Sometimes the need for borrowed funds can be satisfied only with a bank loan. There are a lot of offers on the market. How not to make a mistake with the choice?
How to get a loan?
In the territory of the Russian Federation there are many state and commercial organizations, each of which offers its own unique conditions. The loan scheme is the same in any lending institution. You need to choose a service, provide a package of documents and wait for a decision.
The bank may require:
- passport, which confirms the citizenship of the Russian Federation;
- a certificate from the place of work on the level of income for the last 6 months;
- a copy of the employment or contract certified by the seal of the enterprise;
- The second document of your choice (driver’s license, passport, military ID, etc.).
If the loan amount is large, you may need:
- surety of third parties;
- a pledge in the form of property.
Loans in the Russian Federation are issued to citizens aged 21 to 75 years. In this case, the upper bar should be achieved at the end of cooperation with the bank. The conditions, terms and package of documents may vary depending on the selected program.
How to get a consumer loan? A cash loan can be issued in rubles, dollars or euros. Interest rates depend on the chosen currency. The fee for using borrowed funds may be lower if additional guarantees are provided in the form of a pledge or surety.
Quick clearance
If you urgently need cash, but there is no time to wait for a decision from the bank, you can contact Credit Cafe, Mig Credit, etc. Such organizations offer their customers small loans for several days at a reduced interest rate. How to get a loan quickly? It is enough to contact Bystrodengy during business hours, provide a passport, information about the employer and take cash in 20 minutes. Such organizations have several advantages: a minimum package of documents, a high speed of decision-making. How to get a loan to Russians quickly? The second option is to go to a bank in which you have previously taken a loan. If the conditions for generating income have not changed, there is a chance that they will not be delayed for a long time with the decision.
What are banks checking?
During the consideration of the application, credit organizations first of all check the adequacy of the data in the questionnaire. Further, the information is analyzed for stop factors: retirement age, registration of a borrower in an unstable region, etc. For each parameter from the questionnaire, the program assigns an assessment. Based on their total number, the bank makes a decision.
What should a potential borrower pay attention to:
- total amount of overpayment;
- penalties for late payment of contributions, for early repayment of the loan;
- all footnotes in the contract in small print.
How to get a bank loan without insurance?
Easy if the loan amount is small. According to the Federal Law "On Protection of Consumer Rights", coercion to insurance is illegal. Such requirements are optional, but may increase the interest rate if the client refuses the service. On the other hand, in the event of an insured event, the borrower will receive money and will avoid problems in paying the loan.
Bad reputation
The economic crisis of 2009-2010 left many people unemployed. Having lost the source of income, they could not pay the banks for their obligations. This has affected credit history. However, the need for money can arise at any time. Where and how do “bad” customers get credit?
Problems may arise due to a commonplace mistake. According to statistics, 30% of late loans paid due to forgetfulness of customers. Therefore, banks often offer SMS information about the timing of payments. Agree or not, the client decides. Another thing is if the bank refuses the loan, citing a bad credit history, which the borrower does not even suspect. Then it is possible to verify the information by requesting all the client data from the credit bureau . Incorrect data can be corrected. Some banks give loans even to "bad" borrowers, but at high interest rates. By repaying such a loan on time and in full, the client can improve his reputation.
Having spoiled relations with the bank once, people are afraid to contact the institution again. And in vain. Moreover, banks are interested in working with old customers. How do you get a loan in institutions with which relations in the past were ruined? Just like in other organizations. Customers who want to improve their reputation, contact the credit department with a request to build a new payment schedule and agree on the size of the payment. Banks are interested in repaying loans, so they are willing to meet them.
How to be retired
Getting a loan to an employed person aged 21 to 60, all other things being equal, is quite easy. However, the need for money may arise in the elderly. How to receive a pensioner a loan? For the most vulnerable categories of the population, banks are developing programs with special conditions. For credit organizations, pensioners are an attractive category of borrowers, as:
- they are law-abiding, respectable and obligatory;
- they have a small but stable source of income.
But a stumbling block for such borrowers may be:
1. Age. At the time of loan repayment, the payer must be under 75 years old.
2. The level of income. If the borrower's pension is the only source of cash, then you should not count on a large loan. If the potential client still continues to work or is engaged in entrepreneurial activity, then he has much more chances. Lending conditions will differ only in terms. Interest rates will remain at the same level.
Another feature in the service of pensioners is the obligatory life insurance of the borrower. So, a financial institution takes away the risks associated with a possible death of a client, which would entail a default on the loan. But even in this case, a pensioner can count on a small loan amount for a period of several months. To increase it, it is necessary to attract a young guarantor with a high level of income. But here another problem arises. In the event of the death of the borrower, his property and obligations are transferred to the next of kin. Here's how to get a pensioner loan for a large amount.
Interest-free loans
Today, many banks offer their customers a loan on concessional terms. It is very important to understand what exactly is meant.
It’s one thing if banks temporarily lower their interest rates on loans. Such actions are rarely held and are most often caused by the need to put into circulation funds received on deposits with small interest. Another thing is if the bank offers to issue a loan at "0%". How to get a soft loan in this case? No way. The fact is that the Law "On Banks and Banking Activities" clearly stipulates that a credit institution has no right to issue loans for free. The minimum interest rate should be 0.01% per annum. But in this case, banks can force the client to issue an additional package of paid services: starting with SMS-informing and ending with life insurance. Therefore, before you think about how to get "free" loans, read carefully the terms of service. Perhaps it is more profitable to take a loan at a higher percentage, but without additional fees.
Business Development Money
The need for borrowed funds may arise not only from individuals, but also from entrepreneurs. How to get a loan for a business? You must contact the bank, leave a request, provide copies of the statutory documents, financial statements. Depending on the amount and purpose of the loan, the decision is made within 7-30 days. Most often, banks open credit lines to their customers. These funds can be used to meet current needs, such as paying for materials. However, no additional guarantees will have to be provided. But there are practically no options on how to get a loan without guarantors to finance a large investment project. The Bank will not issue a large amount without a third party guarantee or pledge.
Problems
Most of the population is in bondage. The devaluation of the ruble, lower wages, job cuts - all these factors affect the solvency of the borrower. Answering the banks is getting harder. But there is a way. There are several options for resolving loan debt problems. The bank can provide a deferred payment for the repayment of the principal, allowing it to pay interest for a while, prolong the contract or provide a “credit vacation”. The latter option is extremely rare.
Debt restructuring is as follows: the maturity is extended, and the monthly installment is reduced. In this case, you will have to pay more money in the form of interest. But when the situation improves, it will be possible to repay the loan ahead of schedule.
You can change the loan repayment schedule. For example, paying a loan quarterly for some time. Or, for a short time, the size of payments decreases to the amount you need, and then increases proportionally.
If the borrower is experiencing financial difficulties, he can contact the bank with a request for help. But at the same time, the credit institution will insist on frankness regarding the nature of the problems. They will only help if they consider the problem temporary and random. If the situation is critical, they will advise you to sell the deposit.
How to get a loan deferment
The possibility of obtaining a "credit vacation" can be prescribed initially in the contract itself. But this measure is good only for the bank. Individual gets the opportunity not to pay the debt for 1-36 months. After such a delay, the size of payments increases and a fee in the form of interest is added. Therefore, such a vacation will bring additional costs to the payer.
If the borrower still decided to take a deferment, then first you need to find out at the bank:
1) Is this permitted under the terms of the contract.
2) Will there be any payments during the postponement (most often the bank allows not to pay the main debt, but requires timely repayment of interest).
The desire to take a deferment will need to be documented: a certificate from the place of work on the delay in receiving a salary, a birth certificate, a medical certificate with a diagnosis, etc.
Alternative exit
Instead of thinking about how to get a loan deferment, it’s better to try to agree on the extension of the contract. The mortgage can be extended for 5 years. The validity period of consumer and car loans cannot be increased. You can count on a positive decision only if up to this point the borrower has made payments in time and in full.
To begin the process of loan extension, you need to write a letter to the bank explaining the reasons, provide all supporting documents. Such a procedure should be carried out daily for at least one week, since credit institutions tend to “not understand” what is being said about the first time. The bank may refuse to renew without explanation. In any case, the likelihood of extending the contract is higher than receiving a deferment.
Six rules of financial stability
Before you take borrowed capital, you must carefully evaluate your solvency. Bank, analyzing customer data, cares only about the return. And the borrower should think about a balanced budget and standard of living for the duration of the contract.
1. Calculate the optimal monthly payment amount. Experts assure that it should not exceed 40% of the income. Banks reduce this limit to 20-30%. When calculating, it is important to focus only on current income. That is, if after six months for the implementation of the work plan you plan to receive a bonus of 50% of the salary, it is better to postpone the purchase for 6 months. Or indicate in the application your real income level at the moment. By the way, in the UK after the 2010 crisis, banks were forbidden to issue mortgages, the size of which is three times the annual income of the borrower.
2. Determine the optimal loan term, based on the size of the monthly payment.
The relationship between these indicators is the opposite. The longer the loan term, the lower the repayment amount. But in this case, the bank will have to return more money, since the effective interest rate increases annually. In the long run, the probability of unforeseen expenses is very high.
3. Have a reserve fund.
Its size should be from three to six monthly payments. This amount can be stored in cash, placed on deposit and used if for some reason you cannot make a payment on time. In some cases, a reserve fund will avoid the loan itself.
4. Get a loan to buy really important things.
5. Remember the little things.
During calculations, do not round the amounts received down. First of all, this concerns a monthly payment. If you do not return the bank even a penny in the current month, you will have to pay a fine, which is calculated as a percentage of the loan amount. In addition, such clients automatically fall into the category of malicious defaulters. It will be very difficult for them to get a loan in the future.
6. Early repayment and an increase in monthly payments are not the same thing. In the first case, the loan balance, taking into account interest, is returned to the bank immediately in one payment. But if the client simply paid several months in a row more than the established amount, this does not give him the right to independently arrange for himself a “credit vacation”.
Conclusion
There are different situations in life. The need for additional funds may arise suddenly. Well, if a person has savings for a "rainy day", then you do not have to get into debt. How to get a loan without information? It is easy if there is a constant source of income. You just need to contact the bank with a passport and leave a request. The need for a guarantor may arise when buying an apartment, car, or if a loan is taken to develop a business. In other cases, banks require a minimum package of documents, quickly consider applications and make a decision. Here's how Russians get a loan.