For many of us, consumer credit is a real chance to quickly solve our problems or make our life more comfortable and comfortable. But the lack of the necessary amount is not a reason to take money at a high, or sometimes unbearable, percentage. Despite the variety of offers from various banks, finding one where you can get a consumer loan with a low interest rate is not always possible quickly. There is an exit! More precisely, there are several secrets on how to choose the right bank and which one is the most reasonable to apply to.
What does the interest rate consist of
When a client applies to the bank for a specific purpose - to obtain a consumer loan in cash with a low interest rate, he compares his material capabilities and considers offers. To some extent, the client himself, his reputation and much more can affect the size of the percentage, but basically it consists of many other factors:
- inflation growth;
- costs of servicing deposits from the population;
- economic situation in the country;
- the cost of maintaining the office of the bank and its employees.
All of these factors are in no way connected with the borrower; accordingly, the client will not be able to influence them in any way. But there are a number of circumstances that will allow you to get a consumer loan on more favorable terms.
How to reduce the interest rate on a loan
A customer with an ideal credit history can get consumer loans with a low interest rate at the bank. That is, at the time of issuing a cash loan, the client must have loans closed without delay. Lack of credit history cannot affect the rate reduction.
One of the effective ways to reduce the interest rate on a loan is to participate in a salary project. Here you do not need income statements and guarantors. That is , Sberbank consumer loans with a low interest rate are available to customers who receive their earnings on a plastic card of this organization and may not submit additional documents when applying for a loan.
The last option is to get a secured loan, that is, leave a deposit or attract a guarantor. In this case, the bank minimizes the risk of non-repayment of money and reduces the interest rate on the loan. In case of insolvency of the client, he charges a debt from the guarantor or sells the property left as a pledge.
What to look for
It is quite natural that today the client is looking for the lowest interest rates on consumer loans in different banks via the Internet and compares offers. But, as a rule, banks advertisements only attract the attention of a potential client, promising a lot of money "almost for nothing."
Under each ad in small print it is described on what conditions and which group of persons will be able to get a soft loan. This suggests that not every client can get a low interest on the loan, nevertheless he can submit an application and they can approve it, but the amount of remuneration will differ significantly from that stated in the advertisement.
And the last trick of banks is an online application without a visit to the office. That is, the client fills out a questionnaire on the organization’s website, and he is pre-approved. But after that, he definitely needs to go to the office with the documents, where the loan conditions may be somewhat different.
How to choose a bank
So, now you need to determine how to choose a consumer loan with a low interest rate. Each city has many branches of various banks, and on each of them hangs bright and attractive advertising. But you don’t need to take a passport and run to the first department you find. It is most reasonable to use the Internet and compare all offers online.
Searches will take some time, because you will not only have to look through many offers, but also carefully read the conditions. In some banks, insurance is mandatory for the client, and this is at least one percent of the loan amount. In other banks, favorable conditions are only for borrowers who apply again.
In general, it is more advisable to deal with each bank separately, calculate your capabilities and use a loan calculator. It often happens that a loan with a higher interest rate is ultimately more profitable for the borrower.
Now it’s worth considering the rating of the most popular banks and the terms of lending in them, compare the conditions and determine which one is the most profitable to cooperate with and why.
Sberbank of Russia
Undoubtedly, today it is a leader in the Russian market, among consumers it is positioned as a reliable and honest partner for the borrower. So, what consumer loans of Sberbank with a low interest rate can be issued today?
- Loan “Unsecured”: the rate starts from 17.5% per year. The maximum loan amount is 1.5 million rubles for a period of up to 5 years.
- “A loan with a surety” reduces the interest rate by one percent compared to the previous offer and increases the loan amount to 3 million rubles.
- A loan secured by property owned gives you the right to obtain a loan in the amount of not more than 60% of the appraised value of the property with an interest rate of 15.5% for up to 20 years.
- Participants in the mortgage-savings system can get a loan of up to 500,000 rubles without guarantors at 18.5% or 19.5% per year. With the guarantor, the amount will double.
In addition, Sberbank regularly holds promotions, develops new loan products, and reduces loan rates for certain groups of people. Details of all offers can be found on the bank's website.
Gazprombank
This financial institution also provides individuals with favorable consumer loans. The low interest rate, which banks provide to far from every client, starts at 16.5% and ends at 21.79% per year. It is calculated individually, according to the requirements, a guarantee is not a prerequisite for the borrower.
Loan amount from 30,000 rubles. It is possible to issue 2 million rubles, but only with collateral, that is, with a surety. The maximum debt repayment period is 5 years. Application review period up to 5 days.
VTB 24
This bank offers consumer loans with a low interest rate - from 20.5 to 23.5%. Loan amount up to 1 million rubles for a period of 5 years. The rate depends not only on the reputation of the client, but also on his desire to arrange two types of insurance. By the way, here quite high demands are made to potential borrowers, and in order to get a loan, you need a high-income salary certificate .
Bank of Moscow
He offers a consumer loan with a low interest rate - from 19.9%, the maximum amount - 299 thousand rubles. But such privileged conditions are available only for salary clients, for others the rate rises to 26.5% per year. To apply for a loan, you need a certificate of income.
Conclusion
Hundreds of banks offer low interest rate consumer loans today, and they all have definitely favorable conditions. But you do not need to rely on the fact that financial institutions will work at a loss to themselves. It is necessary to adequately assess the situation and, if possible, contact those banks with which there has already been successful experience in cooperation.