Now only the lazy one does not know what credit is. The definition of this term is easy. A loan is a certain amount of money that a borrower received from a lender for a certain period of time, and which must be repaid with interest. Naturally, not everything is so simple, since there are commissions, fines and other pitfalls that accompany each loan. The definition, respectively, can be selected and more complex, but dwell on a simple option.
The classification of loans is also very diverse. Consider some of the most common ones. For the main subject of lending, loans are divided into consumer, car loans and housing. Consumer, in turn, are divided into pension, trust and urgent needs. Separately, there is an agricultural and educational loan. The definition of these types of loan products corresponds to their names: the first is issued for the development of agriculture and household plots, the second for tuition. In their design, there are certain nuances that do not allow them to be attributed to "urgent needs."
Car loans can be taken to purchase a new or used car, with / without down payment, under the state car loan program or under the program of associated lending. In the housing group of loan products, a mortgage, a loan for construction, for repair and reconstruction of housing are allocated.
Depending on the loan repayment terms, they are: short-term, medium-term and long-term. Depending on the subjects of lending, loans are provided to individuals, individual entrepreneurs, small and medium enterprises, large enterprises, other banks, working and non-working, retirees, students, etc.
By types of monthly payments, loans can be with differentiated (decreasing) and annuity (identical) payments. The interest rate can be floating and fixed (the latter is most often used). You can repay a loan monthly or quarterly.
Each bank has its own loan programs, which distinguishes one bank from the rest. Someone specializes in housing loans, someone in car loans, someone leads in lending for the purchase of goods in stores.
Nevertheless, the procedure for granting loans to all banks is approximately the same.
1. Consultation. You can get all the necessary information on the Internet, but it’s much better to go to the bank and consult with the loan officer, since all dubious issues will be resolved.
2. Filling out a loan application and submitting documents. A loan application, it is also a questionnaire of the borrower, requires a thorough and detailed answer to the questions posed. The better the questionnaire is filled out, the better.
3. Checking the submitted documents and data. Credit inspectors must review the submitted documents for compliance with all requirements of the bank's instructions. Legal documents for real estate transactions must be watched by a legal service. Security conducts its check, the phone numbers indicated in the questionnaire may well receive clarifying calls from the bank.
4. Signing of credit documentation. If your loan application is approved, you will need to sign a loan agreement, for sureties - a surety agreement, a pledge agreement (if necessary), an urgent obligation and other necessary documents.
5. The issuance of a loan. You are likely to receive the money in your hands or credit it as a contribution. If this is a car loan, then the money will be transferred to the dealership account in a bank transfer.
With the maximum amount and all related payments you need to decide before you need to get a loan. The determination of your solvency and reliability will be carried out at the consultation stage, so try to take a sober look at things and not ask for unrealistic amounts. Not to mention the fact that the application form should reflect the actual state of things, and not be a school essay on a free topic.