
- Visit the bank’s office, where the manager will tell you directly how to fill out the application form and what documents should be provided.
- Fill out the online form. To do this, go to the official website of the bank, find the appropriate tab and enter the necessary data.
The borrower will have to indicate:
- data on the current loan: type, lending period, interest rate, debt balance at the current date, BIC of the creditor bank and current account;
- Contact details;
- place of primary work;
- seniority at the last place of work.
It usually takes one day to consider an online application, after which a bank employee calls back to clarify emerging issues and announce the decision of a financial institution.
Types of refinancing: mortgage
VTB 24 will help renew mortgage loans. Refinancing is carried out in several stages:
- A new loan agreement is being drawn up on the security of real estate or the purchase of an apartment.
- Obligations to the creditor bank are closed, and real estate is pledged to VTB 24.
You can refinance in the amount of from half a million to 90 million rubles. for a period of 5 to 50 years. The interest rate varies from 12.95 to 17.4%. Everything will depend on the loan product. Either it will be a mortgage for the purchase of real estate, or an inappropriate loan secured by an apartment. Salary clients can rely on minimum rates and a simpler procedure for obtaining a loan.
Consumer loan
Almost one hundred percent approval for consumer loans and re-issuance of credit guarantees VTB 24. Refinancing loans can combine up to nine agreements from different banks that are not members of VTB Group.
The main conditions for re-lending are:
- The size of the main debt on a loan or credit card varies from 100 thousand to 3 million rubles.
- The lending period is from six months to 60 months.
- Interest rate - 15%.
It is believed that this type of refinancing is the most common and most simple.
Car loans
If you need to reissue a car loan, you can also contact VTB Bank. Refinancing in this case occurs under other conditions:
- The loan amount varies from 30,000 to a million rubles.
- The rate is from 13.95%.
- The contract is concluded for up to 60 months.
- Road transport becomes collateral for a financial institution.
- The borrower is required to issue a CASCO.
- Monthly payments are made in equal amounts.
In this case, the bank offers its customers rather favorable conditions that allow avoiding problems with the law.
Action algorithm
VTB financial institution refinances loans from other banks according to a very clear and consistent algorithm, which the borrower must follow. Let's consider it in more detail:
- The client of the bank must independently know the amount of debt on the current loan and the number of payments paid.
- The borrower can contact the VTB 24 Bank with the information available, personally visiting any convenient office or filling out an online form on the organization’s website.
- According to the data provided, the bank manager determines the format of the refinancing, conducts the application review process, and also reports the results.
- If the bank gave a positive answer, the borrower must collect and provide the entire list of necessary documents and transfer it to the manager for processing. Based on these documents, a loan agreement is drawn up, which must be signed by both parties.
- Funds that are transferred to the borrower to the specified account must be paid to pay off existing credit debt to a third-party bank. In the corresponding period, the borrower begins to pay money in favor of VTB in accordance with the new terms of the contract.
Based on all of the above, we can conclude that the proposed transparent and favorable conditions, a simple list of documents, a simple algorithm of actions make the VTB 24 refinancing program accessible to most citizens and quite competitive in the financial sector.
Reviews
As in any financial sector, there are both positive and negative aspects to the issue of refinancing at VTB 24 Bank.
According to a number of borrowers in this financial institution, it is rather difficult to refinance loan products of other banks. VTB exposes very harsh conditions. Which causes a clear indignation of citizens who want to reduce their headache. In addition, there are clients complaining about refusal to refinance even with an impeccable credit history. Employees of the bank argue that the approval of on-lending is not an obligation of the organization, but merely a service provided. And the final decision depends only on the bank itself. Some borrowers complain about constant malfunctions in the VTB online system, payments are also lost, or it is generally impossible to send money to the destination.
Naturally, the negative reaction is associated with personal experience, and it turns out that such borrowers were not lucky, because there are also positive aspects. Bank customers who successfully completed the refinancing program note a reduction in monthly payments and the quality of the service provided. In addition, the opportunity to write off funds directly from the current account is encouraging. This eliminates the need for the borrower to queue and make payments in advance. The result of all feedback on the work of the bank and the refinancing program can serve as the words: "How many people, so many opinions."
Here are some feedback from borrowers:
- VTB, for example, like Sberbank, offers some of the most optimal conditions. But it is advisable not to bring the situation to the point of collecting a bunch of loans, and then look for opportunities to combine them into one.
- In case of loss of work, the bank rarely goes towards the client. As a rule, he is denied refinancing services even with a good credit history and unofficial income.
- Often, after filling out an online application, the manager calls back, asks clarifying questions and says that the application is approved. A few days later, information comes from the bank that they cannot provide you a loan. They do not explain anything. For whom then is this program?