According to statistics, almost every second working resident of the country has loans. Moreover, most of them have more than one loan. Wanting to quickly buy the goods they like, people go to banks, where their application for a loan will definitely be approved. However, they forget to pay close attention to the proposed rates. What is the difference, the main thing is to become the owner of an expensive phone / car / apartment soon ...
When it comes to paying loan payments, the picture gets a little spoiled ... Nobody wants to pay huge sums every month. Then, borrowers begin to look for ways to solve a similar problem: someone sells their much-desired purchase item, others decide to refinance. The latter will be discussed further. More precisely, how this procedure is performed at the Rosselkhozbank bank.
Refinancing of loans of other banks: description of the service
The Russian Agricultural Bank, wanting to help the hasty borrowers of other banks, has implemented such a service as refinancing loans. Its essence is that the borrower draws up a new loan at Rosselkhozbank in the amount of the debt to another financial institution. If several loans were previously taken, then they can be simultaneously closed, having received one “large” loan in the company in question. Due to lower interest rates and a long loan term, the level of monthly payments is significantly reduced. So, it will be easier to repay the loan with the Rosselkhozbank bank!
Refinancing of loans of other banks is available here only if the client has no overdue debts. This is because a new loan can cover only the main body of the loan and the interest accrued on it, but not fines and penalties.
The procedure for processing refinancing
If you wish to apply for refinancing a loan at Rosselkhozbank, you should fill out the questionnaire proposed by the bank and prepare the required package of documents. At the same time, you can fill out an application through the official website of the Russian Agricultural Bank. Refinancing consumer loans will then be formalized much faster. For this, the presence of the Internet / personal computer with Internet access and a little free time is enough.
Consideration of a loan refinancing application at the Rosselkhozbank for individuals is carried out within 3 business days. After that, the potential borrower will be notified of the decision. If the answer is yes, it will be necessary to supplement the package of documents with the missing “papers”. Namely, a statement of existing credit debt, a certificate of the absence of late payments and a loan agreement.
Terms of Service
It will be interesting and useful for potential clients of the credit organization under consideration to find out on what conditions refinancing is provided at Rosselkhozbank. The conditions here are:
- The amount of the new loan cannot be greater than the total amount of debts to other creditors. In this case, the maximum amount without security is 750,000 rubles, with security - 1,000,000 rubles. A loan of up to one million rubles can also be issued without providing the participants of the salary project from Rosselkhozbank.
- The maximum loan term is 5 years.
- Security. If collateral was provided for a loan that is subject to refinancing, then Rosselkhozbank will require the same. In the absence of such a condition in the former bank, collateral is also not required here. If necessary, guarantees of individuals and legal entities or a pledge of liquid property may act as security.
The Russian Agricultural Bank compares favorably with a dozen banks with the ability of a borrower to choose a method of paying credit payments. So, he can choose the annuity (monthly payments, the same over the entire loan term) or differentiated (the amount paid per month is gradually changing) type.
Interest rate
The interest rate is determined by many components. So, first of all, its value determines the loan term. For example, if you want to take a loan for a short period (up to 12 months), the loan will be calculated taking into account the interest rate of 13.5% per annum. If it is supposed to take a loan for a period of 1-5 years, then the refinancing rate in the Agricultural Bank will be equal to 15% per annum.
But there is a certain list of events that may lead to an increase or decrease in interest rates. They are as follows:
- +6% in case of disagreement of the borrower / co-borrowers to insure life and health, or in case of non-compliance by these persons with this obligation throughout the entire loan term.
- +3% in the absence of documents confirming the targeted use of borrowed funds.
- -0.6% for “state employees”, salary clients, clients with a “white” credit history at Rosselkhozbank.
Borrower Requirements
As part of the article, it will be appropriate to describe the requirements for borrowers here. So, only persons who satisfy the following requirements can apply for refinancing their loan at the Rosselkhozbank:
- The presence of Russian citizenship.
- Permanent registration in the region of circulation.
- The age of the client is from 23 years at the time of execution of the loan agreement and up to 65 years at the time of loan termination.
- Work experience of 6 months at the last place of work, total work experience of 1 year. If the potential borrower is a salary client of the Russian Agricultural Bank, then the minimum length of service is reduced to 3 months.
- Customer solvency. Here, all sources of borrower's income are taken into account: official wages, additional earnings, social benefits, pensions, etc. If the amount proposed by the bank is not enough, then co-borrowers can be additionally attracted to increase the maximum loan amount. They may be the husband / wife of the borrower, his parents or children and other individuals who are ready to take responsibility for the timely payment of the loan.
It is worth noting that Rosselkhozbank is ready to offer refinancing services even to pensioners. Moreover, if they are paid pensions to an account opened with Rosselkhozbank, then no requirements for seniority will be made.
List of documents
Re-lending in the credit institution in question is permissible upon presentation of the following list of documents:
- Passport of a citizen of the Russian Federation.
- Certificates confirming the existence of a constant income from a potential borrower.
- Refinancing loan agreement.
- Certificate from the previous bank on the amount of outstanding debt.
- When securing a loan: documents for collateral and (or) documents from guarantors / co-borrowers.
In rare cases, the bank is entitled to change the list of required documentation.
Terms of Service
According to the terms of service, the Agricultural Bank is practically no different from its "rivals." So, having received refinancing here, the borrower will also be required to make certain payments according to the established schedule. If desired, early repayment of credit debt is permissible. For such actions, the introduction of additional commissions and payments is not provided.
If you fail to pay the required amount to the borrower within the prescribed time, a fine of 0.1% of the debt amount will be expected and a penalty equal to 20% per annum for the remainder of the loan until the loan is completely closed. If the borrower does not fulfill obligations under the loan agreement, the bank also has the right to impose a fine of 10 minimum wages. All disagreements arising in this case will be resolved in court.
It is worth noting that guarantors / co-borrowers are also responsible for the timely closure of the loan. Therefore, if for any reason the borrower ceases to pay monthly loan payments, then this burden falls on the shoulders of the guarantors.
Mortgage refinancing at the Russian Agricultural Bank
Russian Agricultural Bank also offers its services in refinancing mortgages. However, in order to use it, it is necessary to satisfy the following basic requirements:
- The age of the borrower is up to 65 years.
- Until the expiration of the contract for a valid mortgage there is at least another 2 years.
If desired, it is also permissible to attract co-borrowers under this program. Their maximum age at the time of expiration of the loan agreement must be no more than 60 years.
Is there any benefit?
Should I still take a loan from Rosselkhozbank? Will refinancing mortgages of other banks and other types of loans be more profitable here? So what should you do? The preliminary calculation performed on the proposed calculator on the official website of the Rosselkhozbank bank will help answer this question. If the received amount of monthly payments is much lower, then you need to act faster and get a better loan in a new place. However, one should not forget about the need to pay the borrower's life and health insurance. Perhaps a new loan with additional costs will be more costly.